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Merrit Kennedy

Luxury brand Coach says it has reached a deal to acquire smaller rival Kate Spade in a cash deal worth $2.4 billion.

The announcement confirms months of rumors that the two New York-based brands were in talks to join forces and comes as Coach is trying to attract millennial customers. Both boards unanimously approved the deal, which is expected to close in the third quarter of 2017.

Updated at 5:10 p.m. ET

Syria's foreign minister said Monday that the government supports a new Russian-backed deal to create "de-escalation zones," though it does not support the presence of international forces to enforce them.

But it remains to be seen whether this latest international effort will be any different than numerous other attempts that have thus far failed to end the six-year conflict.

The sister of President Trump's son-in-law, Jared Kushner, highlighted her powerful brother as she pitched financing the family firm's real estate project in New Jersey to Chinese investors.

North Korean state media reports the country has detained a U.S. citizen — the fourth U.S. citizen being held there amid rising tensions between the two countries.

The official Korean Central News Agency identifies the man detained Saturday as Kim Hak Song, an employee of Pyongyang University of Science and Technology (PUST).

The owner of the Pulse Nightclub, the site of the deadliest mass shooting in modern U.S. history, has announced plans to turn it into a memorial and museum to commemorate the tragic event.

"This must and will be a healing initiative, one that I believe will inspire supporters who share our vision and understand the sacred responsibility to which we have been entrusted," Barbara Poma told reporters on Thursday at the Pulse nightclub site.

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