Bloomberg Kering SA, the French owner of the Gucci luxury brand, owes about 1.4 billion euros ($1.6 billion) to Italy in back taxes, according to the conclusions of a government audit. The probe scrutinised business activities by Kering’s Swiss subsidiary, Luxury Goods International, from 2011 through 2017, according to a company statement. Kering said it contests the findings of the …

Bloomberg Billionaire Lucio Tan, who controls Philippine Airlines Inc., denied reports about a forthcoming stake sale days after ANA Holdings Inc. confirmed it’s in talks with the carrier’s listed parent PAL Holdings Inc. There’s “no plan” to sell, Tan, 84, said in an interview on the sidelines of a central bank event in Manila. News that a stake sale is …

Bloomberg Delta Air Lines pushed back the US debut of Airbus’s newest aircraft by a week because it can’t get needed approvals for the flights from the Federal Aviation Administration during the government shutdown. Inaugural flights of the Airbus A220 will be reset to February 7 from January 31, Morgan Durrant, a Delta spokesman, said. Other aircraft will be substituted …