Louis Vuitton owner eyes jewelry icon Tiffany & Co - CNN

LVMH, which is run by billionaire CEO Bernard Arnault and owns brands such as Louis Vuitton and Christian Dior, confirmed its interest on Monday after several media outlets reported over the weekend that it had made a takeover offer for Tiffany.

The French fashion conglomerate acknowledged only that it held "preliminary discussions" regarding a "possible transaction" with Tiffany, adding that "there can be no assurance that these discussions will result in any agreement."

Bloomberg and others have reported that LVMH approached the jeweler with an all-cash proposal earlier this month that would value Tiffany at about $14.5 billion, or $120 a share. That's roughly 20% more than the stock's closing price Friday.

Tiffany (TIF) has brought on advisers to review the offer and so far hasn't responded to LVMH (LVMHF), according to Reuters, which cited anonymous sources familiar with the matter.

Shares of Tiffany skyrocketed nearly 20% in premarket trading Monday, while LVMH stock was up 0.4% in Paris. Tiffany did not immediately respond to a request for comment from CNN Business.

"A takeover of Tiffany could make a lot of sense," analysts at Bernstein wrote in a research note. While Tiffany is one of the world's best-known luxury brands, the analysts said it still has room to grow, particularly in jewelry and watches.

The deal would boost LVMH's presence in the United States, which accounts for about a quarter of its revenue. It would also bolster the French company's jewelry and wristwatch lineup, which include European legacy brands such as Bulgari, Hublot and TAG Heuer. As of January, the jewelry and watch unit only brought in 9% of overall revenue, according to a letter to shareholders.

LVMH is the world's biggest luxury group. The company is home to 75 different brands, and it has for years been the top seller of high-end goods, according to a Deloitte analysis published this year. Last year, the retail giant took in 46.8 billion euros ($51.9 billion) in revenue.

Tiffany has had a more complicated story. The company has long dealt with slumping sales, and in 2017 it replaced its CEO after disappointing financial results. Since then, it has been working to rebrand its image to attract more millennials — adding more products that are designed to appeal to young shoppers, rolling out more targeted marketing and revamping its historic flagship store in New York City to draw in more customers.

In the company's most recent earnings report in August, it said that global sales dropped 3% in the first half of this year. But it also said it enjoyed "strong growth" in mainland China, where the slowing economy has put pressure on the broader luxury sector.

The company's "long-term growth potential in China" is one of the main factors that makes it attractive to buyers, analysts at Cowen wrote in a note on Sunday.

An acquisition of Tiffany would be one of LVMH's splashiest deals to date. In 2017, the company took over Christian Dior for $13 billion, and last year it snapped up the ritzy Belmond hotel chain for $2.6 billion.

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https://www.cnn.com/2019/10/28/investing/lvmh-tiffany-co-louis-vuitton/index.html

2019-10-28 11:34:00Z
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Louis Vuitton owner eyes jewelry icon Tiffany & Co - CNN

LVMH, which is run by billionaire CEO Bernard Arnault and owns brands such as Louis Vuitton and Christian Dior, confirmed its interest on Monday after several media outlets reported over the weekend that it had made a takeover offer for Tiffany.

The French fashion conglomerate acknowledged only that it held "preliminary discussions" regarding a "possible transaction" with Tiffany, adding that "there can be no assurance that these discussions will result in any agreement."

Bloomberg and others have reported that LVMH approached the jeweler with an all-cash proposal earlier this month that would value Tiffany at about $14.5 billion, or $120 a share. That's roughly 20% more than the stock's closing price Friday.

Tiffany (TIF) has brought on advisers to review the offer and so far hasn't responded to LVMH (LVMHF), according to Reuters, which cited anonymous sources familiar with the matter.

Shares of Tiffany skyrocketed nearly 20% in premarket trading Monday, while LVMH stock was up 0.4% in Paris. Tiffany did not immediately respond to a request for comment from CNN Business.

"A takeover of Tiffany could make a lot of sense," analysts at Bernstein wrote in a research note. While Tiffany is one of the world's best-known luxury brands, the analysts said it still has room to grow, particularly in jewelry and watches.

