Bloomberg LVMH’s customers are curbing purchases of high-end fashion faster than the company can cut costs, and that’s hitting the Louis Vuitton owner’s profit. The French luxury conglomerate’s profit from recurring operations totalled 1.67 billion euros ($1.96 billion) in the first half, less than the 2.32 billion euros analysts expected. The shares fell as much as 4% on Tuesday in ...

Bloomberg The administrators of South African Airways (SAA), the state-owned airline that’s in bankruptcy protection, want the government to set aside 16.4 billion rand ($998 million) that it’s guaranteed to pay creditors. The Treasury says the current structure of its guarantees should suffice. The administrators want an agreement for the money to be paid into an escrow account — the ...

Bloomberg Kids have only just started their summer break yet Ryanair Holdings Plc Chief Executive Officer Michael O’Leary is already counting the days until they go back to school. With fresh travel restrictions threatening to jeopardise the long-awaited summer recovery, O’Leary said he needs the re-opening of schools in September to reignite business travel and enable Europe’s largest discount carrier ...