PARIS: French luxury group Kering is selling its beauty products business, including its leading perfume brand Creed, to cosmetics giant L&#39;Oreal in a deal worth $4.6 billion, the companies said Sunday. Kering, owner of luxury handbag-maker Gucci, and the French grooming giant said in a joint statement they were &quot;entering a long-term strategic partnership in luxury beauty and wellness.&quot; Under the deal, L&#39;Oreal will acquire Kering&#39;s beauty products division, including Creed, they added. They valued the deal at four billion euros overall, subject to regulation, with payment expected in the first half of 2026. &quot;Through Creed, we will establish ourselves as one of the leading players in the fast-growing niche fragrance market,&quot; said L&#39;Oreal chief executive Nicolas Hieronimus in the statement. The companies said the partnership &quot;includes the rights to enter into a 50-year exclusive license for the creation, development, and distribution of fragrance and beauty products for Gucci&quot; after the current licence expires.

Business

Kering will sell its beauty division, including luxury perfume brand Creed, to L’Oreal for $4.6 billion under a new strategic partnership that also grants L’Oreal future rights to Gucci beauty products.

Gucci owner sells beauty division to L'Oreal for $4.6B

Web Desk

ISLAMABAD: US President Donald Trump has urged China to resume purchases of American soybeans and stop the flow of fentanyl into the United States, warning that he would not make a trade deal unless Beijing complied, Reuters reported.&nbsp;Speaking to reporters, Trump said, &ldquo;One of the things I want is China to buy soybeans. I want China to stop with the fentanyl &mdash; very normal things. I don&rsquo;t want them to play the rare earth game with us.&quot;&nbsp;Asked whether he believed China would agree, Trump replied, &ldquo;I do believe, yeah, because otherwise I&#39;m not going to make a deal. Our farmers have been boycotted by China as a negotiating point. I want them to start buying soybeans at least in the amount they were buying before.&quot;&nbsp;Trump also claimed China was paying record tariffs, adding that he was open to lowering them only if Beijing &ldquo;does things for us too.&rdquo;&nbsp;The remarks came amid heightened US-China trade tensions after Beijing expanded export rules on rare earth materials &mdash; a move analysts say mirrors long-standing American trade controls.&nbsp;According to an Associated Press report, China&rsquo;s new export restrictions require foreign firms to seek approval from Beijing to sell products containing even small amounts of Chinese-origin rare earth materials or technology. This effectively gives China influence over the global supply chain of smartphones, electric vehicles, and advanced weapons systems.&nbsp;Analysts say Beijing&rsquo;s strategy borrows directly from US trade playbooks. &ldquo;China is learning from the best,&rdquo; said Neil Thomas of the Asia Society Policy Institute. &ldquo;Beijing is copying Washington&rsquo;s playbook because it saw firsthand how effectively US export controls could constrain its own development.&rdquo;&nbsp;The move follows a series of tit-for-tat measures since Trump relaunched his trade war earlier this year. Beijing has since blacklisted several US firms, tightened export controls on critical minerals, and imposed matching tariffs &mdash; including a 125% &ldquo;Liberation Day&rdquo; tariff in April.&nbsp;Experts warn the spiral could deepen global economic uncertainty. Jeremy Daum of Yale Law School told AP that while both governments now share a &ldquo;holistic view of national security,&rdquo; their reciprocal measures risk turning into a &ldquo;race to the bottom where nobody wins.

Americas

Says he wants China to buy soybeans and does not want them to play the rare earth game with us.

