Wednesday newspaper round-up: IMF, champagne, Boeing, Plus500, Trump Media
17th Apr 2024 07:10
(Sharecast News) - Rising energy prices and disruption to international shipping risk "stalling" declines in inflation in leading economies, the International Monetary Fund has warned, telling central banks that the "last mile" of their battle against price rises may be the hardest. In its latest assessment of global financial stability, the IMF said markets were vulnerable to another round of volatility if investors continued to push back their expectations for interest rate cuts this year, leading to falls in bond and stock prices. - The Times
The owner of Moët & Chandon, Krug and Veuve Clicquot has been left with a post-pandemic hangover after a sharp drop in champagne sales. French luxury goods giant LVMH suffered a 16pc slump in wine and spirit sales to €1.4bn (£1.2bn) during the first quarter of 2024. The company, which also owns Dom Pérignon, on Tuesday said this was driven by "the normalisation of post-Covid demand". It follows years of record demand for champagne during and immediately after the pandemic. - Telegraph
A whistleblower has urged Boeing to ground every 787 Dreamliner jet worldwide after warning they are at risk of premature failure ahead of a high-profile hearing on Capitol Hill. The planemaker has been grappling with its latest crisis since a cabin panel blowout in January raised fresh questions about the production of its bestselling commercial jet, the 737 Max. - Guardian
A leading seller of contracts-for-difference made about £25 million betting against its own customers during the first three months of the year. Plus500 said that client losses had given it a $30.6 million boost in the first quarter, helping to push adjusted profits at the group in the period up by 2 per cent year-on-year to $102.6 million. Revenue rose 4 percent to $215.6 million. The London-listed, Israel-based Plus500 operates a popular online platform that enables punters to trade contracts-for-difference, which are derivatives that are used to place leveraged bets on the direction of prices in financial markets. - The Times
Donald Trump's social media empire has announced plans to launch a streaming platform. Its shares continued to fall. Trump Media & Technology Group, owner of Truth Social, has come under pressure since its stunning stock market debut last month left the former president with a vast stake worth about $4.9bn on paper. - Guardian