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Companies Hermes International SCA FollowNEW YORK, Feb 6 (Reuters) - Hermes International SCA (HRMS.PA) urged a U.S. jury on Monday to find that a creator of non-fungible tokens violated its trademark for Birkin bags, while lawyers for the "MetaBirkins" maker countered that the images were art. "He never tried to mislead anyone into believing that the MetaBirkins came from Hermes," Millsaps said, arguing that Rothschild wanted credit for the project. Warshavsky said Hermes was working on its own Birkin NFTs at the time, and accused Rothschild of "cybersquatting" by trying to beat the company to the market. He said Hermes would not have brought the lawsuit if Rothschild had complied with a December 2021 cease-and-desist letter demanding he stop selling the NFTs. Jonathan Harris, another lawyer for Rothschild, said his client added a disclaimer stating that Hermes was not associated with the NFTs after he received the letter.

☆ From Nike to Nutella: Company names you have probably been mispronouncing your whole life
▼ + stars: | 2023-02-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

Global company names often get Anglicized or Americanized to the point where they're unrecognizable, but brands could see some benefits if their names are pronounced correctly. Allianz: al-ee-anz"Allianz " is, perhaps unsurprisingly, the German word for "alliance." It isn't pronounced like the ancient Greek herald of the gods, Hermes, unlike the U.K. delivery company of similar spelling. Moët & Chandon: mow-et ey shon-donIn contrast to typical French pronunciation, there is a hard "T" sound at the end of "Moët." Heuer is the last name of the company's founder, Edouard Heuer.

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☆ Israeli drones use free-falling bombs, can carry up to a tonne
▼ + stars: | 2023-02-02 | by ( Dan Williams | ) www.reuters.com time to read: +2 min

TEL AVIV, Feb 2 (Reuters) - Israeli armed drones use gravity bombs that produce no noise or smoke as they fall, making them hard for enemies to anticipate or evade, and the largest model of the aircraft can carry up to a tonne of munitions, the military says. After more than two decades of secrecy, Israel in July went public with the existence of armed drones in its arsenal. The former, the officer said, "is the heaviest drone that the IDF (Israel Defence Forces) has, which can carry munitions, with an effective payload of around a tonne". The Israeli manufacturers do not publicise the armed capabilities of the drones, under what industry sources have described as a Defence Ministry secrecy policy. All the drone munitions are Israeli-made, the officer said, and "come down in free-fall, and can reach the speed of sound".

☆ Bond investors brace for recession as Fed expected to slow pace of tightening
▼ + stars: | 2023-01-31 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

The rally comes after Treasuries notched the worst year in their history following the Fed's most aggressive monetary policy tightening since the 1980s. Some equity investors are nevertheless playing it safe, expecting the current rally in stocks to wilt if a recession hits. For now, many investors are wedded to a more dovish view, betting that policymakers will blink if growth starts to slow. "The Fed is closer to the end than the beginning, and rates usually fall across the curve when the Fed is finished raising rates." Of course, some investors are happy to take the central bank at its word and are betting rates stay higher for longer.

☆ Europe's luxury stocks have room to rise, but becoming costly
▼ + stars: | 2023-01-31 | by ( Lucy Raitano | ) www.reuters.com time to read: +5 min

REUTERS/Sarah Meyssonnier/FilesLONDON, 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. An index of European luxury goods retailers (.dMIEU0TA00PUS) has rallied around 18% so far this year, outperforming the wider pan-European STOXX 600 (.STOXX), which is up 6.2% in the same time frame. But the fact that luxury goods companies are not as cheap as they once were is a "concern/point of attention", said Kasper Elmgreen, Head of Equities at Amundi, Europe's largest asset manager. Jelena Sokolova, senior equity analyst at Morningstar, said that China reopening is the key issue for European luxury stocks this year, and is already at least 50% priced in. These shares have more room to run higher as Chinese consumers hit the shops again and luxury companies flex their pricing power.