Trump presses China on soybeans, fentanyl amid escalating rare earth tensions

ISLAMABAD: Pakistan won the toss and elected to bat first against South Africa in the second Test at the Rawalpindi Cricket Stadium on Monday. &ldquo;We haven&rsquo;t played here in a while, so it&#39;s better to bat first,&rdquo; Masood said at the toss, confirming one team change as left-arm spinner Asif Afridi makes his debut, replacing Hasan Ali.&nbsp;South Africa captain Aiden Markram said his side had learned &ldquo;a couple of lessons from the first innings in Lahore,&rdquo; adding that Marco Jansen and Keshav Maharaj come into the XI, while Wiaan Mulder and Prenelan Subrayen miss out. Playing XIsPakistan: Imam-ul-Haq, Abdullah Shafique, Shan Masood (captain), Babar Azam, Mohammad Rizwan, Saud Shakeel, Salman Ali Agha, Shaheen Shah Afridi, Noman Ali, Sajid Khan, Asif Afridi. South Africa: Aiden Markram (c), Ryan Rickelton, Tristan Stubbs, Tony de Zorzi, Dewald Brevis, Kyle Verreynne, Senuran Muthusamy, Marco Jansen, Simon Harmer, Keshav Maharaj, Kagiso Rabada

Cricket

Left-arm spinner Asif Afridi makes his Test debut.

