Author: Press Room

LVMH boss Bernard Arnault’s fortune soared by $12 billion on Thursday to a record high of $210 billion, per Bloomberg. LVMH shares hit a record high in Thursday trade after a strong first-quarter earnings report. Demonstrators protesting the French government’s pension reforms stormed LVMH’s HQ on the same day. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app On the day that protestors swarmed LVMH Moët Hennessy Louis Vuitton’s, or LVMH’s, headquarters in Paris, Bernard Arnault, the company’s boss, saw his fortune surge by $12 billion…

Four companies filed a class-action suit against Twitter, accusing it of failing to pay some bills. They said that Twitter has approved the invoices but they don’t know when or even if they’ll be paid. Since taking over Twitter, Elon Musk has desperately cut costs and allegedly stopped paying rent. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Several more companies are suing Twitter, alleging that it has failed to pay some of its bills.In the proposed class-action lawsuit filed April 4 in the…

China’s gross domestic product expanded 4.5 per cent year on year in the first quarter, as strong growth in exports and infrastructure investment as well as a rebound in retail consumption and property prices drove a recovery in the world’s second-largest economy.The official figure, which exceeded analyst expectations of a 4 per cent rise, followed efforts by Chinese leader Xi Jinping’s government to restore business confidence damaged by pandemic controls last year and abrupt policy changes.The January-March growth rate was still short of the government’s full-year target of 5 per cent, held back by a nationwide Covid-19 outbreak at the…

“We don’t need or want a secret police station in our great city,” said Breon Peace, the US attorney for the Eastern District of New York on Monday – expressing the likely feeling of many Americans at the news that the FBI has arrested two alleged agents for the Chinese government accused of working to harass and silence its critics in the US. The Justice Department also charged 34 officers of China’s national police, all of whom are believed to live in China, with related offenses. The revelations threaten to pitch already sour US-China relations into further crisis, and had…

Here’s a thought for investors: If the Federal Reserve raises interest rates to 5% or more would that wreck the economy and stock prices ? The U.S. stock market has been rallying to start 2023, clawing back a big chunk of the painful losses from a year ago. The bullish tone has been linked to a view that the Federal Reserve will need to cut interest rates this year to prevent a recession, reversing one of its quickest rate-increasing campaigns in history. Doomsday investors, including hedge-fund billionaire Paul Singer, have been warning against that outcome. Singer thinks a credit crunch…

Bitcoin and other cryptocurrencies edged lower Monday, with digital assets stumbling after the latest leg of this year’s major rally carried cryptos above key price levels. While catalysts lie ahead, it could take a while for the next big move. The price of Bitcoin has fallen 1.5% over the past 24 hours to below $29,950, tumbling through the critical $30,000 level, which it surpassed last week for the first time since June 2022 when the selloff in digital assets accelerated into a brutal bear market. Bitcoin has recently traded as high as $31,000 in a rally that has taken it…

April is National Financial Literacy Month. To mark the occasion, MarketWatch will publish a series of “Financial Fitness” articles to help readers improve their fiscal health, and offer advice on how to save, invest and spend their money wisely. Read more here.)Tax Day is almost upon us. If you need more time to sort through your documents, you can get an extension to file by Oct. 16 — as long as you request that extension by April 18.But what if you simply don’t have enough money to pay the taxes you owe? As Americans contend with pocketbook issues such as…

Stock market bulls confidently predict that the U.S. market will rally the instant the Federal Reserve pauses in its battle against inflation. Yet it hasn’t always worked out that way. A review of past cycles of inflation, interest rates and the U.S. stock market reveals that there can be a considerable lag between peak inflation, peak interest rates, and the stock market’s low. And by “considerable” I mean months, if not years. Consider the period in the early 1980s when inflation and interest rates peaked and the bear market in U.S. stocks came to an end. Inflation topped out more…

© Reuters. Carter’s (CRI) sentiment leans bearish, UBS analyst sees a negative catalyst ahead By Sam Boughedda UBS sees a negative catalyst ahead for Neutral-rated Carter’s (NYSE:), analysts told investors in a note previewing the company’s first-quarter earnings release. The analysts, who have a $65 price target on the stock, told investors that the firm expects Street EPS estimates to fall and sentiment to weaken. “We believe a tough macro environment plus unfavorable weather will cause CRI to deliver a small 1Q23 EPS miss, offer weak 2Q23 EPS guidance, and lower its FY23 outlook slightly,” said the analysts. They added:…

By Barani Krishnan Investing.com — Natural gas futures closed down a second straight day on Thursday after briefly breaking below the key $2 support as the U.S. government reported the first spring season injection of gas into storage tanks already bloated from underutilization of the fuel for heating during the winter. settled down 8.6 cents, or 4%, at $2.007 per mmBtu, or metric million British thermal units, adding to the prior 4% slide from Wednesday. Thursday’s session low was $1.996. The latest drop in gas prices came after the U.S. Energy Information Administration, or EIA, reported that in the United…