LVMH has reported a decline in sales for its fashion and leather goods division, marking the first drop since the pandemic began. The luxury powerhouse has been hit hard by a decrease in demand from Chinese consumers, who previously had an unquenchable thirst for high-end products. This shift raises concerns about the future of luxury spending in the region.
The loonie is on track for its worst streak of losses in over seven years. A disappointing report on Canadian consumer prices has fueled speculation that the Bank of Canada will cut interest rates faster in the coming weeks.
Bitcoin surged past $67,000 for the first time in over two months, but quickly lost those gains. The digital asset market is once again facing volatility, coinciding with the approaching US elections.
Volkswagen AG’s premium brand Audi has struggled to secure a suitable investor for its troubled electric vehicle factory in Brussels. This failure increases the risk of the plant's closure.
TotalEnergies SE plans to approve an import terminal for liquefied natural gas in Mozambique by next year. This facility could help address a potential supply crisis for users in neighboring South Africa.
State Street Corp. has announced that Chief Financial Officer Eric Aboaf is departing the company to become CFO at S&P Global Inc. Aboaf’s move marks a significant leadership transition as he takes on a similar role at the financial services giant. The shift is expected to bring new perspectives to S&P Global, reflecting ongoing changes in the financial sector.
Boeing Co. is moving to raise up to $25 billion to strengthen its financial position amid ongoing challenges. This funding will help the planemaker endure a potential strike and navigate through various operational issues.
De La Rue Plc shares jumped significantly, marking their biggest rise in over four years. This surge follows the company's agreement to sell its authentication arm to Crane NXT Co. This move signals a major change for the historic British firm, which has been operating for over 200 years.
India's power ministry has announced a major plan to upgrade the national power grid. This revamp aims to support a significant increase in renewable energy sources by 2032. The initiative is part of India's commitment to enhance its energy infrastructure and move towards more sustainable power generation.
In a challenging year for European airline stocks, one UK carrier is standing out. While many companies face struggles, this airline is showing resilience and growth, defying the overall downturn in the industry. Investors are watching closely as it continues to thrive amid tough conditions.