Pakistan opt to bat first in second Test against South Africa

TOKYO: Japan&#39;s governing party leader, Sanae Takaichi, is on track to become the country&rsquo;s first female prime minister, after finding a badly needed replacement for a crucial partner that left her Liberal Democratic Party&rsquo;s coalition. Takaichi, 64, would replace Prime Minister Shigeru Ishiba in Tuesday&rsquo;s parliamentary vote. If she&#39;s successful, it would end Japan&#39;s three-month political vacuum and wrangling since the coalition&#39;s loss in the July parliamentary election. The moderate centrist Komeito party split from the LDP after a 26-year-long coalition. The move by Komeito came days after Takaichi&rsquo;s election as president of her party, and it forced her into a desperate search for a replacement to secure votes so that she can become prime minister. The Buddhist-backed Komeito left after raising concerns about her ultraconservative politics and the LDP&rsquo;s lax response to slush fund scandals that led to their consecutive election defeats and loss of majority in both houses. While the leaders of the country&#39;s top three opposition parties failed to unite for a change of government, Takaichi went for a quick fix by teaming up with the most conservative of them: The Osaka-based Ishin no Kai, or Japan Innovation Party. But the long-term stability of their cooperation is an unknown. The two parties are set to sign a coalition agreement on Monday. An eventual Takaichi premiership would be on a cliff edge. The fragile new coalition, still a minority, would need cooperation from other opposition groups to pass any legislation. It would be a risk that could lead to an unstable, short-lived leadership. Big diplomatic tests come within days &mdash; talks with US President Donald Trump and regional summits. At home, she needs to quickly tackle rising prices and compile economic boosting measures to address the frustrated public. Unpopular among womenAn admirer of former UK Prime Minister Margaret Thatcher, Takaichi&#39;s breaking of the glass ceiling makes history in a country whose gender equality ranks poorly internationally. But many women aren&#39;t celebrating, and some see her impending premiership as a setback. &ldquo;The prospect of a first female prime minister doesn&rsquo;t make me happy,&rdquo; sociologist Chizuko Ueno posted on X. Ueno explained that Takaichi&rsquo;s leadership would elevate Japan&rsquo;s gender equality ranking, but &ldquo;that doesn&rsquo;t mean Japanese politics becomes kinder to women.&rdquo; Takaichi, an ultraconservative star of her male-dominated party, is among those who have stonewalled measures for women&rsquo;s advancement. Takaichi supports the imperial family&rsquo;s male-only succession, opposes same-sex marriage and a revision to the civil law allowing separate last names for married couples, so women don&rsquo;t get pressured into abandoning theirs. The prospect for a dual system for last names is fading under Takaichi, Ueno says. &ldquo;Ms. Takaichi&rsquo;s policies are extremely hawkish and I doubt she would consider policies to recognize diversity,&rdquo; said Chiyako Sato, a political commentator and senior writer for the Mainichi newspaper. Rising prices and population declineIf she&#39;s successful in the parliamentary vote, Takaichi would immediately launch her Cabinet on Tuesday and make a policy speech later in the week. A protege of assassinated former Prime Minister Shinzo Abe, Takaichi is expected to emulate his economic and security policies. With a potentially weak grip on power, it&#39;s unknown how much Takaichi would be able to achieve. She would have only a few days to prepare for diplomatic tests &mdash; major regional summits and talks with Trump in between. She has to reassure that there will be stable ties with China and South Korea, which are concerned about her revisionist views on wartime history and past visits to the Yasukuni Shrine. The shrine honors Japan&rsquo;s 2.5 million war dead, including convicted war criminals. Victims of Japanese aggression, especially China and the Koreas, see visits to the shrine as a lack of remorse about Japan&rsquo;s wartime past. Takaichi supports a stronger military, currently undergoing a five-year buildup with the annual defense budget being doubled to 2% of gross domestic product by 2027. Trump is expected to demand that Japan increase its military spending to NATO targets of 5% of GDP, and purchase more US weapons. Takaichi has to follow up on Japan&rsquo;s pledge of $550 billion to Trump&rsquo;s administration as part of a US tariff deal. Her policies focus on short-term measures such as rising prices, salary increase and subsidies, as well as restrictions against a growing foreign population amid a rise of xenophobia. Takaichi hasn&#39;t shown a vision for Japan to address bigger issues like demographic challenges. Takaichi&rsquo;s dilemmaTakaichi&rsquo;s mission is to regain conservative votes by pushing the party further to the right. The LDP&rsquo;s new coalition with the right-wing JIP may fit Takaichi&#39;s views, but experts say that she would have to avoid pushing them and prioritize stability. She needs to balance relations between China and the United States under Trump, while at home she also needs balance to gain support from the opposition camp to achieve anything. &ldquo;She needs to be realistic,&rdquo; says Sato, the commentator. On Friday, Takaichi sent a religious ornament instead of going to the Yasukuni Shrine, apparently to avoid a diplomatic dispute with Beijing and Seoul. To consolidate opposition cooperation and lift her coalition closer to a majority, she has reached out to smaller opposition groups, including the far-right Sanseito. &ldquo;There is no room for Takaichi to show her true colors. All she can do is cooperate per policy,&rdquo; said Masato Kamikubo, a Ritsumeikan University political science professor. &ldquo;It&rsquo;s a pathetic situation.&rdquo; A kingmaker&#39;s influenceTakaichi&rsquo;s election as LDP leader as she seeks the premiership is about power politics by the 85-year-old conservative former Prime Minister Taro Aso, the party&rsquo;s most powerful kingmaker. In her first move as LDP president, Takaichi appointed Aso as the party&#39;s vice president and gave more top jobs to his allies and others who supported her, including Abe allies linked to the funds scandal. Takaichi is expected to appoint them to her Cabinet. Political instabilityPolitical observers expect that a Takaichi government wouldn&#39;t last long. An early election may have to be called later this year, in hopes of regaining a majority in the lower house, though that would be tough. Experts also raise concerns about how Takaichi, a fiscal expansionist, can coordinate economic policies with Ishin&#39;s fiscal conservative views. &ldquo;The era of LDP domination is over and we are entering the era of multiparty politics. The question is how to form a coalition,&rdquo; Sato said, noting a similar trend in Europe. &ldquo;We need to find a Japanese way of forming a coalition and a stable government.&rdquo; About a dozen opposition parties span the spectrum from the Japanese Communist Party on the left to Sanseito and several others on the extreme right. &ldquo;What&rsquo;s going on here right now is what&rsquo;s going on in all our democracies for a lot of complicated reasons,&rdquo; said Gerald Curtis, a Columbia University professor and expert on Japanese politics, citing the mainstream political parties losing popularity, and voters acting on the basis of anger and resentment.

Asia

Ultraconservative Sanae Takaichi is poised to become Japan's first female prime minister, forming a fragile coalition amid political instability, rising prices, and diplomatic challenges, though her leadership faces deep public and ideological divides.


