Author: Anthony M. Orbison

By Mimosa Spencer PARIS (Reuters) – Confronting a broad decline in demand for their usual fare, including $3,000-and-up handbags and $4,000-and-up cashmere jackets, major marketers of designer and luxury merchandise are broadening their product lines to emphasize scarves, belts, wallets and home goods priced at $500 and under. The companies’ renewed focus on more affordable products is meant to appeal to middle-class aspirational customers who are more price sensitive, although the strategy may dent companies’ typically fat profit margins. After more than two years of sharp price hikes — with Chanel, Prada (OTC:) and LVMH’s Dior raising handbag prices by…

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have…

When Wirecard went belly up a few years ago, Deutsche Bank ended up with a loss of just €18mn — miraculously little for a bank that had up until then made a habit of ambling into nearly every major financial cow pie in the world. And this had been a giant pile of manure right on its own doorstep. Deutsche had previously underwritten Wirecard bonds, arranged loans for the company, and handed its chief executive a giant margin loan. Fellow German lender Commerzbank took a €175mn hit. How did Deutsche manage to avoid this doo-doo? FT Alphaville gathers that it…

Is Nvidia  (NVDA)  no longer the undisputed market leader among artificial intelligence (AI) stocks?💰💸 Don’t miss the move: SIGN UP for TheStreet’s FREE Daily newsletter 💰💸The prominent Magnificent 7 stock kicked off this trading week on a low note, showing signs that it had fallen into a slump. This prompted speculation that AI spending could either decline or shift toward Nvidia’s competitors. However, NVDA stock has since reversed course and is currently displaying momentum and is currently on an upward trajectory.Despite Nvidia’s recent declines, many Wall Street analysts remain highly bullish. But that doesn’t mean that experts aren’t starting to…

As a condition of a new IMF loan package, President Bukele of El Salvador has had to concede three aspects of the Bitcoin Law passed in 2021:A legal tender mandate requiring businesses to accept BitcoinShutting down Chivo, the state run wallet and on/off ramp serviceNo longer accepting tax payments in bitcoinUltimately everything except the last one is a positive change. Legal tender laws are ultimately coercive, and in my opinion shouldn’t exist. Chivo was a buggy mess, and alternatives exist such as Blink. The only negative (arguably), is the state no longer accepting bitcoin for tax payments. People are losing…

Scott Olson / Staff / Getty Images Major U.S. indexes rallied at midday Thursday, rebounding from Wednesday’s selloff as a report showed the U.S. economy expanded more than anticipated in the third quarter. Darden Restaurants shares surged after the company’s sales topped estimates, powered by LongHorn Steakhouse’s results. Home builder shares sank after Lennar said high mortgage rates are holding back sales. Major U.S. indexes rallied at midday Thursday, rebounding from Wednesday’s selloff as a report showed the U.S. economy expanded more than anticipated in the third quarter. The Dow, S&P 500, and Nasdaq all advanced. Darden Restaurants (DRI) was…

Investing.com– U.S. stock futures fell in Asian trade on Friday after a stop-gap spending bill backed by President-elect Donald Trump was voted down in Congress, raising the prospect of a government shutdown.   fell 0.4% to 5,912.50 points, while fell 0.5% to 21,263.0 points by 22:10 ET (02:10 GMT). fell 0.3% to 42,661.0 points. Futures extended losses after falling slightly in Thursday evening trade. The bill was assembled at the eleventh hour by policymakers to include Trump’s demands for higher government spending and a raised debt ceiling. But the spending bill was rejected in a 174-235 vote in the House of…

On Wednesday, December 19, 2024, Foundation announced the release of its newest device, the Passport Prime.Introducing Passport Prime – Your Personal Security Platform!We’re thrilled to present Passport Prime, the world’s first personal security platform designed to secure your Bitcoin and your entire digital life. Think: A Swiss Army Knife for your online security. pic.twitter.com/3HH2eG7vhU— FOUNDATION (@FOUNDATIONdvcs) December 18, 2024 The device offers a broad range of features that not only help users secure the keys to their bitcoin but other digital information, as well.FeaturesFor starters, the Passport Prime offers the same bitcoin wallet capabilities as the company’s second generation Passport…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldLeading central banks have warned that inflation is proving stickier than expected and that they will only cut borrowing costs gradually in 2025, in a shift that hit bond markets on both sides of the Atlantic.A day after Federal Reserve officials dialled back their rate-cutting expectations, the yield on US 10-year Treasuries, a bedrock of global finance, hit the highest since May at 4.59 per cent. The yield has jumped 0.2 percentage points in the past two days alone as…

The Federal Reserve cut interest rates by 0.25% again, bringing the federal funds rate range to between 4.25% and 4.5%. This is the third consecutive rate cut this year, but it may be the beginning of the end of rapid rate cuts.The Fed has signaled it will take a slower approach next year as Americans, markets and policymakers await the policies that will be implemented by the incoming Trump administration. How the inflation rate changes over the next few months will determine the Fed’s approach, but many are worried about what surging inflation would mean for the economy.🏦 🏡 Don’t…