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☆ 5 reasons G7 Summit 2023 in Hiroshima, Japan matters
▼ + stars: | 2023-05-18 | by ( Brad Lendon | ) edition.cnn.com time to read: +9 min

CNN —This year’s G7 meeting in Japan holds special significance, not only for its location. Japanese Prime Minister Fumio Kishida arrives at Hiroshima airport to attend the G7 leaders' summit in Hiroshima, Japan, on Thursday. Together with his wife Britta Ernst, German Chancellor Olaf Scholz boards an air force plane for his trip to Hiroshima and the G7 summit. The biggest challenge for the G7 leaders may be keeping that momentum going. Two of the biggest holders of that debt, Japan and Britain, will be at the table with Biden in Hiroshima.

☆ Here's why Rolex watches are so expensive and how the brand gained its luxury status
▼ + stars: | 2023-04-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

With their precision manufacturing, specially sourced materials, and exceptional craftsmanship, Rolex watches have never come cheap, but neither were they out of financial reach for 1960s working professionals in search of perfect timekeeping and technical innovation. "Back then, anybody could afford a Rolex," Hess told Insider. Dealers would buy luxury watches in Switzerland to carry across the border and sell in Italy. That reputation has helped Rolex crush the competition with a quarter of the luxury watch market — more than double that of runner-up Omega. "They all buy the little wannabe Rolex brands in the beginning and finally, when they achieve success, they buy that Rolex."

☆ Rolex is discontinuing its $9,300 'mad scientist' Milgauss watch — and now some resellers are listing it for over $13,000
▼ + stars: | 2023-03-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Rolex has quietly discontinued one of its professional watches, the magnetic field-resistant Milgauss. Bob's Watches CEO Paul Altieri told Insider he's holding off selling until prices find a new steady state. The original version was worn by the scientists at CERN, the European Organization for Nuclear Research, in Geneva, Rolex says. It even ranks near last place among the 16 Rolex models tracked on the site. Of course, Rolex could resurrect the Milgauss in a few years, but until it does, mad scientists will have to content themselves with a pre-owned model.

☆ This 26-year-old from Hong Kong is transforming a ‘dinosaur industry’ — one luxury watch at a time
▼ + stars: | 2023-03-24 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

As a young, avid collector of luxury watches, Austen Chu said he was scammed "many times" when he bought timepieces from the secondary watch market. Not only did his obsession with watches help him overcome those bad purchases, the experiences also propelled him to start his own consignment-based platform for luxury watches, Wristcheck. The luxury watch market is what calls a "dinosaur industry" that can be "intimidating" for the younger generation to get into, Chu said. WristcheckBy starting Wristcheck, Chu hoped to provide more transparency and accessibility to his peers. After all, Gen Z is projected to make up a third of the luxury market by 2030, due to a surge in wealth creation and the influence of social media.

☆ OnePlus just unveiled a new concept phone equipped with cryogenic liquid to keep it cool
▼ + stars: | 2023-02-27 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Chinese tech company OnePlus has unveiled a new concept phone at MWC 2023. The OnePlus 11 Concept boasts a new eye-catching cryogenic cooling system. The new OnePlus 11 Concept pairs PC-grade cooling technology with the design of high-end watches. Tasmin Lockwood/InsiderThere's no doubt that the OnePlus 11 Concept was designed to show off the system. The OnePlus 11 Concept has three camera lenses in the same style as other OnePlus 11 models.

☆ Want to beat the market? Go invest in a secondhand Rolex.
▼ + stars: | 2023-02-17 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Secondhand watch prices fell 8%, compared with the S&P 500's 19% drop and bitcoin's 65% crash. Rolex, Patek Philippe and Audemars Piguet are seen by watch lovers as the "Big Three" luxury makers, with a 70% market share. But prices for preowned timepieces fell slightly for all those brands in the last quarter of 2022, Morgan Stanley said. Secondhand Rolex prices slipped 5% over that three-month period, led by losses from the popular Daytona, GMT Master II, and Submariner models. "As these three brands account for around 70% of the secondary watch market, their price decline continued to weigh on the overall market."

