DIRS.INFO The most relevant business & tech news

SummarySummary Companies Britain's house prices show weak rise in AprilBunelm gains on Stifel upgradeMedica Group surges on buyout dealFTSE 100 down 0.2%, FTSE 250 adds 0.2%April 24 (Reuters) - London's FTSE 100 fell on Monday as energy stocks and base metal miners lost ground on weak demand outlook, while caution set in ahead of a busy week of earnings. Oil giants BP (BP.L) and Shell (SHEL.L) lost 0.9% and 1.2%, respectively, as crude prices fell more than 1% on concerns about rising interest rates, global economic slowdown and fuel demand outlook. The FTSE 100 (.FTSE) fell 0.2%, while the mid-cap FTSE 250 (.FTMC) was up 0.2%, as of 0821 GMT. Growth companies, including Microsoft Corp (MSFT.O), Google parent Alphabet Inc (GOOGL.O) and Amazon.com Inc (AMZN.O), are scheduled to report their earnings this week. The FTSE 100 logged its fifth consecutive weekly rise on Friday, marking its longest streak of weekly gains in more than a year, buoyed by commodity stocks, even as weak global economic growth outlook keeps investor sentiment subdued.

☆ Fashionphile founder and CCO explains why that 'ludicrously capacious' bag from 'Succession' had a 310% spike in online searches
▼ + stars: | 2023-04-23 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Since "Succession" character dubbed this Burberry bag "ludicrously capacious," search for the brand has spiked. One of the show's central characters, Tom Wamsgans, scoffs at the luxury bag, describing it as "ludicrously capacious." Tom Wamsgans' comment about another character's "ludicrously capacious" bag in season four of "Succession" went viral. Macall B. Polay/HBOIn the weeks since the episode aired, searches for "Burberry tote bag" have jumped 310%, according to virtual fitting room company 3DLOOK, per Harper's Bazaar UK. Searches for "Burberry handbag" are up 180%, while "Burberry tote" increased 25%.

If it is just a lagged statistical quirk, then the huge disparity in March inflation rates - of some 3-5 percentage points with western peers - should narrow sharply by yearend. With an election due next year, that may prove a big factor in any re-convergence of inflation rates if the cost of that is a much deeper economic downturn that rest. The question about Britain as an inflation outlier re-opens the age-old issue about just how that should be priced into sterling. For much of the past 10 years, G7 inflation rates were largely locked together in either their subdued pre-pandemic state or during the wild price spikes since. If UK inflation turns "idiosyncratic" among its peers during the much-vaunted normalization, then currency markets may need to rethink fundamental long-term assumptions about purchasing power, Gallo reckons.

☆ French police working with EU on luxury antitrust probe
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 21 (Reuters) - French police are involved in an ongoing investigation relating to a probe by EU antitrust regulators into possible violations by European luxury companies, a police spokesperson said on Friday. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in multiple EU countries, but did not name the companies involved or specify the potential breaches it was investigating. Reuters reported on Wednesday that the Milan headquarters of Gucci, owned by Kering (PRTP.PA), had been inspected by Italian tax police and EU antitrust officials as part of the probe. Kering confirmed the inspection and said it was fully cooperating with the European Commission. Asked by Reuters if French companies had also been targeted by the EU inspections, which would be conducted in cooperation with local authorities, a police spokesperson said: "We're in an ongoing investigation", declining to elaborate.

☆ Oryx Hotel at Hamad International Airport: One of the world's most luxurious transit hotels
▼ + stars: | 2023-04-20 | by ( Lilit Marcus | ) edition.cnn.com time to read: +7 min

Passengers transiting through Hamad International Airport in Qatar’s capital can choose to leave the airport and join a free tour of some of the capital’s most famous attractions, including Souq Waqif and the Golden Masjid. Case in point: The Oryx lounge is just one floor (second) below the Oryx hotel (third), which means that a staff member is employed to hang out in the hotel lobby to run interference for lost travelers. “Hamad International Airport operates as a 24-hours, seven-days-a-week facility and therefore all the different passenger touchpoints follow the same timeline,” says Badr Mohammed Al Meer, chief operating officer for the airport. “We are constantly striving to offer the best and bespoke experiences for travelers, including our airport hotel offering. Considering that an average of 40 million people pass through Hamad International Airport per year, there is high demand for rooms at the Oryx.

