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☆ Portfolio manager: Path towards lower inflation in the U.S. will see a 'reversal' in 2025
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPortfolio manager: Path towards lower inflation in the U.S. will see a 'reversal' in 2025Deborah Cunningham of Federated Hermes says both U.S. administrations' policies will cause inflation to pick up. She sees most impact of increased volatility to be on short term bond yields.

Persons: Deborah Cunningham, Federated Hermes Organizations: Federated Locations: U.S

☆ Origins of humanity’s love of carbs revealed, new study suggests
▼ + stars: | 2024-10-18 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —The origin of modern humans’ long-standing love affair with carbs may predate our existence as a species, according to a new study. The study revealed these genes duplicated long before the advent of agriculture. Without amylase, humans would not be able to digest foods such as potatoes, pasta, rice or bread. The research also revealed duplication of the AMY1 gene existed in the genomes of Neanderthals and Denisovans, an extinct hominin first discovered in 2010 about whom relatively little is known. “This study’s genomic sleuthing is helping to finally time stamp some of those major milestones, and it is revealing tantalizing clues about humanity’s long love affair with starch.”

Persons: ”, Feyza Yilmaz, —, sapiens, AMY1, Taylor Hermes, wasn’t, ” Hermes, “, Christina Warinner, John L, Loeb, Warinner Organizations: CNN, The Jackson Laboratory, University of Buffalo, Jackson Laboratory, University of Arkansas, Social Sciences, Harvard University Locations: Farmington , Connecticut, New York

☆ DNA from 3,600-year-old cheese sequenced by scientists
▼ + stars: | 2024-09-25 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

A decade after the dairy discovery on strikingly intact remains mummified by the Taklamakan Desert’s arid conditions, scientists have extracted and sequenced DNA from the 3,600-year-old cheese, the oldest in the archaeological record. Fu is director of the ancient DNA laboratory at the Institute of Vertebrate Paleontology and Paleoanthropology in Beijing. The researchers recovered animal and microbe DNA from the kefir cheese discovered on the Tarim Basin mummies. Fu and her colleagues also sequenced the bacterial genes in the ancient kefir cheese, revealing insights into how probiotic bacteria evolved over the past 3,600 years. “Ancient DNA analysis, especially on microbes, is fraught with technical problems, mostly stemming from contamination by modern bacteria,” he added.

Persons: ”, Christina Warinner, John L, Loeb, Warinner wasn’t, Qiaomei Fu, Fu, Yang, it’s, Taylor Hermes, ” Hermes, Pichia kudriavzevii, kefir, we’ve, ” Fu, Hermes, Warinner, William Taylor, Taylor, wasn’t Organizations: CNN, Cell, Social Sciences, Harvard University, Vertebrate Paleontology, University of Arkansas, University of Colorado, school’s Locations: what’s, China, ”, Beijing, Tarim, China’s Xinjiang, Asia, Russia, Tibet, United States, Japan, Caucasus, Anatolia, University of Colorado Boulder

☆ Most luxury companies are struggling in China — except one
▼ + stars: | 2024-07-26 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

Read previewAs Chinese buyers eschewed local stores and poured into Japan this year in search of luxury bargains, one high-end powerhouse was an outlier. AdvertisementThe company's success in China comes as many of Hermès' industry peers saw China and Asia revenue sales tank from softening consumer demand. But most of Hermès' sales this year in China and Japan were largely from local customers, said Dumas. "Not very many foreigners buy Hermès in Japan, and the Chinese tend to buy in China." The luxury company reported overall sales revenue for the first half of the year of 7.5 billion euros, an increase of 12% compared to the same period in 2023.

Persons: —, Hèrmes, Hérmes, Axel Dumas, Burberry, Hermès, Dumas, Hermes Organizations: Service, Business, Hermès, Bloomberg Locations: Japan, Asia, China, Paris, Pacific, Europe, France

☆ The luxury outlook in China just keeps getting worse
▼ + stars: | 2024-07-25 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

Consumer spending in China has been improving "more moderately than before COVID-19," Luca Solca, a luxury goods analyst at Bernstein, told Business Insider. In its most recent quarter, Burberry's Chinese sales revenue declined 21% from last year. Massive discounts and online shoppingTo try to boost sales, luxury brands have given massive discounts to Chinese consumers. Luxury goods are still popular with wealthy Chinese shoppers — just not in China. Not all luxury brands are feeling the heat in China.

