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☆ LVMH's Berluti to design Olympics opening ceremony uniforms for French teams
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

The new logo of Paris 2024 Olympics is seen on a pin during a ceremony in Paris, France, October 21, 2019. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsPARIS, Nov 16 (Reuters) - Luxury giant LVMH's (LVMH.PA) Berluti brand will design the summer Olympics and Paralympics opening ceremony uniforms for the French teams, boosting the profile of the upscale menswear label known for buffed leather shoes and tailored suits. Antoine is credited with negotiating LVMH's 150 million euros ($166 million) worth Olympics sponsorship deal initially announced in July. Paris, which has hosted two previous Olympics, will stage the summer Games after a 100 years. LVMH's sponsorship includes its top fashion brands Louis Vuitton and Dior, as well as Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event.

Persons: Pascal, Antoine Arnault, Bernard Arnault, Antoine, Louis Vuitton, Moet Hennessy, Chaumet, Leon Marchand, Melanie de Jesus dos Santos, Enzo Lefort, Pauline Deroulede, Mimosa Spencer, Nivedita Organizations: REUTERS, Rights, Louis, Dior, Thomson Locations: Paris, France, Tokyo

☆ These luxury stocks won't lose their luster even as sales growth slows to pre-pandemic levels
▼ + stars: | 2023-11-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +13 min

After three years of record growth, luxury companies are feeling the pain as sales slow to a more normal pace. Nowhere have the struggles of the luxury sector been more prominent than in the French conglomerate LVMH Moet Hennessy Louis Vuitton , the group's bellwether. This dynamic tends to hurt the less-prestigious luxury brands more, according to Rogerio Fujimori, an analyst at Stifel. "Chinese [consumers] are back to Southeast Asia and Japan, but there's still a long way to go in terms of Europe. LVMH and other European luxury brands have been market leaders among European equities since 2021 until the first half of 2023.

Persons: Richemont, Burkhart Grund, LVMH Moet Hennessy Louis Vuitton, Gucci, Ashley Wallace, Bernstein, Luca Sola, Rogerio Fujimori, Fujimori, Wallace, Stifel's Fujimori, there's, Richemont's Grund, —, Fujimori foresees, we've, Hermes, Brunello, Thomas Chauvet, Louis Vuitton, Brunello Cucinelli, LVMH, Dior, Markus Hansen, Hansen, America's Wallace, It's, Vontobel's Hansen, — CNBC's Michael Bloom Organizations: Cartier, Bank of America, U.S, U.S ., EU, Europe, Citi, Bank, Gucci, Bottega Locations: U.S, Europe, Japan, China, Southeast Asia, China's, Thursday's, Kering

☆ LVMH to Buy Eyewear Brand Favored by the Stars
▼ + stars: | 2023-11-05 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Bernard Arnault, head of LVMH, has a net worth larger than those of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty ImagesPARIS— LVMH Moët Hennessy Louis Vuitton has agreed to buy Los Angeles-based eyewear maker Barton Perreira , part of the luxury conglomerate’s push to extend its reach to goods with mass-market appeal. Eyewear has emerged in recent years as one of the first purchases that aspiring luxury consumers make before moving on to more expensive items such as handbags. That is prompting LVMH and other luxury-goods companies to wean themselves off licensing agreements with third-party manufacturers and develop in-house eyewear operations.

Persons: Bernard Arnault, Elon Musk, Jeff Bezos, Nick Kostov, Nicholas Kamm, LVMH Moët Hennessy Louis Vuitton, Barton Perreira, LVMH Organizations: Agence France, PARIS Locations: Los Angeles

Dimon and his family intend to sell 1 million of their 8.6 million shares, according to the filing. That is a tiny percentage of the shares outstanding in JPMorgan which has a market capitalization exceeding $409 billion, according to LSEG data. Dimon has no current plans to sell more stock, but could consider doing so in the future, the spokesman added. Shares of JPMorgan slid more than 3%, falling with peers Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N). So far this year, JPMorgan shares have risen 1.4%, outperforming the S&P 500 Banks Index (.SPXBK), which has declined 18%.

