LVMH ceded its title as the world’s most valuable luxury company on Tuesday, as its market capitalization dropped below rival Hermes. The market capitalization of LVMH, known for brands like Louis Vuitton, Dom Perignon, Givenchy, Tiffany & Co. and TAG Heuer, hovered around 244.1 billion euros as of mid-morning Tuesday, lower than Hermes and its

Citigroup beat Wall Street estimates for first-quarter profit on Tuesday as its traders reaped a windfall from volatile markets that fueled client activity. The third-largest U.S. lender’s earnings echoed those of Wall Street rivals, including JPMorgan Chase, Bank of America, and Morgan Stanley, whose results were also lifted by stronger equities trading. While industry profits

Bank of America topped estimates for first-quarter profit as interest income grew and volatile markets helped its stock traders rake in a record haul. As markets whipsawed around U.S. President Donald Trump’s tariff policies, BofA brought in 9% higher trading revenue, mirroring trends seen at rivals. “Though we potentially face a changing economy in the

Chinese airlines have been ordered not to take any further deliveries of Boeing aircraft in response to the U.S. imposing 145% tariffs on Chinese goods, Bloomberg News reports.  Just before 7 a.m. EST, Boeing’s pre-market share stock price was down 3.72%.   The aerospace company calls itself a “top U.S. exporter” that serves “customers in

More than 18,000 Porsche vehicles are being recalled due to airbag and rearview camera issues. Porsche Cars North America issued two recalls last week, one for 9,735 of its 2022-2023 Taycan sports cars and another for 8,571 of its 2024-2025 Macan electric crossovers, documents submitted to the National Highway Traffic Safety Administration (NHTSA) showed.  The