Bloomberg Administrators for South Africa’s loss-making state airline have defended their decision to cut routes as part of a turnaround plan, after objections from President Cyril Ramaphosa, government and labor unions. South African Airways (SAA) will halt service to nine international cities, including Hong Kong and Sao Paulo, and cease all local services except those between Johannesburg and Cape Town. …

Bloomberg Luxury conglomerate Tapestry Inc appointed Liz Fraser as the new head of its beleaguered Kate Spade brand after the departure of Anna Bakst at the end of the year sparked a search for a new executive. Fraser starts as CEO of Kate Spade on March 1 and will take over from Joanne Crevoiserat, Tapestry’s chief financial officer who held …

Bloomberg Hermes International unveiled its first products from a new beauty division, adding $67 lipsticks to a brand better known for $9,000-plus Birkin bags and $400 silk scarves. By expanding its offer in cosmetics, Hermes is testing the waters of a category that has long driven sales and profit for rivals like LVMH’s Christian Dior and Chanel. Hermes, which says …