Persons: JPMorgan Chase, Jamie Dimon, Dimon, Octavio Marenzi, Marenzi, they're, Schumer, Evelyn Hockstein, Wells, Brian Mulberry, Mulberry, Ben Silverman, Mike Mayo, James Gorman, Morgan Stanley, Peter Orszag, Dave Ellison, Hennessy, Scott Siefers, Piper Sandler, Siefers, Niket, Lananh Nguyen, Nupur Anand, Shilpi Majumdar, Shinjini Ganguli, Mike Harrison, Jonathan Oatis Organizations: JPMorgan, First Republic Bank, Forbes, U.S, Capitol, REUTERS, Bank of America, Citigroup, Zacks Investment Management, Wells, Wall Street, Lazard, Hennessy Funds, Banks, Thomson Locations: U.S, America, Washington , U.S, Wells Fargo, Bengaluru, Lananh, New York

☆ Leonardo da Vinci's vineyard closed to public by its billionaire owner
▼ + stars: | 2023-10-17 | by ( Julia Buckley | ) edition.cnn.com time to read: +7 min

La Vigna di Leonardo – or Leonardo’s Vineyard – is said to be what remains of the Milan vineyard owned by Leonardo da Vinci. He bought the Casa degli Atellani – two 15th-century conjoined houses in whose back garden the vineyard sits – in December 2022. The land Da Vinci fought forThe Casa degli Atellani has been bought by billionaire Bernard Arnault. But da Vinci didn’t forget his vineyard, writing notes about it in his “Codex Atlanticus” and successfully arguing for its return to him in 1507. “I hope the Casa degli Atellani and Leonardo da Vinci’s vineyard will remain open to the public,” she said.

Persons: we’ll, Stanley Tucci, Leonardo –, –, Leonardo da Vinci, delle, Vinci, Bernard Arnault, Arnault, Louis Vuitton, Moët Hennessy, Da Vinci, Ludovico ‘ Il Moro ’ Sforza, Sforza, ”, It’s, Leonardo, Luca Beltrami waded, Beltrami, da Vinci, Piero Portaluppi, Francesca Grignaffini, Atellani, Leonardo itineraries, wasn’t, Italy ’, LVMH, Francesca Caruso, she’s, Leonardo da, “ I’ve, Milan Organizations: CNN, intel, Louis, Casa, Independent, Agency, Alamy Locations: Milan, Santa, da Vinci, France, candia, Italy, Arnault, LVMH, Lombardy

☆ Posting About Israel and Palestine Is Not a Moral Obligation - The New York Times
▼ + stars: | 2023-10-17 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +3 min

Sitting with uncertainty is hard, especially when social media has primed us to expect perfect real-time information during traumatic events and to want instantaneous answers and resolution. Knee-jerk social media posts are not what bother me most, though. Instead, it’s the idea that not posting is wrong somehow — that everyone needs to speak, all the time. It implies it’s not OK to have any uncertainty about what’s going on or any kind of moral analysis that does not lend itself to presentation in a social media post. If the destruction of Gaza is not the goal, it is a very real possibility, and that should be equally unacceptable.

Persons: ”, LVMH Moët Hennessy Louis Vuitton Organizations: Hamas Locations: Israel, Manhattan, Gaza

☆ Vodafone, Three execs tell lawmakers their UK merger will benefit 5G, jobs
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Branding is displayed for Vodafone at one of its stores in London, Britain, June 14, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Executives from Vodafone (VOD.L) and CK Hutchison's (0001.HK) Three UK unit said their 15 billion pound ($18 billion) merger would benefit Britain's consumers, infrastructure and jobs, as lawmakers scrutinise the planned tie-up. Vodafone and Three UK have pledged to invest 11 billion pounds to build a 5G network for Britain as part of their bid to secure backing from politicians, unions and competition authorities for the merger announced in June. They warned that without the deal, Britain's 5G network would continue to lag that of other European nations. "Neither us nor Vodafone can invest sufficiently to build the type of 5G network that's needed," Three's Chief Technical Officer David Hennessy said.

