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

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

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

US retail sales grow 7.6% in holiday season – Mastercard data

Dec 26 (Reuters) – US retail sales rose 7.6% between Nov. 1 and Dec. 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday. The increase is higher than the 7.1% growth Mastercard (MA.N) had forecast in September, when it anticipated consumers would pull … Read more

The world fears a new China COVID wave, ponders how to help Xi

WASHINGTON, Dec 20 (Reuters) – Officials and global health experts outside China are anxiously watching a COVID-19 surge there, worried a nation of 1.4 billion people is inadequately vaccinated and may not have the healthcare tools to treat a wave of illness expected to kill more than one million people through 2023. Some US and … 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