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Klaus Bensmann is a tailor who has been handmaking leather lederhosen for the past 38 years. Bavarians have worn lederhosen — knee-long leather pants with suspenders and embroidery — for hundreds of years. Revelers preferring a more classic look book an appointment with leather tailor Klaus Bensmann for customized, handmade britches fashioned from deer or cow leather. AP Photo/Matthias SchraderBensmann offers different cuts of Bavarian lederhosen, traditional knee-longs, short ones that end mid-thigh, and longer, looser knickerbockers. But instead of working as a tanner, he decided to become a leather tailor, and in 1985 he opened his store and workshop, Leder Bensmann.
Persons: Klaus Bensmann, Bensmann's, Matthias Schrader Bensmann, Claus, Bensmann, Matthias Schrader, Leder, Lederhosen Organizations: Service, AP, Associated Press, Bavarian Locations: Munich, Wall, Silicon, Germany, Germany's, Bavaria, China, Bad, Bavarian, Austrian, Germany's Saxony, North Rhine – Westphalia, Canada, Hindelang
"We are making bold decisions to meet our commitments to our shareholders," Fraser, 56, said in a statement. The latest changes have already eliminated 35 committees, Fraser said, citing an example of efforts to reduce bureaucracy. Job cuts are expected, but the bank did not estimate the number of positions being eliminated or the financial impact, sources familiar with the matter said. "Investors are only going to give Citigroup credit for hard numbers meeting their goals," said Eric Compton, banking analyst at Morningstar. Citi is eliminating layers in former divisions Institutional Clients Group and Personal Banking and Wealth Management.
Persons: Jane Fraser, Fraser, Shahmir Khaliq, Andrew Morton, Peter Babej, Gonzalo Luchetti, Andy Sieg, Wells, JPMorgan Chase, Brian Mulberry, Eric Compton, Ernesto Cantu, Mark Mason, Tatiana Bautzer, Saeed Azhar, Medha Singh, Lananh Nguyen, Nick Zieminski, Jonathan Oatis Organizations: Citigroup, Citi, Bank of America, JPMorgan, Zacks Investment Management, Morningstar, Wealth Management, International, Thomson Locations: North America, New York
Hanji is traditional Korean paper made by hand one sheet at a time. Artisans turn the weblike fibers of paper mulberry trees into paper that can last more than a thousand years. The most expensive hanji costs over $20 per sheet. But despite hanji's quality, demand is in decline. And profits are dwindling for the few workshops left.
The company logo for Financial broker Charles Schwab is displayed at a location in the financial district in New York, U.S., March 20, 2023. The announcement led to a 5% fall in Schwab shares on Tuesday but did not hurt investor appetite for its new bonds. "The strong response shows bond investors, at least in the near term, have gotten over their worries about the credit fundamentals of top-tier regional banks after the banking crisis in March," said Richard Wolff, head of U.S. syndicate at Societe Generale (SOGN.PA). Schwab's bond trade also drew attention as new investment grade bond supply this month has so far been lower than expected. Counting Schwab's $2.35 billion in bonds, investment-grade bond volume sits at just $3.45 billion for the week and $67.1 billion so far in August, according to Informa Global Markets data.
Persons: Charles Schwab, Brendan McDermid, Schwab, Richard Wolff, Dan Krieter, Brian Mulberry, David Del Vecchio, Natalie Trevithick, Matt Tracy, Nupur Anand, Shankar Ramakrishnan, Sonali Paul Organizations: REUTERS, Societe Generale, BMO Capital, Zacks Investment Management, Federal Home Loan Bank, Payden, Informa, Thomson Locations: New York, U.S, Los Angeles
The shares eased 1.1% from a record high of $481.87 hit minutes after the market opened, crossing its previous peak of $480.88 on July 14. Reuters GraphicsThe company had in May forecast second-quarter revenue that was more than 50% above expectations. "To keep the stock price where it is, we would want to see bottom line start to support those share gains," said Brian Mulberry, client portfolio manager at Zacks Investment Management, which owns Nvidia shares. Nvidia shares have more than tripled in value so far this year. If Nvidia were to miss (expectations), this market would be in a world of pain," Dick said.
