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LVMH Sees Sales Surge in U.S. Amidst Global Uncertainty

LVMH Sees Sales Surge in U.S. Amidst Global Uncertainty

LVMH Sees Sales Surge in U.S. Amidst Global Uncertainty
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LVMH sales tick up as US luxury demand offsets hit from Iran war

LVMH sales tick up as US luxury demand offsets hit from Iran war

By Dominique Patton PARIS, July 27 (Reuters) - Sales at luxury giant LVMH edged higher in the second quarter as strong demand from affluent U.S. shoppers helped offset weaker spending in Europe, where tourism has been hit by the Iran war.
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LVMH's Arnault dismisses reports of family rift

LVMH's Arnault dismisses reports of family rift

By Dominique Patton PARIS, July 27 (Reuters) - Bernard Arnault, the billionaire chairman of French luxury group LVMH, has dismissed media reports of a bitter succession battle among his five children, insisting in rare public comments about his family that it remains united.
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European shares subdued as earnings boost counters tech slide

European shares subdued as earnings boost counters tech slide

July 28 (Reuters) - European shares were subdued on Tuesday as a global selloff in technology stocks was balanced by earnings-driven gains in luxury and consumer stocks, with lower oil prices lending additional support. The pan-European STOXX 600 index held its ground at 645.32, as of 0703 GMT.
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LVMH Reports 1% Growth in Fashion Sales, Signaling Recovery After Prolonged Decline

LVMH Reports 1% Growth in Fashion Sales, Signaling Recovery After Prolonged Decline

LVMH Reports 1% Growth in Fashion Sales, Signaling Recovery After Prolonged Decline
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LVMH Reports Sales Growth Driven by U.S. Luxury Shoppers Amid Strong Earnings Season

LVMH Reports Sales Growth Driven by U.S. Luxury Shoppers Amid Strong Earnings Season

LVMH Reports Sales Growth Driven by U.S. Luxury Shoppers Amid Strong Earnings Season
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As fashion stumbles, jewellery will help shape luxury's winners

As fashion stumbles, jewellery will help shape luxury's winners

By Dominique Patton and Lisa Jucca PARIS, July 27 (Reuters) - As luxury groups grapple with weak fashion sales and a hit to spending from the Middle East conflict, investors are increasingly focused on one question: who sells enough jewels?
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Manolo Blahnik Appoints Kimberly Mimnaugh as Managing Director for Americas to Drive Growth

Manolo Blahnik Appoints Kimberly Mimnaugh as Managing Director for Americas to Drive Growth

Manolo Blahnik Appoints Kimberly Mimnaugh as Managing Director for Americas to Drive Growth
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Yarrow Bioscience Completes Merger with VYNE Therapeutics and Begins Phase 2a/2b Trial for Graves' Disease Treatment

Yarrow Bioscience Completes Merger with VYNE Therapeutics and Begins Phase 2a/2b Trial for Graves' Disease Treatment

Yarrow Bioscience Completes Merger with VYNE Therapeutics and Begins Phase 2a/2b Trial for Graves' Disease Treatment
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China's CXMT Surpasses $500 Billion Valuation, Challenges U.S. Chipmakers

China's CXMT Surpasses $500 Billion Valuation, Challenges U.S. Chipmakers

ChangXin Memory Technologies (CXMT), a leading Chinese semiconductor manufacturer, has achieved a market valuation exceeding $500 billion following its IPO on the Shanghai stock market. This positions CXMT as a formidable competitor to U.S. chipmakers like Micron Technology. The company, which holds a significant share of the global DRAM market, plans to use the IPO proceeds for equipment upgrades and research. Notably, Apple has begun testing CXMT's memory chips for its devices in China, indicating a potential shift in the competitive landscape of the semiconductor industry.
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Novartis Reports Q2 Sales Growth and Pipeline Advancements

Novartis Reports Q2 Sales Growth and Pipeline Advancements

Novartis Reports Q2 Sales Growth and Pipeline Advancements
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China Imposes $765 Million Penalty on Trip.com for Monopolistic Practices

China Imposes $765 Million Penalty on Trip.com for Monopolistic Practices

China's State Administration for Market Regulation has levied a substantial penalty of nearly 5.2 billion yuan ($765 million) on Trip.com Group, the country's largest online travel platform, for monopolistic conduct. The investigation, which began in January, revealed that Trip.com had been abusing its dominant market position since 2020. The company was found to have restricted market competition by entering into exclusive partnerships with certain hotels and offering them prioritized traffic allocation. Additionally, Trip.com prohibited some hotels from collaborating with competing platforms and required hotel operators to ensure the lowest rates on their platform. The regulator confiscated illegal gains of over 1.6 billion yuan ($245 million) and imposed a fine exceeding 3.5 billion yuan ($520 million). Trip.com was also ordered to refund approximately 122 million yuan ($18 million) withheld from hotel operators. The company has acknowledged the decision and committed to implementing rectification measu...