DIRS.INFO The most relevant business & tech news

☆ From 'Barbie' to Formula 1, TAG Heuer is making its mark on the luxury watch market
▼ + stars: | 2023-07-12 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

It plans to more than double its boutiques in the U.S. to 50 by 2026, according to TAG Heuer CEO Frédéric Arnault. Frédéric Arnault, CEO of TAG Heuer. Arnault said TAG Heuer is making strides due in part to marketing wins and new products, such as the new TAG Heuer Monaco Chronograph with a skeleton dial worn by Verstappen, which clocks in at more than $10,000. Gosling has been sporting a 36mm TAG Heuer Carrera with a bright pink dial as part of his promotion of the new "Barbie" movie. Arnault said "Barbie" fans can expect to see other TAG Heuer watches in the film as well.

Persons: Frédéric, Bernard Arnault, Arnault, Max Verstappen, Sergio Perez, Frédéric Arnault, LVMH, Fred, Louis Vuitton, Bulgari, Philippe Nautilus, Ryan Gosling, Gosling, Barbie, Ryan Organizations: LVMH, TAG, TAG Heuer, CNBC, Oracle Red Bull Racing, Monaco, CNBC TAG, Zenith, Carrera Locations: U.S

☆ BMW taps abstract artist Julie Mehretu to paint its latest Art Car
▼ + stars: | 2023-06-29 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Now, Ethiopian American artist Julie Mehretu, known for her work in abstract painting, has been chosen to create the company’s next Art Car. The first BMW Art Car was painted in 1975 by the American sculptor Alexander Calder after French racing driver Hervé Poulain brought the idea to BMW. The first woman to take on a BMW Art Car was South African artist Esther Mahlangu, who in 1991 painted a 525i sedan. Esther Mahlangu's Art Car featured the bold colors and geometric patterns used in the traditional arts and crafts of the Southern Ndebele people. Enes Kucevic/BMWMehretu’s will be the 20th BMW Art Car.

Persons: Andy Warhol, Jeff Koons, Jenny Holzer, Robert Rauschenberg, Julie Mehretu, Alexander Calder, Hervé Poulain, Poulain, Calder, Roy Lichtenstein, Warhol, Esther Mahlangu, Holzer, Esther Mahlangu's, Enes, Marian Goodman, Josefina Santos, BMW Mehretu, Madeleine Grynsztejn, ”, Julie, ” Grynsztejn, ” Mehretu, I've, ” Julian Kroehl, City’s Solomon R, hasn’t, Mehretu, “ Organizations: CNN, BMW, Ethiopian, Le, CSL, BMW Le, Fine Arts, Rhode Island School of Design, MacArthur, US Department of State, of, Pritzker, Museum of Contemporary Art Chicago, Daytona, Guggenheim Museum Locations: Ethiopian American, American, African, Southern, Addis Ababa, Ethiopia, United States, New York, Daytona Beach , Florida, New

☆ The global economy is slowing down. Just look at the luxury watch market.
▼ + stars: | 2023-06-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Prices for luxury watch brands like Rolex and Patek Philippe have fallen near two-year lows on secondary markets. Bloomberg's Subdial Watch Index has dropped about 19% in the last 12 months. Bloomberg's Subdial Watch Index, which tracks the 50 most-traded pre-owned watches, has fallen roughly 19% over the last 12 months. Meanwhile, the Patek Philippe Nautilus Travel Time has fallen 28%, and the Rolex Daytona 116506 has dropped 25%. President Joe Biden reiterated this week that he doesn't anticipate a recession, but Wall Street firms aren't so sure.

Persons: Patek Philippe, —, Philippe, Jerome Powell, Joe Biden, Michael Gapen Organizations: Rolex, Service, Bloomberg, Philippe Nautilus, Federal Reserve, JPMorgan, Bank, America's

☆ Rolex certified pre-owned watches cost 25% more on average than those from traditional resellers
▼ + stars: | 2023-06-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Rolex last month expanded its certified pre-owned watch program from Europe to the US. Every model except the Daytona is at least 17% more expensive on average when certified by the Crown. Used watches that have the official stamp from Rolex currently command a 25% higher price on average across the portfolio, according to data from WatchCharts, a price-tracking platform for luxury watches. The CPO markup does not apply uniformly across all models, however: more popular watches appear to have a lower relative increase than less popular ones. With extremely constrained supplies of new watches and yearslong waitlists for certain models, the CPO program is essentially the only way to buy a Rolex on-demand from an authorized dealer.

Persons: — Organizations: Rolex, Crown, Service, CPO Locations: Europe, WatchCharts

☆ Paul Newman: Hundreds of Hollywood star's items to go on sale in Sotheby's auction
▼ + stars: | 2023-06-01 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

Several watches are being sold as part of the auction. “My parents shared a passion for antiques and vintage items, the quirkier the better,” their daughter Melissa Newman said in a Sotheby’s auction catalog. The couple’s personalities also emerge in some of the more unusual furniture showcased in the auction. “Dad loved to pull pranks on his friends,” his daughter Clea Newman said a Sotheby’s auction catalog. “One of his favorite bits was making everyone who arrived late sit on the pig bench for their meeting.