Sanae Takaichi likely to win Japan elections

BEIJING: China on Sunday accused the US National Security Agency (NSA) of carrying out cyberattacks on its national time center, saying any damage to related facilities could have disrupted network communications, financial systems, and power supply. The Ministry of State Security alleged that the US agency had exploited vulnerabilities in the messaging services of a foreign mobile phone brand to steal sensitive information from devices of the National Time Service Center&#39;s staff in 2022.&nbsp; &lsquo;Special cyberattack weapons&rsquo;It did not specify the brand. The US agency also used 42 types of &ldquo;special cyberattack weapons&rdquo; to target the center&#39;s multiple internal network systems and attempted to infiltrate a key timing system between 2023 and 2024, it said in a post on WeChat, a Chinese social media platform. The ministry said it had evidence but did not provide it in the post.&nbsp;What is the time center?It said the time center is responsible for generating and distributing China&rsquo;s standard time, in addition to providing timing services to industries such as communications, finance, power, transport, and defense.&nbsp; The ministry added that it had provided guidance to the center to eliminate the risks. &ldquo;The US is accusing others of what it does itself, repeatedly hyping up claims about Chinese cyber threats,&rdquo; the post said. Western governments in recent years have alleged hackers linked to the Chinese government have targeted officials, journalists, corporations, and others.&nbsp;&nbsp;Ongoing tensions&nbsp;The ministry&#39;s statement could fuel tensions between Washington and Beijing, on top of trade, technology, and other issues. The US Embassy did not address the Chinese allegation in an emailed response. The response focused on China&#39;s cyberattacks, calling them the most active and persistent threat to the US government and companies.

China

Says US agency, the NSA used 42 types of “special cyberattack weapons” to target the center's multiple internal network systems and attempted to infiltrate a key timing system between 2023 and 2024.

China accuses US of cyberattack on national time center

Reuters

BEIJING: China&#39;s economic growth slowed to the weakest pace in a year in the third quarter, as a property crisis and trade tensions hurt demand, leaving policymakers with the daunting challenge of rebalancing GDP drivers towards greater consumption over time.&nbsp;Authorities have unveiled modest stimulus measures this year, supported by resilient exports and strong stock markets, but renewed US-China trade tensions pose risks. While there is room for additional support, analysts are divided over whether policymakers will act this year.&nbsp;Data on Monday showed gross domestic product (GDP) grew 4.8% in July-September, slowing from 5.2% in the second quarter and in line with analysts&#39; expectations in a Reuters poll for a rise of 4.8%.&nbsp;China is aiming for full-year growth of around 5%.&nbsp;&quot;The market understanding was that China is going to miss the target, no matter what. Even with stimulus, it was going to be below 5%,&quot; said Dan Wang, China director at Eurasia Group.&nbsp;&quot;But judging by the figure for the first three quarters, it&#39;s going to hit the target, suggesting China can withstand any pressure from the US, even with such levels of tariff threats and export restrictions. Beijing is sending the signal that it is capable of reaching its development goals and is strongly committed to its policies.&quot;&nbsp;Quarterly, GDP grew 1.1% in the third quarter, the National Bureau of Statistics data showed, compared with a forecast 0.8% increase and a revised 1.0% gain in the previous quarter.

Data on Monday shows gross domestic product (GDP) grew 4.8% in July-September, slowing from 5.2% in the second quarter and in line with analysts' expectations in a Reuters poll for a rise of 4.8%.

