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☆ Italy Extends Border Controls With Slovenia Deeper Into November
▼ + stars: | 2023-11-02 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

ROME (Reuters) - Controls at the border between Italy and Slovenia will continue this month, Rome's parliament minister said on Thursday, and the government could decide to further extend their duration. Italy reinstated police checks at the border in its northeast as of Oct. 21 for an initial 10 days, suspending the free movement normally allowed within most of the European Union under the Schengen treaty. Last month, Italian Interior Minister Matteo Piantedosi said the border checks were likely to be extended into next year, citing the risk of terrorists among the migrants in transit on the Balkan route. Ciriani said 10 people had so far been arrested on charges of aiding and abetting illegal immigration as a result of the controls. (Reporting by Giuseppe Fonte; Writing by Angelo Amante; Editing by Keith Weir)

Persons: Luca Ciriani, Matteo Piantedosi, Ciriani, Giuseppe Fonte, Angelo Amante, Keith Weir Organizations: European Union, Hamas, Slovenian Locations: ROME, Italy, Slovenia, Israel, France, Belgium, Rome, Croatian, Italian

☆ Apple lacks a clear path to growth this holiday season after four straight quarters of shrinkage
▼ + stars: | 2023-11-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook looks on during an Apple event at their headquarters in Cupertino, California, September 7, 2022. Apple indicated on Thursday that investors shouldn't expect revenue growth in the December quarter, the busiest and most important time of the year for its business. Still, revenue fell about 1% from a year ago to $89.5 billion, marking a fourth straight quarter of shrinkage. That's the first time Apple has experienced such a stretch since before the iPhone was launched in 2007. Instead, Maestri said revenue for the current quarter will be "similar" to where it was last year, suggesting the company faces some challenges during the all-important holiday season.

Persons: Tim Cook, Luca Maestri, Apple doesn't, Maestri Organizations: Apple Locations: Cupertino , California

☆ Apple shares give investors waiting to buy an opportunity after an uneven quarter
▼ + stars: | 2023-11-02 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

AAPL YTD mountain Apple YTD Apple shares fell more than 3% after the release. Cash and capital allocation In its September quarter, Apple generated operating cash flow and free cash flow results that were lower than what the Street was looking for. Services, a high-margin business for Apple, reached a new all-time revenue record with growth accelerating to 16% on a year-over-year basis. On the call, CEO Tim Cook said Apple "achieved all-time revenue records across App Store, advertising, AppleCare, iCloud, Payment Services and video as well as a September quarter revenue record in Apple Music." Maestri said Apple achieved "all-time revenue records in the Americas, Europe, and rest of Asia-Pacific and a September quarter record in Greater China.

Persons: we've, Cash, we're, Apple, it's, Tim Cook, Maestri, Luca Maestri, Jim Cramer's, Jim Cramer, Jim, Patrick T, Fallon Organizations: Apple, Products, Services, Fortune, MacBook Air, Apple Watch, Management, CNBC, Grove Apple, AFP, Getty Locations: Apple's, Americas, Europe, Asia, Pacific, Greater China, China, Latin America, East, South Asia, India, Los Angeles , California

☆ Apple set to report fourth-quarter earnings after the bell
▼ + stars: | 2023-11-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple will report fourth-quarter earnings after the bell on Thursday. Analysts expect Apple to report its fourth straight quarter of overall revenue decline, but many hope that finance chief Luca Maestri will signal a return to growth on the earnings call. Here's what Wall Street expects, per LSEG (formerly Refinitiv) consensus estimates:EPS : $1.39 estimated: $1.39 estimated Revenue : $89.28 billion estimated: $89.28 billion estimated iPhone revenue: $43.81 billion estimated$43.81 billion estimated Mac revenue : $8.63 billion estimated: $8.63 billion estimated iPad revenue: $6.07 billion estimated$6.07 billion estimated Other Products revenue: $9.43 billion estimated$9.43 billion estimated Services revenue : $21.35 billion estimated: $21.35 billion estimated Gross margin: 44.5% estimatedThe quarter will include about a week or so of iPhone 15 sales. Apple's fiscal fourth quarter period typically includes a little bit of back-to-school laptop and tablet spending that benefits its Mac and iPad divisions. But Apple warned in August that it expected Mac and iPad revenue to decline by "double-digit" percentages during the quarter.

