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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo rate cuts might not be enough, warns Wells Fargo’s Michael SchumacherMichael Schumacher, Wells Fargo, joins 'Fast Money' to talk what to expect from this week's FOMC meeting, if any rate cuts are on the table, the state of inflation, and more.
Persons: Wells Fargo’s Michael Schumacher Michael Schumacher, Wells Locations: Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChristie's puts $2 million watch formerly owned by F1 legend Michael Schumacher on the auction blockRemi Guillemin, Christie’s head of watches, joins 'Money Movers' to discuss what's happening in the luxury watch market, the watches set to hit auction, and more.
Persons: Michael Schumacher, Remi Guillemin
CNN —Eight of Formula One legend Michael Schumacher’s luxury and personalized watches are going up for auction – and they could sell for more than $4.8 million in total. The Rolex stainless steel Paul Newman Daytona watch was named after the Daytona International Speedway in Florida, according to auction house Christie's head of Watches Remi Guillemin. Christie's Images LTD. 2024The collection will form part of Christie’s traditional rare watches auction, consisting of vintage and modern pieces of high-caliber watchmaking from brands such as Audemars Piguet, F.P. Christie's Images LTD. 2024The platinum Vagabondage 1 watch was also a gift from Todt, but for the following Christmas. “These watches (are) for people who are following Formula One, who have followed, like I have, Michael Schumacher when he was racing.
Persons: Michael Schumacher’s, , Remi Guillemin, “ We’re, Paul Newman Daytona, Journe, Paul Newman, Guillemin, Jean Todt, chronograph, Schumacher, Christie’s, Michael Schumacher, Todt, Ferrari, ” Guillemin, Corinna, Michael Organizations: CNN, Miami Grand Prix, Daytona, Rolex, Paris Brain Institute, Foundation, Netflix Locations: New York, Geneva, Switzerland, Florida
CNN —It was the comment that landed him in hot water with Masters fans and aged terribly, but – 13 rounds later – Bryson DeChambeau finally shot below his interpretation of par at Augusta National. Now, the golfer once dubbed “the Scientist” for his willingness to test new technologies is owning up to old errors. “Clearly today was a great test of golf, and I was able to conquer a very difficult golf course today. I shot 65 today, and that was one of the best rounds of golf I’ve played in a long time. “That’s the secret to winning major championships and winning big-time golf tournaments: more limiting the mistakes rather than making a ton of birdies.
Persons: – Bryson DeChambeau, , LIV, Storms, DeChambeau, Andrew Redington, I’m, ” DeChambeau, Rob Schumacher, pigeonhole, I’ve, Nick Faldo, Jon Rahm’s, LIV Golf, Faldo, , DeChambeau –, , Bryson, Scottie Scheffler, Arnold Palmer, Warren Little, Denmark’s Nicolai Højgaard, Tiger Woods, ” Woods, Rahm, McIlroy, Gene Sarazen, Ben Hogan, Gary Player, Jack Nicklaus, Woods, Scheffler, Xander Schauffele, Scottie, ” McIlroy Organizations: CNN, Masters, Augusta National, Augusta, USA, Sports, Reuters, PGA, Sky, Arnold Palmer Invitational, Tiger Locations: Saudi, Augusta, scintillating
London CNN —The world’s biggest ice cream business is about to go it alone. The newly minted firm will boast five of the 10 best-selling ice cream brands worldwide, namely Magnum, Ben & Jerry’s, Breyers, Walls and Cornetto. “The future growth of Unilever and ice cream is best served by separating the business,” Unilever CEO Hein Schumacher told journalists. Philippe Wojazer/ReutersThe origins of Unilever’s ice cream business can be traced back to the summer of 1913, when Thomas Wall started selling ice cream from his family butcher shop in London. But its ice cream sales took a hit last year as cash-strapped consumers cut back on non-essential spending.
Persons: Jerry’s, , Hein Schumacher, ” Schumacher, Miko Carte, Philippe Wojazer, Thomas Wall, Matt Britzman, Hargreaves, , , Schumacher Organizations: London CNN, Unilever, ” Employees, Schumacher Locations: Saint, France, London,
LONDON (AP) — Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and would benefit from separate ownership to increase growth. The British consumer goods company with 128,000 employees also said it is launching a “productivity program” that is expected to lead to a reduction of about 7,500 mostly office-based jobs worldwide. The company behind Hellman’s mayonnaise, Axe fragrances and Cif household cleaners said it is targeting underlying sales growth of mid-single digits after spinning off the ice cream business. It saw sales volume drop 3.6% in 2022 after jacking up prices 13.3% on average across its brands that year.
