Author: theparknews

(Bloomberg) — Eighteen months ago, LVMH shares were trading at record highs and the group’s controlling shareholder, Bernard Arnault, was the richest man in the world.Most Read Articles on BloombergFast forward to Wednesday, and weak Chinese demand for Louis Vuitton bags, Dior gowns and other high-end fashion had wiped out more than 150 billion euros ($163 billion) of LVMH’s market capitalization. Arnault’s wealth has fallen to fifth place on the Bloomberg Billionaires Index, meaning he has lost more money ($37 billion) than anyone on the world’s 500 richest people list over this period. It shows that.According to the index, the…

October 16, 2024 – The European Luxury Goods Index fell today as European luxury goods stocks fell today due to lower sales at LVMH (LVMHF), the world’s leading luxury goods group. China is seen as an important consumer in the luxury goods business, so there are concerns about a slowdown in demand from China.LVMH fell 7% in early trading, dragging Kering (XPAR:KER) and with it L’Oréal. The company’s sales fell 3% over the year, missing analyst forecasts. Quarterly sales also fell for the first time since the coronavirus outbreak, but year-to-date sales rose 16%.This appears to be due to sluggish…

Strategic alliance to increase market reach and brand awareness for Raptor RestorationMiami, Florida–(Newsfile Corp. – October 16, 2024) – Local Business Rockstar is a prominent digital marketing and advertising company known for helping local business owners grow their businesses profitably. and are excited to announce our new partnership with Raptor Restoration. A major roofing and restoration company based in Indianapolis. This collaboration is designed to strengthen Raptor Restoration’s brand presence and market reach across Indiana.raptor restorationRaptor Restoration has built an excellent reputation for providing top-notch roofing and restoration services in Indianapolis. By partnering with Local Business Rockstar, we aim to…

(Bloomberg) — Swiss construction company Holcim is considering a dual listing of its North American unit in the U.S. and Switzerland, people familiar with the matter said.Most Read Articles on BloombergThe company announced in January that it would spin off its North American operations as a separate U.S.-listed company, with a potential valuation of more than $30 billion. The people, who requested anonymity because the information is private, said a dual listing is also an option being considered, but no final decision has been made.Some people familiar with the matter said the consideration of a dual listing was due to…

Trump tariffs vs. Harris tax: Which will hit luxury real estate harder? experts give their opinionsThe luxury real estate market is bracing for potential changes under a Donald Trump or Kamala Harris administration. Industry experts are analyzing campaign promises and policy proposals to assess their impact on luxury real estate and wealthy investors.Despite differences in their overall policy approaches, both candidates have expressed an interest in addressing housing affordability and supply issues. However, opinions differ on its methodology and potential impact on the luxury goods market.Don’t miss:President Trump’s proposed tariffs on imports, particularly a possible 60% tax on Chinese products,…

Stocks in mainland China rose as investors took stock of the Chinese government’s Saturday conference on economic stimulus. The finance minister said additional measures were needed, but gave no details. Japanese markets were closed for the holiday.S&P 500 futures: 5,866.25 ⬆️ up 0.11%S&P 500: 5,815.03 ⬆️ up 0.61%Nasdaq Composite: 18,342.94 ⬆️ up 0.33%Dow Jones Industrial Average: 42,863.86 ⬆️ up 0.97%STOXX Europe 600: 522.20 ⬆️ up 0.04%SSE Composite: 3,284.32 ⬆️ 2.07% increaseBitcoin: $64,588.52 ⬆️ up 2.73%China: Stock prices rise after economic stimulus briefingShanghai’s SSE Composite fell to 2 after Finance Minister Lan Fong-an said at a press conference on Saturday that…

Apparel, Accessories, and Luxury Stocks Q2 Analysis: Hanes Brands (NYSE:HBI) vs. the RestWe look back at second-quarter earnings for apparel, accessories, and luxury goods stocks, and examine the best and worst performers of the quarter, including Hanes Brands (NYSE:HBI) and its peers.In apparel and accessories, not only are styles changing more frequently today than in past decades, as trends are transmitted through social media and the internet, but consumers are also changing the way they purchase products, becoming omnichannel. and e-commerce experience. While some apparel, accessories, and luxury goods companies are making a concerted effort to adapt, slow-moving companies may…

We recently compiled a list of 35 trending AI stocks with the latest analyst ratings and news. In this article, we’ll take a look at how Amazon.com, Inc. (NASDAQ:AMZN) stands compared to other trending AI stocks.As earnings season approaches, investors are paying close attention to how S&P 500 companies’ artificial intelligence (AI) investments are performing. Analysts expect profit growth to slow, with S&P 500 earnings expected to grow 5.3% year over year, slowing from 13.2% growth in the second quarter, Reuters reported. There is. The technology and communications services sector is expected to show the highest year-over-year growth, with technology…

Oman Air is the latest airline to completely eliminate first class cabins, following American Airlines, Air New Zealand and Turkish Airlines.Like many of the world’s major airlines, Oman Air will replace First with a new Business Studio cabin. This latest product will primarily be introduced on London and Bangkok routes. The new seats will be in addition to the current business class seats and will be cheaper than first class, but more expensive than standard business class seats.Oman Air Business Studio Cabin: Oman Air CEO Kon Kolfiatis told Fortune that demand for first class is declining. Oman Air’s new Business…

BALDWIN COUNTY, Ala. (WKRG) — Poarch Creek Indians are celebrating after a tribal-owned business received a prestigious award.Media Fusion, a tribal-owned company specializing in creating products and services for commercial and government customers, has received the Small Business Prime Contractor of the Year Award from NASA’s Marshall Space Flight Center, according to a news release .The U.S. Small Business Administration said the award “recognizes small businesses that have provided outstanding products and services to the government as prime contractors.”Media Fusion received the award during the Marshall Small Business Alliance’s 38th annual conference held at the Davidson Space Exploration Center in…