Three of the companies plumbed new lows this week as short-seller attacks, management turmoil and execution issues lead investors to reconsider their prospects. They’ve lost more than $40 billion of market capitalization combined from their respective peaks.
LVMH Moët Hennessy Louis Vuitton—the 70-brand empire including Louis Vuitton, Christian Dior and Givenchy—just hit record sales this quarter. According to the luxury giant’s most recent earnings report, its Fashion & Leather Goods division revenue surpassed $8 billion.
The Tokyo-based company purchased more than $20 billion worth of its own shares over the past year through March, according to SoftBank filings, an unprecedented effort that more than doubled the value of the stock. Now, with only about 10% of the committed capital left, the program may run out as soon as next month, Bloomberg’s calculations show.
Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.
Bloomberg reported on Tuesday, citing unnamed sources, that the EIB plans to issue a two-year 100-million euro digital bond, with the sale to be led by Goldman Sachs, Banco Santander, and Societe Generale, according to analysts.
The letter, published on Huawei’s official employee website, tackled the uncertainties the company is facing as US trade sanctions continue to affect its business. Ren issued a warning to staff not to falsify accounts, or else they will face dismissal.
While Ren was not explicit on whether Huawei has such a plan, the suggestion was a marked difference from the Shenzhen-based company’s previous statements, which have said it is not considering an IPO.
Read the full story on South China Morning Post here.
Last fall, Perelman unofficially shopped the property with a few “quiet” showings for around $65 million, along with a smaller, connected townhouse for a total of around $75 million.
That was part of an extraordinary sell-off that included art, one of his Gulfstream jets and a yacht — part of a strategy to “simplify” his life, Perelman said at the time, all while his business had to react to the pandemic-stricken economy.
After a year-long renovation led by Gachot Studios, Waterworks reopened its newly expanded, 12,500-square-foot Manhattan flagship showroom on 58th Street this fall, home to their complete line of luxury bath and kitchen products.
With Carrara marble and white millwork, the gallery-like ground level displays faucets in shadow boxes and jewelry case-style vitrines, while shower fittings are tucked away inside drawers. A central open staircase leads shoppers downstairs to the minimalist cellar where tubs, washstands and mirrors are showcased, including the brand’s new Bond bath collection in collaboration with Gachot.
The new second level is home to color-coordinated collections of kitchen cabinetry, surfaces and hardware, in a setup reminiscent of fashion merchandising. To honor their reopening and celebrate Manhattan’s resiliency over the last year, Waterworks donated $25,000 to City Harvest to feed nearly 70,000 New Yorkers in need.
Crown has already been found to be unfit to hold a gambling licence for its Sydney casino due to alleged links to organised crime, and faces quasi-judicial public inquiries into its operations in Victoria and Western Australia (WA), the two other states where it operates.
The value of the digital token, DIGau, will be pegged to the market price of the precious metal, guaranteed by liens Swig and partner Stephen Braverman’s company, Dignity Gold, secured against mining claims in Nevada and Arizona.