Gucci owner Kering tanks 14% after Asia profit warning, dragging down Europe luxury brands

Mar 20, 2024 | Markets

Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions. The rare profit warning forecasts overall group revenues to drop 10% in the...

Google pauses Gemini AI image generator after it created inaccurate historical pictures

Feb 22, 2024 | Markets

Google on Thursday said it is pausing its Gemini artificial intelligence image generation feature after saying it offers “inaccuracies” in historical pictures. Users on social media had been complaining that the AI tool generates images of historical figures — like...

Family offices are going on the offensive, trading cash for alternative assets

Feb 16, 2024 | Markets

KKR’s family office survey of 75 chief investment officers around the world found that family offices will have 52% of their portfolios invested in alternative investments this year, up from 42% in 2022. Cash holdings fell from 11% to 9% from 2022 to 2023, and their...

Prices rose more than expected in January as inflation won’t go away

Feb 14, 2024 | Markets

The consumer price index increased 0.3% in January, the Bureau of Labor Statistics reported. On a 12-month basis, that came out to 3.1%, down from 3.4% in December. Shelter prices accounted for much of the rise, climbing 0.6% on the month, contributing more than...

CIO calls a new phase in the market, says a ‘healthy’ rotation has begun

Jan 8, 2024 | Markets

The so-called “Magnificent Seven” stocks — Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla — now represent around 30% of the entire market cap of the S&P 500 index. Bank CIO Charles-Henry Monchau said the market will undergo a welcome “broadening of the...