Persons: Ann Wang, Dennis Dick, Brian Mulberry, Goldman Sachs, Dick, Medha Singh, Amruta Khandekar, Anil D'Silva, Arun Koyyur Organizations: REUTERS, Nvidia, Wall, Triple D Trading, Reuters Graphics, Big Tech, Zacks Investment Management, Reuters, Thomson Locations: Taipei, Taiwan, Bengaluru
A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. Rising bets that Nvidia's revenue target will once again surpass Wall Street estimates have lifted the stock about 19% from a two-month low hit last week. That pushed its market capitalization above $1 trillion, making its stock the best performer on the S&P 500 index (.SPX). At least 19 brokerages have this month raised their target price on Nvidia, pushing the median view to $500, which is a 6.5% increase to the stock's last closing price. If Nvidia were to miss (expectations), this market would be in a world of pain," Dick said.
Persons: Ann Wang, Dennis Dick, Brian Mulberry, Goldman Sachs, Dick, Medha Singh, Amruta Khandekar, Gertrude Chavez, Dreyfuss, Anil D'Silva, Arun Koyyur, Lisa Shumaker Organizations: REUTERS, Nvidia, Dow, Nasdaq, Wall, Triple D Trading, Reuters Graphics, Big Tech, Zacks Investment Management, Reuters, Thomson Locations: Taipei, Taiwan, Bengaluru, Bengalaru, New York
“The history of Harlem churches is bound up with the history of cities and the changes that happen within the cities,” said Prof. Wallace Best, who teaches African American studies and religion at Princeton University and is writing a book on Black churches in Harlem. But the church will be unable to financially sustain itself and uphold its legacy of tending to the spiritual, political, and social needs of its community, without a dramatic uptick in its membership and donation flow. On any given Sunday, a few dozen or so churchgoers, primarily a mixture of older congregants and curious tourists, fill the pews. The First Sunday After Second-class TreatmentThe very first Sunday service of the church was held in 1796 in a cabinetmaker’s shop in Lower Manhattan on Cross Street, flanked by Orange and Mulberry Streets. A group of former slaves, dissatisfied with their second-class treatment in the predominantly white John Street Methodist Church, left to start Zion church under the leadership of its first bishop, James Varick.
Persons: , Wallace Best, paraders, Adam Clayton Powell Jr, James Varick Organizations: African, Princeton University, National Trust for Historic Preservation, The New York Times, Cross, John Street Methodist Church, John Street Methodist, Methodist Church, Episcopal Locations: Harlem, Lower Manhattan, Orange, Mulberry,
U.S. bank shares dropped on Tuesday after ratings agency Moody's downgraded credit ratings of several U.S. regional lenders and placed some banking giants on review for potential downgrade. It warned lenders will find it harder to make money as interest rates remain high, funding costs climb and a potential recession looms. The warning caught some investors off guard. On Tuesday, SPDR S&P Regional Banking ETF's (KRE.P) options-based 30-day implied volatility rose to 31.1%, up from 28.9% touched on Monday. "In the near term, there are reasons for caution about banks in general and we have made changes where appropriate," he said.
Persons: SPDR, Steve Sosnick, There's, David Wagner, David Smith, Brian Mulberry, Michelle Price, Diane Craft Organizations: Moody's Corporation, P Bank, Regional Banking, Silicon Valley Bank, Banking, Interactive, Alert, Aptus Capital, Autonomous Research, Analysts, Zacks Investment Management, Thomson Locations: Manhattan , New York, U.S, Silicon
As the economy proved more resilient than expected, and the US has avoided recession so far, the case for a 2023 recession has been crumbling. The stock market, which entered bull market territory just a few weeks ago, has shown little sign this year that the economy could be headed for a downturn. Still, the bond market tells a different story: The New York Federal Reserve’s recession probability model calculates the probability that the US will enter a recession in the next 12 months by tracking the spread of 3-month and 10-year Treasury yields. US stock market closes early at 1 p.m. Tuesday: US stock market closed for July Fourth.
