Health experts say there remains much unknown about the COVID-19 omicron variant. For now, doctors continue to say the best form of defense is getting vaccinated.
From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such "aspirational" purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry's growth in recent years, but also because high end consumers in the world's second-largest economy are a decade younger than the global average of 38. Young adults around the world have been "a very strong factor of luxury growth over the past decade," said Gregory Boutte, chief client and digital officer at Gucci-owner Kering.
425 million grams of unpackaged dried cannabis destroyed, highlighting industry's issue of producing more than it can sell
(Reuters) -Deere & Co on Friday revised its full-year profit outlook after missing Wall Street earnings expectations, as the world's largest farm equipment maker grappled with parts and semiconductor shortages stemming from supply chain constraints. "Our results reflected higher costs and production inefficiencies driven by the difficult supply-chain situation," said John May, chief executive of the company which also makes drivetrains and diesel engines. "The supply chain issues may simply be keeping Deere from producing, a trend we have seen all year," Michael Shlisky, managing director at DA Davidson, said in an emailed note.
The euro zone inflation outlook has failed to improve since a July rate hike, European Central Bank board member Isabel Schnabel said, suggesting she favours another large interest rate increase next month even as recession risks harden. The central bank for the 19-country bloc surprised investors with a 50-basis-point rate hike last month fearing that inflation, now approaching double digit territory, was at risk of getting entrenched. That move was not enough to alter the inflation outlook, however, and even a recession on its own would not be enough to tame price pressures, said Schnabel, the head of the ECB's market operations.
NEW YORK (AP) — Creem, which billed itself as “America's only rock ‘n’ roll magazine” during two decades of existence that ended in 1989, is being revived next month. The return is a remarkable story of persistence by J.J. Kramer, who was bequeathed the magazine at age 4 upon the death of his father, founder Barry Kramer. It will reappear during far different times, with a marketing plan that the late writer Lester Bangs or makers of the fake “Boy Howdy” beer could hardly conceive of. The first
(Reuters) -Kohl's Corp cut its full-year sales and profit forecasts on Thursday, squeezed by steeper discounts and higher costs amid dwindling demand for clothing and shoes in the face of high inflation, sending its shares down 5%. The U.S. department store chain joined top retailers including Target Corp and Best Buy Co to warn of a profit squeeze, as decades-high inflation has made Americans wary of opening their wallets for apparel and other discretionary goods. The demand slump has left several retailers with bloated inventories, forcing them to offload excess stocks through steep discounts and clearance sales heading into the back-to-school season.
U.S. stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong. Investors were still assessing Wednesday's minutes from the Federal Reserve's July meeting, which they initially saw as supporting a less aggressive stance by the central bank. "We're at a point where people are trying to make a judgment about whether the inevitable higher interest rates are going to choke off the upside of the market," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.
SANTIAGO (Reuters) -Chile's gross domestic product came in below expectations in the second quarter of 2022, central bank data showed on Thursday, leading economists to forecast a potential recession as pandemic-related stimulus is unwound. The performance highlighted Chile's struggle to grow as the central bank aggressively tightens its monetary policy to tame soaring inflation, which reached a near three-decade high last month. "Chile's economy merely stagnated in Q2 and the chances are high that it will fall into recession over the second half of the year," Capital Economics' Latin America economist Kimberley Sperrfechter said in a note.
Canadian cleantech company, CleanAir.ai, is pleased to announce that it has won the global CapitaLand Sustainability X Challenge (CSXC) 2022 "High Impact Award" for its novel ALVI CleanAir Safety System®.
Here’s one of the best TSX energy stocks investors can buy now and hold forever. The post 1 Top TSX Energy Stock to Buy and Hold Forever appeared first on The Motley Fool Canada.
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LONDON (AP) — Thousands of train workers in Britain staged a new round of strikes Thursday, paralyzing rail service across the country in an escalating dispute over pay and working conditions exacerbated by a deepening cost-of-living crisis. Only around one in five trains ran across the U.K. as a result of the walkout by union members, who have already staged multiple strikes in recent months. A strike planned for Friday is expected to affect most of the London Underground subway network as well
WASHINGTON (Reuters) -General Motors Co and LG Energy Solution are considering a site in Indiana for a fourth U.S. battery cell manufacturing plant, a spokeswoman for the companies' joint venture said on Thursday. Ultium Cells LLC "is developing a competitive business case for a potential large investment that could be located in New Carlisle, Indiana," she said, adding that Ultium had submitted a tax abatement application that it hopes will be approved later this month. Production at Ultium's first U.S battery cell plant in Warren, Ohio is set to begin later this month.
TULUM, Mexico (AP) — Unchecked development has hit this once laid back beach town on Mexico’s Caribbean coast so hard that developers are now eager — even desperate — to build condominiums and hotels in a shantytown. While police are trying to evict squatters so towering condos can be built next to wood and tarpaper shacks, residents are fighting back, saying they are tired of foreign investors excluding local people from their own coast. In the latest clash on July 27, police accompanying a bac
Passive-income stocks like BCE (TSX:BCE)(NYSE:BCE) should be on your radar. The post 3 Canadian Dividend Aristocrats to Buy for Passive Income Forever appeared first on The Motley Fool Canada.
(Reuters) -A state of Michigan lawsuit that aims to force Enbridge Inc to stop operating the Line 5 oil pipeline underneath the Straits of Mackinac in the Great Lakes will be heard in federal court, a judge ruled on Thursday. The decision from Judge Janet Neff is a win for Calgary-based Enbridge. The Canadian pipeline company has been locked long-running dispute with Michigan over Line 5, which ships 540,000 barrels per day of crude and refined products from Superior, Wisconsin, to Sarnia, Ontario.
It’s possible that you may qualify for a minimal amount from the Guaranteed Income Supplement
Pioneered by Wheaton, the streaming model is a type of alternative financing in the mining industry in which funds are provided upfront to a miner in exchange for the sale of a fixed amount of future production, usually by-product, at a discounted price. Glencore had entered the Yauliyacu silver streaming transaction with Wheaton in 2006 for an upfront payment of $285 million.
In comments to a Kansas City economic group, George said the pace and ultimate level of future rate hikes remained a matter of debate. "To know where that stopping point is ... we are going to have to be completely convinced that (inflation) number is coming down," she said. George did not state a preference for whether the Fed should approve a third straight 75 basis point rate increase when policymakers meet next month, or a smaller half point increase - the two core options under consideration.
BELGRADE, Serbia (AP) — Wartime rivals Serbia and Kosovo are holding high-level crisis talks on Thursday which European Union mediators hope will de-escalate growing tensions in the Balkans, where Russia has tried to further increase its influence amid the war in Ukraine. Hopes that the rare face-to-face meeting between Serbian President Aleksandar Vucic and Kosovo Prime Minister Albin Kurti, to be held in Brussels, could produce a major breakthrough are slim. But Western officials overseeing th
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