Tiwa Adebayo

Many had hoped the luxury industry would be poised to emerge from an extended slump this year, but those hopes withered with the start of war in the Middle East, reducing demand in key markets.

For consumer giant LVMH, the war has brought with it a 2% drop in revenue for its fashion and leather goods unit over the first quarter, a decline worse than analysts had expected.

And overall, group organic sales rose just 1%, trailing estimates.

The drop comes after a very positive start to the year, according to the firm, who are predicting increased volatility in the months to come.

In London, Tiwa Adebayo, Bloomberg Radio.

Many had hoped the luxury industry would be poised to emerge from an extended slump this year, but those hopes withered with the start of war in the Middle East, reducing demand in key markets.

For consumer giant LVMH, the war has brought with it a 2% drop in revenue for its fashion and leather goods unit over the first quarter, a decline worse than analysts had expected.

And overall, group organic sales rose just 1%, trailing estimates.

The drop comes after a very positive start to the year, according to the firm, who are predicting increased volatility in the months to come.

In London, Tiwa Adebayo, Bloomberg Radio.

About a fifth of the world's liquefied natural gas, mainly from Qatar, goes through the Strait of Hormuz.

And according to Goldman Sachs, just a month-long halt to transit through the waterway could see European prices and spot Asian liquefied natural gas surge 130%.

However, the impact on US natural gas would likely be limited, according to the bank, given the country's position as a large net exporter of the super-chilled fuel.

According to Bloomberg Intelligence, disruption to Qatari liquefied natural gas cargos via a Hormuz halt or direct impacts to production and export infrastructure in the country could erode about 20% of the global supply.

In London, Tiwa Adebayo, Bloomberg Radio.

And this war will bring about true peace.

About a fifth of the world's liquefied natural gas, mainly from Qatar, goes through the Strait of Hormuz.

And according to Goldman Sachs, just a month-long halt to transit through the waterway could see European prices and spot Asian liquefied natural gas surge 130%.

However, the impact on US natural gas would likely be limited, according to the bank, given the country's position as a large net exporter of the super-chilled fuel.

According to Bloomberg Intelligence, disruption to Qatari liquefied natural gas cargos via a Hormuz halt or direct impacts to production and export infrastructure in the country could erode about 20% of the global supply.