SINGAPORE, Jan 31, (Reuters) - Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family's wealth. His family might establish a Singapore family office to manage its wealth in the future, he added. Well-known Singapore family offices include those set up by James Dyson of vacuum cleaner fame, hedge fund manager Ray Dalio and Zhang Yong, founder of China's Haidilao hotpot restaurant chain. Though fresher statistics are not available, those involved in the industry said interest in family offices picked up in 2022 and is expected to continue unabated this year. While some are setting up family offices, others are setting up business headquarters in Singapore or investing in funds domiciled in Singapore, she said.

☆ Gucci's challenge: reigniting heat while boosting timeless appeal
▼ + stars: | 2023-01-30 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

PARIS, Jan 30 (Reuters) - Sabato De Sarno, newly appointed by Kering (PRTP.PA) to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say - a delicate task, given the emphasis executives have also put on the label's timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as creative director with reviving the fortunes of the brand that accounted for two-thirds of Kering's profits in 2021. Analysts welcomed Kering's choice of a seasoned but relatively unknown designer, noting that previous creative director Michele did not have a public profile when he was appointed in 2002. His experience at Valentino suggests a "less eccentric aesthetic" than Gucci's previous designer, noted Carole Madjo of Barclays. The designer rose through Valentino's ranks after his arrival in 2009 to become fashion director overseeing both the men's and women's collections, working closely with chief designer Pierpaolo Piccioli.

☆ Virtual Birkin Bags on Trial in Hermès Case Testing IP Rights
▼ + stars: | 2023-01-29 | by ( Erin Mulvaney | ) www.wsj.com time to read: 1 min

Hermès is seeking to stop an artist behind the virtual Birkin handbags, but the creator is arguing constitutional protections for freedom of expression. The Birkin handbag, made by French luxury brand Hermès , for decades has been a symbol of wealth, sold through exclusive shops and mysterious wait-lists at prices that reach tens of thousands of dollars or more. A self-described entrepreneur and artist in 2021 set out to offer another way to own a Birkin, with a digital nonfungible token. Mason Rothschild created a series of 100 digital images he called MetaBirkins, depicting fur-covered purses in the same shape and style as the Hermès luxury product, which he sold as digital tokens on virtual marketplaces. The NFTs sometimes have sold at prices similar to the real handbags.

PARIS, Jan 28 (Reuters) - French luxury goods group Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. "I am touched and excited to contribute my creative vision for the brand.”He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Gucci CEO Marco Bizzarri said that having worked with a number of Italy's most renowned luxury fashion houses, De Sarno "brings with him a vast and relevant experience." "Gucci - and the Kering shareholders - need courage and an original point of view." "The eyes of the world will be on him to see if he also has the required creative genius."

☆ Kering appoints De Sarno as Gucci creative director
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Gucci sign is seen outside a shop in Paris, France, January 27, 2023. REUTERS/Sarah Meyssonnier/FilesPARIS, Jan 28 (Reuters) - French luxury giant Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. I am touched and excited to contribute my creative vision for the brand,” De Sarno said in Kering's statement. He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Former creative director Alessandro Michele, known for his flamboyant and gender-fluid styles, left Gucci abruptly in November after seven years in the job, following tensions between with Kering's top management, sources told Reuters.

☆ Interest rates are high. Here’s a relatively safe way to squeeze more from your cash
▼ + stars: | 2023-01-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Be aware that money market accounts offered by a bank are subject to protection from the Federal Deposit Insurance Corp. This isn't the case with money market funds, which can't guarantee that you won't lose money. When shopping for a money market fund, look for offerings that hold high quality underlying investments, and be sure to keep an eye out for fees. Money market funds that Lawrence likes include the Federated Hermes Prime Cash Obligations Fund (PCOXX) and the Fidelity Tax-Exempt Money Market Fund Premium Class (FZEXX). Unless they're tax exempt, money market fund income is subject to federal, state and local taxes.

☆ PREVIEW Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe. Hermes (HRMS.PA), which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China. Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists.