China's Q3 GDP growth slows to one-year low

HONG KONG: A cargo aircraft skidded off a Hong Kong runway into the sea when landing early Monday, killing two people. The Emirates flight, arriving from Dubai, United Arab Emirates, was landing at Hong Kong International Airport around 3:50 a.m., according to Hong Kong&rsquo;s airport authority. Four crew members on the plane were rescued and taken to a hospital. Initial reports from police said two people in an airport ground vehicle were killed. Emirates said the Boeing 747 freighter flying as EK9788 was wet leased and operated by Turkish cargo carrier Act Airlines. In wet leases, the company supplying the plane also provides the crew, maintenance, and insurance. The airline said there was cargo on board. Local Hong Kong broadcasters showed the aircraft partially submerged just off the edge of the airport&rsquo;s sea wall. The aircraft&rsquo;s front half and cockpit were visible above water, but the tail end appeared to have broken off. The crash occurred on the north runway of Hong Kong&rsquo;s airport, one of Asia&rsquo;s busiest. That runway remained closed, while the two other runways at the airport continue to operate. Hong Kong&#39;s Civil Aviation Department said in a statement it was following up with the airlines and other parties involved in the crash.

A Turkish-operated Emirates cargo plane skidded off Hong Kong’s runway into the sea during landing, killing two airport workers and injuring four crew members, prompting runway closure and an ongoing aviation investigation.

Cargo aircraft skids off Hong Kong runway into sea, killing 2 people

AUSTIN:&nbsp;Max Verstappen made it clear that he is chasing a spectacular fifth world title after reeling off his third win in four races with a masterclass in Sunday&#39;s sizzling United States Grand Prix. After avoiding direct comment on the championship for several weeks, Red Bull&#39;s four-time champion said he felt sure he now has a real chance of snatching the title from the grasp of McLaren&#39;s Oscar Piastri and Lando Norris. Boosted by cutting Piastri&#39;s advantage to 40 points with five Grands Prix remaining, including two more sprint races, a buoyant Verstappen called for Red Bull to maintain their momentum. &quot;Yeah, for sure, the chance is there,&quot; he said. &quot;We just need to try and deliver these weekends until the end. We will try whatever we can.&quot; After winning both Saturday&#39;s sprint and Sunday&#39;s Grand Prix race, Verstappen has 306 points in the title race, in third place, leaving Piastri on top with 346 points and Norris on 332. McLaren have already won the constructors&#39; title for the second consecutive year, but have focussed on preparing for 2026 and stopped introducing updates to their car for this year &mdash; leaving their drivers nervously scrambling to keep their title bids on track. The 28-year-old Dutchman has now collected 119 points from a possible 135 over the last five Grand Prix weekends &mdash; a run that has also coincided with improvements in form from both Mercedes and Ferrari. Verstappen added, &quot;It was an unbelievable weekend for us. I knew that the race was not going to be super straightforward, and I think, if you look at the whole race, the pace between me and Lando was really close. &quot;I think the first stint is where we made the difference. I could eek out a little bit of a gap, and that is basically what we kept until the end.&quot; He added, &quot;I am incredibly proud of everyone for delivering a weekend like this, and now we just have to keep the momentum.&quot; Verstappen&#39;s late-season charge has prompted memories of the 2007 season when Kimi Raikkonen of Ferrari went into the final race in Brazil trailing both McLaren drivers, Fernando Alonso and Lewis Hamilton, but emerged as champion.

Racing

Red Bull's four-time champion reignited his title hopes with victory at the US Grand Prix, closing in on McLaren’s Oscar Piastri and Lando Norris as he targets a fifth world championship with five races remaining.

Verstappen gunning for fifth world title

FLORIDA: Speaking to the media, US President Donald Trump said on Monday that India will continue to pay &quot;massive&quot; tariffs if they don&#39;t restrict Russian oil purchases.&nbsp; Trump said that Prime Minister Narendra Modi told him India will stop its Russian oil purchases. &quot;I spoke with Prime Minister Modi of India, and he said he&#39;s not going to be doing the Russian oil thing,&quot; Trump told reporters aboard Air Force One, reiterating what he said in the past week. When asked about India&#39;s government saying it was not aware of any conversation between Modi and Trump, Trump replied: &quot;But if they want to say that, then they&#39;ll just continue to pay massive tariffs, and they don&#39;t want to do that.&quot;

