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☆ High Interest Rates Are Hitting Poorer Americans the Hardest
▼ + stars: | 2024-05-14 | by ( Ben Casselman | Jeanna Smialek | ) www.nytimes.com time to read: +1 min

High interest rates haven’t crashed the financial system, set off a wave of bankruptcies or caused the recession that many economists feared. But for millions of low- and moderate-income families, high rates are taking a toll. More Americans are falling behind on payments on credit card and auto loans, even as many are taking on more debt than ever before. Monthly interest expenses have soared since the Federal Reserve began raising interest rates two years ago. She is making progress, but high rates aren’t helping.

Persons: ”, Ora Dorsey, Ms, Dorsey Organizations: Federal Reserve, Army Locations: Clarksville, Tenn

The 2024 Met Gala was held in New York City on Monday night. Celebrity couples were some of the night's best-dressed and nailed the " Sleeping Beauties" theme. AdvertisementCelebrity couples were some of the best-dressed stars of the 2024 Met Gala. Hosted at the Metropolitan Museum of Art in New York City on Monday, the annual fundraising ball welcomed guests to view the latest Costume Institute exhibit, titled "Sleeping Beauties: Reawakening Fashion." This story is available exclusively to Business Insider subscribers.

Persons: Rita Ora, Taika, — Organizations: Service, Metropolitan Museum of Art, Business Locations: New York City

☆ ‘Naked’ Trend Hits Big at the Met Gala
▼ + stars: | 2024-05-06 | by ( Callie Holtermann | More About Callie Holtermann | ) www.nytimes.com time to read: +1 min

What did the stars wear to the Met Gala on Monday night? The singer Rita Ora attended the event wearing multicolored strings of beads by Marni that cascaded down a sheer bodysuit. A trompe l’oeil gown by Diesel superimposed an image of a naked torso atop Kylie Minogue’s real one. Nakedness on the red carpet may still scandalize, but it is time tested: Consider Rose McGowan’s backless mesh dress at the Video Music Awards in 1998, which she has described as a statement about reclaiming her body. On the Met Gala carpet this year, the approach seemed to catch on more than usual, even after barely-there clothing took over the spring 2023 runways in New York, London, Milan and Paris.

Persons: Rita Ora, Doja, Kylie Minogue’s, Vanessa Friedman, Adam, Eve Organizations: Diesel Locations: New York, London, Milan, Paris

☆ Here are 3 dividend stocks that could offer passive income, fund managers say
▼ + stars: | 2024-04-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

In a market where finding reliable passive income streams can be challenging, two fund managers have shared their insights on dividend stocks that could offer attractive yields and growth potential. Broadcom One such stock Burdett highlighted is Broadcom , a semiconductor and software company. Orange Another stock Burdett finds compelling is Orange SA , a French telecommunications company with a current dividend yield of 6.8%. ORA-FR 1Y line While the stock price has remained relatively unchanged this year, Wall Street expects it to rise by 25% to 13.25 euros. The spun-off cereal business of Kellogg Company, now known as Kellanova .

Persons: Matt Burdett, Burdett, Thornburg, MASMOVIL, ORA, WK Kellogg Brian Leonard, Keeley Teton, Leonard, Leonard citied WK Kellogg, Mills, WK Kellogg Organizations: Thornburg Investment, Broadcom, CA Technologies, VMware, Wall, Orange, Burdett, Orange SA, CNBC Pro, Leonard citied WK Kellogg Co, Kellogg Company Locations: Burdett, United States, French, U.S, Orange, France

VATICAN CITY (AP) — The Vatican on Monday unveiled its groundbreaking project for the upcoming Venice Biennale of Art: A multimedia installation located inside Venice’s women’s prison, created with the active participation of inmates and artists and open to the public under strict security conditions. But at the unveiling Monday, officials stressed the absolute novelty of this year’s Vatican pavilion, given the unprecedented permission from Italian judicial authorities to allow Vatican curators to mount the exhibit in the Giudecca prison and involve the inmates in the works. Half a dozen artists will work alongside them, reflecting Francis’ belief in the value of dialogue, solidarity and fraternity. Most notably, Maurizio Cattelan is producing what curators described as a “large outdoor artwork” on the façade of the prison chapel. The Vatican’s culture minister, Cardinal José Tolentino de Mendonça concurred that the decision to house the Holy See pavilion in the prison was “unexpected."

