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Louis Vuitton head Pietro Beccari to become CEO of LVMH’s fashion division

Dec 2 (Reuters) - Louis Vuitton CEO Pietro Beccari has been appointed as the chief executive of LVMH's fashion division, the French luxury giant said on Tuesday. Beccari will combine his new responsibilities with those at Louis Vuitton from January 1, the group said in ...
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US investor Saba Capital blocks merger of Baillie Gifford-managed trusts in London

Dec 2 (Reuters) - U.S. activist investor Saba Capital has blocked a proposed merger of two London-listed Baillie Gifford-managed investment trusts, the firms said on Tuesday, derailing a deal that would have offered shareholders a 40% cash exit to net asset value. Baillie Gifford US ...
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Exclusive-Exxon Mobil approached Iraq about buying Lukoil’s West Qurna oilfield stake, sources say

Dec 2 (Reuters) - Exxon Mobil has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil's majority stake in the giant West Qurna 2 oilfield, five Iraqi official sources with direct knowledge of the matter told Reuters. Exxon declined ...
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Exclusive-Exxon in talks with Iraq about buying Lukoil stake in giant West Qurna 2 oil field –  sources

By Ahmed Rasheed BAGHDAD, Dec 2 (Reuters) - Exxon Mobil has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil's majority stake in the giant West Qurna 2 oilfield, five Iraqi official sources with direct knowledge of the matter told ...
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Exclusive-China issues first batch of streamlined rare earth export licenses, source says

Dec 2 (Reuters) - At least three Chinese rare earth magnet makers have secured licenses enabling them to accelerate exports to some customers, a source familiar with the matter said on Tuesday, fulfilling a key outcome of the summit between Presidents Donald Trump and ...
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Second proxy adviser calls for vote against Westpac director over ASX stint

By Scott Murdoch and Christine Chen SYDNEY, Dec 2 (Reuters) - A second influential proxy adviser has recommended institutional investors vote against re-electing Westpac non-executive director Peter Nash, citing his six-year stint on the board of the troubled Australian Securities Exchange (ASX). CGI Glass Lewis ...
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Morning Bid: Auction bid steadies Japan bond slide

A look at the day ahead in European and global markets from Tom Westbrook There was relief in the Japanese government bond market on Tuesday, where a 10-year auction went off quite well and helped to stabilise a sell-off that had ricocheted around the world. A ...
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India mandates pre-installation of government cyber safety app on all smartphones

NEW DELHI (AP) - India's telecoms ministry has directed smartphone manufacturers to pre-install a government-run cybersecurity app on all new devices, according to a government order, raising concerns of data privacy and user consent in one of the largest handset markets in the world. The ...
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AI’s impact could worsen gaps between world’s rich and poor, a UN report says

BANGKOK (AP) - Behind the hoopla over the promise of artificial intelligence lay difficult realities, including how such technology might affect people already disadvantaged in a data-driven world. A new report by the United Nations Development Program notes most of the gains from AI are ...
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Analysis-EU takes small steps in uphill struggle to wean savers off cash

By Valentina Za and Jesús Aguado MILAN/MADRID, Dec 2 (Reuters) - A decade after it began working on a capital markets union, the EU is still struggling to agree a framework that encourages savers to put their cash to work within the bloc rather than ...
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Asian shares advance after a retreat on Wall Street

BANGKOK (AP) - Asian shares mostly advanced on Tuesday after U.S. stocks gave back some of last week's rally, pressured by rising global bond yields. U.S. futures and oil prices were little changed. Tokyo's Nikkei 225 gained 0.5% to 49,534.36, with financial shares the biggest ...
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Bond and bitcoin selloff leaves stocks unsteady

By Tom Westbrook SINGAPORE, Dec 2 (Reuters) - Stocks made muted gains and traders were wary on Tuesday, following a slide in cryptocurrencies and a global bond selloff triggered by a looming interest rate hike in Japan. S&P 500 futures were steady in early trade, after ...
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