>> we have seen lvmh and the arnault family in sport.hey were sponsors of the paris 2024 olympics and the formula 1 sponsorship. that was lvmh. now this football club is relatively unknown. the paris fc. paris is an anomaly if you compare to italy with seven clubs and france has one. this raises questions saying how will this family do with the football club that is just at the top of the league and hoping for promotion. they are hoping with a very small club. interesting tie up with red bull and with other football clubs, they have jurgen klopp as well. they have two strong fire powers there joining forces for the club. i had a chance to catch up with the son of bernard arnault who has been leading the charge. i asked about the tie up here and what it meant for the luxury and sport. >> if we wanted a trophy asset, obviously, we have not taken on this project. there are other, bigger and other teams around europe. it's the opposite. we want to build the story of resilience and build a story of hard work and with beautiful values and crea

their china sales were down by 24% in the first half of the year, comparable to lvmh, but compared tocularly the french fashion houses, burberry has underperformed, so there is a global issue but there is a global issue but there has been a structural problem, because they were concentrating on the wrong market. they were not focusing on their back to basics, trench coats and scarves, as you mentioned, and that didn't pay off. while burberry is at a low ebb, it's being eyed up for a takeover by the italian brand moncler. what's the latest on that? it was conspicuous bias absence in the call with the ceo, it seems like, whilst that has been put to bed for now, moncler is another big outerwear provider of expensive products, so it bit potentially be complimentary. but i think the 15% rise in share prices the 15% rise in share prices the market is willing to give burberry another chance. the other thing that could boot a one off as it has become more expensive to buy burberry after today's results. they might see how this goes and that is probably something, give them six months or a yea

they had to compete with hermes and lvmh, for example, and i saw their sales affected by that.— affected by that. how much other problems that - affected by that. how much i other problems that burberry affected by that. how much - other problems that burberry is facing right now kind of permeates the entire luxury sector? . ., , permeates the entire luxury sector? . .,, ., sector? the cost of living crisis has _ sector? the cost of living crisis has really - sector? the cost of living crisis has really impacted sector? the cost of living - crisis has really impacted the luxury goods market. we have seen a slowdown in chinese consumer consumption and so that has impacted lots of luxury goods across the board. but there clearly is a structural problem at burberry because they have been dented slightly more than the other french design houses and so thatis french design houses and so that is why this core offering change is quite important and imperative to the future of burberry�*s business. it will be interesting to see if it works and the new boss, he is from michael coors and coach. he

tiffany hayes is owned by the world's largest luxury conglomerate lvmh.d shortfall of thousands of craftspeople across dozens of brands. to meet its needs, it is expanding its apprenticeship program, training and recruiting 2400 artisans over the next two years. historically, these are based in europe. now lvmh is bringing them to united states. >> we have so many skills in the united states and so many people that are basically attracted by craft. and we have certain opportunities to find new talent. when we started the program in the u.s., we had so many candidates. and we are having very good results because almost 90% of the customers at the end of the day, at the end of the train have a diploma and almost 70% of the people are recruited. >> some young artisans are also taking on the mantle to save the crafts. o'hara sources materials locally and all are handmade. once a thriving it is true, it is now down to a few suppliers. many closed during the pandemic. to revive it she started a nonprofit, it is running after school programs to inspire young tal

and luxury giant lvmh is now in the business.purchased a stake in french bloom, a nonalcoholic wine that starts at under $40 a bottle but can go up to 100. the brand, launched in 2021 and has been doubling in sales each year. >> we believe the essence of fine wine lies in its complexity, depth and the emotions it evokes. alcohol can be secondary. >> ke papa, fox news. >> that's interesting. and not just wines, but you're also seeing it with cocktails and other kinds of things. it's nonalcoholic. >> tis the season to for the next couple of months, all the way up to new years. thanks for watching, everybody. don't forget to stream the latest news and weather anytime on your smar t just wnlo t (dramatic orchestra music begins) - [robert] vietnam. to many, the name invokes images of a war torn and painful past. but today vietnam is shifting that image, welcoming travelers and investments from around the world. as a result, it's the economy, not the bombs that are booming. a brand new generation of locals welcomes adventurous traveler

