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

Wall Street totters after mixed earnings, trade halt glitch

SEC investigating NYSE opening bell glitch 3M slides on downbeat Q1 forecast J&J falls on sales warning; GE down on weak profit view Microsoft to report quarterly earnings after market close Indexes: Dow up 0.18%, S&P 500 off 0.13%, Nasdaq down 0.25% NEW YORK, Jan 24 (Reuters) – Wall Street was mixed on Tuesday as … Read more

Exclusive: Geely plans to turn maker of London black cabs into EV powerhouse

COVENTRY, England, Jan 23 (Reuters) – China’s Geely (0175.HK) is planning a big investment to turn the maker of London’s iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, executives at the unit told Reuters. The London Electric Vehicle Company (LEVC) also aims to expand its suite of … 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

Sex pills, designer clothes found in mafia boss Messina Denaro’s hideout

Messina Denaro caught after 30 years on the run Apartment found in Western Sicilian town Doctor who prescribed cancer treatment under investigation PALERMO, Italy, Jan 17 (Reuters) – Perfumes, designer clothes and sex pills were found on Tuesday in an apartment which investigators believe was the last hideout of Sicilian mafia boss Matteo Messina Denaro, … 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

Adidas loses NY trial against Thom Browne over three-stripe design

Jan 12 (Reuters) – A Manhattan jury on Thursday said Adidas AG (ADSGn.DE) had failed to show luxury brand Thom Browne Inc’s use of stripes on its clothing infringed the sportswear giant’s signature three-stripe trademark. The jury found the fashion house’s parallel stripe designs were not likely to cause consumer confusion with Adidas’ products, ending … 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

S&P 500 near flat as investors weigh chances of less aggressive rate hikes

Tech shares gain Macy’s, Lululemon drop on holiday-quarter warnings Indexes: Dow down 0.3%, S&P 500 down 0.1%, Nasdaq up 0.6% NEW YORK, Jan 9 (Reuters) – The S&P 500 index (.SPX) erased early gains to close nearly flat on Monday as expectations that the Federal Reserve will become less aggressive with its interest rate hikes … Read more

Old Nazi map sparks treasure hunt in the Netherlands

OMMEREN, the Netherlands, Jan 6 (Reuters) – An old map believed to mark the spot where German soldiers hid treasure worth millions of euros during World War Two sparked the imagination of amateur treasure hunters in the Netherlands this week. Armed with metal detectors and shovels, groups wandered through the fields surrounding rural Ommeren in … Read more