Persons: Tim Cook, Luca Maestri Organizations: Apple, Huawei Locations: Cupertino , California, China

Apple shares, which have risen 37% so far this year, dropped 3.4% after-hours, following the forecast. Maestri said Apple expects to have higher iPhone sales for the fiscal first quarter, even though this year's holiday quarter has one fewer week of sales than the year-ago. Cook said the company's new high-end handset models - the iPhone 15 Pro and Pro Max devices - are facing supply constraints. Apple's sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Cook said that after accounting for foreign-exchange rates, Apple's business in China grew year-over-year, driven by iPhone sales and services revenue.

Persons: Tim Cook, Apple, Cook, Luca Maestri, Bob O'Donnell, Davidson, Tom Forte, Aly, Max, Nabila Popal, Lionel Messi, Stephen Nellis, Yuvraj Malik, Sayantani Ghosh, Peter Henderson, Matthew Lewis, Leslie Adler Organizations: Huawei, Apple, TECHnalysis Research, Mac, REUTERS, Huawei Technologies, U.S, Reuters, Pro, Apple Watch, Thomson Locations: China, Cupertino , California, Shanghai, San Francisco, Bengaluru

POZZUOLI, Italy—Diners at restaurants around this tiny port streamed outside while moored boats and an eight-story crane began to sway. Some cats milled about, unfazed by the umpteenth tremor to hit this picturesque seaside town. “You feel that? It’s nonstop earthquakes here,” said Luca Averna , a part-time fisherman, as he paused from working on his small boat during the 3.6-magnitude tremor. “We’re used to it, but that doesn’t mean we aren’t afraid.”

Persons: ”, Luca Averna, We’re Locations: POZZUOLI, Italy

☆ Apple expected to post fourth consecutive quarterly sales decline Thursday
▼ + stars: | 2023-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple is expected to post its fourth consecutive quarterly revenue decline when it reports earnings after the bell Thursday. They will also be paying close attention to any clues about how demand for the iPhone 15 lineup is faring. The September quarter isn't Apple's biggest or slowest quarter of the year and only includes about a week or so of iPhone 15 sales. Apple's fiscal fourth quarter period typically includes a little bit of back-to-school laptop and tablet spending benefitting its Mac and iPad divisions. The mood among analysts, especially in regard to expectations for the fourth quarter, is changing.

Persons: Tim Cook, haven't, They'll, Apple hasn't, Luca Maestri, Morgan Stanley, Erik Woodring, Samik Chatterjee Organizations: Apple Inc, Apple Locations: New York, China

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

☆ Saudi Arabia set to host 2034 World Cup as Australia withdraws interest
▼ + stars: | 2023-10-31 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +4 min

CNN —Saudi Arabia is set to host the 2034 men’s FIFA World Cup after Australia withdrew its interest in hosting the global showpiece just hours before the bid deadline on Tuesday. Instead the Australia football federation has opted to proceed with their bids for the Women’s Asian Cup in 2026 and the FIFA Club World Cup in 2029. In a press release sent out on Tuesday, FIFA confirmed that Saudi Arabia was the only bidder for the 2034 tournament. In 2022, Oleksandr Usyk beat Anthony Joshua at the King Abdullah Sports City Arena in Jeddah, Saudi Arabia in a heavyweight title clash. To host the World Cup would be viewed as a major coup for Saudi Arabia, which has been frequently been criticized of sportswashing.