the lvmh ceo saying he's completely unaware someone was trying to blackmail him.ase centering around a paparazzo who demanded 300,000 euros in exchange for photos of him with a woman who is now his wife. direct line insurance has rejected the 3.3 billion pounds takeover bid. it substantially undervalues the business. they have until december 25 to announce a firm intention to make an offer or walk away. it's a second takeover bid projected by direct line following a proposal of the belgium rifle. the larger ikea franchise saw a sharp decline in full-year profit after a round of price cuts in tough economic conditions weighed on the bottom line. the furniture seller reported a 37 decline to $1.3 billion for the financial year through august. coming up, we will talk about the defense base. ukraine seeking more weapons and equipment to shore up its defenses against russia ahead of any possible drop-off in support during the trump presidency. that conversation is next. this is bloomberg. ♪ southern new hampshire university makes it possible for working adults and pare

here, we see a stock that is more resilient with luxury up 12% against lvmh because they are exposedo the higher end of luxury. little more resilient, but not completely resilient with the slowdown in china. that's why we see these numbers and reaction with the stock in the red this morning. dan. >> charlotte, terrific. enjoy your weekend ahead. >>> moving on, industry leaders have urged the government to hold a snap election to address economic challenges in the country. it comes after chancellor olof scholz dismissed his finance minister christian lindner leading to the break up of the coalition. personal adviser to lindner says there is a strong case for a snap election sooner rather than later. >> it is important to reduce uncertainty in economic policy as soon as possible. that is why consumption remains low in germany. we have a stagnating economy and inflation is above 2%. we have huge structure problems because firms face a mixture of high costs with regard to labor, energy and taxes and regulation. this paper has tried to change this in order to ensure that firms have an inc

suggested the italian luxury brand could approach burberry and take on the largest shareholder of lvmhmoncler refused to comment over the rumors when approached by cnbc. >>> in other corporate developments this morning, continental shares are accelerating after the third quarter core profit beat with the suggested ebitda coming in at 873 million euro. the auto parts maker lowered the top part of the group outlook by 500 billion euro with sales coming in as a maximum of 42 billion. >>> in other corporate developments hannover re hiked the profits by 200 million euro. this after sales rose to 20 billion euro in the first nine unde months of the year. in terms of the data we obtained this morning, consumer prices in china rose at the slowest pace in october while producer price inflation deepened. i'm pleased to say duncan wrigley is joining us this morning. good to see you. i know investors were not very pleased with details we obtained on friday from chinese authorities. were they right? were you also disappodisappoint? do you think they should be doing more? >> i think they should be d

we know montcler has firepower backed by lvmh. >> i was thinking about the conversation we had recentlyhether we are actually going it see further mergers in the sector. let's see what the happens say in the recent days. more interesting developments within fashion. thanks, charlotte. >>> i want to take you to ryanair. the company reported earnings and this came in with an 18% drop in the first half profit. coming in at just under 1.8 billion euro in line with the expectations. this was on the back of weaker fares. the budget carrier says the price declines appear to be moderating and that bookings for the third quarter have started off strongly. i want to take you to how we are trading in terms of some of the airline names in europe. looking at, for instance, lufthansa, trading above the flat line marginally really. we have seen lufthansa under pressure last week. we are continuing to see relief with air france and easyjet. let's not forget we are also looking at higher oil prices this morning. that could be also impacting the moves we are seeing within airlines. we had a chance to spe