Persons: Pope Francis, Francis ’, Maurizio Cattelan, Cattelan's, Nona Ora, Pope John Paul II, Cardinal José Tolentino de Mendonça, Francis, Corita Kent, Marco Perego, Zoe Saldana, Chiara Parisi, Claire Tabouret, Simone Fattal, Giovanni Russo, ’, ” Organizations: VATICAN CITY, Venice Biennale, Catholic, Italian Justice Ministry Locations: Venice, American

☆ Millennials have been priced out of buying homes, and are venting that they can't afford rent either
▼ + stars: | 2024-02-22 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Read previewFirst millennials were priced out of buying homes, and now they can't even afford their rent. In another recent video, Ora Hardesty tearfully said that for the first time ever she wouldn't be able to afford rent. "I don't have a lot of lavish things, I don't go on vacations, and I don't spend a lot." Rents are higher than ever, and millions of millennials are spending the majority of their paychecks on their housing. AdvertisementAccording to real-estate experts, millennials are in a perfect storm, tackling a slew of financial woes at once.

Persons: —, Kaitlin Murray, she'd, it's, Ora Hardesty, Alana Lindsay, Coldwell Banker Warburg, Omer Reiner, Rashi Malhotra, Lee Davenport, Whoopi, Whoopi Goldberg Organizations: Service, Business, Coldwell Banker, BI Locations: Boston, New York, Savannah , Georgia, United States

PARIS (AP) — Dior's menswear maestro Kim Jones transformed a sunny afternoon in Paris into a starlit evening of balletic grandeur at Paris Fashion Week, in a display of fashion theatrics. Inspired by the legendary ballet icons Margot Fonteyn and Rudolf Nureyev, Jones delivered an exuberant spectacle at the Ecole Militaire annex on Friday. Amid the haunting melodies of Sergei Prokofiev’s “Romeo and Juliet,” the collection intertwined Dior’s fine tailoring with a joyful explosion of theatrical glamour. JUNYA WATANABE’S THRIFT-SHOP CHICJunya Watanabe unveiled a collection that was a masterful blend of eerie mood-setting and aggressive urban fashion. The clothes featured a mix of traditional tailoring and streetwear elements, a nod to his 2001 debut when he first merged high fashion with everyday wear.

Persons: Kim Jones, Margot Fonteyn, Rudolf Nureyev, Jones, Sergei Prokofiev’s “ Romeo, Juliet, Lewis Hamilton, Bill Nighy, Kate Moss, Nicholas Hoult, Rita Ora, Princess Eugenie, Pharrell Williams, Nureyev, Junya Watanabe Organizations: PARIS, Fashion, Ecole, grays, of Dior Locations: Paris

☆ The best red carpet looks from the British Fashion Awards 2023
▼ + stars: | 2023-12-05 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —On Monday night, the British Fashion Council orchestrated its annual British Fashion Awards — a star-studded ceremony in London aimed at encouraging new, trailblazing designers, as well as honoring stalwarts of the industry. Across the red carpet, sequins, velvet and red tones conquered in what was a decidedly festive sartorial palette. Gareth Cattermole/Getty ImagesAnne Hathaway stunned onlookers in vintage Valentino. Gareth Cattermole/Getty ImagesRita Ora wore Primark, a nod to her latest collaboration with the high-street retailer. Gareth Cattermole/Getty ImagesPamela Anderson rocked the no makeup look once more, wearing a Gareth Cattermole/Getty Images Europe/Gareth Cattermole/Getty Images

Persons: Anne Hathaway, Gwnyeth Paltrow, Pamela Anderson, Taylor Russell, Paloma Elsesser, Kate Moss, Alexa Chung, Laura Whitmore, Sam Smith, Iris Law, Vivienne Westwood, Caroline Rush, Richard Quinn, Queen Elizabeth II, Neil Mockford, Loewe, Gareth Cattermole, Amal Clooney, Versace, Joe Maher, Dominic Lipinski, Lewis Hamilton, Wales Bonner, Getty, Michaela Coel, Suki Waterhouse, David Fielden, Valentino, Gwyneth Paltrow, Paltrow, Valentino Garavani, Giancarlo Giammetti, Gillian Anderson, Rita Ora, Isamaya Ffrench Organizations: CNN, British Fashion Council, Alexa, Getty Locations: London, British, LA, Europe