Persons: “, Oleksandr Usyk, Anthony Joshua, Andrew Couldridge, Prince Mohammed bin Salman, Luca Bruno, ”, Steve Cockburn Organizations: CNN, FIFA, Australia, ” Football Australia, FIFA Club, FIFA Council, ” FIFA, King Abdullah Sports City Arena, Formula One, Saudi Pro League, sportswashing, MBS, Fox News, Sports & Rights Alliance, Getty, Economic, Social, “ FIFA, Rights, Saudi Arabia Football Federation Locations: Saudi Arabia, Asia, Oceania, Spain, Portugal, Morocco, Uruguay, Paraguay, Argentina, Jeddah, Saudi Arabian, Saudi

☆ Billing stunner earns Bournemouth comeback win over Burnley
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

BOURNEMOUTH, England, Oct 28 (Reuters) - Bournemouth came from behind to beat Burnley 2-1 in the Premier League on Saturday and claim their first league victory of the season after Philip Billing netted the winner with an extraordinary lob from 40 yards. Bournemouth moved above Burnley into 17th place with six points from 10 matches while Vincent Kompany's side dropped one spot into 19th on four. Despite coming so early in the season, the match had the air of a relegation six-pointer with both teams struggling for form. Burnley, looking for a fifth straight league win over Bournemouth, went ahead in the 11th minute when Charlie Taylor hammered home a fierce volley from outside the box. In windy conditions, Bournemouth continued to push for a second goal and fired cross after cross into Burnley's penalty area, with goalkeeper James Trafford repeatedly called into action.

Persons: Philip Billing, Vincent Kompany's, Charlie Taylor, Taylor, Antoine Semenyo, Marcus Tavernier, Chris Mepham, Burnley's Luca Koleosho, James Trafford, Trafford, Jay Rodriguez, Aadi Nair, Ed Osmond Organizations: BOURNEMOUTH, Bournemouth, Burnley, Premier League, Thomson Locations: England, Bengaluru

☆ Pramac's Martin smashes lap record to grab pole at Thailand Grand Prix
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

Oct 28 (Reuters) - Title-challenger Jorge Martin of Pramac Racing secured his third pole position of the season at the Thailand Grand Prix by setting a lap record on Saturday, with VR46 Racing's Luca Marini and Aprilia's Aleix Espargaro joining him on the front row. I am strong, and this is the most important thing," the 25-year-old Martin said after his performance, including the record 1 minute 29.287 second lap. "I did not expect to do 29.2, I think that is a very good lap... The Marquez brothers, Marc Marquez and Alex Marquez topped Q1, with the Gresini Racing rider coming ahead of the six-time MotoGP champion, who also has the most wins at Buriram. Alex Marquez managed to finish seventh and Marc Marquez eighth in the final session.

Persons: Jorge Martin, VR46 Racing's Luca Marini, Aprilia's, Espargaro, Francesco Bagnaia, Martin, Marco Bezzecchi, Brad Binder, Marquez, Marc Marquez, Alex Marquez, Maverick, Fabio Quartararo, Johann Zarco, Augusto Fernandez, Quartararo, Pearl Josephine Nazare, William Mallard Organizations: Pramac Racing, VR46, Chang, Circuit, Buriram, Aprilia, Thomson Locations: Thailand, French, Bengaluru

POZZUOLI, Italy, Oct 27 (Reuters) - The talk in shops and coffee bars in Pozzuoli, a port town outside Naples, is not about soccer or politics, but of the fear that has gripped residents since a supervolcano sparked a swarm of earthquakes. Sulphurous fumes escape from the surface, giving the area a surreal look and making it a magnet for tourists. "Even those small ones (quakes) make us afraid," she said. There are big ones and small ones. Prezzini, 78, said he would defy any evacuation order, while 66-year-old Luigi Ilardi, chimed in: "We are used to it.

Persons: Stefania Briganti, Ciro De, Sophia Loren, Vincenzo Russo, Angelo Prezzini, Luigi Ilardi, I've, Ciro De Luca, Philip Pullella, Deborah Kyvrikosaios Organizations: REUTERS, Thomson Locations: POZZUOLI, Italy, Pozzuoli, Naples, Milan, Castel, Rome

☆ 'Venus of the Rags' to rise from ashes in Italy's Naples
▼ + stars: | 2023-10-27 | by ( Giulia Segreti | ) www.reuters.com time to read: +2 min

[1/3] Italian artist Michelangelo Pistoletto's 'Venus of the Rags' is displayed in Piazza Municipio before being destroyed in a fire, in Naples, Italy June 27, 2023. It will absorb what was left from the fire of the original artwork, art critic Vincenzo Trione explained, "to show that it is possible to rise from the ashes, not only metaphorically". The original "Venus of the Rags" was created in 1967 and various versions are on display in museums across Europe, including the Tate Gallery in Liverpool, northern England. I would have never thought in 1967 that I would find myself once again immersed in this piece of art," Pistoletto said, adding that "we must now heal (Venus)". The installation is meant to convey the juxtaposition between eternal beauty, represented by Venus, and modern society's social degradation and consumerism.

