LVMH’s luxury empire continues to grow
May 18, 2023
LVMH Moët Hennessy Louis Vuitton has been called “recession-proof” as the luxury giant acquires brands and retailers such as Tiffany & Co. with solid long-term prospects. “When he (LVMH CEO Bernard Arnault) talks about potential acquisitions, he’s not looking for the brand that’s hot right now. He’s looking for a brand that he thinks can be here 100 years from now,” said Anish Melwani, chairman and CEO of LVMH for North America.
Recent News
Massive Data Breach Hits Ticketmaster, Affecting 560 Million Customers
Ticketmaster has fallen victim to a significant cyber-attack, potentially compromising the data of up to 560 million customers. The breach was confirmed by Ticketmaster’s parent company, Live Nation, which revealed that a notorious hacking group, ShinyHunters, is behind the attack. The hackers are demanding a ransom of approximately £400,000 to prevent the data from being sold on the dark web.
Toyota Recalls 100,000+ Tundra and Lexus LX SUVs Over Engine Debris Issue
Toyota has announced a recall for over 100,000 Tundra pickups and Lexus LX SUVs in North America due to potential engine issues caused by machining debris. This recall affects certain 2022-2023 models of the Tundra and LX, which are equipped with the new V6 twin-turbo engine. The V6 twin-turbo engine has faced considerable scrutiny regarding its reliability, especially when compared to the previous naturally aspirated V8 engines.
Wordle and Worldle Battle Over Names
A legal dispute has erupted between the wildly popular word game Wordle and the lesser-known geography game Worldle, centering on the similarity of their names. Wordle, which was developed by Josh Wardle in 2021 and later acquired by the New York Times in 2022 for a substantial sum, has gained immense popularity. In this game, players have six attempts to guess a five-letter word.
FDA Issues Recall for Crecelac Goat Milk Infant Formula
The U.S. Food and Drug Administration (FDA) has issued a safety alert regarding Crecelac Goat Milk Infant Formula and other infant formula products imported and distributed by Dairy Manufacturers Inc. The alert highlights Cronobacter contamination concerns with Crecelac Infant Powdered Goat Milk Infant Formula. Although Dairy Manufacturers Inc. initiated a recall on May 24, 2024, due to non-compliance with FDA regulations, new findings of Cronobacter contamination have prompted further action.