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Loro Piana CEO Frédéric Arnault on navigating the Italian luxury brand’s complexities
Frédéric Arnault grew up surrounded by luxury executives and creative directors, and has been exposed to the inner workings of the world’s top luxury brands from a very young age. He is the son of Bernard Arnault, chairman and CEO of LVMH, the world’s largest luxury group and the company behind brands such as Louis Vuitton, Dior, Bulgari and Fendi. The young Arnault spent most of his adult life working at LVMH’s watchmaking division, first as CEO of Tag Heuer and later as CEO of LVMH...
Fed's Kashkari says inflation is 'still too high' even after softer-than-expected PCE data, labor market is 'pretty good'
Kashkari sat down with CNBC's Steve Liesman for an exclusive conversation Wednesday night.
Bessent Settled Tax Issue That Had Put Him at Odds With I.R.S.
The Treasury Secretary had previously taken a position on his taxes that contradicted the views of the tax agency that he now oversees.
5 new Hong Kong cafes and coffee shops to try in October 2026, plus must-visit events
Every month in Hong Kong brings a fresh line-up of cafes and coffee shops, but this October will see brew nerds even more caffeinated than ever. International Coffee Day kicks things off on October 1, a day that also sees two new coffee festivals begin: one held across multiple districts over three consecutive weekends, and one focusing on Japan-based roasters and cafes. The weeks after are filled with opportunities to try new beans and blends from new coffee shops, while drinkers can also look...
The AI telling farmers when to harvest
Will farmers want AI tools to help judge when to pick fruit, or is their own intuition enough?
Vape tax comes into effect - but prices won't rise yet
Vaping is about to becoming more expensive due to a new tax on products.
Mattel Chief Named Co-C.E.O. of Combined Paramount and Warner Bros.
Ynon Kreiz, who will work alongside David Ellison at the merged company, helped turn Barbie into a blockbuster movie.
US strongly revises up Q2 GDP growth, inflation stable
The US Commerce Department on Wednesday revised upwards its estimate for second-quarter GDP growth in the world's largest economy, moving it up by 0.7 percentage points to 2.2 percent. "The contributors to the increase in real GDP in the second quarter were consumer spending, investment, and exports. Imports, which are a subtraction in the calculation of GDP, increased," the Bureau of Economic Analysis (BEA) said in a statement. The new data will come as a boost to US President Donald Trump as his Republican Party heads into key midterm elections in November, with the state of the economy a key issue for voters. In terms of specific industries, the leading contributors to the increase were real estate, information, durable goods manufacturing, and finance and insurance, the BEA said. Decreases came from the transportation and retail trade, as well as from non-durable goods manufacturing. The BEA also revised upwards its estimate of GDP growth in the first quarter of this year by 0.4 percentage points to 2.5 percent. That change was primarily driven by upward revisions to consumer spending and services exports, the department said. In a separate release, the BEA said the US Federal Reserve's preferred inflation gauge stood at 3.4 percent year-on-year in August, unchanged from the month before after a revision to the July data. US households and businesses have been battered by years of high prices since the pandemic, with the Fed missing its long-term two-percent target for inflation since early 2021. Earlier this month, the Fed raised interest rates for the first time in three years to combat inflation. Wednesday's data was for the Personal Consumption Expenditures (PCE) price index, the Fed's targeted gauge. US inflation has been stoked by some of Trump's policies, including his imposition of widespread tariffs. His launching of the Iran war has sent global energy prices sky-rocketing, with US consumers paying an average of 50 percent more at the pump. Core PCE inflation, which strips out volatile energy and food prices, came in at 3.0 percent year-over-year. Markets are closely watching inflation data to gauge the Fed's next move. On Tuesday, an influential US central banker said there was no "urgency" to raise rates again, even as he indicated one more rate hike could be needed before the end of the year. (AFP) Edited by Robert Kemp
While Surging to Records, Stocks Experience Some ‘Wobbles’
Beneath the S&P 500’s 2 percent gain in the third quarter, the rise in oil prices and bond yields led some investors to become more cautious about the outlook for A.I. profits.
See how Brazil's ethanol industry is now tied to cattle
For decades, Brazil has been a major ethanol producer, traditionally using sugarcane. More recently, production of ethanol derived from corn has been on the rise and one protein-rich byproduct used for animal feed is in high demand and being exported to several countries worldwide, including China.