Persons: Michelangelo Pistoletto's, Ciro De Luca, Michelangelo Pistoletto, Vincenzo Trione, Gaetano Manfredi, Pistoletto, Giulia Segreti, Keith Weir, Tomasz Janowski Organizations: REUTERS, Rights, Naples, Tate, Venus, Thomson Locations: Italian, Piazza Municipio, Naples, Italy, Piazza del, Europe, Liverpool, England

☆ Hermes sales beat expectations, defying luxury sector gloom
▼ + stars: | 2023-10-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/2] A Hermes store sign is seen at a shopping mall in San Diego, California, U.S., November 23, 2022. "Despite an uncertain context, our outlook remains unchanged," Eric du Halgouet, Hermes executive vice president finance, told journalists, noting strong growth in the U.S. and Asia, including China. Sales in the Americas rose 20%, despite smaller price hikes than in other parts of the world, with even growth rates on both U.S. coasts, Hermes said. In Europe, sales grew 18.1%, with Du Halgouet noting no sign of a slowdown in tourist traffic in the region, and no slowdown in France, including in the first weeks of October. "We are attentive," said Du Halgouet, noting an uncertain geopolitical context could affect tourism.

Persons: Mike Blake, Birkin, bellwether, Hermes, Eric du Halgouet, Du Halgouet, Bernstein, Luca Solca, Mimosa Spencer, Ingrid Melander, Jan Harvey Organizations: REUTERS, Rights, U.S, Analysts, Thomson Locations: San Diego , California, U.S, Asia, China, Americas, Madison, New York, Europe, France, Japan

Enter the Swiss franc, a longstanding safe haven asset that just hit its highest level against the euro since 2015 , standing tall as its traditional rivals lose appeal. Other than U.S. dollar cash, only the Swiss franc and gold remained as options, Ielpo said. The Swiss franc has rallied over 3% against the yen this month. Reuters GraphicsUNCERTAIN WORLDSince the Oct.7 Hamas attacks in Israel, the Swiss franc -- also referred to as the Swissie -- has rallied roughly 2% against the dollar. "The war in the Middle East clearly has lead to a flight to safety that benefited the Swiss franc," said Karsten Junius, an economist at J.Safra Sarasin in Zurich.

Persons: Morgan Stanley, Florian Ielpo, Ielpo, Jeremy Stretch, Karsten Junius, Francesco Pesole, J.Safra Sarassin's Junius, Luca Paolini, Paolini, Treasuries, Toby Gibb, Naomi Rovnick, Alun John, John Revill, Amanda Cooper, Dhara, Dhara Ranasinghe, Tomasz Janowski Organizations: Swiss, Nestle, Wall, Lombard, U.S, Swiss National Bank, Traders, Ministry of Finance, CIBC Capital Markets, Reuters, ING, Management, Artemis, Thomson Locations: ZURICH, Israel, Geneva, Japan, Zurich, Swiss, U.S, London

☆ 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

☆ Bagnaia wins Indonesia GP as Martin throws away championship lead
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +3 min

[1/5] Ducati Lenovo's Francesco Bagnaia celebrates after winning the MotoGP race at the Mandalika International Street Circuit in Kuta, Lombok, Indonesia, October 15, 2023. Antara Foto/Wahyu Putro A via REUTERS Acquire Licensing RightsMANDALIKA, Indonesia, Oct 15 (Reuters) - Ducati's Francesco Bagnaia battled heroically from 13th on the grid to win a thrilling Indonesia Grand Prix in Mandalika on Sunday, as he reclaimed the lead in the riders' championship after Jorge Martin crashed out. Bagnaia crossed the line 0.306 seconds ahead of Aprilia's Maverick Vinales in second, while Yamaha's Fabio Quartararo, the 2021 world champion, finished third. Champion Bagnaia is back on top of the riders' standings with 346 points, with Martin (328) in second and VR46 Racing's Marco Bezzecchi (283) in third. After Martin crashed, Vinales was briefly in the lead but Bagnaia kept up his aggressive riding, slowly and steadily gaining ground on the Aprilia rider before blowing past him in the 20th lap.

