Bloomberg LVMH SE posted strong revenue growth as the world’s largest seller of luxury goods defied disruptions from the war in Ukraine and the resurgence of Covid-19 in China, a potential harbinger for the rest of the industry. First-quarter sales advanced 23% on an organic basis to 18 billion euros ($19.5 billion), led by LVMH’s biggest unit, fashion and …

  Bloomberg India barred 90 pilots from flying Boeing Co 737 Max jets after finding problems with a simulator they’d trained on to operate the aircraft, which the country cleared to fly again in August following a global grounding. A routine check of the simulator revealed deficiencies, and an investigation is underway to discover what caused them, Arun Kumar, chief …

  Bloomberg Walmart named PayPal Holdings Chief Financial Officer as its new finance chief, turning to a company outsider as it seeks to build a financial-technology venture and a membership program. Rainey will start his new job June 6, Walmart said in a statement. A veteran of United Airlines who jumped to PayPal in 2015, Rainey will replace Brett Biggs, …

Bloomberg Online prices in the US rose 3.6% last month from a year earlier, matching February’s record high, according to data compiled by Adobe Inc. From groceries to clothes and pet products, 14 of the 18 categories tracked by Adobe recorded price increases since March 2021. Online inflation, first observed in June 2020 after years of declines, has now persisted …

Bloomberg The average price of a Toronto home dipped in March as a slight cooling of activity allowed the pace of new listings to close the gap with sales, even as the market remained heavily tipped in sellers’ favour compared with historic standards. The average home price in Canada’s largest city dipped 2.6% to just under C$1.3 million in March …

  Bloomberg The economic cycle is advancing to a point where valuations may finally matter again for stock and bond investors. Fortress-like in their refusal to bend for the better part of a decade, both asset classes have come under pressure thanks to the ever-stiffening resolve of central banks to restore order to the global economy. The S&P 500 has …

Bloomberg Investors are flooding into exchange-traded funds focused on semiconductor stocks, wagering the industry will rebound from the supply-chain snags and chip shortage that have dragged the shares lower. Semiconductor ETFs have seen roughly $6.8 billion of inflows since the beginning of the year, surpassing the $5.2 billion for all of 2021 and the $2.1 billion for the year before, …

Bloomberg South Africa’s Eskom Holdings SOC Ltd is scrutinising contracts to buy power from a government program for private developers to quickly bring on board additional generation. The state-owned utility started scheduled power cuts for the first time in almost a month, cutting 2,000 megawatts from the grid. That was due to breakdowns that affected a range of units, including …

  Bloomberg European natural gas prices edged higher, following seven sessions of declines, with Russian supplies through Ukraine expected to fall. Orders dropped to about 68% of the amount that Gazprom PJSC can send under its transit contract. The Russian company reiterated that flows were in line with requests from customers. Supplies through another pipeline, the Nord Stream, were near …

Bloomberg China is slashing liquefied natural gas (LNG) purchases as soaring global prices deepen import losses and pandemic lockdowns throttle domestic demand. Imports in the first quarter fell 14% from the same period last year, according to shipping data, and private companies are spurning offers to use once-highly coveted slots at state-owned receiving terminals. Consultancy Wood Mackenzie Ltd said it …