logo
How Hermes Overtook LVMH, The Brand That Tried To Buy It

How Hermes Overtook LVMH, The Brand That Tried To Buy It

Bloomberg16-04-2025

Hermès' market capitalization surpassed that of rival LVMH Moët Hennessy Louis Vuitton, the conglomerate which tried to buy the maker of the coveted Birkin bag in a stealth raid 15 years ago. Nicole Sy explains how. (Source: Bloomberg)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Irish Regulator Warns Against Caving to Pressure on Bank Rules
Irish Regulator Warns Against Caving to Pressure on Bank Rules

Bloomberg

time32 minutes ago

  • Bloomberg

Irish Regulator Warns Against Caving to Pressure on Bank Rules

Ireland's top banking supervisor warned of a need to stick with high standards of financial regulation particularly now when there is increasing pressure to ease them amid trade wars, geopolitical tensions and fears for global growth. 'If we're trying to chase growth with a deregulation engine I don't think that's going to end well for anybody,' Mary-Elizabeth McMunn, Deputy Governor for Financial Regulation at the Central Bank of Ireland, said at Bloomberg's Future of Finance event in Dublin. 'It also can't be that you simplify things just to such a degree that you really fail to capture complex risks.'

Ireland Sees Thousands of Jobs at Risk From US Pharma Tariffs
Ireland Sees Thousands of Jobs at Risk From US Pharma Tariffs

Yahoo

time43 minutes ago

  • Yahoo

Ireland Sees Thousands of Jobs at Risk From US Pharma Tariffs

(Bloomberg) -- Irish Finance Minister Paschal Donohoe said US pharmaceutical tariffs would cost the economy thousands of jobs and that his focus is on maintaining competitiveness to protect the country's long-term success Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice One Architect's Quest to Save Mumbai's Heritage From Disappearing NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Ireland is running a strong fiscal position with a huge budget surplus thanks to corporate tax income from US multinationals such as Apple Inc. and Pfizer Inc. Speaking on Monday at Bloomberg's Future of Finance in Ireland event in Dublin, Donohoe said that the government must use that surplus with an eye on the longer term. That's particularly that case as tariff uncertainty and a global slowdown mean that a large chunk of that tax revenue is at risk. The government is likely to have tighten the purse strings this year — a stark contrast to last year's budget, which was littered with one-off giveaways for taxpayers. Pharmaceutical tariffs, if imposed by President Donald Trump, are a key concern. They could cost around 75,000 pharma jobs in Ireland, Donohoe warned. 'I will make every effort possible to protect and prioritize capital investment,' Donohoe said, arguing that cuts carry a long-term cost for the economy, businesses and jobs. 'One of my deep lessons from the aftermath of the global financial crisis is, when capital investment is decreased, the costs mount up in the future,' he said. 'If our growth outlook does change, we will use our fiscal position to try to maintain and support capital investment and do all we can to avoid cutting it back again.' The US administration has repeatedly singled out the Irish model, with Commerce Secretary Howard Lutnick saying Ireland runs a surplus at America's expense. Trump even raised the matter with Irish Prime Minister Micheal Martin at a St Patrick's Day White House reception. Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Mideast Oil Flows Through Hormuz Hold Up After US Airstrikes
Mideast Oil Flows Through Hormuz Hold Up After US Airstrikes

Bloomberg

timean hour ago

  • Bloomberg

Mideast Oil Flows Through Hormuz Hold Up After US Airstrikes

Oil shipments through the Strait of Hormuz are holding up in the wake of US airstrikes on Iran — despite warnings of heightened risk and some unusual tanker movements in the region. There were 44 oil carriers that went through the waterway on Sunday, split equally between in-bound and outbound vessels, ship-tracking data compiled by Bloomberg show. That's within norms observed since the start of this month. Total commercial traffic through the strait was also largely within usual ranges.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store