Bloomberg Bernard Arnault named his daughter Delphine to run LVMH’s second-biggest brand, Dior, the latest step by the 73-year-old billionaire to elevate his children to key posts in his luxury empire. The appointment comes a month after Antoine Arnault, the eldest son, was given a wider role in the business, replacing Sidney Toledano as chief executive officer and vice ...

  Bloomberg The threat of recession, the cost-of-living crisis and mounting debt distress will dominate the global economy in the next two years as it struggles to move on from the pandemic and war in Ukraine, according to a survey by the World Economic Forum. Its Global Risks Report, an annual poll of 1,200 government, business and civil society professionals ...

  Bloomberg Barratt Developments Plc has seen a sharp slowdown in sales rates as high borrowing costs and the threat of a house price plunge combine to undermine the UK property market. The average number of weekly private sales at Barratt’s sites has more than halved, leading the firm to warn that it could deliver fewer homes than currently expected, ...

Bloomberg For years, Elon Musk paid zero dollars for traditional advertising while almost singlehandedly keeping Tesla — and himself — front and center. With a never-ending stream of tweets, television and podcast appearances and livestreamed product events, the electric-vehicle maker and its billionaire CEO dominated news cycles and occasionally went viral. Musk was a veritable hype machine, and his knack ...

  Bloomberg China said the rising number of warplanes it sends toward Taiwan were due to the island’s “military collusion” with the US, shedding light on its motives for the threatening activity. The People’s Liberation Army “drills are a solemn warning against Taipei’s increased provocation, which damaged peace and stability in the Taiwan Strait,” Ma Xiaoguang, a spokesman for China’s ...

  Bloomberg India will buy portable air defense missiles to deploy along the borders with China as militarization in the region gathers speed and hostilities between the two countries enter a third year. The Defense Acquisition Council — headed by Defense Minister Rajnath Singh — cleared the purchase of the very short range missiles that can be carried by troops, ...

  Bloomberg Former Brazil President Jair Bolsonaro used his Facebook account to share a video of voter fraud conspiracies that echod the main complaints of rioters who ransacked government buildings in Brasilia on Sunday. The video was deleted hours later. Bolsonaro’s post, made Tuesday shortly after he was discharged from a US hospital, didn’t comment on the video’s claims. But ...

Bloomberg The UK and Japan will allow military forces to be deployed to one another’s nations, as Tokyo expands bilateral cooperation with other US allies amid concerns about China’s rise. UK Prime Minister Rishi Sunak was expected to sign a major defense agreement during a meeting Wednesday in London with his Japanese counterpart Fumio Kishida. The pact — the most ...

  Bloomberg Ukraine will stop Russian aggression and the conflict won’t turn into World War III, President Volodymyr Zelenskiy said as his forces battled to keep control of Soledar and Bakhmut in the eastern Donetsk region. The Ukrainian president discussed the Ukrainian–Belarusian border and the Rivne nuclear power plant, according to a statement on his website. “We don’t see anything ...

  Bloomberg Peru’s Congress confirmed President Dina Boluarte’s cabinet on Tuesday evening, overcoming a key test for her month-long administration that has faced mass unrest and left roughly 40 dead. The conservative-led Congress confirmed Boluarte’s cabinet with 73 votes in favor out of a total of 130 lawmakers. The confirmation gives Boluarte some breathing room just a day after the ...