Persons: Brian Moynihan, “ We’re, , David Grecsek, Jerome Powell, it’s, “ we’re, Russell, Outflows, Brian Mulberry, Tim Courtney, Courtney ., , Niño, Samantha Delouya, El Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Bank of America, CNN, Vanguard, JPMorgan Chase, Investors, Fed, Investment Company Institute, Zacks Investment Management, New, Federal Reserve Bank of San, Exencial Wealth, Oceanic, Atmospheric Administration, NOAA, PMI, Labor Locations: New York, Federal Reserve Bank of San Francisco, El
Insider: Let's talk about Benny Dugan, the salty, streetwise investigator who works with prosecutors for the Southern District of New York. And I would say, "What makes you think I'm a good person?" Insider: Correct me if I'm wrong, but don't all the good people get bought up by the end of the book? There are at least 57 FBIs — a New York FBI, a Saint Louis FBI, headquarters, the Washington Field Office. I don't think we've grappled with the implications of that, and whether it fits within our normal Fourth Amendment framework.
Persons: James Comey's, Benny Dugan, Dugan, Smith, , — relents, Donald Trump, Trump, Comey, Hillary Clinton, Steele, wasn't Comey, Long, Kenneth McCabe, Benny, Kenny, Nora, I've, John le Carré, that's shortsighted, Matt Parker, James Comey, I'm, You've, Martin Scorsese, they've, Mattathias Schwartz Organizations: Wesson, Trump —, FBI, Southern, of, Justice Department, Twitter, US, CIA, New York FBI, Saint Louis FBI, Washington Field Office, State Department, Justice, New Yorker Mafia, La Cosa Nostra, Cosa Nostra, FISA Locations: of New York, Washington, Brooklyn, New York, Manhattan
Alongside classic beach towns like Bodrum and Alaçatı, two of the coast’s loveliest spots are the little-known seaside town of Ayvalık and the nearby island of Cunda. Near the Taksiyarhis Memorial Museum, in a beautifully renovated historic house with large arched windows, is Moyy Atölye. For a truly Aegean dining experience inside an olive grove, Karina Ayvalık is worth the 10-minute drive south to the village of Küçükköy. “I can breathe in the Aegean air and feel history as I walk through the old streets with their historic houses. Getting lost on Cunda leads to discoveries – like the Cunda Taksiyarhis Rahmi M. Koç Museum inside a renovated Greek Orthodox church with a collection of antique cars, motorcycles and toys.
These Are the Best Pillows for Stomach Sleepers
  + stars: | 2023-05-03 | by ( ) www.wsj.com   time to read: +16 min
By Lisa LombardiIf you’re a stomach sleeper, you’ve likely shopped for squishy, soft pillows in the past. That’s why finding the ideal pillow for stomach sleepers can prove to be difficult. It cushioned my head without allowing it to collapse into the mattress, like some other soft pillows do. Best upgrade pillow for stomach sleepersCozy Earth Silk Pillow $224 at Cozy Earth $ 299 Save $ 75 Silk-filled with a breathable bamboo cover, this pillow is a luxe pick for stomach sleepers who tend to overheat while they sleep. This flexibility proves particularly helpful for stomach sleepers, since getting the right loft is important to avoiding neck discomfort.
This year, though, the social media ad market is expected to grow at a slightly faster pace than in 2022, according to a report last month from media and intelligence firm MAGNA. "Advertisers are simply going back to platforms they know, like and trust," said Brian Mulberry, a portfolio manager at Zacks Investment Management. The social media advertising market overall is expected to grow 6% this year to $66 billion, according to MAGNA. Last year, the social media ad market grew 2% in part because privacy updates by Apple Inc (AAPL.O) made it more difficult for advertisers to gather user data to serve targeted ads. Digital pinboard company Pinterest is expected to post a 3% year-over-year rise in quarterly revenue on Thursday, according to Refinitiv data.