Persons: Hein Schumacher, , Richard Hunter Organizations: — Unilever, Unilever, London Stock Exchange Locations: London
Unilever, the consumer goods giant, said on Tuesday that it would cut 7,500 jobs and spin off its ice cream unit, which includes Ben & Jerry’s, to reduce costs and simplify its portfolio of brands. The moves would make for “a simpler, more focused and higher performing Unilever,” Ian Meakins, the London-based company’s chair, said in a statement. The group’s ice cream unit generated 7.9 billion euros ($8.6 billion) in sales last year, or about 13 percent of the group’s total. The division is home to Ben & Jerry’s, which Unilever acquired in 2000, along with other brands like Cornetto, Magnum, Talenti and Wall’s. The spinoff is expected to be completed by the end of 2025.
Persons: ” Ian Meakins, Hein Schumacher Organizations: Unilever Locations: London
In each case, substitute materials were used to make furniture that was less expensive but also less durable than the solid wood pieces that previous generations bought. "In the 1980s, you could buy a sofa for $399. You could probably still buy a sofa for $399," Koehler said. But choosing a more expensive piece isn't necessarily a guarantee of better quality, Koehler said. You can also check the furniture description to see whether it is made from solid wood or particle board under a veneer.
Persons: CoCo Ree Lemery, Lemery, Mark Schumacher, Koehler Organizations: Purdue University, Home, CNBC, telltale
See inside Karl Lagerfeld’s many glamorous homes
  + stars: | 2024-03-06 | by ( Suyin Haynes | ) edition.cnn.com   time to read: +10 min
CNN —Fashion writer Patrick Mauriès first met Karl Lagerfeld in 1981, after he quoted the fashion designer in a short book he had written about contemporary fashion and culture. As Lagerfeld became more of a public figure in the 1990s and 2000s, he increasingly sought homes that could act as retreats, said Mauriès. Fotex/Shutterstock/Courtesy Thames & HudsonIn keeping with Lagerfeld’s constant need for change, there is little left of the homes and interiors featured in the book. Georges Kelaïditès/Roger-Viollet/TopFoto/Courtesy Thames & HudsonAlso in his Rue de l’Université residence, Lagerfeld poses in his sitting room for a photo spread published in a German magazine, circa 1972. Horst P Horst/Condé Nast/Shutterstock/Courtesy Thames & HudsonHere, the designer poses for a photo at the work desk in his office space.
Persons: Patrick Mauriès, Karl Lagerfeld, Lagerfeld, Chanel, Mauriès, , “ Karl Lagerfeld, Marie Kalt, Lagerfeld’s, l’Université, Pozzo, Borgo, Monte, Ettore Sottsass, Vila Jako, Jacques de Bascher, Swedish Grace, Jacques Schumacher “, , ” Lagerfeld, Kalt, Michael Graves, Rue de l’Université, Georges Kelaïditès, Roger, Max Scheler, Germain, Horst P Horst, Condé Nast, Hudson Lagerfeld, Villa La Vigie, Schorr, Jacques Schumacher, Jeff Koons, Joana Vasconcelas, François Coquerel, Jerome Galland, Villa Louveciennes Organizations: CNN, Hudson Each, Deco, Memphis Group, ancien, Hudson, Monaco, Rue de Lille, Rue de, de, & Hudson, Saint, Villa La, Hudson Lagerfeld's, Rue des Saints Pères Locations: Europe, Paris, Monte Carlo, Rome, Hamburg, Italian, Swedish, Monte, Sotheby’s, American, Rue, Roquebrune, France, Voisins
European Central Bank (ECB) President Christine Lagarde speaks as she presents the bank's 2022 Annual Report to the European Parliament, in Strasbourg, eastern France, on February 26, 2024. FRANKFURT — The European Central Bank will meet again this week amid falling inflation, a slight recovery in economic activity and the overall understanding that its next interest rate move will be downward. The only question really for markets is, when will that happen? Some months ago, the markets were convinced that the March meeting will be "the one." The recent consumer price readings showed a slowdown of headline inflation to 2.6% in February, but service prices still rose by 3.9% for the month.