Persons: Toby Melville, CK Hutchison's, Nicki Lyons, David Hennessy, Stephen Lerner, Sarah Young, Mark Potter Organizations: Vodafone, REUTERS, HK, Trade, VM O2, Telefonica, Liberty Global, Thomson Locations: London, Britain

☆ 'Wolf in cashmere' Bernard Arnault loses his slot as the world's 2nd-richest man to Jeff Bezos as LVMH stock slips
▼ + stars: | 2023-10-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Jeff Bezos overtook LVMH tycoon Bernard Arnault as the world's second-richest man, per Bloomberg. AdvertisementAdvertisementLVMH founder Bernard Arnault is no longer the world's second-richest person, with his total wealth falling below Jeff Bezos' net worth amid signs of a slowdown in demand for luxury goods. In contrast, Bezos' fortune has ballooned by $49 billion to $156 billion, putting him just ahead of Arnault's $155 billion on Bloomberg's rich list. AdvertisementAdvertisementBoth Bezos and Arnault have previously held the title of the world's richest person, but they currently trail Elon Musk. The controversial X owner's personal fortune has swelled by $97 billion to $234 billion this year, thanks to Tesla's stock price surging by over 100%.

Persons: Jeff Bezos, Bernard Arnault, —, Louis Vuitton, Hennessy —, Bezos Organizations: Bloomberg, Service, Federal, Elon

☆ I am bullish on stocks, says Hennessy Funds' Neil Hennessy
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI am bullish on stocks, says Hennessy Funds' Neil HennessyNeil Hennessy, Hennessy Funds chief market strategist, joins 'The Exchange' to discuss the eight companies driving the success in indexes, favorite mid-cap equities to invest in, and the strength of markets to avoid recession.

Persons: Hennessy, Neil Hennessy Neil Hennessy Organizations: Hennessy Funds

☆ Consumer data is more positive than sentiment, says Bankrate's Ted Rossman
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumer data is more positive than sentiment, says Bankrate's Ted RossmanTed Rossman, senior industry analyst at Bankrate, and Neil Hennessy, Hennessy Funds chief market strategist, join 'The Exchange' to discuss consumer names to watch, consumer credit risk, and cracks starting to emerge in consumer spending health.

Persons: Ted Rossman Ted Rossman, Neil Hennessy, Hennessy Organizations: Hennessy Funds

☆ Birkenstock's stock loses footing in second day on Wall Street
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/ File Photo Acquire Licensing RightsOct 12 (Reuters) - Shares of Birkenstock (BIRK.N) dropped 6% on Thursday, deepening losses after the German luxury sandal seller stumbled the day before in its Wall Street debut. In its first session on Wall Street on Wednesday, Birkenstock tumbled over 12% from the $46 price set in its initial public offer, raising $1.48 billion. Last trading at about $37.79 on Thursday, the stock has now dropped 18% from its IPO price. The second-day drop in Birkenstock shares was deeper than a broad Wall Street sell-off, with the S&P 500 (.SOX) last down about 1%. Arm on Thursday slumped 5.2% to $51.70, just above its $51 IPO price on Sept. 13, while Instacart was down 1.7% at $24.52, well below its $30 IPO price on Sept. 18.

Persons: Toby Melville, Birkenstock, Instacart, Bernard Arnault, Louis Vuitton Moet Hennessy, Javier Gonzalez Lastra, Noel Randewich, Lance Tupper, Jonathan Oatis Organizations: REUTERS, SOX, Arm Holdings, Thomson Locations: London, Britain, U.S, French, Tema

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Based on the low end of the range, Birkenstock could be valued at as low as $8.5 billion. Their shares have, however, given up gains since going public, muddying the outlook for the IPO market. As of Tuesday's close, Instacart shares were 10% below their IPO price. The company had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30.

Persons: Fabrizio Bensch, Bernard Arnault, Louis Vuitton Moet Hennessy, Susannah Streeter, Hargreaves Lansdown, Margot Robbie, Barbie, Tommy Tranfo, Tranfo, Birkenstock, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Arm Holdings, Hargreaves, Reuters, Reuters Graphics, Thomson Locations: Berlin, Germany, French, Langen, Bengaluru

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. The company's IPO raised $1.48 billion after its 32.3 million shares were conservatively priced at $46 apiece, positioning the 250-year-old brand for a smooth market debut. "Arguably, this should position Birkenstock more favorably in an environment where real interest rates are high and still rising. Birkenstock had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30. The brand has partnerships deal with luxury fashion brands, including Dior, Stüssy, Manolo Blahnik and Rick Owens.