☆ A lion prowled the streets of an Italian village for more than five hours after escaping from a circus
▼ + stars: | 2023-11-12 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

A lion escaped from a circus in Italy on Saturday and spent several hours on the loose. Residents were warned to stay at home until the lion was captured. AdvertisementAdvertisementA lion spent more than five hours roaming the streets of an Italian town on Saturday after escaping from a circus. AdvertisementAdvertisementIn a second Facebook post, Grando confirmed that the lion had been "sedated and captured" and would be returned to circus staff. Local media said investigations into what happened would be carried out, but the circus operators suggested that the lion may have been released intentionally.

Persons: —, Alessandro Grando, asta Organizations: Service, uga Locations: Italy, Ladispoli, Rome, uinta

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ CNBC Daily Open: An ‘immaculate disinflation’ amid uncertainty?
▼ + stars: | 2023-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. They're all but certain the central bank will keep interest rates the same for now, according to the CME FedWatch Tool. It's the November meeting investors are fretting over. Hence, the Fed's dot plot, which charts where the central bankers think interest rates will be in the short- and long-term, will be closely scrutinized by investors. "And I think we may very well have immaculate disinflation, where inflation comes down without an economy-wide recession."

Persons: Goldman Sachs, Jan Hatzius, it's, Hatzius, Ed Yardeni, they're, Yardeni Organizations: New York Stock Exchange, Ormat Technologies, Inc, NYSE, CNBC, Yardeni Locations: U.S

☆ Vogue World: Stars flock to Britain’s answer to the Met Gala
▼ + stars: | 2023-09-15 | by ( Nicole Mowbray | ) edition.cnn.com time to read: +6 min

London, UK CNN —It was billed as Britain’s answer to the Met Gala, and last night’s inaugural “Vogue World” at the Theatre Royal on London’s Drury Lane didn’t disappoint. Vianney Le Caer/Invision/APActress and singer Dove Cameron went back to the future in a shiny silver suit and matching bikini top. Vianney Le Caer/Invision/Vianney Le Caer/Invision/APThe late Queen Elizabeth II's granddaughter, Princess Eugenie, looked elegant in an emerald silk dress by Fendi. Vianney Le Caer/Invision/APKate Winslet went for casual chic in a loose-fit two-piece white suit with a beige bustier underneath. Vianney Le Caer/Invision/APRita Ora arrived in a black Alaïa mermaid gown sourced from eBay.

Persons: Lane didn’t, Anna Wintour, Edward Enninful —, Sienna Miller, Miller, Beatrice, Eugenie, Richard Quinn, Fendi, Yui Mok, Sadiq Khan, Baz Luhrmann, Kate Winslet, Jared Leto, Jodie Turner Smith, Maisie Williams, Stella McCartney, Christopher Kane, Victoria Beckham, Olivier, Stephen Daldry, John Galliano, Kate Moss, Hongni Wu, Rambert, Stormzy, Sophie Okonedo, Damien Lewis, Cush Jumbo, James Corden, Damian Lewis, James McAvoy, “, Annie Lennox, Naomi Campbell, Cindy Crawford, Linda Evangelista, Christy Turlington, Mike Marsland, AJ Odudu, Robert Wun, Vianney Le Caer, Dove Cameron, Queen Elizabeth II's, Princess Eugenie, Fendi . Vianney Le Caer, Princess Beatrice, David M, Alison Mosshart, Alexa Chung, Nicklas Skovgaard, Anna Shaffer, David Fisher, Carrie Mulligan, Henry Nicholls, Jenna Coleman, Peter Pan, May Jagger, Jerry Hall, Mick Jagger, Vivienne Westwood, Tom Daley, Gemma Chan, Louis Vuitton, Rita Ora, Hollie Adams Organizations: UK CNN, Theatre Royal, US, British Vogue, London, London’s, BAFTA, National Theatre, Royal Opera House, Royal Ballet, Southbank Sinfonia, Rambert, Getty, Rodarte’s, MTV, Model, eBay, Reuters Locations: London, UK, British, Invision, AFP