☆ Swatch positive on recovery in luxury demand from China
▼ + stars: | 2023-01-24 | by ( John Revill | ) www.reuters.com time to read: +3 min

SummarySummary Companies Says January sales have exceeded January 2022Company now expects record sales for 2023Stock hits highest level since July 2021ZURICH, Jan 24 (Reuters) - Swatch Group (UHR.S) shares hit their highest level in nearly two-and-a-half years on Tuesday after the world's biggest watchmaker said it expected a recovery in luxury demand from China. The sales growth in January in China reinforces the Group's expectation to aim for a record year in 2023." The outlook sent Swatch's shares to their highest level since July 2021, and was the latest positive signal for the luxury sector at the start of the Chinese Year of the Rabbit. "To reach the record sales number of 2014 Swatch Group would need to have growth of 16% in 2023," said Patrik Schwendimann of Zuercher Kantonalbank. Europe's luxury sector($1 = 0.9192 Swiss francs)Reporting by John Revill; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Swatch Group positive about Chinese market recovery in 2023
▼ + stars: | 2023-01-24 | by ( John Revill | ) www.reuters.com time to read: +2 min

The sales growth in January in China reinforces the Group's expectation to aim for a record year in 2023." Rival Swiss luxury group Richemont last week said it was seeing a "strong retail rebound" in China in the run-up to the Chinese New Year. Swatch, which in July said targeted a double digit sales increase for 2022, said its sales in China fell by 700 million Swiss francs ($761 million) during the year. Overall sales increased by 2.5% to 7.499 billion Swiss francs or by 4.6% in constant currency terms, while net profit rose to 823 million francs from 774 million francs a year earlier. Aiming for a record year implies over 23% sales growth, which is a pretty big call by [CEO Nick]Hayek."

☆ Rolex watches have outperformed gold, real estate, and stocks over the past 10 years, and sellers believe their future value will continue to deliver
▼ + stars: | 2022-12-21 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Prices for luxury watches like Rolex, Patek Philippe, and Audemars Piguet skyrocketed in 2022. Demand for second-hand luxury watches will likely stay high next year, according to Chrono24 founder Tim Stracke. Around 14% of the platform's sales come from Rolex watches, and 80% of those are pre-owned. "The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches.

☆ Rolex is starting to sell officially certified used watches
▼ + stars: | 2022-12-05 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Rolex officially launched a program for certified pre-owned watches in December. Last week, the Swiss company launched a "Certified Pre-owned Programme" for watches that are at least three years old. Now, certified pre-owned watches will be minted with the brand's official insignia as well. Its aim is to bring added value to the existing supply of pre-owned Rolex watches. While prices for second-hand luxury watches have dropped considerably over the past few months, they haven't completely wiped out their pandemic gains.

Residents of the country's fourth-largest city were told to boil water Sunday after pump-driven water system pressure dropped because of an electrical outage, triggering concerns of possible contamination. "We believe the water is safe but based on regulatory requirements when pressure drops below 20 psi we are obligated to issue a boil water notice," Turner said. A power outage Sunday at the East Water Purification Plant caused pressure to drop below 20 psi, or pounds per square inch, the state threshold that triggers boil water notices, Houston Public Works said. Water system pressure can use the weight of liquid to occupy cracks and crevices that might otherwise be exposed to outside incursions, such as urban runoff. "Houston’s water system is different than other systems in that we don’t use water towers to provide pressure to the system," it tweeted.

