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Today’s top stories
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Kamala Harris is betting on a surge of Democratic enthusiasm to propel her to the US presidency. Pennsylvania’s Josh Shapiro, Arizona senator Mark Kelly and Roy Cooper of North Carolina are the frontrunners to become her running mate.
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The Eurozone economy has slowed sharply due to weaker than forecast growth in services and steep falls in manufacturing, according to the latest S&P Global PMI survey.
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The US warned tech start-ups that foreign adversaries, including China, were using investments to acquire sensitive data and threaten national security.
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Good evening.
Global luxury stocks took a dive today after industry bellwether LVMH reported slower than expected sales, increasing investors’ concerns about a sector slowdown amid waning demand from China.
LVMH, owner of Louis Vuitton, Dior and Tiffany, is closely watched by analysts because of its size and the fact that its more than 75 companies span luxury segments from watches and bags to travel. The disappointing second-quarter update, including a 14 per cent drop in sales in Asia, dragged down shares from Hermès, Brunello Cucinelli, Prada, Kering and Richemont, owner of jeweller Cartier.