☆ Taika Waititi: La La Land meets lineouts – Hollywood A-lister forays into the world of rugby
▼ + stars: | 2023-09-15 | by ( Amanda Davies | ) edition.cnn.com time to read: +5 min

CNN —Hollywood A-lister Taika Waititi is much more comfortable holding an Academy Award than lifting the Rugby World Cup trophy. “The only World Cup I’ve been to is the very first one in 1987 with my father and that was a very special moment,” he said. They’ve now suffered two losses in a row having lost to reigning champion South Africa in August before the World Cup kicked off. Waititi talks on the field during the Rugby World Cup 2021 New Zealand match against Australia. But the Rugby World Cup has provided some of the biggest upsets in the history of sport, notably when Japan stunned South Africa in 2015.

Persons: lister Taika, “, Amanda Davies, ”, Waititi, Webb Ellis, Alex Livesey, Marvel’s, Thor, Kiwi Waititi, Jerome Kaino, Andrew Mehrtens, Chabal, John Kirwan, They’ve, we’re, ” Waititi, Mike Hewitt, Rita Ora, Te, Matewa –, Phil Walter, “ Jojo Rabbit, I’d Organizations: CNN, Hollywood, Rugby, de Rugby, Zealand, NZR, Webb, Getty, Italy, New Zealand, Blacks, South Africa, rugby, FIFA, Australia, American Samoa soccer team Locations: France, Zealand, New Zealand, Namibia, Italy, Uruguay, Japan, South Africa, Australia, American Samoa

☆ New Zealand: 'Dinner plate sized' device found inside woman's abdomen 18 months after cesarean birth
▼ + stars: | 2023-09-04 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —A surgical tool the size of a dinner plate was found inside a woman’s abdomen 18 months after her baby was delivered by cesarean section, according to a report by New Zealand’s Health and Disability Commissioner. The AWR is a retractable cylindrical device with a translucent film used to draw back the edges of a wound during surgery. The woman suffered months of chronic pain and went for several checkups to find out what was wrong, including X-rays that showed no sign of the device. New Zealand’s Health and Disability Commissioner, Morag McDowell, found Te Whatu Ora Auckland – the Auckland District Health Board – in breach of the code of patient rights, in a report released on Monday. Dr Mike Shepherd, Te Whatu Ora Health New Zealand group director of operations for Te Toka Tumai Auckland, apologized for the error in a statement.

Persons: Alexis retractor, Morag McDowell, Te, Ora, cesarean, ” McDowell, Alexis Retractor doesn’t, McDowell, Dr Mike Shepherd, Whatu Ora, ” Organizations: CNN, New Zealand’s Health, Disability, Auckland City Hospital, Health, AWRs, Ora Health Locations: Auckland, Ora, Toka, Te Toka

[1/2] The BYD Atto 3 EV car is displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. Siam Motors is in talks with several Chinese automakers about potential partnerships, particularly for high-end electric vehicles, vice president Sebastien Dupuy said in an interview, referring to previously unreported discussions. Thailand is Southeast Asia's largest car producer and exporter, and its second-largest sales market after Indonesia. Japanese automakers are so dominant that for decades they have treated it almost as an extension of their home market. Thailand's pitch to Chinese EV makers has been its existing supply base – built largely for Japanese automakers – and readiness to provide incentives.

Persons: Athit, Sebastien Dupuy, Pasit Chantharojwong, Wall's Ora, Tesla, Isuzu, Hajime Yamamoto, Yamamoto, Goldman Sachs, General Narit Therdsteerasukdi, Narong Sritalayon, BEV, Chayut, Daniel Leussink, Kevin Krolicki, Jamie Freed Organizations: REUTERS, Siam Motors, Nissan Motors, EV, Reuters Graphics CHINA, JAPAN, Toyota Corolla, China's SAIC, Toyota, Honda, Nomura Research, Reuters, Thailand's, of Investment, Wall, Thomson Locations: Thailand, Bangkok, Thailand BANGKOK, Siam, BYD, China, Thai, Southeast, Indonesia, Japan, Europe, JAPAN Bangkok, Tokyo

