Cartier Jewelry Owner's Revenue Increases in the Last Year

Luxury jewelry owner Richemont reported a 4% increase in sales for the third quarter of fiscal year 2023, reaching €5.59 billion. Although sales declined by 4% in Europe, other world markets experienced an increase. If the exchange rate difference is eliminated, overall sales still grew by 8%. The luxury goods sector has been affected by inflation and the trend of rising interest rates in the United States, which has weakened consumer shopping habits. China's post-Covid-19 conditions and weakening consumer purchasing power also impacted sales. Despite these challenges, Richemont's sales exceeded forecasts from Barclays and RBC.

https://internasional.kontan.co.id/news/pendapatan-pemilik-perhiasan-cartier-meningkat-di-tahun-lalu

In dispute, Berkshire Hathaway buys 20% of Haslam family's pilot shares

Berkshire Hathaway, owned by Warren Buffett, has purchased a 20% stake in the Pilot truck stop business from the Haslam family, settling a lawsuit over the purchase price. The terms of the transaction were not disclosed. In 2017, Berkshire acquired a 38.6% stake in Pilot for $2.76 billion, and in January 2020, it bought an additional 41.4% stake for $8.2 billion. The Haslam family has a 60-day window each year to sell the remaining 20% of Pilot shares, with the price based on the company's profits. The lawsuit, which took place in the Delaware Court of Chancery, involved accusations of accounting manipulation from both parties. The case was dismissed after the settlement. Pilot operates around 800 locations in the United States.

https://internasional.kontan.co.id/news/sempat-bersengketa-berkshire-hathaway-beli-20-saham-pilot-milik-keluarga-haslam-1

Los Angeles Times to lay off a large number of journalists

The Los Angeles Times is planning to lay off a significant number of journalists, affecting approximately 20% of the newsroom or at least 100 journalists. In response to this plan, the newspaper's Labor Union has announced a one-day strike, seeking negotiations with management regarding the number of layoffs and potential cost savings. The exact number of layoffs is currently unknown as management has not provided this information. The union expresses frustration with management's lack of transparency and will be participating in the strike out of protest. The Los Angeles Times has expressed disappointment in the union's decision but acknowledges their right to strike. This news comes shortly after the resignation of the paper's executive editor, Kevin Merida, who had been in the position for over two years.

https://internasional.kontan.co.id/news/los-angeles-times-akan-phk-sejumlah-besar-jurnalisnya