Author: Press Room

LVMH posted record results Thursday, and expressed confidence that China’s luxury market would bounce back this year as the country continues to reopen. The world’s biggest luxury group logged revenue of €79.2 billion ($86.2 billion) and profit of €21.1 billion ($22.9 billion) for 2022, both up 23%. In a presentation, the company said it was buoyed by the recovery of international travel and strong demand from local customers across Europe, the United States and Japan. And in the coming months, “we have every reason to [be] confident, indeed optimistic, on the Chinese market,” LVMH (LVMHF) CEO Bernard Arnault said on…

An international group of Holocaust researchers is asking for the public’s help to find forgotten photos of deportations from Nazi Germany.Archives and museums around the world house photographs of Nazi atrocities often focused on detention, labour, and extermination camps. But in a new initiative, the #LastSeen Project: Pictures of Nazi Deportations, historians intend to collect, analyse, and publish photographic evidence of the forced removal of victims from German towns and cities well before they reached a camp.“We have Holocaust imagery [from camps], the landscape of horrors. But that’s not where it started,” Alina Bothe, a historian and project manager of…

 Twitter is facing a lawsuit in Germany for failing to remove anti-Semitic content on its platform. The lawsuit, filed by HateAid, a digital rights organisation, and the European Union of Jewish Students, argues the social media company has failed to its own rules when it comes antisemitic content. The organisation claims the tweets in question were reported to Twitter but not taken down. The platform even allegedly refused to remove one comment related to Holocaust denial, which is criminalised in Germany. Avital Grinberg, the President of European Union of Jewish Students described these posts as extremely shocking in an interview with Euronews.”The tweets…

The writer is co-head of investment and group chief investment officer at SchrodersThe market misery of 2022 was almost universal, inflicted by a seismic regime shift towards both higher inflation and higher interest rates.Investors faced by tumbling equities couldn’t find the sanctuary in bonds they have grown accustomed to. As the S&P 500 index fell 19 per cent over the year in dollar terms, 10-year Treasuries dropped in virtual lockstep, losing 19 per cent.This made things very difficult for the popular 60/40 portfolio of bond and equities which usually aims to deliver “inflation-plus” levels of returns. A portfolio of 60…

Over the holidays, while most media executives were perhaps looking to get a reprieve from work, Jonah Peretti was online, fully immersed in experimenting with artificial intelligence. The BuzzFeed co-founder and chief executive, who has always raced to test out the latest technologies, was familiar with AI and predictions of how it could one day revolutionize the media industry. In fact, BuzzFeed had dabbled in using it over the years. A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. But Peretti, sitting in his California…

The Pakistani rupee fell 9.6% against the dollar on Thursday, central bank data showed — the biggest one-day drop in over two decades — in a slump that may persuade the International Monetary Fund to resume lending to the country. The drop comes a day after foreign exchange companies removed a cap on the exchange rate, a key demand of the IMF as part of a program of economic reforms it has agreed on with the cash-strapped South Asian nation. The currency’s official value closed at 255.4 rupees against the dollar versus 230.9 on Wednesday, the central bank said. Facing…

Intel CEO Pat Gelsinger, with U.S. President Joe Biden (not pictured), announces the tech firm’s plan to build a $20 billion plant in Ohio, from the South Court Auditorium on the White House campus in Washington, January 21, 2022.Jonathan Ernst | ReutersIntel’s December earnings showed significant declines in the company’s sales, profit, gross margin, and outlook, both for the quarter and the full year.Investors hated it, sending the stock over 9% lower in extended trading, despite the fact that Intel did not cut its dividend.The earnings report, which was the eighth under CEO Pat Gelsinger’s leadership, shows a legendary technology…

Kansas City Chiefs linebacker Willie Gay may have given the Cincinnati Bengals the fuel they needed heading into the AFC Championship at Arrowhead Stadium with his latest comments.Just three days from the game that determines who will represent the AFC in Super Bowl LVII, Gay was very blunt when answering a reporter’s question of what impresses him about the Bengals’ offense. “Nothing,” Gay replied with a stern look. It’s a budding rivalry between these two powerhouses, and Gay’s comments certainly show that. He was on the field in last year’s AFC Championship where Joe Burrow and the Bengals came back to…

Bristol Palin has revealed that’s she’s undergone her ninth breast reconstruction surgery to correct the results of a “botched” breast reduction she underwent at 19.The former “Teen Mom OG” star, 32, whose mother is former Alaska governor and vice presidential nominee Sarah Palin, posted a now-vanished image of herself Jan. 25 in her Instagram stories. The photo showed Palin wearing a compression top with multiple surgical drains attached to it.“Sharing wayyyyy TMI right now, but had my 9th breast reconstruction surgery last night — yes, NINTH. All stemming from a botched breast reduction I had when I was 19 y/o,”…

Stocks rose Friday and capped off a winning week fueled by better-than-expected economic growth and a pop in Tesla shares.The Nasdaq Composite jumped 0.95% to settle at 11,621.71, while the S&P 500 gained 0.25% to close at 4,070.56. The Dow Jones Industrial Average added 28.67 points, or 0.08%, to finish at 33,978.08.All the major averages posted a positive week and are on pace for a month of gains. The tech-heavy index rose 4.32% and closed out its fourth week of gains. It’s on pace for its best monthly performance since July. The S&P and Dow added 2.47% and 1.81%, respectively,…