Persons: Paul Newman, Joanne Woodward, Richard Nixon’s, Newman –, George H.W, George H.W . Bush, Bill Clinton, “, Melissa Newman, It’s, ” Newman, Sotheby's Newman, Luke, ”, Woodward, Eve ”, Joanne ”, Newman, –, “ Dad, Clea Newman Organizations: CNN, Rolex Locations: Hollywood, Washington, George H.W .

☆ Indy500: How to watch ‘the biggest sporting event in the world’ where Katherine Legge will be the only woman on the start line
▼ + stars: | 2023-05-28 | by ( Thomas Schlachter Don Riddell | Thomas Schlachter | Don Riddell | ) edition.cnn.com time to read: +7 min

After two weeks of testing, practice and qualifying, the drivers are now ready to start their engines and step on the gas ahead of the 2023 Indy 500. “It is the biggest sporting event in the world, right?” British driver Katherine Legge told CNN Sport’s Don Riddell. Katherine Legge is taking part in her third Indy 500 this weekend. Darron Cummings/APHow to watchHeld on Sunday May 28, the Indy 500 is broadcast live from 9:00 a.m. Legge called the achievement “awesome.”The driver set an incredible average speed of 231.07 miles per hour when racing for the Rahal Letterman Lanigan Racing team.

☆ A Stunning Comeback for Fernando Alonso in Formula 1
▼ + stars: | 2023-05-18 | by ( Ian Parkes | ) www.nytimes.com time to read: +1 min

In 2018, after 17 seasons of dedicating his life to Formula 1, Fernando Alonso had enough. With two world titles and 32 Grand Prix victories, he walked away, albeit unfulfilled. “Now, I’m proving I’m still fast, at whatever age — that’s part of the comeback story. Despite his strong start this season, it has been 10 years since Alonso, 41, last won a Grand Prix. Max Verstappen of Red Bull, the reigning two-time champion who leads this year’s title race, would like to see Alonso win again.

☆ A discontinued Rolex just sold at auction for a record-breaking $2.5 million — the winning buyer reportedly was the watchmaker
▼ + stars: | 2023-05-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

A rare Rolex Milgauss "mad scientist" watch sold at auction for $2.5 million. The winning buyer purchased the timepiece on behalf of Rolex itself, sources told Bloomberg. Phillips in Association with Bacs & RussoThe winning buyer was acting on behalf of Rolex itself, sources told Bloomberg. Earlier this year, the Swiss brand quietly discontinued production of the Milgauss, known to many as Rolex's "mad scientist" watch for its magnetic interference-resistant design. The world record auction price for any wrist watch remains $17.8 million in 2017 for Paul Newman's very own Daytona Reference 6239.

☆ Disney's Bob Iger taunts Florida with an ominous threat: 'Does the state want us to invest more, employ more, and pay more taxes — or not?'
▼ + stars: | 2023-05-10 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Last month, Disney sued Florida Governor Ron DeSantis, escalating a war that's gone on for over a year. Iger threatened DeSantis, asking the governor if he wanted Disney to "pay more taxes or not." Disney's feud with Florida Governor Ron DeSantis has gone from bitter to downright acrimonious in recent months. "One question: Does the state want us to invest more, employ more people, and pay more taxes — or not?" "We've built a business that employs, as we've said before, over 75,000 people and attracts tens of millions of people to the state," Iger said.

☆ Iger hammers Florida 'retaliation' on Disney's earnings call
▼ + stars: | 2023-05-10 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

The Walt Disney Company isn't the only business in Florida that operates within a special district, CEO Bob Iger reminded investors Wednesday. "The case that we filed last month made our position and the facts very clear," he said during an earnings call. Disney's amended lawsuit also noted that Florida's Republican-led Legislature passed legislation last week targeting Walt Disney World's monorail system. He said the company is the largest taxpayer in central Florida, having paid more than $1.1 billion in state and local taxes last year. "So this is plainly a matter of retaliation while the rest of the Florida special districts continue operating basically as they were."

☆ Ferrari profit jumps 24% as demand pushes waiting list into 2025
▼ + stars: | 2023-05-04 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +3 min

Here are the key numbers from Ferrari's first-quarter earnings report, compared with Wall Street analysts' consensus expectations as reported by Refinitiv:Earnings per share: 1.63 euros, vs. 1.48 euros expected. 1.63 euros, vs. 1.48 euros expected. Revenue: 1.43 billion euros, vs. 1.39 billion euros expected. Revenue increased 20% year over year, to 1.43 billion euros from 1.19 billion euros in the first quarter of 2022. It still expects revenue of about 5.7 billion euros in 2023, with adjusted earnings per share between 6 euros and 6.20 euros.

