World’s richest man, Bernard Arnault, lost around $11.2 billion from his fortune in one day due to the softening of the US economy, which is likely to dampen luxury goods demand. The investor of LVMH, offering brands such as Louis Vuitton, Moet & Chandon, and Christian Dior, experienced a 5% fall in LVMH shares in Paris. Despite the shares’ slump, Arnault still has a net worth of $191.6 billion, having added $29.5 billion so far this year. Deutsche Bank analysts forecast that the international investors may become selective with European luxury stocks due to slowing growth in the US, which might affect the LVMH share price as well.
Suryoday Small Finance Bank Q3 Results: Profit slumps 42% to Rs 33 crore
Suryoday Small Finance Bank reported a 42% YoY drop in Q3 FY25 net profit to ₹33.3 crore due to higher expenses and worsening asset quality,
January 23, 2025