The NYC park where Marjorie Taylor Greene is hosting a Trump rally used to be an open sewer. Collect Pond Park was then a blossoming new neighborhood, and later the center of a gang-filled slum. It took six years for the city to fill the hole that was once Collect Pond, according to the parks department. The area finally became a park in 1960Luciano Garbati's statue 'Medusa With The Head of Perseus' at Collect Pond Park on October 13, 2020. REUTERS/Brendan McDermidIt wasn't until 1960 that NYC's Board of Estimate gave the area Parks jurisdiction.
To compound the problem, British shoppers are themselves starting to spend more in the European Union, where they can also reclaim the value-added tax (VAT) charged on goods. OWN GOALBurberry BRBY.L, Britain's biggest luxury retail brand, warned last year that London was losing out to other European cities over the VAT rule. "That's why tax-free was so important for them, and now we are the only country in Europe that doesn't offer it." Cadogan, the main landlord in the west London districts of Chelsea and Knightsbridge, whose estate spans over 90 acres, also called on the government to act. He said he had not considered the VAT issue before, because he was generally spending his parents' money.
A 72-year-old woman was killed and two others were injured when a Denny’s restaurant sign in Kentucky fell from its post and crashed onto an occupied car below. Police responded to a Denny's on the 2000 block of North Mulberry Street in Elizabethtown around 1:30 p.m. Thursday on a report of the fallen sign. Photos show the sign on top of a blue vehicle, crushing in parts of the roof. An investigation into what caused the sign to fall is underway, but police said fierce winds likely contributed to the incident. Peak wind gusts of 45 to 55 mph were observed across parts of Kentucky on Thursday, the National Weather Service office in Louisville said.
VIEW U.S. consumer prices fall in December
  + stars: | 2023-01-12 | by ( ) www.reuters.com   time to read: +5 min
NEW YORK, Jan 12 (Reuters) - U.S consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and other goods, suggesting that inflation was now on a sustained downward trend. The consumer price index dipped 0.1% last month after gaining 0.1% in November, the Labor Department said on Thursday. MARKET REACTION:STOCKS: U.S. stock index futures fall after the inflation data BONDS: U.S. Treasury yields slid across the board. But I will note that it is an especially volatile period, which is not atypical for inflection points in market expectations and the broader macro outlook." BRIAN KLIMKE, INVESTMENT DIRECTOR, CETERA INVESTMENT MANAGEMENT LLC, LOS ANGELES"It (the report) came in as expected, but investors were somewhat optimistic leading into this reading, so that they were buying the rumor and selling the new.
Instant View: U.S. consumer prices fall in December
  + stars: | 2023-01-12 | by ( ) www.reuters.com   time to read: +5 min
NEW YORK, Jan 12 (Reuters) - U.S consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and other goods, suggesting that inflation was now on a sustained downward trend. The consumer price index dipped 0.1% last month after gaining 0.1% in November, the Labor Department said on Thursday. MARKET REACTION:STOCKS: U.S. stock index futures fall after the inflation dataBONDS: U.S. Treasury yields slid across the board.FOREX: The dollar fell against the euro and yen. But I will note that it is an especially volatile period, which is not atypical for inflection points in market expectations and the broader macro outlook." BRIAN KLIMKE, INVESTMENT DIRECTOR, CETERA INVESTMENT MANAGEMENT LLC, LOS ANGELES"It (the report) came in as expected, but investors were somewhat optimistic leading into this reading, so that they were buying the rumor and selling the new.
