PARIS (Reuters) – LVMH, the world’s largest luxury goods group, has agreed to buy a majority stake in Platinum Invest Group, the owner of French jewellery producers Orest and Abysse, with an eye to bulking up production for its U.S. jeweller Tiffany. With the purchase of the company, which runs five workshops in eastern France…
(Reuters) – Asian bonds secured their biggest monthly foreign inflows in thirteen months in March on hopes that major central banks would end their rate-hike cycle soon to boost the economies from a slowdown. Foreigners purchased a net $4.52 billion worth of bonds in India, Indonesia, Malaysia, South Korea and Thailand, marking their biggest monthly…
(Reuters) – Tesla Inc on Friday slashed prices of its electric vehicles in Europe, Israel and Singapore, extending a global discount drive it began in China in January while raising concern about its industry-leading profit margin. Following are details of the price cuts: CHINA Tesla reduced prices for all versions of its Model 3 and…
MILAN (Reuters) -Ferrari has a record order book for its models spanning into next year, Chairman John Elkann told the sports car maker’s shareholders on Friday. Elkann said the Italian company’s two latest models, the 296 GTS plug-in hybrid car and the Purosangue four-seater had boosted its product portfolio, “delivering a record number of orders…
(Reuters) – Global investors were big buyers in money market funds for a seventh straight period in the week to April 12 after a strong U.S. jobs report heightened expectations that the U.S. Federal Reserve would raise interest rates in May. Funds in the global money market drew a net $40.83 billion worth of inflows…
By Fabian Cambero and Divya Rajagopal SANTIAGO (Reuters) – Lundin Mining Corp’s bid for control of Chile’s Caserones copper mine comes despite ongoing uncertainty over potential policy changes to royalties and taxes, an indication that investors may be regaining confidence in the world no.1 copper-producing country. Lundin last month agreed to pay $950 million for…
LONDON (Reuters) – The number of jobs being advertised online in Britain on April 6 was 18% lower than a year earlier, though up 1% from the week before, according to weekly data from recruiter Adzuna released by Britain’s Office for National Statistics. The ONS also said debit card spending at pubs, restaurants and fast…
BERLIN (Reuters) -Germany is expected to narrowly escape recession and post modest growth in the first quarter of the year, according to an economy ministry report published on Friday. “A technical recession of two negative quarters in a row appears to have been averted,” the ministry said. Current forecasts predict a slight year-on-year increase in…
FRANKFURT (Reuters) – Tesla has lowered the price of its Model 3 in Germany by 2,000 euros, or 4.5%, to 41,990 euros ($46,462) per vehicle, according to data on its website. The carmaker also cut the prices for the long range and performance versions of the Model 3. The Model 3 Performance version now sells…
SHANGHAI (Reuters) – China’s central bank is expected to inject more liquidity when rolling over maturing medium-term policy loans for a fifth straight month on Monday, while keeping the interest rate unchanged, a Reuters survey of traders and analysts showed. The People’s Bank of China (PBOC) will continue to keep liquidity ample to support the…
