Revenue of French LVMH Moet Hennessy – Louis Vuitton for the first three quarters of this year fell by 21% year on year and amounted to 30.348 billion euros, according to the company’s report.
The strongest decline in revenue in this period was recorded in the section “selective retail trade” and “watches and jewelry” – 32% and 31%, respectively. The lowest revenue losses were recorded in the segments “fashion and leather goods” – 12%, and “wine and alcoholic beverages” – 15%.
In the third quarter of this year, the company’s revenue decreased by 7%. The largest losses were also recorded in the segment of “selective retail trade”, 29%, the smallest – in the section “wine and alcoholic beverages” – 3%. At the same time, in the “fashion and leather goods” segment, revenue grew by 12%.
Antimonopoly regulator of EU approved the agreement of 16.2 billion euro merger with French group for the production of luxury goods LVMH (Louis Vuitton Moet Hennessy) and transnational jewelry company Tiffany. This was reported by Reuters. According to the information, the merger agreement was approved without additional conditions for the companies. Earlier, Tiffany reported that […]
Holding LVMH Moet Hennessy-Louis Vuitton (LVMH) reported that on Monday, September 28, filed a counterclaim against Tiffany in a Delaware court over a failed merger agreement between the two companies. The French holding and the American jewelry house agreed to merge in November 2019. The parties signed the agreement under which LVMH had to pay […]
The multinational jewelry company Tiffany has filed a lawsuit in the court of the state of Delaware (USA) against the French luxury goods manufacturer LVMH (Louis Vuitton Moet Hennessy) for delaying the latest merger process. This was announced on Wednesday by the press service of the jewelry company. According to press service, LVMH group intentionally […]
The position of the richest man in the world, Amazon CEO Jeff Bezos reached $ 199.7 billion, which is a record for a businessman. This was reported on Wednesday by Forbes magazine. The publication noted that during the trading of Amazon shares on Tuesday, the state of Bezos even exceeded the mark of $ 200 […]
The world’s largest producer of alcohol, the British Diageo has initiated arbitration proceedings with the French luxury goods manufacturer LVMH Moet Hennessy – Louis Vuitton SA due to non-payment of dividends in the amount of 181 million euros in 2019. Diageo owns 34% in the joint venture with LVMH for the production of alcoholic beverages […]
Failure by banks of their obligations under the agreement is a part of the reason for the lawsuits, the amount of which is sometimes measured in billions of dollars, it depends on the losses. One of the largest financial institutions in Germany Commerzbank, requires four US banks for damages in the amount of $ 2 […]
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More than half of the power generation capacity destroyed by Russia has been restored in Ukraine. This was announced by Deputy Minister of Energy Mykola Kolisnyk. ‘Over the past few days, there has been an increase in air temperature, which has led to an increase in electricity consumption, but we have enough generating capacity to […]
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The United States has abolished duty-free tariffs for parcels worth up to $800, known as the de minimis exemption. This benefit had been in place since 1938 and was raised from $200 to $800 in 2015 to boost small businesses on online marketplaces, Reuters reports. A six-month transition period will follow, during which postal services […]
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Last week, the value of cryptocurrency fell sharply, but now it is approaching a historic high again. According to Coin Desk, after a sharp drop last week, the value of bitcoin broke the record and reached $ 19,686. Thus, the cryptocurrency exceeded the value recorded on December 16, 2017 by $ 20,665. But the absolute […]
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The Ukrainian authority continues bank privatisation allowing. For the present, Anti-Monopoly Committee of Ukraine (AMCU) gives the permission to Sergei Tihipko of Universal Bank purchasing through the Bailican Limited Company. AMCU provides also allowance to Sergei Tihipko on the mediated acquisition through the T.A.S. Overseas investments Limited company . He intends to buy shares of […]
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The Ministry of Digital Transformation of Ukraine and Microsoft have signed a Memorandum of Cooperation aimed at developing digital infrastructure, implementing innovative technologies, and strengthening the artificial intelligence ecosystem in Ukraine, the ministry’s press service reported. “It is important for us that global technology leaders not only provide services but also become part of our […]
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The coronavirus pandemic has allowed Ukrainian pharmaceutical companies to enter new world markets – the EU and Asia. The head of the board of Darnitsa Group Dmitry Shymkov in an interview stated this with the executive director of the European Business Association Anna Derevyanko. In particular, the shortage of medicines arose due to the fact […]
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China has officially introduced a ban on electronic retractable door handles in electric vehicles, becoming the first country in the world to impose such strict requirements on EV door design. The new rules will take effect on January 1, 2027, and will require automakers to install mechanical door handles both on the exterior and inside […]
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By 2024, more than 300 branches of Privatbank will be closed; more than six thousand employees will be fired. Such measures are spelled out in the financial institution’s development strategy approved by the Cabinet of Ministers. It is noted that the bank should leave 1250 branches (according to data for 2020, 1688 of them), and […]
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Difficulties in selling oil due to reduced purchases by India have led to a second consecutive monthly drop in Russia’s oil production, which fell to 9.28 million barrels per day in January. Bloomberg reports this, citing sources familiar with the data. This is nearly 300,000 barrels per day below the quota allocated to Russia under […]
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Starbucks reported its biggest profit of all time in the UK, and it can serve as a long-term completion of a tax dispute with the British government. After the company was involved in a major tax scandal in 2012, when it was accused of tax evasion, Starbucks paid UK a large sum of income tax […]
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NASA has provided to Nokia with $ 14.1 million to deploy 4G (LTE) network on the moon. The US space agency noted that telecommunications networks of this standard will be able to provide more reliable than radio signals, communication on the Earth’s satellite, where it is planned to build the lunar base by 2028. NASA […]
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Johnson & Johnson plans to complete the third phase of trials of its single-dose vaccine against COVID-19 in mid-January 2021. Paul Stoffels, vice chairman of the executive committee, senior scientific expert at Johnson & Johnson said they plan to deliver to market 1 billion doses. “We are in the middle of the third phase of […]
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The global tourism industry could lose 120 million jobs due to the COVID-19 coronavirus pandemic. This was stated in a video message by UN General Secretary Antonio Guterres. According to him, tourism has become one of the sectors most affected by the pandemic, and no country has been unaffected by the sharp decline in international […]
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The European Commission has agreed to review the conditions under which additional tariffs are imposed on Volkswagen Group vehicles assembled in China, Carscoops reports. Instead of the standard tariff, the company proposes introducing an import quota and a minimum price mechanism. The request was submitted by Volkswagen Anhui — a joint venture between VW and […]
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Nvidia and AMD have reached an agreement with the Donald Trump administration to remit 15% of their revenues from chip sales in China to the U.S. government in exchange for export licenses, the Financial Times reports, citing sources familiar with the deal, including a U.S. government representative. Under the arrangement, Nvidia will transfer 15% of […]
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