Persons: Christine Lagarde, Dirk Schumacher Organizations: European Central Bank, ECB Locations: Strasbourg, France, FRANKFURT
Late last month, computing giant Dell cut part of its marketing team that focused on sustainability and other ESG-related marketing roles, Business Insider has learned. This story is available exclusively to Business Insider subscribers. AdvertisementThis is feeding into a growing trend of "green hushing," where companies stop publicizing their sustainability efforts due to concerns around regulatory scrutiny or a consumer backlash, experts say. Other sustainability agencies have been absorbed into wider offerings, R3 EVP of delivery Sarah Tan told Business Insider. Leo Rayman, head of the sustainability consultancy and venture studio Eden Lab, said that the green hushing phenomenon could suggest a sign of maturity in the space.
Persons: we're, Hein Schumacher, hushing, Pimco, , Harriet Kingaby, Sarah Tan, Kingaby, Bud, Bud Light, influencer Dylan Mulvaney, Guy Parker, — that'll, Parker, Leo Rayman, Rayman, Townsend Organizations: Dell, Business, Unilever, JPMorgan, State, ACT Climate Labs, Media, Advertising Network, Brands, Green Guides, Standards Authority, ASA, BMW, Shell, Etihad Airways, Competition, Markets Authority, Eden, Sustainability
A new Falcon 2000LXS costs around $36.5 million, while a pre-owned jet costs $24 million. The cockpit of a Dassault Falcon 2000LXS. Flying on the Falcon 2000LXS for 300 hours a year amounts to around $5 million in operating costs, per Guardian Jet. On average, the jet burns some 280 gallons of fuel per hour, which amounts to $1,400 in hourly fuel costs. Both these jets cost around $24.5 million new, per Guardian Jet.
Persons: Falcon, Pratt & Whitney Organizations: Dassault Falcon, Dassault Aviation, Guardian Jet, Guardian, Pratt &, Gulfstream, Bombardier
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWolfe Research's Stephanie Roth: 'We're expecting a soft landing'Stephanie Roth, Wolfe Research chief economist, and Michael Schumacher, Wells Fargo head of macro strategy, join 'The Exchange' to discuss the likelihood of a soft-landing, if recent inflation data is a cause for Fed concern, and more.
Persons: Wolfe, Stephanie Roth, Michael Schumacher, Wells Organizations: Wolfe Research Locations: Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChance of recession 'vanishingly low,' says Wells Fargo's Michael SchumacherJeff Kilburg, KKM Financial founder and CEO, and Michael Schumacher, Wells Fargo head of macro strategy, join 'The Exchange' to discuss the state of the economy, the timeline of potential rate cuts, and more.
Persons: Wells Fargo's Michael Schumacher Jeff Kilburg, Michael Schumacher, Wells Organizations: KKM Financial Locations: Wells Fargo
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The US is likely to avoid slipping into a recession, according to Wells Fargo head macro strategist Michael Schumacher. "We at Wells Fargo think that chance is vanishingly low at this point." This story is available exclusively to Business Insider subscribers.
Persons: , Wells, Michael Schumacher Organizations: Service, CNBC, Business Locations: Wells Fargo, Wells
New York CNN —Unilever is the latest company to report a rough fourth quarter because of boycotts against the company over the war in the Middle East. The company, which makes Vaseline, Dove soaps, Rexona deodorant and other household staples, said that sales declined 15% in Indonesia in the last three months of last year. “In Indonesia, we saw double-digit sales decline in the fourth quarter as sales of several multinational companies were impacted by geopolitically focused consumer-facing campaigns,” said Unilever CEO Hein Schumacher in a call Thursday. Other companies made similar statements recently about boycotts in overseas countries. Brands, which owns KFC and Pizza Hut, said its chains’ “sales were impacted by the conflict in the Middle East region with varying degrees of impact,” which dented same-store sales growth in several countries.
Persons: deodorant, , Hein Schumacher, McDonald’s Organizations: New, New York CNN, Unilever, Consumers, Brands Locations: New York, Indonesia, Western, Gaza,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Consumers are still seeking more premiumized products,' says Unilever CEOHein Schumacher, CEO of Unilever, discusses consumer behavior after the company's full-year results.
Persons: Hein Schumacher Organizations: Unilever
Unilever launches $1.6 billion buyback as CEO demands improvements
  + stars: | 2024-02-08 | by ( ) www.cnbc.com   time to read: +3 min
Unilever launched a 1.5 billion euro ($1.6 billion) share buyback on Thursday after volumes increased for the first time in 10 quarters, although its CEO said its performance needs to improve. Unilever's shares rose as much as 4% on Thursday, hitting their highest point since it last reported earnings in October. Unilever said it expects "modest improvement" in underlying operating margin for the full year and underlying sales growth within its multi-year 3% to 5% range. The company reported a roughly 5% rise in fourth-quarter underlying sales, meeting analysts' average forecast, a company-provided consensus showed. Underlying fourth quarter price growth was 2.8% and underlying volumes were up 1.8%, rising for the first time since the second quarter of 2021.