☆ Luxury stocks are on a tear and now there's an index to follow the 1%
▼ + stars: | 2023-04-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Luxury stocks are on a tear, and they are pulling away from the other 99% of the world. Birinyi Associates sees an opportunity. LVMH is the largest luxury firm in the world. Rubin and Birinyi have created two new indexes to monitor all this money: the "1% Index" that consists of 16 luxury stocks, and the "99% Index" made up of 18 stocks that is, well, where the rest of us shops. Since the beginning of April, the 99% is making a comeback: The 1% vs. the 99% (since April 1) 1% index: + 3% 99% index: + 12% Source: Birinyi Associates What's happening?

☆ This France ETF is booming despite domestic turmoil. Thank the Chinese consumer
▼ + stars: | 2023-04-19 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

EWQ ALL mountain The iShares MSCI France ETF is trading at close to its all-time high. To be sure, the outsized rallies for luxury stocks — and new highs for the fund — could also be a sign that a reversal is near, at least in the short-term. However, Roth MKM chief market technician JC O'Hara said in a note to clients on Sunday that it appears that luxury stocks still have room to run. "We first highlighted the strength of the Luxury Goods market in early December. Since that time, the S & P Global Luxury Goods Index has risen +13%, versus the S & P 500, +1.8%.

☆ Analyst discusses U.S. bank earnings
▼ + stars: | 2023-04-19 | 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 EmailAnalyst discusses U.S. bank earningsFilippo Alloatti, head of financials at Federated Hermes, says there will eventually be a "bifurcation" between large and regional banks.

☆ 'Quiet luxury' is back for the first time since the Great Recession. Here's what it is and what brands stand to benefit.
▼ + stars: | 2023-04-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

The quiet luxury trend is dominating 2023 after years of trends like "dopamine dressing." David Russell/HBOLike most other fashion trends, the move toward quiet luxury, or "stealth wealth," is part of a cycle. Liz Hafalia/The San Francisco Chronicle via Getty ImagesAt this point, quiet luxury has become so popular that even luxury brands themselves are being asked about it. She also highlighted Italian luxury house Brunello Cucinelli, French leather goods firm Hermès, and Armani, who has been doing quiet luxury for nearly two decades. If that's a bit outside your budget, there are mass-market retailers partaking in what the quiet luxury trend is promoting: durable, sustainably made clothing in timeless fabrics and silhouettes.

☆ Here's what I want to see before buying in a stock market that stumbled on solid bank earnings
▼ + stars: | 2023-04-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I do not understand how it could be double the price of the stock when the TVB means that if you closed the bank that's what you would get. I know the stock of Wells Fargo (WFC) didn't do much after it reported. Now, I offer the story of these banks as a preamble to what I see happening in the stock market right now. I don't want to conflate a day of good bank earnings with a month of good stock prices. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ The World Is Volatile but Luxury Brands Look Serene
▼ + stars: | 2023-04-15 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Hermès is among the three luxury-goods companies that together snagged the majority of incremental revenue in 2022. In a world coping with inflation, war and bank runs, it seems counterintuitive that demand for luxury is still running hot. Yet in recent days, two big designer brands reported bumper first-quarter sales. Paris-listed Hermès said its revenue grew 23% from a year earlier in the three months through March, ahead of the 13% analysts were expecting. At LVMH Moët Hennessy Louis Vuitton—owned by Bernard Arnault , the world’s wealthiest person—sales grew 17% in the same period.

