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Prarthana Prakash

Prarthana Prakash

Fortune

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Taylor Swift’s Eras Tour could boost Europe’s economy more than America’s, experts predict

Europe has better public transport and benefits from the concerts happening over the summer—and Swifties are ready to buy into it.

19.05.2024 40

Fortune

Prarthana Prakash

A deepfake ‘CFO’ tricked the British design firm behind the Sydney Opera House in $25 million fraud

“Our financial stability and business operations were not affected," an Arup spokesperson said.

17.05.2024 20

Fortune

Prarthana Prakash

London Stock Exchange CEO says listing exodus not a big concern as the U.K. is ‘punching above its weight’—but a 25% drop in listings over 10 years suggests otherwise

Companies have dropped their London listings just as the pool of applicants looking to float on the LSE dwindles, hitting a six-year low in 2023.

16.05.2024 50

Fortune

Prarthana Prakash

The running market is hot—and it's driving sales of Roger Federer-backed On shoes

Since its inception in 2010, the Swiss-based On has become a superstar in the crowded sports shoe industry.

15.05.2024 70

Fortune

Prarthana Prakash

Higher air ticket prices aren't dampening travel demand as TUI narrows losses ahead of shifting its listing from London to Frankfurt

People's travel appetite is higher than before—and that's driving TUI's business in Europe and beyond.

15.05.2024 40

Fortune

Prarthana Prakash

Anglo American hopes selling De Beers will fend off takeover bids after BHP’s $43 billion offer—but it might do the opposite

Anglo American is getting "rid of a lot of the fat that someone like BHP wouldn't want," making it more appealing, one analyst said.

14.05.2024 80

Fortune

Prarthana Prakash

Lufthansa CEO calls Boeing's aircraft delays 'extremely annoying' following its recent safety crisis—but he’s banking on things getting better

Lufthansa's Carsten Spohr is the latest aviation industry chief to publicly lament how Boeing’s safety crisis is impacting their business.

13.05.2024 40

Fortune

Prarthana Prakash

France bags $16 billion investment boost from Microsoft, Pfizer and others as President Emmanuel Macron lures new business

France usually receives among the highest inward FDI in Europe, but even so $16 billion is a lot to announce on one day.

13.05.2024 60

Fortune

Prarthana Prakash

London’s Canary Wharf shows the future of work is about more than just the office

Londoners might have divided opinions on Canary Wharf, but it's evolved through the ages—and will likely continue to.

13.05.2024 30

Fortune

Prarthana Prakash

British used car startup Cazoo was once worth $7 billion. It’s since lost nearly 100% of its value and is flirting with bankruptcy—what went wrong?

The used car unicorn's journey from being a celebrated British startup to one nearing bankruptcy has a lot to do with timing.

10.05.2024 30

Fortune

Prarthana Prakash

Italy is sending soldiers to stop wild boars menacing its $8.8 billion prosciutto and sausage industry

Italy's agriculture minister said it was important that a health problem doesn't morph into "an economic and social" one.

09.05.2024 30

Fortune

Prarthana Prakash

Norwegian wealth fund CEO converts a century-old grain silo into a $46 million art display to promote tourism in his hometown

Once home to 15,000 tons of grain, Norges Bank CEO Nicolai Tangen's Kunstsilo is now a gallery of more than 5,000 artworks.

09.05.2024 40

Fortune

Prarthana Prakash

Heir to Prada’s billionaire owning family signals openness to acquisitions as luxury dynasties look to the future

“We have been and will always be open to considering opportunities,” Lorenzo Bertelli, heir of the billionaire Prada family, said.

08.05.2024 90

Fortune

Prarthana Prakash

Is money the secret to getting Gen Z talking? The U.K.’s national data crunchers reveal their latest tricks for finding out what makes them tick

The Office of National Statistics is revamping how to gets data on Gen Z participants, including higher cash prizes and face-to-face interviews.

08.05.2024 20

Fortune

Prarthana Prakash

British Microsoft-backed self-driving startup Wayve raises $1 billion, clocking new high in Europe-based AI funding deal

Wayve's latest funding round surpasses those of Europe's prominent generative AI startups like Mistral and Alepha Alpha.

07.05.2024 40

Fortune

Prarthana Prakash

Europe’s largest local authority went bankrupt over equal pay claims worth up to $1 billion—turns out, it may not bleed too much money on it after all

Financial difficulties for the Birmingham City Council, which represents over 1 million people, have been mounting—but it's not the only one in the...

03.05.2024 100

Fortune

Prarthana Prakash

Puig is poised for a $15 billion IPO, but CEO Marc Puig has a ‘self-disempowerment’ plan to stop his family from controlling the Spanish beauty empire

CEO Marc Puig thinks setting "difficult filters" even for family members is the best way to practice "meritocracy."