Persons: —, LVMH, Jean, Jacques Guiony, Luca Solca, Bernstein, Solca, Hugo Boss, Richemont, Cartier, Versace, Marc Jacobs, Damien Yeo, Yeo, TD Cowen, Guiony, Hermès Organizations: Service, Gucci, Business, Consumer, Swatch, Asia, Brands, Balenciaga, Bloomberg, Burberry, Fitch Solutions Locations: Asia, China, China , Hong Kong, Macau, Asia Pacific, Japan

☆ 4 Hermès Birkin collectors cracked the code to getting their hands on the coveted bag
▼ + stars: | 2024-04-18 | by ( Amanda Krause | ) www.businessinsider.com time to read: +12 min

But of course, Birkins, Kelly bags, and other Hermès pieces are nothing new. Jasmine Rasco and one of her Birkin bags. Richard Rodriguez/Stringer/Getty ImagesName: Tiffany MoonAdvertisementAge: 39Her first Birkin: Moon's first Birkin bag was a celebratory purchase. "I see these huge, palatial closets filled with lots of different Hermès bags. Why she loves them: The exclusivity factor plays a part in Millen's love for Hermès bags, but for her, it's about the quality.

Persons: Hermès, Birkin, Kelly, —, Thierry Hermès, Robert Dumas —, Émile Hermès —, He's, They're, Jasmine Rasco, Rasco, Sellier, Azalee, Roscoe, it's, I'm, Tiffany Moon, Richard Rodriguez, Stringer, Tiffany, Moon's, Birkin —, Dallas, We're, I've, Lydia Millen, Joe Giddens, Millen, who's, slouchy Birkin, they're, Tania Antonenkova, Antonenkova, she's Organizations: Service, Hermès, Business, Epsom, Housewives Locations: Birkins, Paris, Hermès, Togo, Texas, San Fransisco, San Francisco, London, Faubourg, Versailles

☆ Hermes lawsuit claims luxury retailer reserves its famed Birkin bags only for its biggest spenders
▼ + stars: | 2024-03-21 | by ( ) www.cnbc.com time to read: +1 min

Hermes is being targeted in a new lawsuit accusing the luxury retailer of selling its coveted Birkin handbags only to customers who have spent exorbitant amounts of money at the store on other goods. The handbags can only be purchased in a Hermes store, not on its website. However, the lawsuit claims that the average customer can't just walk into a Hermes store, find a Birkin on display and buy it. Rather, customers that are "deemed worthy" will be shown a Birkin in a private room. Hermes sales associates are tasked with choosing customers that are qualified to buy Birkins, according to the lawsuit.

Persons: Hermes, Birkin, Jennifer Lopez, Kim Kardashian Locations: San Francisco, France

☆ 13 signs your Hermès bag is a fake, from a luxury reseller who's trained to spot counterfeits
▼ + stars: | 2024-02-28 | by ( Robin Madell | ) www.businessinsider.com time to read: +9 min

Alexis Clarbour has been buying and selling Hermès bags for a decade and knows how to spot a fake. I took an operations role at an e-commerce marketplace called Portero, where my passion for luxury handbags, specifically Hermès bags, began. Under a loupe, the engraving may look chiseled and not as smooth as a genuine Hermès bag. Serial codeEvery Hermès bag has a serial code inside the bag. There are no deals — if someone offers a new Hermès bag below market in the secondary market, I'd recommend staying away.

Persons: Alexis Clarbour, authenticating, It's, Chanel, reselling, Hermès, —, we've, Kelly, Birkin, they've, it's, sloppily, there's, Le Duc, Price, I'd Organizations: Madison Avenue Couture, Nasdaq, MAC, Madison Avenue, Madison Locations: New York City, Hermès

☆ Why South Korea's Japan-style measures to boost its stock market may not work
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSouth Korea's Japan-style measures for improving corporate governance may not be enough to boost its undervalued stock markets and tackle the so-called "Korea discount." Asia's fourth-largest economy is striving to boost stock market valuations that are considered much lower compared to peers, with analysts referring to the phenomenon as the "Korea discount." The 'chaebol' problemSouth Korean markets are made up of corporations called "chaebols," which are large family-owned global conglomerates, typically controlled by the founder's family. "The behavior that leads to South Korea's low stock prices is motivated, and therefore seeking to coax South Korean controlling families into 'being nice' to minority stockholders is unlikely to be successful," Pines said.