☆ Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-23 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

☆ Oman's drilling services firm Abraj plans March listing on Muscat exchange
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +2 min

Jan 22 (Reuters) - Oman's oil and gas drilling services firm Abraj Energy Services plans to list up to 49% of its shares on the Muscat stock exchange in March through an initial public offering (IPO), a company statement said on Sunday. The IPO forms part of an exit plan recently announced by sovereign wealth fund, the Oman Investment Authority (OIA), the state news agency said. State energy company OQ, the selling shareholder, is wholly-owned by the OIA, which expects to exit eight investments in 2023 to generate about $1.3 billion. A diversified oil and gas services firm, Abraj is the largest drilling contractor in Oman with a market share of almost 30 percent. States such as Qatar and Oman are now seeking to capitalise on investor appetite for Gulf IPOs and compete with more active regional exchanges.

The pan-European STOXX 600 (.STOXX) climbed 0.3% at 0936 GMT, boosted by gains in banks (.SX7P) and industrials (.SXNP). European shares were on track to snap a two-week winning streak, thanks to the worst single-day selloff so far this month on Thursday following disappointing earnings reports, weak U.S. economic data and hawkish comments from central bankers. Energy stocks (.SXEP) gained 0.8%, tracking firm crude prices on hopes of demand recovery in the world's second-biggest economy. "Europe has more exposure to China reopening and luxury is a big part of the European market," said Jamie Mills O'Brien, investment manager at Abrdn. "Some of the big players are pure China reopening bets."

☆ Stock market should consolidate through the end of January, says Federated Hermes' Duessel
▼ + stars: | 2023-01-20 | 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 EmailStock market should consolidate through the end of January, says Federated Hermes' DuesselSherry Paul, Morgan Stanley Private Wealth Management senior portfolio manager, and Linda Duessel, Federated Hermes senior equity strategist, join 'Squawk Box' to discuss where markets go from here, if it's hard to be a bear right now and more.

☆ Earnings could keep the market on edge in week ahead as investors wait for Fed
▼ + stars: | 2023-01-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

I do think that will happen even more in the week ahead as the Fed is in a blackout period. S & P Global PMI data is released for both services and manufacturing Tuesday. "The market continues to think the Fed does not have to administer as much medicine as the Fed tells us they plan to. Earnings, earnings, earnings Stocks were lower in the past week, with the S & P 500 off by 1.8%. "It's a mild earnings recession, but it's an earnings recession.

☆ Watch CNBC's full interview with Morgan Stanley's Sherry Paul and Federated Hermes' Linda Duessel
▼ + stars: | 2023-01-20 | 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 EmailWatch CNBC's full interview with Morgan Stanley's Sherry Paul and Federated Hermes' Linda DuesselSherry Paul, Morgan Stanley Private Wealth Management senior portfolio manager, and Linda Duessel, Federated Hermes senior equity strategist, join 'Squawk Box' to discuss where markets go from here, if it's hard to be a bear right now and more.

☆ Resale value of Gucci, Chanel, Louis Vuitton handbags is falling
▼ + stars: | 2023-01-19 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

“Demand for higher-priced luxury brands at resale is down, which is pushing prices for brands like Chanel, Gucci and Louis Vuitton down.”At the same time, she said, demand for previously owned lower-priced luxury brands — such as Miu Miu and Bottega Veneta — is up. They are no longer willing to pay the same price at resale that were willing to pay last year for brands like Hermes, Gucci and Louis Vuitton,” Skoda added. According to The RealReal’s Annual Luxury Consignment Report 2023, which was released Thursday, handbag resale prices fell 20% for Louis Vuitton, 17% for Gucci, 10% for Hermès and 9% for Chanel over the past 90 days. Resale prices are cooling somewhat for luxury handbag brands like Gucci and Louis Vuitton, according to The RealReal. As they embrace lower prices, resale shoppers have become less picky about the condition of the items they buy.

