Business daily

Foreign investors snap up luxury Paris hotels

The only five-star hotel on the Champs Elysées has been bought by a Hong Kong-based investment fund for €344 million. The purchase is just the latest Paris hotel to be bought by foreign investors, keen to cash in on the wealthy clientele and high value of property in the French capital. Also today: why a children’s book about a purple house might herald the launch of Amazon’s new smartphone.