Persons: Fabrizio Bensch, Susannah Streeter, Hargreaves Lansdown, Birkenstock, Javier Gonzalez Lastra, France's Bernard Arnault, Louis Vuitton Moet Hennessy, Margot Robbie, Barbie, Michael Ashley Schulman, Tommy Tranfo, Tranfo, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Hargreaves, Arm Holdings, Tema, Reuters Graphics, Running, Capital Advisors, Thomson Locations: Berlin, Germany, Langen, Bengaluru

☆ LVMH sales growth loses fizz as post-pandemic splurge wanes
▼ + stars: | 2023-10-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

People walk past the Louis Vuitton store at Miami Design District, in Miami, Florida, U.S. November 30, 2021. REUTERS/Marco Bello Acquire Licensing RightsPARIS, Oct 10 (Reuters) - Luxury goods bellwether LVMH (LVMH.PA) reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as a strong wave of post-pandemic spending eases due to rising inflation and economic turbulence. “After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average", LVMH chief financial officer Jean-Jacques Guiony told analysts. The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth. LVMH is the first major global luxury firm to report earnings this quarter and gives investors an insight into what to expect from rivals.

Persons: Louis Vuitton, Marco Bello, Jean, Jacques Guiony, Tiffany, Bulgari, Hennessy, Luca Solca, Bernstein, Guiony, Mimosa Spencer, Ingrid Melander, Josie Kao Organizations: Miami Design District, REUTERS, Rights, Dior, Champagne, drugmaker Novo Nordisk, U.S ., Thomson Locations: Miami , Florida, U.S, United States, Europe, China

☆ LVMH shares fall to 2023 low as growth slows, pulling luxury sector down
▼ + stars: | 2023-10-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of LVMH dropped to their lowest level of the year on Wednesday morning, after the company reported a slowdown in revenue growth that was below expectations. Earlier in the session it fell to 683.2 euros, its lowest level since Dec. 29, 2022, according to LSEG data. The world's largest luxury firm, seen as a bellweather for the industry, posted nine-month and third quarter results after the market close on Tuesday. The report showed quarterly revenue growth of 9% year-on-year, a sharp fall from 17% in the second quarter. Revenue was up 14% in the first nine months of 2023, versus 20% growth in the same period of last year.

Organizations: Analysts, Revenue Locations: London, U.S

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsNEW YORK, Oct 10 (Reuters) - German premium footwear maker Birkenstock Holding (BIRK.N) priced its U.S. initial public offering (IPO) at the middle of its indicated price range at $46 per share, the company said on Tuesday. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers. After the IPO, L Catterton will hold an 82.8% stake in Birkenstock and control a majority of the combined voting power of its outstanding shares. Birkenstock's shares will start trading on Wednesday on the New York Stock Exchange under the ticker "BIRK".

Persons: Fabrizio Bensch, Birkenstock, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Anirban Sen, Echo Wang, Dimpal Gulwani, Lisa Shumaker Organizations: REUTERS, Birkenstock, underwriters, Arm Holdings, New York Stock Exchange, JPMorgan, Thomson Locations: Berlin, Germany, Langen, French, Birkenstock

☆ LVMH Q3 revenue rises 9%, slowing from post-pandemic frenzy
▼ + stars: | 2023-10-10 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

People walk past the Louis Vuitton store at Miami Design District, in Miami, Florida, U.S. November 30, 2021. REUTERS/Marco Bello Acquire Licensing RightsPARIS, Oct 10 (Reuters) - Luxury goods bellwether LVMH (LVMH.PA) reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as strong wave of post-pandemic spending eases up amid a backdrop of rising inflation and economic turbulence. LVMH, which owns labels including Louis Vuitton, Dior, Tiffany and Bulgari, said that revenue came to 19.96 billion euros ($21.16 billion), up 9% year-on-year, stripping out the effect of currency fluctuations and acquisitions. The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth. LVMH is facing slowing demand for high end goods in the United States and Europe, where rising prices have prompted shoppers — especially younger generations — to pull back from a post-pandemic spending euphoria, while the recovery in China has been uneven.

