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NEW YORK/MILAN/PARIS: LVMH, the world's biggest luxury group, has called off its US$16-billion engagement to Tiffany. Wall Street however seems to think the U.S. jeweler will fare just fine by itself. The jilted bride thinks so, too. On Wednesday, after news that LVMH would not proceed with its takeover deal, Tiffany Chief Executive Alessandro Bogliolo held a call with employees, saying the executives are in wait-and-see mode. He told employees that Tiffany executives hadn't solicited LVMH's takeover. If the deal collapses, he said, Tiffany will be fine as it is. Tiffany declined to comment. Tiffany's shares ended trading Thursday at US$114.36. Before news of the deal - in which LVMH offered US$135 per share to Tiffany’s investors - came out in October, Tiffany shares were at US$98.55. That means that investors value Tiffany 16per cent higher despite both COVID-19's blow to sales and the prospect of no LVMH deal. "It certainly seemed as if this deal was a strength in numbers … [Read more...] about Analysis: Life without LVMH? How Tiffany might fare without the luxury giant

JAKARTA: Despite so-called “large-scale social restrictions” being imposed in Jakarta, streets in the Indonesian capital appeared to be fairly crowded on Monday (Apr 13), with those working in essential services thronging the thoroughfares. The city implemented the restrictions last Friday as the number of COVID-19 cases continued to rise across the country. But as it was the Good Friday and Easter holiday weekend, the city was virtually desolate. On Monday, when people working in essential services returned to work, things were very different. Under the restrictions, offices and businesses were closed or needed to have their employees work from home. However, government offices, construction sites, banks, hospitals, markets and restaurants and other essential services are still allowed to operate, including the media. A commuter, Ari Wibisono, shared his journey to work on his instagram account on Monday, showing that some streets in the city centre were busy as usual. … [Read more...] about COVID-19: Crowds, minor infractions on first working day after social restrictions imposed in Jakarta