☆ Birkin bag maker Hermes sees no U.S. slowdown as sales jump 23%
▼ + stars: | 2023-04-14 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/2] A craftswoman works on a Birkin bag at the luxury goods Hermes factory in Seloncourt October 4, 2013. REUTERS/Benoit TessierPARIS, April 13 (Reuters) - Sales at Birkin bag maker Hermes (HRMS.PA) rose 23% in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil. The increase of 23%, at constant exchange rates, beat a Visible Alpha consensus for 15% growth. Hermes raised prices by around 7% at the start of the year, a higher rate than its usual 2-3% annual increase. In China, where Hermes was less affected than competitors by lockdowns that dented sales for many at the end of last year, revenues grew by 23% in the quarter.

MSCI's Europe index, for example, still trades more than a point below its average historic valuation - with the index priced at less than 13 times its 12-month forward earnings. The top sectoral weighting in the STOXX Europe 50, for example, is healthcare - at almost 23%. With British-based stocks the biggest country weighting in the STOXX Europe index at 26%, the other top four sectors in the index include the food, beverages and tobacco grouping, consumer products, industrial goods and energy. The dollar peaked late last year against most European currencies as the Federal Reserve raced to ratchet up interest rates. Some think the slide in the dollar index of some 12% since last September is barely half of the whole move.

A broad measure of European shares, the STOXX 600 index (.STOXX), is trading at 14-month highs, taking this year's gains to almost 10%. James Rutland, a European equities fund manager at Invesco, noted that consistent outflows from European shares last year, when the energy crisis dealt the region a fresh blow, had left valuations at very cheap levels. A broad index of European stocks is trading at a multiple of 12.6, compared with a ratio of 18.1 for the S&P 500, according to Refinitiv data. This 5.5 point premium is above the five-year average of around 4 points, suggesting European shares look cheap compared to their U.S. counterparts. "This has broken European stocks out of their relative downward trend, so we don't think Europe is now a structural underperformer," he said.

☆ Analysis: LVMH's caution points to Americans' waning lust for luxury
▼ + stars: | 2023-04-13 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/2] A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. European labels including LVMH's Louis Vuitton and Dior, as well as Chanel and Hermes have been riding a wave of strong demand from Americans, who emerged from lockdowns with savings and a desire to splash out on designer labels. He added the group is taking a cautious approach to price increases this year -- not just for cognac. "It's probably the most emblematic luxury store in the world," said Guiony. Elliott Savage, portfolio manager of U.S.-based fund YCG Investments, which holds shares in LVMH and other luxury brands, said a weakening U.S. luxury market in the near term could present an opportunity for dominant players to take market share.

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

☆ Credit is contracting and supply chain problems are easing, says Federated Hermes' Steve Auth
▼ + stars: | 2023-04-12 | 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 EmailCredit is contracting and supply chain problems are easing, says Federated Hermes' Steve AuthSteve Auth, Federated Hermes Equities CIO, joins 'The Exchange' to discuss leaning in to defensive stocks, retesting summer lows, and inflation numbers coming down.

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Amazon, UPS, Netflix, WW, Disney & more
▼ + stars: | 2023-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley names UnitedHealth a top pick Morgan Stanley says the healthcare company is best positioned in a recession. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley said Netflix is the "streaming winner" but that it's "priced as such." Morgan Stanley downgrades Nasdaq to equal weight from overweight Morgan Stanley said that it has growth concerns for the exchange operator. JPMorgan upgrades Federated Hermes to overweight from underweight JPMorgan said the rate environment makes the capital market company's stock more attractive. Morgan Stanley upgrades AstraZeneca to overweight from equal weight Morgan Stanley said the pharmaceutical company is "leading the race" to outsmart cancer.

☆ We forecast negative GDP growth in third and fourth quarters of '23: Federated Hermes' Orlando
▼ + stars: | 2023-04-11 | 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 EmailWe forecast negative GDP growth in third and fourth quarters of '23: Federated Hermes' OrlandoPhil Orlando, Federated Hermes’ chief equity market strategist, joins 'Power Lunch' to discuss the disconnect between core and nominal CPI, the way banks are paring back on loans and more.