Persons: SeongJoon Cho, James Lim, Jonathan Pines, Federated Hermes, Daniel Tan Organizations: Korea Exchange, Bloomberg, Getty Images Bloomberg, Getty, Financial, FSC, Samsung Electronics, LG, SK, Hyundai, Dalton Investments, Japan, Korean Stock Exchange, Federated, Grasshopper Asset Management, CNBC Locations: Seoul, South Korea, Japan, Korea, Tokyo, Asia, Singapore

☆ Hermes sales beat expectations, defying luxury sector gloom
▼ + stars: | 2023-10-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/2] A Hermes store sign is seen at a shopping mall in San Diego, California, U.S., November 23, 2022. "Despite an uncertain context, our outlook remains unchanged," Eric du Halgouet, Hermes executive vice president finance, told journalists, noting strong growth in the U.S. and Asia, including China. Sales in the Americas rose 20%, despite smaller price hikes than in other parts of the world, with even growth rates on both U.S. coasts, Hermes said. In Europe, sales grew 18.1%, with Du Halgouet noting no sign of a slowdown in tourist traffic in the region, and no slowdown in France, including in the first weeks of October. "We are attentive," said Du Halgouet, noting an uncertain geopolitical context could affect tourism.

Persons: Mike Blake, Birkin, bellwether, Hermes, Eric du Halgouet, Du Halgouet, Bernstein, Luca Solca, Mimosa Spencer, Ingrid Melander, Jan Harvey Organizations: REUTERS, Rights, U.S, Analysts, Thomson Locations: San Diego , California, U.S, Asia, China, Americas, Madison, New York, Europe, France, Japan

As Telefonica's rivals slashed prices to attract internet users, the Spanish company also borrowed to invest in new mobile and internet networks. But the secrecy with which STC (7010.SE) built its stake did catch some observers off guard, the person said. Telefonica said it was informed Tuesday about STC'S investment, after the companies had become more acquainted in recent months. STC sought to keep the stake under wraps until it could buy at least 9.9% of Telefonica, the person said. Middle Eastern investors have been taking stakes in Spanish companies for some time.

Persons: Violeta Santos Moura, Jose Maria Alvarez, Pallete, Alvarez, Prince Mohammed bin Salman's, UGT, Morgan Stanley, Linklaters, Motaz Al Angari, Al Angari, pare, EFG Hermes, Nadia Calvino, Inti Landauro, Tomas Cobos, Amy, Jo Crowley, Pablo Mayo, John O'Donnell, Anousha, Elisa Martinuzzi, David Gregorio, Ros Russell Organizations: Spanish Telecom, REUTERS, Rights, Telefonica, STC Group, STC, Saudi Arabia's Public Investment Fund, Foresight, Saudi, United Arab, Vodafone, Thomson Locations: Madrid, Spain, Rights DUBAI, MADRID, Silicon Valley, Saudi, Riyadh, Telefonica, Saudi Arabia, Spanish, Latin America, theocracies, United Arab Emirates, Iberdrola, Davos, Gulf, London

He learned Saudi Arabia's largest telecoms operator, STC Group, aimed to be Telefonica's biggest shareholder, with an interest of 9.9%. The move is a vote of confidence in Telefonica, burdened by billions of dollars in debt while STC gains expertise to modernize Saudi telecoms infrastructure. As Telefonica's rivals slashed prices to attract internet users, the Spanish company also borrowed to invest in new mobile and internet networks. STC sought to keep the stake under wraps until it could buy at least 9.9% of Telefonica, the person said. Middle Eastern investors have been taking stakes in Spanish companies for some time.

Persons: Violeta Santos Moura, Jose Maria Alvarez, Pallete, Alvarez, Prince Mohammed bin Salman's, UGT, Morgan Stanley, Linklaters, Motaz Al Angari, Al Angari, pare, EFG Hermes, Inti Landauro, Tomas Cobos, Amy, Jo Crowley, Pablo Mayo, John O'Donnell, Anousha, Elisa Martinuzzi, David Gregorio Our Organizations: Spanish Telecom, REUTERS, Rights, Telefonica, STC Group, STC, Saudi Arabia's Public Investment Fund, Foresight, Saudi, United Arab, Vodafone, Thomson Locations: Madrid, Spain, Rights DUBAI, MADRID, Silicon Valley, Saudi, Riyadh, Telefonica, Saudi Arabia, Spanish, Latin America, theocracies, United Arab Emirates, Iberdrola, Davos, Gulf, London

Representatives for Hermes and Rothschild did not immediately respond to requests for comment on the decision. Hermes said in a filing in March that Rothschild continued to market his NFTs after the jury's verdict. Rothschild told the court that Hermes' request went "far beyond what is appropriate in a case, like this one, that involves artistic expression." Rakoff largely granted Hermes' request, but decided not to order Rothschild to transfer the tokens out of an "abundance of caution" for 1st Amendment concerns. The case is Hermes International v. Rothschild, U.S. District Court for the Southern District of New York, No.

