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REVEALED: 2 | Vintage Vibes

4 Stocks Hedge Funds Are Selling Right Now

The Federal Reserve’s hawkish stance is expected to keep the markets volatile and might significantly affect the interest-rate-sensitive tech industry. Amid the uncertain market environment, hedge funds have been selling shares of Shopify (SHOP), Nu Holdings (NU), Snap (SNAP), and Farfetch (FTCH). Given these companies' weak financials and bleak growth…

StockNews.com

Burberry, Richemont Shares Slump on China Jitters, Weaker US

Burberry and Richemont on Friday laid bare the damage to sales inflicted by China's strict lockdowns, driving their shares sharply down and renewing concerns about the outlook for the world's top luxury goods market. Signs of weakness creeping into the US market, the industry's other main growth engine, added to…

Asharq Al-Awsat

IWC and Jaeger-LeCoultre owner Richemont says Gen Z and millennials are getting into luxury watches

Company owns brands including Cartier, Dunhill and Montblanc

Evening Standard

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Clock Ticking on Swiss Watches' Raw Materials from Russia

Diamonds shine brightly at this year's Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss watch industry to produce more subdued designs. Russia is a major supplier of diamonds, gold and other precious metals to the luxury watchmakers exhibiting at Watches and Wonders, one of…

Asharq Al-Awsat

Major jewellers to cease buying Russian-origin diamonds after increased scrutiny

Several big name brands including Tiffany, Pandora and Chopard announce a pause on buying raw materials of Russian origin amid war in Ukraine

The Guardian - AU

Hermes, Richemont Temporarily Close Russian Luxury Goods Stores

Birkin bag maker Hermes and Cartier owner Richemont said on Friday they are temporarily closing Russian stores and pausing all commercial activities in the country, the first major global luxury firms to announce such a move. Doing business in Russia has become complex since Russia's invasion of Ukraine, which prompted…

Asharq Al-Awsat

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