Persons: Louis Vuitton, Marco Bello, Tiffany, Bulgari, Hennessy, LVMH, Luca Solca, Bernstein, Mimosa Spencer, Ingrid Melander, Josie Kao Organizations: Miami Design District, REUTERS, Rights, Dior, Champagne, drugmaker Novo Nordisk, Thomson Locations: Miami , Florida, U.S, United States, Europe, China

1 Permian shale producer Pioneer Natural Resources (PXD.N) could further restrain output growth in the largest U.S. oilfield, squeezing pipeline companies and suppliers, executives and energy advisors said. Consolidation, steep cost inflation and investor demands for returns have shrunk production growth this year in the Permian shale formation in West Texas and eastern New Mexico. U.S. oil producers are pumping more oil, but the pace of growth has slowed due to lower drilling activity. Overall, oil companies have cut 36 active drilling rigs in the Permian in the last year, a 10% drop. Recent shale consolidation, including Civitas Resources (CIVI.N) and Callon Petroleum-Percussion (CPE.N), also led to reductions in the combined companies' active drilling rigs.

Persons: Exxon Mobil's, they've, Ajay Bakshani, Darren Woods, Ben Crook, East Daley's Bakshani, Webster, Robert Webster, Arathy Somasekhar, Arunima Kumar, Marguerita Choy Organizations: U.S, Exxon, Natural Resources, Reuters, Daley Analytics, Civitas Resources, Callon Petroleum, roughnecks, Hennessy Energy, Fund, Targa Resources, Energy, East, Plains, Oil, Thomson Locations: West Texas, New Mexico, Houston, Bengaluru

Birkenstock would end up raising $1.58 billion at the top of the range. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. This helps explain why Birkenstock is not inclined to raise its IPO price range despite the strong initial investor demand. To leave less to chance, Birkenstock launched the roadshow for its IPO last week with some investors lined up. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers.

Persons: Birkenstock, Financière Agache, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Anirban Sen, Chris Reese Organizations: Birkenstock Holding, U.S, Arm Holdings, Nike Inc, Partners, Norges Bank Investment Management, Thomson Locations: New York, Langen, French, Birkenstock

☆ What Wall St, policymakers have to say on potential Exxon-Pioneer deal
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. A deal would be Exxon's biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the oil major's position in the country's most lucrative oil patch. Following are the comments on the likely deal. BILL SMEAD, CHIEF INVESTMENT OFFICER OF SMEAD CAPITAL MANAGEMENT"I can't imagine any deal is going to go for less than $65 billion, considering Pioneer is currently trading around $50 billion . I mean there's no question the position of that magnitude or size would give them considerable leverage in negotiating or contracts with the service providers."

Persons: Lucas Jackson, BILL SMEAD, PETER MCNALLY, Scott Sheffield, SHELDON WHITEHOUSE, BEN COOK, HENNESSY, NEAL DINGMANN, Arunima Kumar, Sourasis Bose, Sabrina Valle, Raphael Satter, Arun Koyyur Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Exxon Mobil, Natural Resources, Mobil, RBC, RHODE, Exxon, Thomson Locations: New York, United States, Bengaluru, Houston

☆ Exxon-Pioneer deal talks: What Wall St, policymakers have to say
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +4 min

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. It would be Exxon's biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the oil major's position in the country's most lucrative oil patch. MATTHEW BERNSTEIN, SENIOR SHALE ANALYST, RYSTAD ENERGY"If Exxon Mobil is crowned the undisputed king of the Permian in the coming days, the shale sector will fundamentally become a more mature consolidated business." "A deal the size of Exxon Mobil's potential acquisition of Pioneer, however, could usher in a new 'Shale 4.0' era ... BILL SMEAD, CHIEF INVESTMENT OFFICER OF SMEAD CAPITAL MANAGEMENT"I can't imagine any deal is going to go for less than $65 billion, considering Pioneer is currently trading around $50 billion .

