France's foreign minister has written an extraordinary letter that provides 'cover' for the French luxury goods group LVMH to pull out of an expensive deal to buy famous American jewellery firm Tiffany it no longer wanted to complete. That letter came after LVMH chief executive Bernard Arnault reportedly asked foreign minister Jean-Yves Le Drian for help. The affair is now likely to lead to a long and bitter legal battle, one that could even end up with the French state facing claims for compensation from disgruntled shareholders. Mediapart's Martine Orange argues in this op-ed article that no French government has ever gone out on such a limb to support a private company.
Mediapart is publishing a series of recordings of police phone taps involving the former head of France's domestic intelligence agency, Bernard Squarcini. These extraordinary tapes, which date from 2013, reveal the de facto existence of a state within a state, where private and public interests became intertwined. The first series of judicially-approved recordings reveal how after leaving his intelligence post Squarcini, nicknamed 'La Squale' ('The Shark'), was asked by the French luxury goods group LVMH to “infiltrate” an independent magazine in order to spy on it. Neither Squarcini nor LVMH wanted to comment on the content of the tapes. Fabrice Arfi and Pascale Pascariello report.
French companies LVMH and Kering, which own dozens of haute couture brands including Saint Laurent, Dior and Gucci, have signed a charter to ban overly thin models, both female and male, and those aged under-16, from their catwalks and advertising.
Runaway success Merci, Patron! is about unemployed couple from northern France who lose their jobs when the company opens new factories in Poland.
Bernard Arnault, boss of LVMH which owns brands such as Louis Vuitton, Fendi and Givenchy, hopes to acquire Le Parisien for €50m.
Critics say that new glass facade planned as part of the redevelopment of this art deco and nouveau Paris landmark will look like a shower curtain.
Probe relating to France's richest man Bernard Arnault concerns a capital increase of 2.9 billion euros in LVMH's Belgian holding company.
The two high-profile luxury brands come before French stock-market regulator in dispute over Bernard Arnault's stake in Hermès.
The head of luxury group LVMH said he always denied the move was for tax reasons but had abandoned plans to avoid 'any ambiguity'.
Belgian prosecutors have advised against giving citizenship to Bernard Arnault, chief executive of luxury group LVMH.
Baron Rothschild, owner of French daily Libération, defends crude headline attacking LVMH boss Bernard Arnault for seeking Belgian nationality.