Europe’s luxury stocks have room to rise, but are becoming costly

LONDON, Jan 31 (Reuters) – Europe’s glittering luxury companies, the region’s top stock-market performers in 2023, may see yet more gains driven by a rebound in Chinese spending, but for some the sector is starting to look expensive. The likes of French luxury giant and Louis Vuitton-owner LVMH, and Swiss jewelry company Richemont (CFR.S), have … Read more

Analysis: Europe Inc earnings season a test for market optimism

LONDON, Jan 23 (Reuters) – Europe’s upcoming corporate earnings season is likely to show whether the renewed optimism about the economy that has buoyed equities in recent weeks is grounded in reality. The pan-European STOXX index (.STOXX) is up 6% since the start of the year, hitting its highest since April after better-than-expected economic data … Read more

Luxury giant LVMH hits 400 billion euros in market value

MILAN, Jan 17 (Reuters) – LVMH (LVMH.PA) shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalization of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe’s most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has … Read more

Exclusive: India alleges France’s Pernod violated Delhi city rules to boost market share

Pernod facing many legal, regulatory challenges in India Company allegedly helped Delhi retailers get loans from HSBC Retailers in return stocked more Pernod goods-Indian agency Pernod denies allegations, says he will cooperate with authorities NEW DELHI, Jan 13 (Reuters) – Pernod Ricard (PERP.PA) violated the liquor policy of India’s capital city by financially supporting retailers … Read more

LVMH names new Louis Vuitton CEO, puts Arnault’s daughter in charge of Dior

Delphine Arnault to become CEO of Christian Dior Pietro Beccari to replace Michael Burke at Louis Vuitton Burke to continue working with Arnault PARIS, Jan 11 (Reuters) – LVMH (LVMH.PA) Chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family’s grip with the appointment of his daughter Delphine … Read more

US FTC probes Pepsi, Coca-Cola over price discrimination – Politico

Jan 9 (Reuters) – Beverage giants Coca-Cola Co (KO.N) and PepsiCo Inc (PEP.O) are under preliminary investigation by the US Federal Trade Commission (FTC) over potential price discrimination in the soft drink market, Politico reported on Monday citing sources. The pricing strategies of both companies are being scrutinized under the Robinson-Patman Act, the report said. … Read more

India’s largest winemaker Sula Vineyards falls 5% in market debut

BENGALURU, Dec 22 (Reuters) – Sula Vineyards Ltd ( SULA.NS ) fell more than 5% on its trading debut on Thursday, valuing the wine maker at 28.51 billion rupees ($344.56 million), after drawing a weaker-than-expected response to its initial public offering last week. The stock listed at 361 rupees on the National Stock Exchange, at … Read more

Exclusive: PepsiCo to roll out 100 Tesla Semis in 2023, exec says

NEW YORK/SAN FRANCISCO, Dec 16 (Reuters) – PepsiCo plans to roll out 100 heavy-duty Tesla Semis in 2023, when it will start using the electric trucks to make deliveries to customers like Walmart and Kroger, the soda maker’s top fleet official told Reuters on Friday. PepsiCo Inc (PEP.O), which ordered the big trucks in 2017, … Read more

Musk cashes out another $3.6 billion in Tesla stock

Sale brings Musk’s total selling to almost $40 billion Tesla stock marks lowest close in two years Investors frustrated at Musk’s selling and focus on Twitter Dec 15 (Reuters) – Tesla (TLSA.O) boss Elon Musk disclosed another $3.6 billion in stock sales on Wednesday, taking his total near $40 billion this year and frustrating investors … Read more

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes

Dec 7 (Reuters) – Twitter owner and Tesla ( TSLA.O ) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the … Read more