Tiwa Adebayo

The Israeli army has carried out an attack in the southern suburbs of Beirut.

It's the first strike in the vicinity of the Lebanese capital since the US-brokered ceasefire came into effect last month.

Prime Minister Benjamin Netanyahu says Israeli forces were targeting one of Hezbollah's senior military commanders.

Tehran has previously threatened to withdraw from the ceasefire if Israel keeps up its attacks in Lebanon.

China's new five-year plan is looking to build on industries where European companies have built their fortunes.

The world's second largest economy wants to modernise across the automotive sector, chemicals and machinery, as well as frontier technologies like robotics, biomedicine and nuclear fusion.

Bloomberg's Freddie Folston has more.

And the Bank of England is privately starting to doubt Britain's official growth statistics.

GDP data next week is likely to paint a rosy picture of the economy, but Bloomberg understands BOE officials think it's the UK's statistics agency that's overplaying the numbers.

James Wilcock has more.

That's news when you want it with Bloomberg News Now.

I'm 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.