Persons: Hein Schumacher, Charlie Huggins, Huggins Organizations: Unilever, Wealth Locations: Russia, Ukraine
CNN —Seven-time Formula One world champion Lewis Hamilton said that he’s fulfilling a “childhood dream” by joining Ferrari in 2025 in his first social media post since his sensational move away from Mercedes was announced on Thursday. “It’s been a crazy few days which have been filled with a whole range of emotions. But as you all now know, after an incredible 11 years at Mercedes-AMG PETRONAS F1 Team, the time has come for me to start a new chapter in my life and I will be joining Scuderia Ferrari in 2025,” Hamilton said on his social media channels on Saturday. “I feel incredibly fortunate, after achieving things with Mercedes that I could only have dreamed of as a kid, that I now have the chance to fulfil another childhood dream. The 39-year-old Hamilton, who shares the record for the most F1 world titles with Michael Schumacher, joined Mercedes in 2013 after beginning his career with McLaren in 2007.
Persons: Lewis Hamilton, Mercedes, “ It’s, ” Hamilton, , Carlos Sainz, Will Buxton, Hamilton, Michael Schumacher, Ferrari, , “ Mercedes, we’ve, I’m, Toto, Wolff, Niki, Lauda, Francois Nel, ” Hamilton’s, George Russell Organizations: CNN, Ferrari, Mercedes, PETRONAS F1 Team, Scuderia Ferrari, Sky Sports, McLaren, Arrows, Scuderia Locations: Spanish, British
CNN —Rumors and speculation are swirling as multiple UK outlets and racing publications are reporting that seven-time Formula One champion Lewis Hamilton is poised to leave Mercedes and join Ferrari for the 2025 season. Nothing has been formally announced, and none of the parties will confirm a deal is in place. CNN has reached out to Mercedes and Ferrari, who both declined to comment. CNN has also reached out to representation for Hamilton. However, in a shock move first reported by Sky Sports and Spanish media, Hamilton is now expected to leave Mercedes a year early to join Charles Leclerc at Ferrari for 2025, replacing Carlos Sainz.
Persons: Lewis Hamilton, Phil Duncan, Michael Schumacher, Hamilton, Mercedes, Clive Mason, Charles Leclerc, Carlos Sainz, Leclerc, Sainz, “ Lewis Hamilton’s, he’s, ” Duncan, Amanda Davies, , Ferrari –, that’s Organizations: CNN, Mercedes, Ferrari, Press Association, Hamilton, McLaren, Getty, Sky Sports, Formula Locations: London, British, Spanish
Read previewDomino's Pizza is the latest American brand to face blowback as some consumers change their buying habits in light of Israel's invasion of Gaza. Domino's Pizza Enterprises, a franchisee of the US company that operates Domino's restaurants in Australia, Europe, and Asia, said same-store sales in Asia fell an estimated 8.9% in the second half of 2023. Domino's Pizza Enterprises also operates in countries including Singapore, Japan and Taiwan. Spokespeople for Domino's Pizza Enterprises and Procter & Gamble did not immediately respond to Business Insider's request for additional comment. In an investor presentation last month, Unilever CEO Hein Schumacher said that some of its brands in Indonesia have been affected by "the wars in the Middle East."
Persons: , America —, Donald Meij, Domino's, Gamble, McDonald's hasn't, Ian Borden, Borden, Hein Schumacher Organizations: Service, Business, Pizza Enterprises, Enterprises, Palestine, CNN, Israel, Procter & Gamble, Bloomberg, Starbucks, Domino's Pizza Enterprises, Procter, Reuters, Unilever Locations: Gaza, Australia, Europe, Asia, Malaysia, Singapore, Japan, Taiwan, Israel, Indonesia, Pakistan, pushback, Egypt, Jordan, London
If the game starts closer to the evening — think Sunday Night Football, Monday Night Football, or Thursday Night Football — the four-time Pro Bowler still starts the day with his jam-packed breakfast bowl. AdvertisementIn recent years, the 30-year-old has added another pre-game boost — one fueled by superstition — to his meal plan: a pumpkin loaf from Starbucks. Rob Schumacher-USA TODAY Sports"It is on and off a little bit," Kittle told BI. "So we were like, okay, no pumpkin loaf for a little bit," he added. "And I think it went pretty well for us on Thursday Night Football."
