Executives of those companies scoff at all this. Many say they now struggle to justify investing in the country and talk instead of cutting staff. In a recent survey by the American Chamber of Commerce in Shanghai, less than half of respondents said they were optimistic about the prospects for their business in China over…
Oct. 16, 2024 – The European luxury goods index dropped today as Europe’s luxury shares slid today following the falling sales of LVMH (LVMHF), the world’s leading luxury goods group. The weakened demand from China is the concern as they are considered important consumers in the luxury business. LVMH fell 7% in early trading and…
(Bloomberg)- LVMH shares plunged after sales of fashion and leather goods fell for the first time since the pandemic, revealing the scale of the slump in demand from once insatiable Chinese consumers. Organic revenue at the key unit whose brands include Louis Vuitton and Christian Dior declined 5% in the third quarter. Analysts had expected…
A look at the day ahead in European and global markets from Ankur Banerjee European chip and luxury stocks will be at the forefront of investors’ minds on Wednesday, and for all the wrong reasons, after lacklustre earnings from the region’s biggest tech firm ASML and luxury bellwether LVMH dragged shares lower. Chip stocks around…
Photo: Josh Edelman (Getty Images) In This Story Meta co-founder and CEO Mark Zuckerberg is now the second-richest person in the world, according to the Bloomberg Billionaires Index. Donald Trump and Kamala Harris are neck-and-neck with crypto voters, Coinbase poll says With a net worth of $206 billion — driven higher by a recent rally…