02.05.2024 30

Fortune

Prarthana Prakash

Europe's sliding foreign investments are a 'wake-up call,’ EY expert says

“We need to make sure regulation doesn’t get in the way of innovation and enabling businesses in Europe to compete,” an expert told Fortune.  

02.05.2024 30

Fortune

Prarthana Prakash

Meet the Norwegian-owned cruise challenger to Carnival and Royal Caribbean that just raised $1.54 billion

Viking's cruises aren't just boozy party boats. They specifically cater to older, affluent guests.

01.05.2024 40

Fortune

Prarthana Prakash

The CEO of one of Sweden's biggest companies thinks regulation is decimating Europe's competitiveness and will leave 'no industry left'

Europe is “on the way to becoming a museum," said Ericsson's CEO Börje Ekholm.

30.04.2024 70

Fortune

Prarthana Prakash

Exclusive: Ikea is rolling out its third round of price cuts in a year across thousands of products as it tackles shoppers’ inflation pain

Shoppers have poured into Ikea stores in droves since its initial price cuts, so the Swedish giant plans to keep the momentum going.

30.04.2024 40

Fortune

Prarthana Prakash

LVMH's new path to people's hearts (and pockets) is through sprawling real estate empires in New York, Paris and Miami

“All roads lead to real estate,” Michael Burke, the head of LVMH Fashion Group, told The Wall Street Journal.

29.04.2024 50

Fortune

Prarthana Prakash

Ryanair's Michael O'Leary, who is up for a $108 million bonus, doesn’t see high CEO pay as a problem: 'Footballers are getting half a million a week'

Michael O'Leary says that if football players and their managers can get paid in the multi-millions, why not him?

29.04.2024 20

Fortune

Prarthana Prakash

The number of U.K.-listed companies issuing profit warnings is higher than during the Global Financial Crisis, new report finds

“Macro-economic pressures, while less intense, have not relented in 2024," a partner at EY-Parthenon said.

29.04.2024 10

Fortune

Prarthana Prakash

In the latest blow for the London Stock Exchange, U.S. private equity firm Thoma Bravo snaps up British cybersecurity star Darktrace for $5 billion

Darktrace’s board said that its success is not reflected in its current valuations as its shares are trading lower than those of its peers.

26.04.2024 10

Fortune

Prarthana Prakash

Aviation results: European carriers EasyJet and Jet2 fly to new heights, while Airbus prepares to overtake Boeing as headwinds continue

It's been an eventful few days for aviation players—from Airbus to Heathrow. Here's how they fared.

26.04.2024 30

Fortune

Prarthana Prakash

Unilever and LVMH have one common bright spot—people love spending on beauty, and it’s outshining their other products

Beauty has been an important driver in Unilever and LVMH's recent earnings—is it just the lipstick effect or more?

25.04.2024 20

Fortune

Prarthana Prakash

Chocolate prices have exploded—as has the wealth of Mars and Ferrero family empires, outsizing two of the world's top cocoa-producing countries

The collective wealth of the Ferrero and Mars families beats the summed-up GDPs of Ghana and Ivory Coast, Oxfam's report said.

24.04.2024 20

Fortune

Prarthana Prakash

Tesla may have found itself a lifejacket—but its rocky ride following job and price cuts across Europe isn’t over yet

“If somebody doesn’t believe Tesla’s is going solve autonomy, I think they should not be an investor in the company,” Tesla CEO Elon Musk said...

24.04.2024 30

Fortune

Prarthana Prakash

London is the world's top talent magnet, eclipsing Amsterdam and New York. Yet it’s this country that beckons most

“London’s position as the most desirable city, a position it has retained for many years, is both a promise and a challenge,” a BCG expert said.

24.04.2024 10

Fortune

Prarthana Prakash

EU warns it’ll suspend TikTok’s new Lite app for its 'toxic and addictive' watch-for-rewards feature that allegedly endangers kids

“We suspect TikTok ‘Lite’ could be as toxic and addictive as cigarettes ‘light’,” EU commissioner Thierry Breton said.

23.04.2024 10

Fortune

Prarthana Prakash

Ferrari’s CEO has nearly doubled its share price since 2021—he credits smaller teams and cutting the company’s ‘bureaucratic mass index’

“When you change the culture of a company, it’s never a revolution. It’s an evolution,” CEO Benedetto Vigna said.

22.04.2024 10

Fortune

Prarthana Prakash

AI is shaking up how sports like rugby, soccer and cricket are played—and it could soon mint big money for sports clubs

“For the most ambitious and innovative teams, there is an exciting opportunity now," one expert told Fortune.

20.04.2024 20

Fortune

Prarthana Prakash

90-year-old designer Giorgio Armani has kept his legacy alive—and independent. Now, he's open to adapting: 'I don’t feel I can rule anything out'

The iconic fashion mogul said he doesn't see a takeover or IPO in the cards anytime soon, but can't "rule anything out."

