By Johann M Cherian and Shristi Achar A (Reuters) -The UK’s blue-chip FTSE 100 fell on Monday as mining stocks slumped after top metals consumer China’s decision to set a modest growth target, while a surge in luxury carmaker Aston Martin’s shares lifted the mid-cap FTSE 250. The export-oriented FTSE 100 fell 0.2%, dragged down …
By Eric Onstad and Harish Sridharan LONDON/BENGALURU (Reuters) -The London Metal Exchange (LME) faces two fresh lawsuits, filings showed, from ten hedge funds and asset managers after it enraged investors last year by cancelling nickel trades. The world’s largest and oldest metals market annulled billions of dollars of nickel trades following chaotic price action and …
LME faces new hedge fund lawsuits over cancelled nickel trades Read More »
By Blake Brittain (Reuters) -French luxury house Hermes International has asked a Manhattan federal court to block artist Mason Rothschild from promoting or owning his “MetaBirkin” non-fungible tokens after a jury found they violate Hermes’ trademark rights in its famous Birkin bags. Hermes said in a court filing Friday that Rothschild has continued to market …
Hermes asks court to block ‘MetaBirkin’ NFT sales after jury win Read More »
By Sam Tobin LONDON (Reuters) – Kazakh miner ENRC told a London court on Monday that Britain’s Serious Fraud Office (SFO) would not have opened a criminal investigation into the company if the watchdog had not induced ENRC’s former lawyer to act against the company’s interests. Eurasian Natural Resources Corporation (ENRC) is suing the SFO …
ENRC tells London court UK’s fraud watchdog would not have opened probe without leaks Read More »
By Ankika Biswas and Shreyashi Sanyal (Reuters) -European shares bid farewell to their initial momentum on Monday after European Central Bank officials backed the need for more interest rate hikes, while investors assessed the lower-than-expected rebound in Euro zone January retail sales. The STOXX 600 index was flat, after last week clocking its best week …
European shares wipe gains on hawkish remarks from ECB officials Read More »
PARIS (Reuters) – LVMH, the world’s largest luxury company, on Monday named Stephane Rinderknech as chairman and CEO of its beauty division, rounding out a series of broader management changes at the owner of Guerlain and Parfums Christian Dior. A former L’Oreal executive with extensive experience in the U.S. and Asia, Rinderknech joined LVMH in …
LVMH rejigs beauty division, names Stephane Rinderknech CEO Read More »
MILANO (Reuters) – Gruppo Florence, a hub of Italian clothing manufacturers that supply top luxury brands, has given private equity firm Permira access to its books to facilitate a potential sale, two sources close to the matter said on Monday. Gruppo Florence is working with Bank of America and Citi to assess strategic options after …
Permira studying Gruppo Florence’s books for possible buy-sources Read More »
By Elvira Pollina MILAN (Reuters) -Telecom Italia (TIM) shares rose as much as 5% on Monday after Italian state investor CDP and Australian fund Macquarie submitted a joint bid for the former phone monopoly’s grid, rivalling an approach by U.S. firm KKR. TIM is betting on a sale of its most prized asset to cut …
Telecom Italia boosted by rival offer for landline grid Read More »
BERLIN (Reuters) – The war in Ukraine and a cost-of-living crisis are not spoiling German consumers’ appetite for a holiday, the DRV industry body said on Monday, forecasting a return in 2023 to the record sales seen before the COVID-19 pandemic. The year got off to a strong start, with revenue for travel agents and …
German travel industry sees 2023 rebound to pre-pandemic highs Read More »
KYIV (Reuters) – Most of Ukraine’s winter grain crops – winter wheat and barley – are in good condition and could produce a good harvest, Ukraine’s academy of agricultural science was quoted as saying on Monday. “The analysis of the viability of winter wheat … showed that the vast majority of plants – 92% to …
Most of Ukraine’s winter grain crops in good condition – scientists Read More »