Persons: George Kittle, Kittle, , Alka, Seltzer, Ross D, Pro Bowler, Sergio Estrada, Rob Schumacher Organizations: San Francisco 49ers, NFL, Service, Business, Franklin, Football, USA, GQ, 49ers, Seattle Seahawks, Starbucks Locations: Kittle, Seattle
CNN —Go to a major tennis tournament and it’s hard to miss the Carota Boys, a team of six men decked in full-body, bright-orange carrot costumes. It’s only over the past seven or so months that the Carota Boys’ love for Sinner has really blossomed, endearing themselves to the tennis public in the process. The conception of the Carota Boys originates with the friends’ tradition of buying tickets for tennis tournaments to celebrate each other’s birthdays. The Carota Boys attend the ATP Tour Finals in Turin, Italy, watching Sinner take on Greece's Stefanos Tsitsipas. “Jannik and all the Carota Boys are born in a place near the mountains.
Persons: Sinner, – Lorenzo Ferrato, Francesco Gaboardi, Gianluca Bertorello, Enrico Ponsi, Alessandro Dedominici, Alberto Mondino –, TIZIANA FABI, Ferrato, Lavazza, Novak Djokovic, , ” Ferrato, “ Jannik, Clive Brunskill, “ Let’s, let’s, we’ve, Jannik, , Valentino Rossi, Max, Michael, Schumacher, Daniil Medvedev, Valerio Pennicino, Carlos Alcaraz, Denmark’s Holger Rune, Djokovic, ” Djokovic, he’s, Sinner’s Organizations: CNN, Carota Boys, ATP, Getty, CNN Sport, Boys, Wimbledon, Davis, ITF Gaboardi, Italy, Australia, Locations: Italy, It’s, Turin, Revello, Rome, AFP, Vienna, Austria, Paris, London, New York, Malaga, Spain, Formula
CNN —And so the curtain falls on a Formula One season dominated by Max Verstappen and his Red Bull team, with the Dutchman securing a record-extending 19th victory of the year at the Abu Dhabi Grand Prix. Never before has the sport seen a driver win with such regularity and ease, the three-time world champion again comfortably crossing the finishing line first at the season-ending race at the Yas Marina Circuit. Verstappen led from start to finish to secure his fourth win on the trot in Abu Dhabi. “It was an incredible season,” Verstappen told reporters. At one point, it seemed probable rather than possible that the team would win every race of the season, an outcome that faded away when Ferrari’s Carlos Sainz won the Singapore Grand Prix.
Persons: Max Verstappen, Lewis Hamilton, Michael Schumacher, Verstappen, Ferarri’s Charles Leclerc, Sergio Perez –, ” Verstappen, Ferrari’s Carlos Sainz, Bull Organizations: CNN, Red Bull, Grand Prix, Yas Marina Circuit, Singapore, Prix, Las Vegas Locations: Abu, Grand, Abu Dhabi
Mick Schumacher to race for Alpine in world endurance
  + stars: | 2023-11-22 | by ( ) www.reuters.com   time to read: +1 min
Formula One F1 - Qatar Grand Prix - Lusail International Circuit, Lusail, Qatar - October 7, 2023 Mercedes' reserve driver Mick Schumacher ahead of the sprint shootout REUTERS/Rula Rouhana/File photo Acquire Licensing RightsNov 22 (Reuters) - Mick Schumacher will race for Alpine in the world endurance championship next season while continuing as Formula One reserve driver for Mercedes. Alpine announced the 24-year-old German, son of seven-times F1 world champion Michael, on Wednesday as one of six drivers competing for them in two A424 Hypercars. Schumacher will join French drivers Nicolas Lapierre, Matthieu Vaxiviere, Charles Milesi and Paul-Loup Chatin as well as Austrian Ferdinand Habsburg. Mercedes confirmed separately that the German, who raced for Haas in Formula One in 2021 and 2022, would continue as their reserve. "A new chapter is beginning for me with Alpine," said Schumacher.
Persons: Mercedes, Mick Schumacher, Rula, Michael, Schumacher, Nicolas Lapierre, Matthieu Vaxiviere, Charles Milesi, Loup Chatin, Austrian Ferdinand Habsburg, I've, Le Mans, Williams, Alan Baldwin, Ed Osmond Organizations: Qatar, One, Mercedes, Alpine, Haas, Formula One, Le, Formula, Thomson Locations: Lusail, Qatar, Paul, Austrian, London
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