☆ Chinese electric vehicle investment plans in Thailand
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +4 min

July 10 (Reuters) - Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia's biggest automaking hub that has long been dominated by Japanese companies. IN THE PIPELINESeveral deals are also in the pipeline, according to the Thailand Board of Investment (BOI), which has been pursuing Chinese automakers. Chongqing Changan, GAC and Chery did not respond to requests for comment on their plans for Thailand. RISING POPULARITYThe influx of Chinese models appears to be helping to boost the popularity of EVs in Thailand, the second-largest car market in Southeast Asia. On Toyota's (7203.T) Thailand website, the Corolla Altis is priced at 894,000 baht and the Yaris Ativ at 549,000 baht.

Persons: China's, Thailand's, BOI, Geely, Wall's Ora, Devjyot, Jamie Freed Organizations: Asia's, General Motors, EV, Electronics, Auto, SAIC, Charoen, New Energy, Assembly, of Investment, State, Chongqing Changan Automobile, Ford, Mazda, Guangzhou Automobile Group, China's Chery, Chongqing Changan, GAC, Chery, Reuters, Corolla, Thomson Locations: Thailand, EVs, Southeast Asia, Europe, Chongqing, China, BOI, Bangkok

The Hebei-based company is also considering establishing a research and development centre in Thailand that could work on battery powered pickup trucks, Narong Sritalayon, managing director of Great Wall Motor Thailand said in an interview. "I think there is a lot of things we can learn from Thailand's unique market for pickup trucks," Narong said. Great Wall launched its Ora Good Cat compact EV in Thailand in late 2021. Great Wall entered Thailand in 2020 after taking over a former General Motors Co (GM.N) plant that currently makes two of its Haval hybrid vehicles for sale in the country. But the facility could be upgraded for battery cell production with additional investment depending on demand and Thai government support, Great Wall added.

☆ Met Gala 2023 fashion: The best looks from the red carpet
▼ + stars: | 2023-05-01 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

The Met Gala theme is based on the Costume Institute’s spring show “Karl Lagerfeld: A Line of Beauty,” which is a posthumous retrospective of the German fashion designer’s work. Dimitrios Kambouris/Getty ImagesIce Spice Jamie McCarthy/Getty ImagesOlivia Wilde opted for a Chloé "violin" dress — one of Lagerfeld's designs from the 1980s — in white and gold. John Shearer/WireImage/Getty ImagesActor Ariana DeBose made an entrance in an Altuzarra fur-trimmed yellow hooded gown, arriving with designer Joseph Altuzarra. John Shearer/WireImage/Getty ImagesMet Gala co-chair Dua Lipa in a voluminous Chanel corset dress. Evan Agostini/Invision/APTop Photo: Gisele Bündchen (Dimitrios Kambouris/Getty Images)

☆ South African teen dreams of becoming first Black racer in MotoGP
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Siphiwe SibekoJOHANNESBURG, April 21 (Reuters) - As 14-year old Oratilwe Phiri whizzes past his father on a black and turquoise motorcycle at a racetrack east of Johannesburg, he has one goal in mind: to one day be the first Black person to race in MotoGP. Ora - as he is known - has been racing since he was four, thanks to an interest ignited by his motorcycle enthusiast father Thabiso Phiri. Grand Prix motorcycle racing historically has been dominated by European racers. The teenager's idol Brad Binder - who he met last month - is the first and only South African to win a race in MotoGP. "(To) be the first Black person to be racing overseas, in the series MotoGP...

☆ China's GWM taps Brazil's WEG for electric vehicle charging network
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] EV car Good Cat by Ora, a brand by Great Wall Motors, is displayed at the Bangkok International Motor show in Bangkok, Thailand, March 22, 2022. REUTERS/Athit PerawongmethaSAO PAULO, April 4 (Reuters) - Chinese electric car maker Great Wall Motors (GWM) (601633.SS) on Tuesday said is planning to install an electric vehicle charging network in Brazil through an exclusive partnership with local motor manufacturer WEG (WEGE3.SA). The partnership involves developing "a broad network for recharging electrified vehicles at dealerships, parking lots, shopping malls and other commercial establishments," GWM said in a statement. WEG will provide the Chinese firm "electric vehicle chargers to be sold to consumers and to be installed at the automaker's dealerships," it added. ($1 = 5.0852 reais)Reporting by Alberto Alerigi Jr., editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Japan to restrict chipmaking equipment exports as it aligns with U.S.
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: +1 min

