Imperial Tobacco Group Plc, Europe’s second-biggest tobacco company, slumped the most since May 2009 in London trading after saying first-half profit will decline because of worsening conditions in countries such as Spain.
Ermenegildo Zegna SpA said Chinese demand for its luxury products rebounded in the fourth quarter, boosting 2012 sales growth and easing concern that the Asian nation’s leadership transition may continue to weigh on revenue.
LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, reported first- quarter sales that beat analysts’ estimates as demand for its products accelerated, defying an “uncertain” European economy.
When Usain Bolt steps into the starting blocks at the London Olympics, Francois-Henri Pinault will likely be watching with greater interest than most fans of the Jamaican sprinter called the fastest man on earth. As chief executive officer of PPR SA -- the French company that owns shoemaker Puma SE -- Pinault has a lot riding on Bolt, one of the few star athletes to wear the footwear brand.
British American Tobacco Plc, Europe’s largest cigarette maker, said it will step up a buyback program this year by repurchasing 1.25 billion pounds ($2 billion) of shares after profit rose 11 percent in 2011.