On a chilly October day in Paris in 2010, Bertrand Puech got an unexpected call on his cellphone from Bernard Arnault, the founder of luxury giant LVMH Moët Hennessy Louis Vuitton SE and one of the world’s richest men. Arnault told Puech, the family patriarch at rival Hermès, that his company had amassed shares in … Read more
A renewed bout of volatility in the bond market impacted stock trading, with investors also awaiting earnings from a handful of big techs. Oil sank as Israel appeared to hold off on a broader ground invasion of Gaza. After several twists and turns, the S&P 500 closed at its lowest since May. The gauge fell … Read more
China moved to support the yuan by increasing the supply of foreign currency in its local market, part of a multi-pronged effort by Beijing to restore confidence amid sluggish growth. Financial institutions will need to hold just 4% of their foreign-exchange deposits in reserve starting Sept. 15, the People’s Bank of China said Friday, compared … Read more
Hong Kong is making preparations for a possible direct hit by Super Typhoon Saola, which is shaping up to be the strongest storm to affect the city in at least five years. The government said it will hold a press conference at 4:30 p.m. local time to brief the public on plans for coping with … Read more