Author: theparknews

PARIS (Reuters) – Shares in luxury goods giant LVMH (MC.PA) are on track to post their biggest one-day drop in a year on Wednesday. The move came after luxury goods giant LVMH missed third-quarter sales expectations, dragging down the entire sector and erasing gains from China’s economic stimulus. Stimulus package.The stock was down about 4% in recent trading after falling as much as 7% in early trading. Smaller rival Kering, which owns brands such as Gucci, fell 3%, Hermès 1.7% and L’Oréal 4.3%.LVMH, which owns brands such as Moët & Chandon champagne, Louis Vuitton fashion and Tiffany & Co. jewelry,…

Uncle Banerjee looks ahead to European and global marketsEurope’s semiconductor and luxury goods stocks will be at the forefront of investors’ minds on Wednesday after lackluster earnings from the region’s biggest tech company ASML and luxury goods flagship LVMH pushed share prices down, but that’s not at all. It’s for the wrong reasons.Chip stocks around the world fell after the Dutch company said ASML expects sales to be weak in 2025, with AI-related chips doing well but the rest of the semiconductor market not. The company said that many chipmaker customers are becoming cautious.ASML is the world’s largest chip manufacturing…

(Reuters) – PayPal Holdings Inc said on Wednesday it will allow U.S. merchants to buy, hold and sell cryptocurrency through their business accounts.Cryptocurrencies have gone from an emerging asset class to gaining greater market acceptance since the U.S. Securities and Exchange Commission approved the listing of Bitcoin exchange-traded funds earlier this year.”There is a growing demand from business owners to have the same cryptocurrency capabilities available to consumers,” said José Fernández da Ponte, PayPal’s senior vice president of blockchain, crypto and digital currency.PayPal entered the cryptocurrency market in 2020, allowing customers to buy, sell and hold bitcoin and other virtual…

By Hannah Lang(Reuters) – Republican former President Donald Trump offered few details on Monday about a new cryptocurrency business that was announced by family and associates at an X-Space live event.President Trump discussed a wide range of topics, including the second assassination attempt that occurred on Sunday and his transition from cryptocurrency skeptic to cryptocurrency supporter.But neither he nor his family would provide details about the company, World Liberty Financial, how it was founded, how it was funded or what services it might offer.It is unusual for a presidential candidate to launch a new venture so close to an election,…

By Aditi ShahNEW DELHI (Reuters) – Mercedes-Benz is seeing an increase in Indian buyers opting for electric cars as their first luxury vehicle, its country-based managing director told Reuters, a trend that is helping to boost sales for the German car maker.Luxury car sales are surging in India, with market leader Mercedes posting record sales. In the first six months of 2024, Mercedes sold 9,300 cars in India, 5% of which were electric, doubling EV penetration from 2.5% last year.Mercedes’ Santosh Iyer said after the launch of the seven-seater electric EQS ​​580 SUV, priced at about $168,200, that more young…

(Reuters) – Blackstone is considering options including a sale of a majority stake in visa application outsourcing and technology services company VFS Global after receiving interest from potential investors, the Bloomberg news agency reported on Thursday.A potential deal could value VFS at about $7 billion, Bloomberg reported, citing people familiar with the matter.Blackstone declined to comment on the Bloomberg report, while VFS did not immediately respond to a Reuters request for comment.Alternative asset manager Blackstone acquired a majority stake in VFS Global from EQT AB in October 2021, with EQT retaining a minority stake.Bloomberg reported that Blackstone is in exploratory…

By Elena Favrinaya and Gleb BryanskyMOSCOW (Reuters) – Trade between Russia and India is booming and bilateral payments are going smoothly without the kinds of problems that have hampered trade with other countries, Anatoly Popov, deputy CEO of Russia’s largest bank Sberbank, told Reuters.Sberbank handles payments for up to 70% of all Russian exports to India. Trade between Russia and India is expected to nearly double to $65 billion by 2023, and India has become a major importer of Russian oil since Western sanctions over the Ukraine conflict were imposed in 2022.”In 2022, we have seen a significant increase in…

Santa Clara, CA, March 24, 2025 – (Business Wire) – Oklo Inc. (NYSE: OKLO) (“Oklo” or “The Company”) (“Oklo” or “The Company”) today announced its financial results and business updates for the quarter and year ended December 31, 2024. Additionally, we have posted shareholder letters and updated investor presentations on the shareholder relationship website oklo.com/investors. Oklo will be holding a conference call on March 24th, 2025 at 2pm Pacific Time/5pm Eastern Time. Co-founder and CEO Jacob DeWitt and Chief Financial Officer Craig Bealmeer will talk about the phone. Call’s webcasts can be accessed by visiting the Events and Presentations section…

Madison, Wisconsin, February 3, 2025- (Business Wires) -Irst Business Financial Services, Inc. (“Company” or “First Business Bank”) (NASDAQ: FBIZ) announced that the Board of Directors has declared a quarter. Based on the Friday market, 51.66, cash dividends per share equivalent to 22 % dividend yields per share. The quarterly dividends have increased the quarterly dividends declared in October 2024 by 16 %, 13 consecutive annual dividends. The dividend payment rate is 17 % based on the profit per share of the 2024 quarter. This normal cash dividend will be paid to the recorded shareholders on February 28, 2025 at the…

1stDibs presents the latest data on the site’s consumer purchasing trends over the past year. NEW YORK, Jan. 22, 2025–(BUSINESS WIRE)–1stDibs, the leading marketplace for extraordinary design, releases its Luxury E-Commerce Report. This report leverages 2024 data and analytics from across the platform to capture the changing tastes and trends of 1stDibs’ consumer base across the most prominent luxury categories: art, furniture and lighting, jewelry, fashion, and handbags. I’m digging into the details. As the audience for iconic designers, famous artists, and timeless designs grows, 1stDibs has expanded its inventory to serve the growing market while also enhancing the way…