Russ Mould

Yes, your plutocrats keep on spending because they're plutocrats.

But a lot of your growth comes from the aspirational buyer who has to feel well, has to feel well off, maybe has to stretch a little bit, put a few euros on the credit card.

And one of the businesses that can struggle there is Beauty.

And Kering, having looked to build a business there, now seems to be deciding he wants to get rid of it as part of a wider restructuring.

They're looking for a sale of the business to L'Oreal for some €4 billion as part of Mr. DiMeo's turnaround programme.

And Kering shares, having been disasters for several years, have ripped higher recently.

And again, perhaps in anticipation of

a change in corporate structure and this big sale.

So now it'll be lower debt seen as a good thing for caring.

L'Oreal gets its hands on more brands for which it can start to design more perfumes, face creams and all those things that Joe, I'm sure, uses very frequently early in the morning.

Breakfast Business with Enterprise Ireland on Newstalk.

Good day, TJ.

Hope you had a lovely weekend.

Well, there was all sorts going on on Friday.

So the president said that he would maybe put another 100% of tariffs on top of the existing ones on Chinese goods.

That prompted markets to have a paddy because they'd been assuming that there would be a meeting between President Xi and President Trump this month in Korea to settle the Chinese-China trade dispute.

So that frightened everybody.

You've still got ongoing worries about debt in the background because of a couple of Americans.

corporate bankruptcies and as you say there was this remarkable route in cryptocurrencies when some of the second tier cryptos effectively went to almost zero and some of the big names collapsed and a lot of investors or traders who've been using borrowed money to speculate gear up their returns on crypto if you look through social media over the weekend

A lot of them got cleared out.