Persons: Lucas Jackson, MATTHEW BERNSTEIN, MARK VIVIANO, Scott Sheffield, BILL SMEAD, PETER MCNALLY, SHELDON WHITEHOUSE, BEN COOK, HENNESSY, NEAL DINGMANN, Arunima Kumar, Sourasis Bose, Sabrina Valle, Raphael Satter, David French, Sriraj Kalluvila, Arun Koyyur Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Exxon Mobil, Natural Resources, Mobil, Exxon, RBC, RHODE, Thomson Locations: New York, United States, Bengaluru, Houston

☆ No college, no problem. Tiffany's wants Gen Zers to make luxury jewelry.
▼ + stars: | 2023-10-05 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

The company's owner, luxury goods giant LVMH Moët Hennessy Louis Vuitton, is expanding a program that trains people to become artisans who can make Tiffany's high-end jewelry. The company said Thursday it's begun a two-year bench jewelry apprenticeship program involving Tiffany and the Rhode Island School of Design. The move comes as Gen Zers rethink the idea of college as costs skyrocket and US student-loan payments are resuming following a pandemic hiatus. The programs work with colleges and universities to help conduct the training. LVMH has used apprenticeship programs to help develop the skilled artisans it needs for its brands.

Persons: Tiffany, —, Moët Hennessy Louis Vuitton, Gena Smith, it's, Smith, LVMH, Johnny Vacar, It's, they'd Organizations: Service, Tiffany, Rhode Island School of Design, Data Initiative, Tiffany's, Louis Vuitton Locations: Europe, North America, Island, York, LVMH's, Japan, San Francisco

☆ LVMH boss Bernard Arnault under investigation in Paris over Russian oligarch transactions
▼ + stars: | 2023-09-29 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, attends a news conference to present the 2022 annual results of LVMH in Paris, France, January 26, 2023. The prosecutor's office declined to comment further on the ongoing investigations. The Paris public prosecutor's office is investigating LVMH CEO Bernard Arnault over financial transactions involving Russian oligarch Nikolai Sarkisov. "All transactions were carried out by French companies, through French notaries by French lawyers on all sides. He added that neither the company nor Sarkisov had received any request for documents from French authorities.

Persons: Bernard Arnault, LVMH Moet Hennessy Louis Vuitton, Le, Sarkisov, France's, Nikolai Sarkisov, Arnault, Igor Ivanov, Ivanov, LVMH Organizations: LVMH, CNBC Locations: Paris, France, Arnault, Belgium, Courchevel

☆ Portfolio manager discusses U.S. economy, prospects of a hard landing
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy: I'm surprised some think a hard landing is off the table, portfolio manager saysDavid Rainey of Hennessy Focus Fund says "historically in the U.S., it's taken two to three years of restrictive monetary policy to break the back of inflation."

Persons: David Rainey, Hennessy, it's Organizations: U.S Locations: U.S

☆ Costco, Lowe's, Best Buy, and Tractor Supply are winning the battle against retail theft in a strikingly similar way
▼ + stars: | 2023-09-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Retail executives generally agree that retail theft is worse than they've ever seen. Even so, leaders from Costco, Lowe's, Best Buy, and Tractor Supply have said their businesses aren't so affected. The companies have five striking similarities that are helping them win the war on retail theft. "Organized retail crime is worse now than I've ever seen it," Tractor Supply CEO Hal Lawton told Insider in August. Meanwhile, a typical Tractor Supply location may have as many as eight people working in a relatively small, 20,000 square-foot store.

Persons: Hal Lawton, I've, Marvin Ellison, Corie Barry, Richard Galanti, We've, Lawton, Dominick Reuter, John Tlumacki, Ben Tobin, they're, Paul Hennessy, Lowe's, Mario Tama, Barrie, Ellison Organizations: Costco, Lowe's, Tractor Supply, Service, Goldman Sachs, Conference, Supply, Massachusetts Costco, Boston Globe, Getty, Electronics, Retailers, Tractor Locations: Wall, Silicon, Massachusetts, Costco, Orlando

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