☆ Finding Object Lessons via the Spirits of a Famed Artistic Couple
▼ + stars: | 2023-04-11 | by ( Ray Mark Rinaldi | ) www.nytimes.com time to read: 1 min

This article is part of our Design special report previewing 2023 Milan Design Week. When Ambra Medda and Veronica Sommaruga teamed up to create AMO, they agreed their new design venture should aim for the stars. Ms. Medda is an industry insider, a founder of Design Miami and a noted matchmaker between designers and brands. Ms. Sommaruga, a well-respected authority on textiles, has held key creative roles with companies like Vera Wang, Calvin Klein and Hermès. “We wanted to go as high as we could go,” Ms. Medda said.

☆ The 'mammoth meatball' grown in a lab probably doesn't taste like woolly mammoth at all
▼ + stars: | 2023-04-11 | by ( Morgan Mcfall-Johnsen | Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

It probably doesn't taste like woolly mammoth, a meat specialist and mammoth DNA researcher said. The Belgian startup Paleo says it added woolly mammoth myoglobin to a plant-based burger. The mammoth meatball doesn't have either of those elements from woolly mammoth. Mammoth myoglobin doesn't necessarily bring mammoth flavorThough he didn't taste it, Ryall said everyone could smell the meatball while it was cooking. So why make a mammoth meatball that doesn't taste like mammoth?

☆ A company says it added mammoth DNA to plant-based burgers and that they tasted much more 'intense' and 'meatier' than the cow version
▼ + stars: | 2023-04-07 | by ( Kelsey Vlamis | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

A Belgian startup says it added woolly mammoth DNA to a plant-based burger. The mammoth myoglobin gave it a more intense taste and aroma, and a richer color, the CEO said. But it's unclear when, if ever, mammoth protein will make it to grocery store shelves. The Belgian startup Paleo says it added woolly mammoth protein to a plant-based burger — and that the result was more intense than with cow. Sanctorum said the company added the mammoth protein to several different versions of plant-based burgers and tasted it.

☆ Explainer: How are money market funds preparing for a potential debt ceiling crisis?
▼ + stars: | 2023-04-06 | by ( John Mccrank | ) www.reuters.com time to read: +5 min

HOW BIG ARE MONEY MARKET FUNDS? Assets under management in U.S. money market funds, which include Treasury-only funds, prime funds, and government funds, totaled a record $5.2 trillion as of March 29, Investment Company Institute data showed. WHY IS THE DEBT CEILING A CONCERN FOR MONEY MARKET FUNDS? Fitch Ratings warned in February that the potential for investor redemptions and volatility in Treasury-only money market funds – as opposed to prime and government money market funds, which have other sources of funding – would rise if investors believed the government were to default. Runs on money market funds have been rare.

By offloading some of the risk on their loans, the banks can significantly reduce how much capital they need to set aside to cover potential losses, according to law firm Clifford Chance. A bank can normally transfer risks of losses equivalent to around 7% to 12% of a loan portfolio, two market sources said. With synthetic structures, a bank transfers the risk via credit derivatives or guarantees but keeps holding the underlying exposures. The IFC sold BNP a $50 million guarantee on $1 billion of loans to emerging markets, they said, without disclosing terms. While Europe has been at the forefront for risk transfers, the stock of loans covered by SRTs is small relative to European banks' balance sheets.

Vahia is one among India’s young and aspirational 1.4 billion population, whose propensity for online spending has attracted global companies and digital platforms. And as private consumption underpins economic growth in India, financial investors are targetting new ways to tap into it. India's per capita consumption of food was at $314 in 2020 compared to $884 for China, while that of clothing stood at $53.9 versus $212.9 for China, data from CLSA showed. FOREIGN INVESTORS JUMP INWith private consumption accounting for 60% of India's $3.5 trillion GDP, foreign portfolio investors have been quick to latch on. To be sure, it has not been all smooth sailing for investors as they chased India's consumption boom.

Search resuls for: "Hérmes"

25 mentions found