Employees move semiconductor testers on the assembly line of the Advantest Corp. plant in Ora, Japan on Aug. 10, 2012. Japan's government on Friday said it plans to restrict exports of 23 types of semiconductor manufacturing equipment, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. The trade and industry minister in a press release said it will impose export controls on six categories of equipment used in chip manufacturing, including cleaning, deposition, lithography and etching. The export restrictions, which will come into force in July, are likely to affect equipment manufactured by a dozen Japanese companies, such as Nikon , Tokyo Electron , Screen Holdings and Advantest . Washington, however, needs Japan and the Netherlands, which are key suppliers of such equipment, to join it to make those restrictions effective.

☆ Endangered Komodo dragons hatch at Spanish zoo
▼ + stars: | 2023-03-28 | by ( Jon Nazca | ) www.reuters.com time to read: +2 min

[1/5] Embum, a one-month-old baby Komodo dragon, one of the five Komodo dragons born at Bioparc Fuengirola, rests in a terrarium in Fuengirola, southern Spain, March 28, 2023. REUTERS/Jon NazcaFUENGIROLA, Spain, March 28 (Reuters) - Five Komodo dragon hatchlings have been born at a zoo in Spain, the first successful breeding of the world's largest lizard - an endangered species - in the country for a decade. "This is a great achievement for all of us," Milagros Robledo, the head of the Herpetology department at the Bioparc Fuengirola zoo in southern Spain and self-described "mother" of the dragons, told Reuters on Tuesday. The baby dragons' parents mated on June 24 last year, when Spaniards celebrate the feast of St John. In the wild, newborn Komodo dragons tend to move to the treetops and need no maternal or paternal care, Robledo said.

☆ Adidas, burnt by Kanye West split, seeks a new focus
▼ + stars: | 2023-03-08 | by ( Helen Reid | ) www.reuters.com time to read: +4 min

[1/2] Adidas Yeezy shoes are seen in a store on the day Adidas terminated its partnership with the American rapper and designer Kanye West, now known as Ye, in Garden City, New York, U.S., October 25, 2022. Speaking to reporters on Wednesday, Gulden said Adidas would keep partnering not just with athletes but celebrities and artists. "You build credibility as a performance brand by being with athletes, but there's very few athletes that you can do lifestyle with." Gulden did, however, hint at a change of emphasis at Adidas, saying the company needs to refocus on its core. The Jordan brand brought in $5.1 billion of sales in Nike's 2022 fiscal year, up 7% from 2021, according to the company's 2022 annual report.

☆ Tesla's China sales slow as price-cut boost wanes
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +3 min

The U.S. automaker nearly doubled weekly retail sales in the week of Feb. 20 to 10,703 vehicles versus a week prior, showed data from China Merchants Bank International (CMBI) on Tuesday, which tracks weekly retail sales based on car insurance registrations. Sales are slowing in part due to an ageing product line, said Yale Zhang, managing director at Shanghai-based consultancy Automotive Foresight. Consumers are also delaying purchases while waiting to see if other EV makers cut prices, Zhang said. Meanwhile, the market share of BYD Co Ltd (002594.SZ), surged to 37% from 27%, CMBI data showed. Smaller EV players such as Leap Motor and Great Wall Motor Co Ltd's (601633.SS) Ora are among those whose market share shrank.

☆ Chipotle is launching Farmesa, a spinoff selling 'California-inspired' bowls of salmon, whipped potatoes, quinoa, and more
▼ + stars: | 2023-02-15 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Chipotle is launching a virtual restaurant brand featuring "California-inspired" bowls. The virtual restaurant makes its debut later this month in a ghost kitchen in Santa Monica, California. Farmesa will operate at the Kitchen United Mix food hall at Third Street Promenade, a tourist-heavy outdoor retail center in Santa Monica. Kitchen United is a Pasadena, California-based ghost kitchen operator with locations all over the US. Chipotle's new concept, Farmesa, is opening later this month at ghost kitchen/food hall Kitchen United Mix.

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