Persons: Hermes, Mason Rothschild's, Birkin, Jed Rakoff, Rothschild's, Rakoff, Rothschild, Sonny Estival, Gerald Ferguson, Deborah Wilcox, Oren Warshavsky, Rhett Millsaps, Christopher Sprigman, Mark McKenna, Rebecca Tushnet, Lex Lumina, Jonathan Harris, Adam Oppenheim, Harris St, Laurent, Wechsler Read, Blake Brittain Organizations: Hermes, Constitution, . Rothschild, Southern, of, Baker, Hostetler, Thomson Locations: Manhattan, U.S, . Rothschild , U.S, of New York, Washington

☆ Bolivia takes control of Banco Fassil, executives arrested
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

LA PAZ, April 26 (Reuters) - Bolivia's government took control of one of the country's largest banks, Banco Fassil, a senior government financial official said on Wednesday, and police arrested several executives for alleged mismanagement. "Mismanagement, unhealthy practices have caused a crisis," the executive director of Bolivia's Financial System Supervision Authority (ASFI), Reynaldo Yujra, told reporters in the city of Santa Cruz. Dozens of police were stationed at Banco Fassil's 185 branches across Bolivia on Wednesday, authorities said. Banco Fassil President Ricardo Mertens, General Manager Jorge Arturo Chávez and another executive, Hernan Suarez, were arrested late Tuesday, while a fourth, Hermes Saucedo, turned himself in early Wednesday morning, according to the Santa Cruz attorney general's office. "The financial system in general is in good health.

☆ The World Is Volatile but Luxury Brands Look Serene
▼ + stars: | 2023-04-15 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Hermès is among the three luxury-goods companies that together snagged the majority of incremental revenue in 2022. In a world coping with inflation, war and bank runs, it seems counterintuitive that demand for luxury is still running hot. Yet in recent days, two big designer brands reported bumper first-quarter sales. Paris-listed Hermès said its revenue grew 23% from a year earlier in the three months through March, ahead of the 13% analysts were expecting. At LVMH Moët Hennessy Louis Vuitton—owned by Bernard Arnault , the world’s wealthiest person—sales grew 17% in the same period.

☆ The 'mammoth meatball' grown in a lab probably doesn't taste like woolly mammoth at all
▼ + stars: | 2023-04-11 | by ( Morgan Mcfall-Johnsen | Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

It probably doesn't taste like woolly mammoth, a meat specialist and mammoth DNA researcher said. The Belgian startup Paleo says it added woolly mammoth myoglobin to a plant-based burger. The mammoth meatball doesn't have either of those elements from woolly mammoth. Mammoth myoglobin doesn't necessarily bring mammoth flavorThough he didn't taste it, Ryall said everyone could smell the meatball while it was cooking. So why make a mammoth meatball that doesn't taste like mammoth?

☆ A company says it added mammoth DNA to plant-based burgers and that they tasted much more 'intense' and 'meatier' than the cow version
▼ + stars: | 2023-04-07 | by ( Kelsey Vlamis | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

A Belgian startup says it added woolly mammoth DNA to a plant-based burger. The mammoth myoglobin gave it a more intense taste and aroma, and a richer color, the CEO said. But it's unclear when, if ever, mammoth protein will make it to grocery store shelves. The Belgian startup Paleo says it added woolly mammoth protein to a plant-based burger — and that the result was more intense than with cow. Sanctorum said the company added the mammoth protein to several different versions of plant-based burgers and tasted it.

Hermes said in a court filing Friday that Rothschild has continued to market his NFTs despite the jury's verdict last month. Rothschild's attorney Rhett Millsaps said they will oppose Hermes' motion in court filings this week. Hermes sued Rothschild last year over his MetaBirkins, 100 NFTs associated with images depicting the bags covered in colorful fur. "Rothschild has continued acting as he has since November 2021 — brazenly violating Hermès's intellectual property rights," Hermes said. The case is Hermes International v. Rothschild, U.S. District Court for the Southern District of New York, No.

