Leadership Transitions and Financial Shifts: Top Stories in Finance

The European Central Bank cuts interest rates for the first time in five years. Mike Lynch is acquitted in a fraud trial. Bernard Arnault names his son Frédéric as head of LVMH family holding group. Chanel's creative director, Virginie Viard, is set to step down.

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- European Central Bank cuts interest rates for first time in 5 years - Former Autonomy chief Mike Lynch acquitted in US fraud trial

- Bernard Arnault names son Frédéric as head of LVMH family holding group - Chanel's creative director Virginie Viard to step down

Overview - The European Central Bank has cut interest rates for the first time in almost five years, but warned future reductions would depend on price pressures easing further.

- Mike Lynch, once one of the UK's leading tech entrepreneurs, was acquitted of criminal charges by a jury in San Francisco on Thursday, capping a 12-year legal saga stemming from one of Silicon Valley's biggest fraud cases. - French billionaire Bernard Arnault has appointed his son Frédéric as head of one of the family holding companies controlling LVMH, the latest in a series of promotions for the 29-year-old scion within the world's largest luxury group.

- Chanel's creative director Virginie Viard is leaving the luxury fashion house, capping a career of almost three decades at the group, which is yet to name a replacement. (Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)