Trump warns India will continue to face ‘massive tariffs’ over Russian oil purchases

MADRID: Kylian Mbappe extended his goalscoring streak to 11 consecutive games to help Real Madrid reclaim top spot in La Liga with a 1-0 victory at nine-man Getafe on Sunday. After rivals Barcelona briefly displaced Los Blancos with a narrow win over Girona on Saturday, Xabi Alonso&#39;s side restored their two-point advantage before next weekend&#39;s Clasico. Getafe fended off Madrid until Allan Nyom was dismissed a minute after coming on, and Mbappe quickly pounced to decide the game in the 80th minute. Alex Sancris was also sent off as Getafe unravelled in the final stages. Alonso started with Brazilian star Vinicius Junior on the bench, with the Champions League clash against Juventus on Wednesday and Barca&#39;s impending visit in mind. The winger turned out to be key as a second-half substitute, with both of Getafe&#39;s red cards issued for fouls on him. &quot;Vini had a great impact ... we told him this morning he could be so important,&quot; Alonso told reporters. &quot;It was a very demanding game, coming here to face Getafe is never easy ... it wasn&#39;t the prettiest game but we did what we had to do.&quot; Mbappe returned after an ankle problem kept him out of a France World Cup qualifier earlier in the week, leading the line at Getafe&#39;s Coliseum stadium. The French forward had scored in his previous 10 consecutive appearances for club and country and found the net once again. &quot;We are very happy with how Kylian is going; he&#39;s being decisive,&quot; said Alonso. Mbappe twice came close before Getafe earned a foothold in the game and began to frustrate the visitors, stopping them from creating much danger. Only towards the end of the first period did Madrid perk up again in attack, with Soria saving from Rodrygo Goes after good work by Jude Bellingham. Getafe&#39;s goalkeeper made a good stop from a powerful David Alaba free-kick, and Fede Valverde flashed a strike across the face of the goal before half-time. Alonso sent on Vinicius in the second half, and his spark began to worry the hosts, who resorted to fouls to fend off the Brazilian. Bellingham fed Mbappe, who fired off target, and then whipped a free-kick inches wide, as Madrid remained comfortably on top. Getafe see redThe game changed when Getafe substitute Nyom, under a minute after coming on, needlessly knocked down Vinicius off the ball with his arm and was sent off. Moments after play restarted, Real Madrid took the lead. Arda Guler fed Mbappe, who was just onside, and he turned nicely before firing past Soria and in off the post for his 10th league goal of the season, leading the charts both in La Liga and in the Champions League. Getafe continued to self-destruct and Sancris was sent off for a second yellow card, gained for another unnecessary foul on Vinicius, leaving Jose Bordalas&#39;s side with nine men. Alvaro Carreras fired wide after a cheeky scoop over the defence by Vinicius, whom Getafe fans booed. Despite their significant numerical disadvantage, the hosts had one golden chance to level in stoppage time, but Thibaut Courtois saved from Englishman Abu Kamara with his knee. &quot;We should not give away this chance, but Thibaut did his job,&quot; said Alonso. Getafe coach Bordalas said he did not believe Nyom deserved to be dismissed before Madrid&#39;s opener. &quot;Nyom&#39;s red card changed the game,&quot; said the Getafe coach. &quot;For me, it&#39;s not a red card, yellow at most.&quot; Elsewhere, newly-promoted Elche continued their good start to the season with a 0-0 draw against Athletic Bilbao, which left them seventh, one place above their Basque opponents. Rayo Vallecano climbed into 10th with a 3-0 win at Levante, while struggling Real Sociedad snatched a late 1-1 draw at 10-man Celta Vigo.

Football

The 80th-minute strike sealed Real Madrid’s 1-0 win over nine-man Getafe, extending Mbappe's scoring streak to 11 games and restoring Madrid’s La Liga lead ahead of the upcoming Clasico against Barcelona.