and luxury giant lvmh is now in the business.hased a stake in french bloom, a nonalcoholic wine that starts at under $40 a bottle but can go up to 100. the brand, launched in 2021 and has been doubling in sales each year. >> we believe the essence of fine wine lies in its complexity, depth and the emotions it evokes. alcohol can be secondary. >> ke papa. fox news. >> ktvu fox two news at five starts now. >> we all put our life jackets on and got in the water and hang on to the boat. while some of us separated from the boat. >> now at five, chilling testimony from a 13 year old boy, the lone survivor of a deadly boating accident in bodega bay. he shares his remarkable story of survival with ktvu as his family mourns those who are still missing. >> i felt like i was going to die at some point, so i just had to adventure out to find help. >> the family's boat capsized last week, and the search for the missing relatives is ongoing tonight. good evening. this friday, i'm cristina rendon. and i'm greg lee. >> 13 year old jude comic-con

now, lvmh is bringing them to the united states. >> we have so many skills in the u.s.any people that are basically unattractive by craft. we have the opportunity to find new people when we started the program in the u.s. we have so many candidates and we are tilting it up. 90% of the person at the end of the day, at the end of the training have a diploma. almost 70% of the people are recruited in the maison. pavni: some young artisans are also taking on the mantle to save the crafts. gigi burris o'hara is a millner. she sources materials locally and all hats are handmade. once a thriving industry, it is now down to a few suppliers. many closed during the pandemic. to revive it she started a nonprofit closely crafted. it's running afterschool programs to inspire young talent to go behind the seams. >> workforce is primarily in their late 40's, 50's and 60's. so there has been a tremendous gap between individuals that are in this aging workforce and the new individuals that are coming up. we are talking about 10 to 20 years difference. and if we continue to see that work

yahaira: lvmh is shuffling its leadership.ly at the new york-based jeweler tiffany & co.. lvmh names a group human resources head after the previous head after the previous had left the company. this is feeling more succession as bernard renault remains ceo but his children have key positions. an initial public offering in the u.s., submitting a draft registration statement to the fec. the shares and price range haven't been determined, but the valuation is about 14.6 billion dollars. sources tell bloomberg that the ipo is expected next year and that the company is working with goldman sachs, j.p. morgan, morgan stanley to a range offering. no longer having to pay broker fees assigning a new apartment lease. in a measure passed by the city council on wednesday, the fairness in apartment rental expenses was approved. landlord to hire real estate agents will have to pay the agency themselves instead of passing them on to tenants. there is a 30-day window for the mayor to sign the act into law and it will take effect 180 days aft

the only top ten billionaire who has lost wealth is lvmh chair bernard arnault, he is down $5 billionn musk has basically gained what he paid for twitter plus $6 billion just in the last week. >> yeah. that's right. i forgot about twitter. in fact, we were discussing it earlier, and i mentioned this pay package numerous times, almost worth $100 billion. quickly on gates. the gates foundation has done an enormous amount of good in the world and they've spent an enormous amount of money, but robert, what about the math if he'd held on his stake in microsoft i think he'd be a trillion trillionaire at this point. >> i don't know about a trilltri trillionaire and you add in the divorce if he'd stayed married and not given away any shares i would think he would be at musk or above it. >> bezos also, right? he gave mackenzie plenty, but didn't seem to suffer for it. >> no. no. they're both doing okay. >> okay. robert, thank you. robert frank. >>> meantime, nice opening rally here to start the week. a lot is headed our way, of course, not much in the way of earnings. i think 90% of the s&p is

industry sources say the lvmh boss is in favor of a deal.the greatest forces in pop music history has passed away. record producer quincy jones died at the age of 91 at his home in los angeles. he rose to prominence are raising -- arranging jazz productions before collaborating with frank sinatra and sammy davis junior. he went on to reduce the most successful albums of michael jackson's career. his career lasted more than 70 years and includes 28 grammy awards. that is your brief. jonathan: the word legend has lost its meaning over the last few years. that was one. next, prioritizing america's economy. >> the president has the right to impose tariffs on these countries that are hurting us. >> investing in american industries is the way we are going to win the competition with china for the 21st century. jonathan: that conversation up next. this is bloomberg. ♪ where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like