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New York Post
an hour ago
- New York Post
Louis Vuitton owner LVMH in talks to sell Marc Jacobs in deal that could fetch $1B: report
French luxury goods group LVMH is in discussions to sell fashion label Marc Jacobs in a deal that could fetch around $1 billion, the Wall Street Journal reported Friday, citing people familiar with the matter. In 2024, Bloomberg reported that LVMH was exploring strategic options for the label with advisers after receiving interest from potential buyers, though the company denied the claim at the time. The Bernard Arnault-led company has been discussing deals with multiple parties, including Reebok-owner Authentic Brands, Brookstone-owner Bluestar Alliance and Vera Wang parent WHP Global, the newspaper said on Friday. 3 French luxury giant LVMH is in discussions to sell fashion label Marc Jacobs in a deal that could fetch around $1 billion, the Wall Street Journal reported. Getty Images for Marc Jacobs Reuters was unable to immediately verify the report. LVMH, Marc Jacobs and the potential buyers did not immediately respond to Reuters' requests for comments. The Journal said that a deal could be finalized soon, provided talks don't fall apart. Dealmaking in the luxury retail sector has drawn attention in Europe. Earlier this year, Prada acquired Versace from Capri Holdings, combining two iconic Italian fashion brands in a $1.4 billion deal. LVMH's second-quarter sales, which include products such as Louis Vuitton handbags, Dior dresses and Moet & Chandon champagne, came in slightly below market expectations. 3 The Bernard Arnault-led LVMH has been discussing deals with multiple parties. AP 3 Dealmaking in the luxury retail sector has drawn attention in Europe. Earlier this year, Prada acquired Versace from Capri Holdings, combining two iconic Italian fashion brands in a $1.4 billion deal. Marc Jacobs handbags, above. Getty Images for Marc Jacobs French luxury brands have been navigating prolonged market challenges, including a downturn and the potential impact of US import tariffs.
Yahoo
2 hours ago
- Yahoo
TotalEnergies' quarterly earnings drop amid market challenges
French oil giant TotalEnergies' adjusted net income fell to $3.6bn (€3.07bn) for the second quarter of 2025 (Q2 2025), down from $4.7bn in the same period last year. The decline was attributed to lower oil and gas prices, which overshadowed gains from increased production and power sales. The company's first-half adjusted net income stood at $7.8bn. Net debt surged by 89% compared to the previous year, reaching $25.9bn. This increase in debt pushed the gearing ratio, including leases, to 22.6%. Despite this, TotalEnergies continued its share buyback programme, extending a $2bn buyback into Q3. CEO Patrick Pouyanne clarified that the company's normalised gearing ratio, which measures debt to equity, stood at 15%, reported Reuters. He assured that this figure would remain stable throughout the year, bolstered by the anticipated $3.5bn in proceeds from the sale of renewable asset stakes and the disposal of mature oil and gas assets in Nigeria, Brazil and other regions. Despite a 14% rise in quarterly profit to $574m in TotalEnergies' integrated power business, this was not enough to counteract weaker performances in other divisions. The refining and chemicals segment saw earnings plummet by 39% from the previous year. The refining margin for converting crude into fuels also dropped by 21% year-on-year (YoY) to $35.3 per tonne (t), although there is an expectation that margins will improve to above $50/t in Q3 due to heightened fuel demand during Europe's summer driving season. The integrated liquefied natural gas (LNG) unit reported a 9.6% decrease in profit YoY and a 20% fall from Q1 2025. The subdued prices and lack of volatility restricted traders' ability to capitalise on price fluctuations. Looking ahead, TotalEnergies forecasts a 3% rise in hydrocarbon production in Q3 compared with the same period last year. Earlier this month, the Government of Mozambique established essential conditions for the revival of TotalEnergies' $20bn LNG project. The project, which was suspended in 2021 because of an insurgency linked to the Islamic State, is now set to resume. "TotalEnergies' quarterly earnings drop amid market challenges" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Alexander Isak eyes Newcastle exit with Liverpool monitoring situation
Alexander Isak wants to explore options at other clubs and a transfer away from Newcastle United, potentially throwing Eddie Howe's summer plans into chaos. The 25-year-old was not included in last week's friendly defeat to Celtic due to "speculation" around his future, and has now not travelled to Singapore for pre-season due to a thigh injury. Newcastle have been made aware that Isak is keen to consider his future elsewhere. The Independent understands that Howe had already privately told prominent figures at the club this summer that he was concerned about the player's situation. That view also precedes reports of Liverpool's public interest last week. Newcastle's position remains the same, however, which is that Isak is not for sale. Their stance has also been bolstered by the fact that he still has three years left on his current contract. There are also no ongoing talks over a new deal. An offer in the region of £150m may test that, though, especially with the knowledge that the player wants to consider his options. The big question, however, is where such an offer comes from. There are only about eight clubs that could afford such a deal, but almost none of them have the PSR headroom or squad need to make it happen. Liverpool have just spent £79m on Hugo Ekitike, a deal that had been linked to Isak's future given Newcastle's own interest in the French forward. That feasibly rules them out of a future move, although there is the potential twist should Darwin Nunez or Luis Diaz leave. Liverpool do have PSR headroom but want to ensure they have a sustainable squad with a manageable wage bill. Bayern Munich have spoken to Liverpool about Diaz, but it has not yet reached the point of an offer. Liverpool's current stance is that they are comfortable with their options at centre-forward and feel they have their number-nine in Ekitike, but a move for Isak this window has not been ruled out. Mikel Arteta has long been an admirer of the Swede, and would have love to do a deal, but it is seen as virtually impossible that Arsenal's Kroenke ownership will extend the budget. The club are also on the brink of signing Sporting CP's Viktor Gyokeres for less than half of Isak's anticipated price. Chelsea have now ruled out a move, despite previous interest in Isak, and representing one of the few clubs with the available budget. Any move for Isak would have also required a deviation from recent targets, as they continue to pursue moves for Xavi Simons and Jarrel Hato. While virtually every club sees Isak as an outstanding talent, there is some doubt about whether £150m is worth it for a player who has recently struggled to consistently play in full European schedules without injury.