The deal would boost LVMH's presence in the United States, which accounts for about a quarter of its revenue. It would also bolster the French company's jewelry and wristwatch lineup, which include European legacy brands such as Bulgari, Hublot and TAG Heuer. As of January, the jewelry and watch unit only brought in 9% of overall revenue, according to a letter to shareholders.

LVMH is the world's biggest luxury group. The company is home to 75 different brands, and it has for years been the top seller of high-end goods, according to a Deloitte analysis published this year. Last year, the retail giant took in 46.8 billion euros ($51.9 billion) in revenue.

Tiffany has had a more complicated story. The company has long dealt with slumping sales, and in 2017 it replaced its CEO after disappointing financial results. Since then, it has been working to rebrand its image to attract more millennials — adding more products that are designed to appeal to young shoppers, rolling out more targeted marketing and revamping its historic flagship store in New York City to draw in more customers.

In the company's most recent earnings report in August, it said that global sales dropped 3% in the first half of this year. But it also said it enjoyed "strong growth" in mainland China, where the slowing economy has put pressure on the broader luxury sector.

The company's "long-term growth potential in China" is one of the main factors that makes it attractive to buyers, analysts at Cowen wrote in a note on Sunday.

An acquisition of Tiffany would be one of LVMH's splashiest deals to date. In 2017, the company took over Christian Dior for $13 billion, and last year it snapped up the ritzy Belmond hotel chain for $2.6 billion.

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https://www.cnn.com/2019/10/28/investing/lvmh-tiffany-co-louis-vuitton/index.html

2019-10-28 10:54:31Z
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The Popeyes Chicken Sandwich: Chain announces official return date for sold-out item - Fox News

November 3 is the official return for the fast food chain's beloved, yet short-lived, sandwich. (Popeyes)

Have you heard the word? Popeyes' highly anticipated (and ridiculed and sexy) chicken sandwich, which sold out just two weeks after its debut, is officially returning to stores in early November.

November 3 to be exact.

POPEYES TEASES 'BRING YOUR OWN BUN' CAMPAIGN, SUGGESTS CUSTOMERS MAKE THEIR OWN SANDWICHES

Popeyes' press release confirming the news was as simple as the chicken sandwich itself, and contained only two words: “I’m Back.”

Franchise owners had tipped their hand about the sandwich’s comeback last week, but the fast-food chain only confirmed the nationwide return in the Monday press release. Popeyes also debuted an advertisement for the sandwich's return that takes aim at its now-competitor Chick-fil-A, and the unavailability of their chicken sandwiches on Sundays.

The sandwich, which most fast-foodies are very much aware of at this point, was released in August and sold out two weeks later. It was then removed from menus across the nation while fans waited for the chain to announce a return date.

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During that time, the sandwich sparked a Twitter beef between Chick-fil-A — which Popeyes seems intent on drawing out, according to its new marketing campaign — as well as an intense "Chicken War" that eventually grew to involve Buffalo Wild Wings and Wendy's.

Popeyes appears to be taking its beef with Chick-fil-A out of the kitchen and onto the streets. (Popeyes)

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For those unfamiliar, the sandwich at the center of this controversy features a breaded chicken filet on a brioche bun, with pickles and either mayo or spicy Cajun spread.

And it can (maybe) be yours stating Nov. 3 — because if history tells us anything, you might want to get there sooner rather than later.

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2019-10-28 11:33:41Z
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Luxury goods firm LVMH eyes Tiffany takeover - BBC News

Luxury goods firm Louis Vuitton (LVMH) has confirmed it has held "preliminary discussions" about buying US jeweller Tiffany,

The statement followed reports that LVMH had made a $14.5bn (£11.3bn) offer to buy the company.

"The LVMH Group confirms that it has held preliminary discussions regarding a possible transaction with Tiffany," it said.

LVMH is owned by France's richest man, Bernard Arnault.