Dec 16 (Reuters) - Retail investors are doubling down on Exchange Traded Funds (ETFs) as rising interest rates and volatile markets curb their appetite for risky assets such as meme stocks, SPACs and cryptocurrencies. On average, retail investors' portfolios are down about 39% in 2022 after recording gains of 18% in 2021, JPMorgan analysts Peng Cheng and Emma Wu said. The investment trend, however, is leaning more toward ETFs tracking broader markets and away from the meme stock frenzy of 2021 that saw retail investors banding together on social media forums to fuel eye-popping gains in GameStop (GME.N), AMC (AMC.N) and others. Retail investors' average daily trading volume in U.S. stocks has amounted to $13.8 billion so far in 2022, compared with $14.2 billion a year earlier, which was the peak of meme stock trading frenzy, according to the report. Meanwhile, the U.S. Securities and Exchange Commission on Wednesday voted to propose some of the biggest changes to American equity market structure in nearly two decades, aimed at boosting transparency and fairness while increasing competition for individual investors' stock orders.
What is a white elephant gift exchange? A white elephant gift exchange — sometimes referred to as a Yankee swap — is a fun holiday activity in which everyone brings one wrapped gift and leaves with a different one. To help even the odds, most white elephant gift exchanges work best when all the gifts align in cost — typically within the $30-to-$75 range. What is a Secret Santa gift exchange? The best white elephant and Secret Santa gift ideasTo help you find the right gift for your white elephant and Secret Santa gift exchanges, we rounded up gift ideas based on our previous coverage and reader interest, all under $50.
Amid persistent inflation, investors have been nervously eyeing how consumer spending pans out during the crucial holiday season, when retailers make more than a third of their annual profits. The world's largest retailer by sales forecast holiday quarter U.S. same-store sales, excluding fuel, to increase about 3%, below estimates of a 3.4% increase. The company's comments follow those of FedEx and Amazon, which have also warned of muted holiday season demand in recent weeks. Home improvement chain Home Depot (HD.N) on Tuesday left its annual forecasts unchanged, adding to holiday season concerns amid a slowing housing market. read moreFor the full-year, Walmart forecast net sales to rise 5.5%, above its previous forecast of a 4.5% increase.
The company's share price has dropped by more than 15% since then. Amazon's third-quarter earnings disappointed investors on Thursday, sending the company's stock into a tailspin. What's Wall Street saying? Outcry over grueling and unsafe working conditions from employees has not tipped the scale for shareholders or Wall Street analysts. His firm holds Amazon stock.
Since his death more than 500 years ago, multihyphenate genius Leonardo da Vinci and his spectacular works have inspired respect and wonder in generation after generation the world over. “Likewise in painting, I can do everything possible as well as any other, whosoever he may be,” da Vinci offered, not incorrectly. Today, his engineering genius and the advancements it inspired are showcased at Milan’s Museo Nazionale Scienza e Tecnologia Leonardo da Vinci, the largest science museum in Italy. The museum’s Leonardo da Vinci Galleries, reimagined for the 2019 celebrations, use more than 170 historical models, artworks, codexes and installations to bring the artist’s story to life. Leonardo da Vinci's "The Last Supper" in the Santa Maria delle Grazie in Milan.
Exxon Mobil shares surge to record intraday high
  + stars: | 2022-10-21 | by ( Sabrina Valle | ) www.reuters.com   time to read: +3 min
HOUSTON, Oct 21 (Reuters) - Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer's cash flow and earnings outlook. The stock hit $105.95 early Friday, above the prior record high close of $104.59 from June 8. The strategy paid this year as an international oil supply crunch accelerated by sanctions against Russia made oil prices hit 14-highs. Oil profits allowed the company to erase the $21 billion it borrowed in 2020 to pay its bills and keep dividend distributions intact. Gas prices are rose to multi-year highs on European demand.
HOUSTON, Oct 21 (Reuters) - Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer's cash flow and earnings outlook. The stock hit $106.40 on Friday before closing at $105.86, above the prior record high close of $104.59 from June 8. The strategy paid this year as an international oil supply crunch accelerated by sanctions against Russia made oil prices hit 14-highs. For a time, utility operator NextEra Energy overtook Exxon as the U.S. energy company with the largest market cap. The year's profits are largely from high energy prices.
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