Persons: Ducati, Francesco Bagnaia, Antara, Jorge Martin, Bagnaia, Aprilia's, Vinales, Yamaha's Fabio Quartararo, Martin, Marco Bezzecchi, Pramac Racing's Martin, Pramac, Johann Zarco, Pecco, it's, Quartararo, Gresini's Fabio Di Giannantonio, Red Bull, Brad Binder, Jack Miller, Luca Marini, Binder, Marc Marquez, Aadi Nair, Muralikumar Organizations: MotoGP, Circuit, REUTERS Acquire, Aprilia, Red, Red Bull KTM, Gresini Racing, Thomson Locations: Kuta, Lombok, Indonesia, Mandalika, Bengaluru

☆ World Cup 2023 semi-finals: who will qualify?
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +2 min

Oct 14 (Reuters) - The semi-finals of the Rugby World Cup will take place on Oct. 20-21 in France. They began the World Cup with a loss against England but recovered with wins over Samoa and Chile. In the semi-finals, Argentina will play on Friday Oct. 20 against New Zealand, who beat Ireland in the second quarter-final. In the semi-finals New Zealand will play on Friday Oct. 20 against Argentina, who beat Wales in the first quarter-final. The three kicking positions, all on the 22 metre line, are as follows:Position 1: directly in front of the posts;Position 2: on the 15 metre line on the left-hand side of the posts;Position 3: on the 15 metre line on the right-hand side of the posts.

Persons: Argentina William Hill, Hill, Camilla Borri, Alberto Chiumento, Luca Fratangelo, Alessandro Parodi, Mitch Phillips, Peter Rutherford, Ed Osmond, Ken Ferris, Toby Davis Organizations: Rugby, ARGENTINA, Wales, Japan, England, Samoa, New Zealand, Ireland, Argentina Argentina, Samoa Argentina, Argentina Wales, ZEALAND New Zealand, Blacks, Zealand, Argentina, Zealand New, Namibia New, Italy New Zealand, Uruguay Ireland, Thomson Locations: France, ARGENTINA Argentina, Argentina, Chile, Chile Japan, Namibia, Italy, Uruguay, Zealand New Zealand, Namibia New Zealand

Niclas Füllkrug and Jamal Musiala scored three minutes apart early in the second half, and Germany rallied to beat the United States 3-1 in a rainy exhibition Saturday. Political Cartoons View All 1211 Images“He played a good game, showed his quality,” Berhalter said. Gündoğan tied the score with his 18th international goal and first since the World Cup. Musiala got his second international goal, racing ahead of Tim Ream after Füllkrug beat Turner to a deflection and then centered the ball. “In the second half,” Nagelsmann said, “we had the ball possession in the opponent's half.

Persons: — Gio Reyna, Gregg Berhalter, Julian Nagelsmann, Niclas Füllkrug, Jamal Musiala, “, ” Berhalter, ” Reyna, Berhalter, Reyna, Weston McKennie, ” Pulisic, Pulisic, Jonathan Tah, Antonio Rüdiger, Marc, André, Gündoğan, Leroy Sané, Matt Turner, Sané, Luca de la, Füllkrug, Turner, Robin Gosens, Chris Richards, Musiala, Tim Ream, Chris Führich, Hansi Flick, ” Nagelsmann Organizations: HARTFORD, United, “, CONCACAF Nations League, Canada, Dortmund, Bundesliga, Mexico, Luca de la Torre Locations: Conn, Germany, United States, Qatar, U.S, Gündoğan, Mexico, Philadelphia, Ghana, Nashville , Tennessee

☆ 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

☆ Soccer Juventus midfielder Fagioli faces investigation for illegal betting
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

