He’s someone Trump really looks up to and wants to make happy,” a source said of LVMH CEO Bernard Arnault, the wealthiest man in France.

LVMH, which is controlled by the family of multibillionaire Bernard Arnault, was a major sponsor of the Summer Games in Paris.

Good news about an experimental weight-loss shot sent shares in Ozempic maker Novo Nordisk soaring, making it once again Europe's most-valuable listed company. A pullback in the Danish drug maker's shares had meant it recently ceded that title to French luxury conglomerate LVMH.

Novo Nordisk has faced a massive selloff in recent months amid disappointing drug trials and U.S. pressure to cut its prices.

The medals were designed by a jewelry maker owned by the French luxury conglomerate, which has declined to comment on their deterioration.

The rest of the top ten largest companies in Europe by market cap include ASML ( ASML ), SAP SE ( SAP ), Hermès International ( OTCPK:HESAY ), Roche Holding AG ( OTCQX:RHHBY ), Accenture plc ( ACN ), Nestlé S.A ( OTCPK:NSRGY ), AstraZeneca PLC ( AZN ), and Novartis AG ( NVS ).

At LVMH Watch Week, Daniel Roth debuted its latest timepiece, the Extra Plat Souscription. Inspired by its Tourbillon Souscription watch, Daniel Roth has reinterpreted the design in a new laidback way – but as a limited edition novelty, you might not be able to get one.

Bvlgari launches the Lady Solotempo BVS100 automatic movement at LVMH Watch Week, taking the Serpenti automatic watches into the next phase.

LVMH Moët Hennessy Louis Vuitton CEO Bernard Arnault added around $22.9 billion to his net worth in this year's Bloomberg Billionaires Index.

Diageo, the leading spirits producer, is exploring the sale or spin-off of Guinness, despite its strong performance and rising sales. This potential move has sparked share price increases and discussions among analysts.

Diageo, the world's top spirits maker, is exploring a potential spin-off or sale of beer brand Guinness and is reviewing its stake in LVMH's drinks unit, Moet Hennessy, Bloomberg News reported on Friday,