☆ Crypto startup MoonPay hires Time president to lead its enterprise business
▼ + stars: | 2022-11-28 | by ( Riley De León | ) www.cnbc.com time to read: +7 min

In this article LTH Follow your favorite stocks CREATE FREE ACCOUNTKeith Grossman, Time president TIMEPieces Artist Jeremy CowartTime president Keith Grossman is leaving the legacy publisher to take on a new role as the president of enterprise at crypto startup MoonPay, effective December 31. Before his three-plus years at Time, Grossman had held leadership posts at major publishers including Bloomberg and Condé Nast-owned Wired. "I think it's important to separate a bad actor from an industry," Grossman said of the FTX fallout. Crypto's confidence crisisIn the 12 months since bitcoin topped out at over $68,000, the crypto industry, once valued at roughly $3 trillion, has fallen to around $900 billion. Enterprise adoption has been fueling this belief, with companies including Nike , McDonald's , Adidas and Starbucks launching their own NFT collections.

☆ Cambodian PM to give luxury watches as ASEAN summit souvenirs
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +3 min

[1/3] A view of the mechanism of a wristwatch intended as a souvenir for world leaders gathering at the ASEAN Cambodia 2022 summit, in this undated image obtained from social media on November 10, 2022. Hun Sen official Facebook page/via REUTERSPHNOM PENH, Nov 10 (Reuters) - Cambodian Prime Minister Hun Sen, an aficionado of luxury watches, will hand out intricate, locally made timepieces as souvenirs for world leaders at an international summit he is hosting this week. "These watches have been prepared and assembled by pure Cambodian technicians, which is part of scientific and technology and developments of Cambodia," Hun Sen wrote of the 25 limited-edition watches. While some Cambodians criticised the extravagance of the high-end gift, others praised Hun Sen for promoting the country's fledgling watchmaking ambitions. Sok Eysan, a spokesperson for Hun Sen's ruling Cambodian People's Party, said there was "nothing political or strange" about the watches.

☆ Insider Life: Airbnb for pools — Ritzy summer camp drama — Exclusive NY club
▼ + stars: | 2021-07-23 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +3 min

We spent a day at the exclusive members-only club, where the wealthy escape to homes starting at $2.7 million. Raquette Lake Camp; Tyler Hill Camp; Timber Lake Camp; Camp Modin; Samantha Lee/InsiderStressed-out parents at some of the country's fanciest summer camps are driving staff nuts over their kids' photos. Maximilian BüsserSwitzerland-born Maximilian Büsser left corporate jobs at large watch companies to start his own brand, MB&F. The luxury watch designer, who travels between Dubai and Geneva, is known for producing futuristic-looking timepieces inspired by characters like Captain Kirk, and that sell for up to $500,000. Inside the daily routine of a luxury watch brand founder.

☆ 9 countries where you can easily buy citizenship and how to do it
▼ + stars: | 2020-10-01 | by ( Taylor Borden | ) www.businessinsider.com time to read: +3 min

A number of countries in the Caribbean and Europe offer "Citizenship by Investment" programs, where the elite can invest in a country in exchange for citizenship. Among that ranking are a handful countries with "Citizenship by Investment" programs. Visa-free access to other countries was previously one of the main reasons for securing dual citizenship, but the coronavirus pandemic has rendered that reasoning "useless," according to Lesperance. That doesn't mean dual citizenship isn't worth it for "fire-escape plan" purposes. We've rounded up nine countries with "Citizenship by Investment" programs below, along with the minimum cost, the expected timeframe for the process, and how powerful the passport is.

☆ These are the watches worn by some of the most powerful businessmen and CEOs in the world
▼ + stars: | 2019-12-09 | by ( Frank Chaparro | Taylor Borden | ) www.businessinsider.com time to read: +1 min

For some businessmen, a wristwatch is more than a time-telling device. "In an unfamiliar city, I can approach a complete stranger and with two words eradicate any barriers: 'Nice watch.'" "A watch tells people about the type of person you are and what you value," Powell added. "The guy who wears a blinged-out gold-diamond Hublot is very different than the guy with a vintage stainless-steel Zenith chronograph." With the help of Crown & Caliber's team of experts, we've put together a list of wristwatches worn by the former and current CEOs of some of the world's most powerful companies.

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