It produces a wide range of luxury goods including clothing, cosmetics, perfumes, drinks and fashion accessories, including its signature Louis Vuitton handbags.

It also owns brands such as Christian Dior, Givenchy and Kenzo, as well as many of the best-known champagne brands, including Dom Pérignon and Moët & Chandon.

Global demand for its products has held up well in recent years, but the same cannot be said for Tiffany, which has seen worldwide sales fall this year.

LVMH said there was "no assurance" that its talks with Tiffany would produce an agreement.

The announcement by LVMH came after media reports that the firm had submitted a preliminary, non-binding offer to Tiffany earlier this month.

The offer is said to value Tiffany at about $120 a share.

Analysts say LVMH is keen to expand in the US, where Tiffany is based.

LVMH has 75 brands, 156,000 employees and a network of more than 4,590 stores, while Tiffany employs more than 14,000 people and operates about 300 stores, including its flagship outlet on Fifth Avenue in New York.

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https://www.bbc.com/news/business-50205953

2019-10-28 10:38:09Z
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2 Passive Ways to Boost Your Social Security Benefits - The Motley Fool

Chances are, Social Security will be a substantial source of income for you once you retire, so the higher those benefits are, the less financial stress you'll grapple with. Now you'll often hear that you should make an effort to boost those benefits as much as possible. But actually, in some cases, you can raise those benefits by taking no action at all. Here are a couple of passive ways to get more money from Social Security during your golden years.

1. Don't file early

The Social Security Administration lets you start collecting benefits at age 62, but you won't get the full monthly benefit you're entitled to until you reach full retirement age, or FRA. Your FRA is determined based on your year of birth, as follows:

Year of Birth	Full Retirement Age
1943-1954	66
1955	66 and 2 months
1956	66 and 4 months
1957	66 and 6 months
1958	66 and 8 months
1959	66 and 10 months
1960 or later	67

DATA SOURCE: SOCIAL SECURITY ADMINISTRATION.

Filing early will generally result in a permanent reduction in benefits. You'll lose 6.67% a year for the first 36 months you claim benefits ahead of FRA, and then 5% a year for each 12-month period thereafter. In other words, filing for Social Security three years early will slash your benefits by 20%. Filing four years early will result in a 25% reduction, while filing five years early will lead to a 30% cut. But if you sit back, do nothing, and wait until FRA to file, you'll get more money than you would by filing sooner. And if you delay benefits past FRA, you'll permanently boost them by 8% a year in the process, up until age 70.

IMAGE SOURCE: GETTY IMAGES.

2. Don't retire early

Your Social Security benefits are calculated based on your 35 highest-paid years of wages. But most people earn more at the end of their career than they do at the beginning, which means that if you hold off on retiring and stay in the workforce later in life, you might boost your benefits by virtue of replacing some lower-earning years with higher earnings.

Imagine you started working full-time at age 22, and you're thinking of retiring at age 57. In doing so, you'll still have a full 35 years of work under your belt; you won't risk having any zeros factored into your benefits equation, which is what happens to people who don't put in a full 35 years in the workforce. But if you earned $25,000 a year at age 22, and you're earning $125,000 a year now, by not retiring, you'll have the potential to replace some years of lower income with a higher income. (Keep in mind that when determining your benefits, the Social Security Administration does adjust earlier earnings for inflation; but a $25,000 salary earned 35 years ago still can't compare to $125,000).

Get the most out of Social Security

Even if you amass a healthy amount of savings for retirement, there's a good chance you'll still need your Social Security income to pay for extra expenses or enjoy the luxuries you've been looking forward to all your life. The good news is that you have the power to increase your benefits by not taking action -- by letting your benefits grow rather than claiming them early, and by staying in the workforce rather than marching into your boss's office and resigning.

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https://www.fool.com/amp/retirement/2019/10/28/2-passive-ways-to-boost-your-social-security-benef.aspx

2019-10-28 10:36:00Z
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Luxury goods firm LVMH eyes Tiffany takeover - BBC News

Luxury goods firm Louis Vuitton (LVMH) has confirmed it has held "preliminary discussions" about buying US jeweller Tiffany,

The statement followed reports that LVMH had made a $14.5bn (£11.3bn) offer to buy the company.