☆ Givenchy doubles down on suits and hoodies at Paris Fashion Week
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

[1/7] A model presents a creation by designer Matthew M. Williams as part of his Menswear ready-to-wear Fall/Winter 2023-2024 collection show for fashion house Givenchy during Men's Fashion Week in Paris, France, January 18, 2023. REUTERS/Sarah MeyssonnierPARIS, Jan 18 (Reuters) - Givenchy creative director Matthew Williams hit the runway Wednesday with a collection of layered looks for men, piling suit jackets on top of hoodies and wide-legged bermudas. Adding texture, the designer of the LVMH-owned (LVMH.PA) French fashion house also wove patches of colour and distressed elements into the line up, which included furry coats in bright colours, shiny puffer coats and exotic skin patterns. The event was held on the second day of Paris Fashion Week's menswear shows, which lasts through Jan. 22 and include high end labels Louis Vuitton, Dior Homme, Hermes and Maison Margiela. European fashion labels are looking to tap into the global popularity of South Korean stars, with an eye to younger shoppers, and the latest flurry of tie-ups include BTS' Jimin for Dior and rapper Suga at Valentino, also announced this week.

☆ Saint Laurent opens Paris Fashion Week with chic evening wear for men
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Anthony Vaccarello during his Menswear ready-to-wear Fall/Winter 2023-2024 collection show for fashion house Saint Laurent as part of Men's Fashion Week in Paris, France, January 17, 2023. REUTERS/Benoit TessierPARIS, Jan 17 (Reuters) - French luxury house Saint Laurent kicked off Paris Fashion Week's menswear shows Tuesday night with a sleek lineup of sharply tailored evening looks for men, drawn up by designer Anthony Vaccarello. Models strode on pointy, heeled boots, their turtlenecks pulled up high, while tightly cinched overcoats were worn with the collars turned up. She continued to play as Vaccarello walked out for his bow, prompting a burst of applause and cheers from the audience. Paris Fashion Week's menswear collections run through Jan. 22, and will feature shows from high-end labels including Louis Vuitton, Dior Homme, Givenchy, Hermes and Maison Margiela.

☆ European shares edge up on pharma boost, UK's FTSE 100 nears record-high
▼ + stars: | 2023-01-16 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) gained 0.1% in early trading, boosted by a 0.8% rise in healthcare stocks (.SXDP). UK's FTSE 100 (.FTSE) rose 0.1% to 7,852.84, inching closer to a record 7,903.50. "Investors appear to have fallen back in love with UK assets, after a difficult period when FTSE 100 was the wallflower among global indices," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Weakness in luxury heavyweights such as LVMH (LVMH.PA) and Hermes International (HRMS.PA) weighed on Europe's STOXX 600 on Monday. German arms maker Rheinmetall (RHMG.DE) gained 2.9% on acquiring a stake in Dutch IT hardware specialist Incooling B.V.

☆ Wall St Week Ahead U.S. investors hunt for gains in foreign stocks
▼ + stars: | 2023-01-13 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Europe's STOXX 600 index (.STOXX) has gained some 17% since the end of the third quarter, versus 11% for the U.S. benchmark S&P 500. MSCI's gauge of global stocks excluding the U.S. has risen more than 20% over that time. The firm last month rotated more into international equities as it increased its overall stock exposure, de Longis said. US vs European stock performanceInternational stocks were recently touted by investor Jeffrey Gundlach of DoubleLine Capital and BofA Global Research, which projected global stocks would "crush" their U.S peers in 2023. Buying international stocks could be a "complement" to the opportunity domestically, said Mona Mahajan, senior investment strategist at Edward Jones.

☆ How 'Real Housewife' Jen Shah's fabulous life came crashing down
▼ + stars: | 2023-01-06 | by ( Stephanie Clifford | ) www.businessinsider.com time to read: +43 min

The woman wrote to the judge overseeing Shah's case that she'd had to remortgage her house, almost divorced, and "thought about ending my own life." The couple decided that he should get his degree while Jen Shah dropped out of college to work. (Shah told a judge at her 2022 plea hearing that she had been treated for "alcohol and depression" two years prior. Koa Johnson, Jen Shah's former fashion designerWhen Sharrieff Shah did participate in filming, he quickly became a fan favorite, calm and sensible. Once the show aired and Jen Shah developed a fan base, her behavior became more dramatic, Johnson said.

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