19.04.2024 30

Fortune

Prarthana Prakash

Secondhand watch prices have tanked—but luxury watches weren’t meant to be investments anyway, Rolex CEO says

“I don’t like it when people compare watches with stocks. This sends the wrong message and is dangerous,” Rolex’s Jean-Frédéric Dufour said.

18.04.2024 10

Fortune

Prarthana Prakash

Beware, Swifties. A major British bank just issued a warning after fans lost an estimated $1 million in Taylor Swift concert ticket scams

“Cruel fraudsters have wasted no time in targeting her most loyal fans as they rush to pick up tickets for her must-see concerts,” Lloyds Bank...

17.04.2024 10

Fortune

Prarthana Prakash

People aren’t thirsty for champagne and luxury bags—and that’s jeopardizing LVMH’s sales growth among high-end shoppers

Some segments at LVMH, like Wine and Spirits, grew slower than others. But context about the luxury spending figures—and what it's compared to—is...

17.04.2024 30

Fortune

Prarthana Prakash

CVC Capital, the private equity giant behind Six Nations and LaLiga, plans to launch $1.3 billion IPO in Amsterdam after past delays

The firm, cofounded by four finance professionals as an arm within Citigroup over 40 years ago, has soared to become Europe’s top private equity...

16.04.2024 70

Fortune

Prarthana Prakash

Beloved British retailer Superdry plans to quit the London Stock Exchange after mounting losses to overhaul the company and save it from going bust

Superdry's woes have kept mounting—big losses, a slew of CFO departures and a rapid decline in share price, which is down 82% year to date.

16.04.2024 20

Fortune

Prarthana Prakash

Lego is about more than just kids' toys—its adult collectors are proving lucrative for the Danish company's $9.7 billion sales

In 2020, Lego launched its adult-focussed category. Adults also introduce kids to Lego, making them a critical group to the Danish toymaker's growth.

15.04.2024 30

Fortune

Prarthana Prakash

Europe is falling behind in generative AI, with the U.S. light years ahead. But the race is just getting started

Companies in Europe have received far lesser funding—by 10-fold—compared to their rivals across the Atlantic.

15.04.2024 40

Fortune

Prarthana Prakash

The steep pay gap between the U.S. and U.K. is real—just look at how much ExxonMobil and Chevron chiefs make compared to those at Shell and BP

The CEOs of ExxonMobil and Chevron made between three to four times more than their counterparts at Shell and BP.

12.04.2024 9

Fortune

Prarthana Prakash

The CEO of Norway’s $1.6 trillion sovereign wealth fund has a fun side gig—he hosts a podcast with the world's top C-suite execs like Elon Musk, Michael O’Leary and Ana Botín

Nicolai Tangen's podcast isn't like any other—the guestlist includes major C-suite execs of companies that the $1.6 trillion sovereign fund invests...

11.04.2024 10

Fortune

Prarthana Prakash

Europe's antitrust watchdog probes China undercutting its $4 billion wind turbine market, saying 'we saw the playbook' with solar power

The bloc's anti-trust chief Margrethe Vestager said the EU "can’t afford to see what happened on solar panels happening again.”

10.04.2024 10

Fortune

Prarthana Prakash

French IT firm Atos was once a crown jewel valued at $15 billion. Now, it's drowning in debt and the government is helping it stay afloat

It’s been a sharp fall from grace for the French crown jewel Atos as its valuation is down nearly 98% since 2017. 

10.04.2024 10

Fortune

Prarthana Prakash

U.K. employees now have the right to request flexible work from day 1—but employers may have to bear the brunt of the new measures

“Where properly managed, the benefits to employers are significant," one legal expert told Fortune.

10.04.2024 20

Fortune

Prarthana Prakash

Shell could abandon London for a New York listing as it considers 'all options'—and, if it does, the FTSE 100 could lose its biggest player

Shell CEO Wael Sawan has made comments since last year about revisiting its home listing in 2025, if it's the only way to prop up valuations.

09.04.2024 10

Fortune

Prarthana Prakash

As Germany faces the rise of right-wing AfD party advocating for 'Dexit', Chancellor Olaf Scholz cautions against EU enlargement without reform

“A EU with 32 or 35 members cannot work with the rules crafted for a smaller union,” Scholz said.

08.04.2024 20

Fortune

Prarthana Prakash

Airbus and Boeing clearly dominate the commercial aircrafts—but the future could look different if China's COMAC emerges a dark horse 

Boeing's woes have drawn attention to the opportunities for contenders like COMAC. But it won't be easy to break what Airbus and Boeing have built.

08.04.2024 30

Fortune

Prarthana Prakash

A German law protecting Sundays for workers is even forcing robotic supermarkets to close—but experts aren’t sure that’s sustainable

The potential for tech to allow for establishments to be open on Sundays without human labor "should be exploited," one expert told Fortune.

05.04.2024 10

Fortune

Prarthana Prakash

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