French luxury conglomerate LVMH is denying reports that it is responsible for deteriorating and rusting Olympic medals that were handed out to athletes during the Summer Games in Paris last year.

A strong quarter from Richemont lifted luxury stocks, including LVMH. LVMH and Richemont have both struggled in China. The report bodes well for LVMH's upcoming results. As of 1:07 p.m. ET ...

Bernard Arnault, the CEO of LVMH (MC) who holds the fourth-place spot ... behind Bezos, Oracle (ORCL) founder Larry Ellison, who shot to the second-place spot in that ranking with a net worth ...

As of 1:07 p.m. ET, LVMH stock was up 9.8%, compared to Richemont's 15.4%. Richemont reported a 10% increase in third-quarter sales to 6.2 billion euros ($6.4 billion), and it saw double-digit ...