Swiss luxury group Richemont, owner of Cartier and other iconic luxury brands, on Friday reported sales ahead of analysts' forecasts notably thanks to strength in its jewellery division. Strong demand for jewellery boosted the sales of brands Buccellati, Cartier, Van Cleef & Arpels and Vhernier by six percent in the reporting period, with momentum accelerating in the second quarter.
Europe's embattled auto industry and its backers are ramping up pressure on the EU to relax its planned 2035 ban on new petrol and diesel car sales -- hoping for a decision by year end. "If we abandon the 2035 target, forget about European battery plants," President Emmanuel Macron warned after an EU summit in October.
Netflix faced fierce criticism on Friday over its blockbuster deal to acquire Warner Bros., the storied Hollywood studio. The deal's biggest loser may be Warner Bros. competitor Paramount Skydance, the Hollywood studio owned by Larry Ellison, one of the world's richest people and a close ally of US President Donald Trump.
US consumer pricing and sentiment reports released Friday pointed to lingering questions about affordability as the calendar moves towards the peak of the festive season. The data did not significantly move the US stock market on Friday.
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