ROME, Oct 11 (Reuters) - Juventus midfielder Nicolo Fagioli is under investigation for alleged illegal betting activities, an Italian prosecutor said on Wednesday, confirming earlier press reports. "I confirm the news of the investigation," Turin Chief Prosecutor Enrica Gabetta said in an emailed statement, without elaborating. "Nicolo is calm and fully focused on Juventus and the (Italian Serie A) league," they added. Italian soccer authorities ban players from betting on soccer matches but not from other types of gambling. A player found to have bet on soccer matches risks being banned for at least three years and fined at least 25,000 euros ($26,520) under the FIGC's code of conduct.

Persons: Nicolo Fagioli, Enrica Gabetta, Luca Ferrari, Armando Simbari, Nicolo, Fagioli, Angelo Amante, Alvise Armellini, Elvira Pollina, Gavin Jones, Ed Osmond Organizations: Juventus, La Stampa, A, Italian national, Albania, Thomson Locations: Turin, Italian

☆ 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

☆ 'They just come, take a nice selfie ... and leave.' Overtourism returns, but cities are fighting back
▼ + stars: | 2023-10-09 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +7 min

Many cities have come full circle to worrying about too many tourists rather than too few. "They just come, take a nice selfie, publish them on social media, increase the popularity of this place … and leave," she said. And an additional 50 million international tourist arrivals are expected per year — mostly from Asia — between now and 2030, according to the U.N.'s World Tourism Organization. James Matsumoto| Sopa Images | Lightrocket | Getty ImagesSome travelers supported Bhutan's $200 per day Sustainable Development Fee, which was announced in 2022. Managing 'tourist flow'The United Nations World Tourism Organization secretary-general, Zurab Pololikashvili, told CNBC Travel that the key to overcoming overtourism lies in "tourist flow."

Persons: Lionel Saul, Tatyana Tsukanova, What's, Tsukanova, Reinhard Hormandinger, Saul, Jesus Merida, It's, Luca Zanon, Ivan Saprov, Saprov, Miyajima, James Matsumoto, Zurab Pololikashvili, overtourism, Jon Hicks, —, Darrell Wade, Reinhard Hoermandinger Organizations: Hospitality Business, United Nations, Asia —, Tourism Organization, South, Afp, Getty, Guardian, daytrippers, CNBC, United Nations World Tourism Organization, CNBC Travel, Stone, Japan Times, Intrepid Travel Locations: Lausanne, Switzerland, Asia, South Korean, Machu Picchu, Peru, Acropolis, Athens, Borobudur, Indonesia, Sardinia, Venice, Bora Bora, Amsterdam, Spanish, Malaga, Spain, France, trialing, daytrippers . New, Valencia, Manchester, England, Thailand, Iceland, U.S, Bali, Germany, Yogyakarta, Labuan Bajo, Lake Toba, Austria

☆ Alnylam gives up on expanded use of heart-disease drug in US after FDA declines approval
▼ + stars: | 2023-10-09 | by ( Mariam E Sunny | ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. The FDA, in 2019, approved Pfizer's (PFE.N) oral drug tafamidis, sold under the brand names Vyndaqel and Vyndamax, to treat transthyretin amyloid cardiomyopathy in the United States. Alnylam said it will focus on another drug candidate, vutrisiran, an under-the-skin injection in late-stage trials to treat ATTR amyloidosis-related cardiomyopathy. Branded as Amvuttra, vutrisiran is also approved in the U.S. to treat nerve damage in adult patients with hereditary ATTR amyloidosis. William Blair analyst Myles Minter estimates peak U.S. sales of $2.2 billion for vutrisiran as an ATTR cardiomyopathy treatment.

Persons: Andrew Kelly, patisiran, ATTR amyloidosis, Alnylam, Luca Issi, ATTR, William Blair, Myles Minter, Mariam Sunny, Pooja Desai Organizations: Food and Drug Administration, FDA, REUTERS, Alnylam Pharmaceuticals, RBC, Thomson Locations: White Oak , Maryland, U.S, Massachusetts, United States, Bengaluru

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