ROME/PARIS (Reuters) – The world’s largest luxury group LVMH could pick Pietro Beccari as new CEO of Louis Vuitton, the flagship brand of the French group, according to a media report on Wednesday. Italian Repubblica daily reported that Beccari, who took over as chairman and CEO of Dior Couture in 2018, could replace Michael Burke…
By Wayne Cole SYDNEY (Reuters) -Australian shoppers spent big in November as Black Friday sales and online specials spurred demand for clothes, electronics and furniture, a sign consumption was proving resilient to rising interest rates and high inflation. Data from the Australian Bureau of Statistics (ABS) on Wednesday showed retail sales jumped 1.4% in November…
By Chris Taylor NEW YORK (Reuters) – When Lauren Hopkins snagged a gig in student affairs at Virginia Commonwealth University in Richmond, Virginia, she figured she knew whom to thank. After all, a close friend of hers was best buddies with the hiring manager. It had to be him, right? Nope. Turns out her “mystery…
MEXICO CITY (Reuters) – Audi’s Mexico unit reached an agreement Tuesday with its union regarding a wage increase for 2023, avoiding a strike which was set to begin Wednesday, Audi said in a statement. The details of the agreement with the Independent Union of Audi Mexico Workers (SITAUDI) will be shared Wednesday, Audi said. (Reporting…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are bracing for volatility in U.S. bank shares days ahead of an earnings season many believe will bring lower profits and reflect worries over an expected recession. Current market positioning signals a gloomy outlook: The one-month moving average of open puts on the Financial Select…
TOKYO (Reuters) -Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40%, focusing on its home market of Japan, where salaries have been under downward pressure for years. The move by the casual clothing giant may serve as a wake-up call for Japan Inc ahead of annual…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Some hedge funds that bet on macroeconomic trends boasted eye-popping double and even triple digit gains for 2022, investors said, while other prominent firms that were long on technology stocks got clobbered with deep losses in volatile markets. Rokos Capital, run by Chris Rokos and one of a handful…
(Reuters) -Apple Inc is planning to start using its own custom displays in its mobile devices from 2024 onwards in an attempt to bring more components in-house, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. The company intends to begin by swapping out the display in the highest-end Apple Watches by…
SYDNEY (Reuters) – Australian shoppers spent big in November as Black Friday sales and online specials spurred demand for clothes, electronics and furniture, a sign consumption was proving resilient to rising interest rates and high inflation. Data from the Australian Bureau of Statistics (ABS) on Wednesday showed retail sales jumped 1.4% in November from October…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Some hedge funds that bet on macroeconomic trends boasted eye-popping double and even triple digit gains for 2022, investors said, while other prominent firms that were long on technology stocks got clobbered with deep losses in volatile markets. Rokos Capital, run by Chris Rokos and one of a…
