The diversification to attract new customers comes as the luxury sector grapples with an industry-wide slowdown, U.S. tariffs, and wider cost pressures.
France’s economy faces a key risk beyond its political turmoil
The “Big Three” ratings agencies will update their verdicts on the country’s creditworthiness starting Friday, amid huge political and economic uncertainty.
Larry Ellison adds $100B to his net worth in 24 hours, biggest one day again in history
CNBC’s Robert Frank reports on news regarding Oracle’s Larry Ellison.
Klarna opens at $52 per share in NYSE debut after pricing IPO above range
Klarna priced its IPO at $40 on Tuesday in an offering that valued the company at about $15 billion.
Stocks making the biggest moves midday: Oracle, Chewy, Broadcom, GameStop & more
These are the stocks posting the largest moves midday.
Wells Fargo CEO says Trump is entitled to be vocal about the Fed
Wells Fargo CEO Charlie Scharf said he “absolutely” supports the Federal Reserve’s independence, but that the president is free to discuss interest rates.
5 takeaways from the producer price inflation report with another key reading on tap
The producer price index, a gauge of costs at the wholesale level in the U.S. economy, posted an unexpected 0.1% decline in August.
Uber partners with fintech firm Pipe to offer capital to small businesses
Uber is partnering with fintech firm Pipe to incorporate embedded technology in the Uber Eats Manager for small businesses to access capital.
Wells Fargo CEO sees ‘more downside’ to U.S. economy as lower-income consumers struggle
Wells Fargo CEO Charles Scharf commented on the state of the economy the day after JPMorgan Chase CEO Jamie Dimon said jobs data shows the economy is weakening.
Wholesale prices unexpectedly declined 0.1% in August, as Fed rate decision looms
The producer price index was expected to increase 0.3% in August, according to the Dow Jones consensus estimate.