Versace store in Milan, Italy. Photo: Vittorio Zunino Celotto/Getty Images

Michael Kors is close to buying Versace in a deal valuing the brand around $2 billion, multiple news outlets report. Blackstone, which has a 20% stake in the company, will reportedly exit, while the Versace family will maintain its role.

Why it matters: After its acquisition of Jimmy Choo last year, Michael Kors made it clear it wants a leg up in the luxury retail world. A Versace takeover would help it compete with the likes of Coach-parent Tapestry, which owns Stuart Weitzman and Kate Spade, and other fashion conglomerates like LVMH.

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FDA chief vows agency will not accept political pressure on coronavirus vaccine

Food and Drug Administration Commissioner Stephen Hahn promised that "science will guide our decision" for a coronavirus vaccine at a Senate hearing on Wednesday.

Why it matters: More Americans are expressing doubt about a first-generation vaccine, despite President Trump's efforts to push an unrealistic timeline that conflicts with medical experts in his administration.

CEO confidence rises for the first time in over 2 years

Data: Business Roundtable; Chart: Naema Ahmed/Axios

A closely-watched CEO economic confidence index rose for the first time after declining for nine straight quarters, according to a survey of 150 chief executives of the biggest U.S. companies by trade group Business Roundtable.

Why it matters: The index, which still remains at a decade low, reflects corporate America's expectations for sales, hiring and spending — which plummeted amid uncertainty when the pandemic hit.

Official says White House political appointees "commandeered" Bolton book review

John Bolton's book "The Room Where it Happened." Photo: Chris Delmas/AFP via Getty Images

A former career official at the National Security Council claims her pre-publication review of former national security adviser John Bolton's explosive book on President Trump was "commandeered by political appointees for a seemingly political purpose," according to a letter from her lawyers filed in court on Tuesday.

Why it matters: The White House fought against the publication of Bolton's book for most of the year on the grounds that it contained harmful and "significant amounts of classified information."

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