"The LVMH Group confirms that it has held preliminary discussions regarding a possible transaction with Tiffany," it said.

LVMH is owned by France's richest man, Bernard Arnault.

It produces a wide range of luxury goods including clothing, cosmetics, perfumes, drinks and fashion accessories, including its signature Louis Vuitton handbags.

It also owns brands such as Christian Dior, Givenchy and Kenzo, as well as many of the best-known champagne brands, including Dom Pérignon and Moët & Chandon.

Global demand for its products has held up well in recent years, but the same cannot be said for Tiffany, which has seen worldwide sales fall this year.

LVMH said there was "no assurance" that its talks with Tiffany would produce an agreement.

The announcement by LVMH came after media reports that the firm had submitted a preliminary, non-binding offer to Tiffany earlier this month.

The offer is said to value Tiffany at about $120 a share.

Analysts say LVMH is keen to expand in the US, where Tiffany is based.

LVMH has 75 brands, 156,000 employees and a network of more than 4,590 stores, while Tiffany employs more than 14,000 people and operates about 300 stores, including its flagship outlet on Fifth Avenue in New York.

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https://www.bbc.com/news/business-50205953

2019-10-28 09:41:01Z
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US business hiring falls to a 7-year low - Fox Business

Fox News Contributor Deroy Murdock responds to minority hiring surpassing white hiring in August.

Later this week the government will release the monthly jobs report for October at a time when a new survey says business hiring is slowing.

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Hiring by U.S. companies has fallen to a seven-year low and fewer employers are raising pay, a business survey has found.

Just one-fifth of the economists surveyed by the National Association for Business Economics said their companies have hired additional workers in the past three months.

That is down from one-third in July. Job totals were unchanged at 69 percent of companies, up from 57 percent in July. A broad measure of job gains in the survey fell to its lowest level since October 2012.

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The hiring slowdown comes as more businesses are reporting slower growth of sales and profits.

Business economists also expect the economy's growth to slow in the coming year, partly because tariffs have raised prices and cut into sales for many firms.

Perhaps because of concerns over a weakening economy, businesses are less likely to offer higher pay, even with unemployment at a 50-year low. Just one-third of economists said their firms had lifted pay in the past three months, down from more than half a year ago.

Companies are also cutting back on their investments in machinery, computers, and other equipment. The proportion of firms increasing their spending on such goods is at its lowest level in five years, the survey found.

WHERE ARE ALL THE JOBS? THESE SECTORS HIRED THE MOST IN SEPTEMBER

Sales are also growing more slowly. Just 39 percent of economists said they rose in the past three months, down from 61 percent a year earlier. And only 38 percent said they expect sales to rise in the next three months, also down from 61 percent a year ago.

Many business economists blamed President Trump's tariffs on steel, aluminum, and on most imports from China for worsening business conditions. Thirty-five percent said the duties have hurt their companies, while just 7 percent said they had a positive effect.

Of those who said tariffs had impacted their companies, 19 percent said they had lowered their sales and 30 percent said the duties pushed up costs.

The U.S. economy likely added 90 thousand new nonfarm jobs this month according to economists surveyed by Refinitiv, down 46 thousand from September’s tally of 136 thousand jobs. It would mark the slowest growth since the addition of 62 thousand payrolls in May, and would be well below the average monthly gain of 161 thousand this year.

Two-thirds of the economists surveyed now forecast that the economy will grow just 1.1 percent to 2 percent from the third quarter of 2019 through the third quarter of 2020.

A year ago, they were more bullish: Nearly three-quarters forecast growth of 2.1 percent to 3 percent from the third quarter of 2018 through the third quarter of 2019.

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The NABE surveyed 101 economists at companies and trade associations from Sept. 26 through Oct. 14.

The Associated Press contributed to this article.

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https://www.foxbusiness.com/markets/us-business-hiring-falls-to-a-7-year-low

2019-10-28 06:43:48Z
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