Facebook to move to Hudson Yards, New York

The US tech company Facebook (FB) is increasing its presence in New York. The company has agreed to rent three towers totalling 139.000 m2 in the three developing buildings in the west side area of Manhattan, Hudson Yards. According to the information, the employees are moving already next year to the new offices.

The Hudson Yards has got several real-estate certifications for its sustainable buildings, materials and public transport. The area has already Leed Platinum for Hudson Years 10 and the Eastern Yards has got Leed- Neighborhood Development Gold (Leed ND).

The area is expected to gain more than 20 million visitors annually.  The area is having over 14 acres of public plazas, gardens and over 100 different shops and high-end retailers. The shops include for example luxury brands like Dior, Tiffany and Watches of Switzerland.

Facebook shares closed down 0,02 % to 193,15 dollars in New York on Thursday.

 

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Yandex Taxi to issue new shares in IPO – Reuters

Russia´s largest online taxi service Yandex Taxi is likely to sell new shares in its initial public offering. According to Reuters the company representative COO Greg Abovsky told that the company has not decided on a stock exchange, or the timing or the size of its IPO.

-We consider the Moscow Exchange an important exchange, he told Reuters and added that most likely there would be primary shares, not secondary in the IPO.

Yandex Taxi and Uber combined their resources in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakstan in 2017. Uber has 36,6 % of the shares, Yandex 59,3 % and Yandex Taxi staff the rest.

The US ride-hailing company Uber´s (UBER)  IPO was in May and the company listed its shares on Nyse in New York with the market value of 82 billion dollars. The rival company Lyft  (LYFT) listed its shares in Nasdaq already in April with the market value of 24,3 billion dollars.

Uber has also expanded its service offerings from taxi to flying taxi service in New York and customers can now ride from Manhattan to JF Kennedy and Newark airports with 199 dollars. The company has also announced it will start electric-flying taxi service in Australia, Melbourne next year, while the other piloting cities are Dallas and Los Angeles in the US.

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LVMH revenue growth + 16 % 12,5 billion euros Q1 2019

The world largest luxury group,the French LVMH Group (LVMH) published today its first quarter revenues. According to the company info, the total revenue was 12,5 billion euros, with 16 % growth from the year earlier. The company share was up 0,75 % to 329, 75 euros in Paris Stock Exchange. The S&P global luxury index was up 0,48 % to 3341,95 points today.

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Picture: Hublot´s and Ferrari´s co-operation in the BaselWorld 2019

One of the best increases was in the fashion & leather division, which showed a 20 % increase. According to LVMH, the luxury fashion brand Christian Dior performed exceptionally well during the period. In the wines division, the Hennessy cognat increased by 11 %. Perfumes showed an increase of 12 % and watches & jewellery 9 %.  Selective retailing increased by 13 %.

-The innovative products presented by LVMH’s watch brands at the Baselworld Watch & Jewelry Fair were very well received, including Hublot’s Classic Fusion Ferrari GT watch, Bvlgari’s Serpenti Seduttoriand Octo Finissimo Chronograph GMT Automatic watches, TAG Heuer’s connected watch model for golfers, and Zenith’s new Defy Inventor and Defy El Primero 21 Carbon models, the group said in the press release.

The Group has also opened a new brand flagship store in New York, in the ultra modern and high-design area in the Hudson Yards Development in Manhattan. From the online sales, the group said “the online sales grew strongly”.

The Group is arranging a confcall for analysts on Thursday for more information.

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