☆ This startup is using precision fermentation to make plant-based food taste better. Check out the 10-slide pitch deck Paleo used to secure $12.8 million.
▼ + stars: | 2023-02-21 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Belgian startup Paleo just raised $12.8 million to make plant-based food taste better. A European foodtech startup cofounded by a former Belgian senator has just raised 12 million euros (around $12.8 million) to make plant-based food taste better. The proteins are a form of heme, which has been deemed key in unlocking a meaty look, taste, texture, and aroma for plant-based food. Paleo will sell its products to other plant-based food companies so they don't have to develop it in-house. "The main challenge now in the plant-based food space, it's taste, and that's exactly where we offer a solution," he said.

☆ Wall St Week Ahead U.S. investors hunt for gains in foreign stocks
▼ + stars: | 2023-01-13 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Europe's STOXX 600 index (.STOXX) has gained some 17% since the end of the third quarter, versus 11% for the U.S. benchmark S&P 500. MSCI's gauge of global stocks excluding the U.S. has risen more than 20% over that time. The firm last month rotated more into international equities as it increased its overall stock exposure, de Longis said. US vs European stock performanceInternational stocks were recently touted by investor Jeffrey Gundlach of DoubleLine Capital and BofA Global Research, which projected global stocks would "crush" their U.S peers in 2023. Buying international stocks could be a "complement" to the opportunity domestically, said Mona Mahajan, senior investment strategist at Edward Jones.

☆ Hermès Sales Rise as Demand for Luxury Goods Defies Price Hikes
▼ + stars: | 2022-10-20 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

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☆ Hermes plans big price rises, says no sign of slowdown
▼ + stars: | 2022-10-20 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

"We will probably have price hikes between 5 and 10 percent," Hermes executive vice president of finance Eric du Halgouet told reporters on Thursday, blaming increased costs and currency movements. Hermes, which has waiting lists for its prized $10,000-plus handbags and limits production to maintain exclusivity, increased prices by around 4% this year and by 1.5-2% on average in previous years. That compares with double-digit price hikes at Chanel. "For the moment, we don't see any sign of slowdown in any of our markets,” said du Halgouet. The Hermes figures suggest that "high-end global luxury goods demand has yet to normalise," said Luca Solca, analyst at Bernstein.

☆ BoE quantitative tightening likely to be delayed until later this year -fund manager
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 11 (Reuters) - The Bank of England should consider giving markets "some comfort" around its quantitative tightening timetable, and will likely push back the long-anticipated policy change until later this year, a portfolio manager at U.S.-based investment manager Federated Hermes said on Tuesday. Orla Garvey, senior fixed income portfolio manager at Federated Hermes, said the central bank's quantitative tightening (QT), which is set to start on Oct. 31, was likely to be delayed until later this year. QT is a monetary policy used to shrink central bank balance sheets. "There are a lot of risk events coming that could impact market stability in the next few weeks, with the OBR report scheduled at the end of the month, and multiple central bank meetings," Garvey, referring to the Office for Budget Responsibility report due Nov. 23, said in a statement supplied to Reuters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sinead Cruise and Muvija M; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ DOC/ Salariile și achizițiile adjuncților procurorului general al R. Moldova în anul 2020
▼ + stars: | 2021-04-06 | by ( Milena Onisim | ) www.zdg.md time to read: +6 min

Ziarul de Gardă a analizat declarațiile de avere și interese personale ale acestora pentru anul 2020 și vă prezintă cele mai relevante informații. Tot în anul 2020, Ruslan Popov a obținut o remunerare de 26 977,64 lei de la centrul Internațional „La strada”. Acesta este debitorul unei datorii contractate în anul 2020, în valoare de 8010 lei, a cărei scadență este anul 2021. Tot în anul 2020, Roșioru a obținut venituri din activitatea didactică, științifică și de creație. În luna decembrie a anului 2019, Popov a fost numit în funcția de adjunct al procurorului general, Alexandru Stoianoglo.

Persons: Ruslan Popov, Mircea Roșioru, Iurie Perevoznic, ., Alexandru, Popov, Hermes SA, Iulia Popov, Ion, Oprea, Moldova Ruslan Popov, Alexandru Stoianoglo, Roșioru Organizations: Universitatea de Stat, Justiției, Hyundai, Santa, Națională de Asigurări Sociale, Hyundai Santa, Hermes, Opel Astra, Procuraturii, Consiliului Superior, Procuratura Locations: . Moldova, Moldova, Ialoveni, Santa FE, FE, Hyundai Santa FE, Roșioru, S.A ., Procuratura Leova, Chişinău

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