☆ The top 10 buzziest companies Gen Z wants to work for—none of them are in Big Tech, says new report
▼ + stars: | 2023-05-01 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +5 min

The graduating class of 2023's desire for stability in an uncertain economy is dictating where they want to work most after college. It's hard to escape unrelenting news of tech layoffs in recent months, including major staff cuts from Meta, Google, Amazon, Microsoft and many others. "They're gravitating toward companies that offer solid benefits, career pathing and a level of stability they've been looking for." Most young professionals plan to pick up new tech skills for their careersThough search interest for major tech companies dropped, Cruzvergara says today's grads are more likely than their predecessors to be interested in jobs that require tech skills. New college grads feel confident they have the skills they need to get the job they want but also plan to develop new tech skills on the job or after hours.

☆ Opinion | Who’s to Blame for a Million Deaths?
▼ + stars: | 2023-04-26 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +2 min

“Something clearly went wrong,” Anthony Fauci told me, reflecting on the long pandemic, in an interview for The New York Times Magazine. It was those who forced essential workers to stay on the job and those who kept ordering delivery from them. It was those who cut the line to get vaccinated, then those who didn’t get vaccinated, then those who stopped wearing masks once they did. It was the unvaccinated and it was Joe Biden saying “pandemic of the unvaccinated.” It was the C.D.C. And it was those people who kept annoyingly insisting that the pandemic wasn’t over, when, in truth, well, it both was and wasn’t.

☆ Demand for luxury watches shows no sign of fading, says Audemars Piguet CEO
▼ + stars: | 2023-04-13 | by ( Robert Frank | ) www.cnbc.com time to read: +7 min

watch nowThe luxury watch market is well-positioned to avoid a crash as tight supply and a new generation of young collectors drive demand, according to the CEO of Audemars Piguet. With demand for watches outpacing supply of new inventory, prices for pre-owned watches have skyrocketed, along with online sites like Chrono24, Watchfinder and Watchbox that buy and sell pre-owned watches. A pre-owned Audemars Piguet Royal Oak "Jumbo" that retails new for $35,000 is currently listed on Chrono24 for $115,000. Audemars Piguet produced only 50,000 watches last year and is expected to produce about 51,000 this year, Bennahmias said. Source: Audemars PiguetAudemars is now celebrating the 30th anniversary of its popular Royal Oak Offshore model, a larger version of its signature Royal Oak.

☆ Fintech has a fraud problem, and the onus is on you to figure it out
▼ + stars: | 2023-03-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Fintech's fraud misfortune. Which brings us to a story by Insider's Bianca Chan and Paige Hagy about concerns over the prevalence of fraud within consumer-facing fintechs in recent years. Click here to read more about fintech's fraud problem. We've also got the deck StellarFi, a fintech that helps users improve their credit score, used to raise $15 million. For more than 50 different decks used by fintechs to raise fresh funds, check out our library.

☆ Paul Newman Rolex Daytonas, Found in a Desk, Could Sell for Millions
▼ + stars: | 2023-03-28 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

Paul Newman’s Rolex reference 16520 ‘Zenith’ Daytona is one of two watches found at his estate that are heading to auction in June. Years ago, Nell Newman was rooting around for a pencil in the Connecticut home office of her late father, the actor Paul Newman, when she unearthed two horological treasures: a pair of Rolex Daytona watches worn by Newman in his latter years. “There they were with his driver’s license,” said Ms. Newman. “They were just in a box on his desk.”

☆ 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.

☆ Rolex just released its 2023 watch collection. See the platinum 60th-anniversary Daytona and 8 other new designs which are likely to have years-long wait lists.
▼ + stars: | 2023-03-28 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: 1 min

The other, known as the Rolesor, is a combination of gold and steel. This one is made from a combination of Rolex's proprietary Oystersteel alloy, and yellow gold. RolexSource: Rolex

REUTERS/Rebecca Cook/File PhotoMarch 6 (Reuters) - American carmakers will lean on technology to keep the horsepower wars going among their electric muscle cars, a tectonic shift from the big, rumbling motors of the past. GM and Dodge have both issued timelines to stop selling gas-powered muscle cars and replace them with electric variants that will wear the same badges. Dodge's Charger and Challenger muscle cars will not be made next year, while Chevrolet has laid out plans for an electric Corvette. Brands such as Polestar and Mercedes-Benz (MBGn.DE) have announced optional power upgrades to their sedans that improve acceleration and total horsepower via paid OTA (over-the-air) software updates. Dodge has said it will transition its muscle cars to an electric platform, and is working to differentiate those models.

☆ Fact Check-Video does not show meteor in Mission, Texas
▼ + stars: | 2023-02-22 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

A video showing a luminous object shooting across the sky was filmed in Daytona Beach, Florida. It is unrelated to reports of a meteor crashing in Texas on Feb. 15, contrary to claims on social media. in a 10 mile radius.”Reuters identified the location of the recording in Daytona Beach. Two experts ruled out the object seen is a meteor. More information about the meteor near Mission, Texas, published by CBS Media, The Dallas Morning News and CNN can be seen (bit.ly/3Ibjgpf) (bit.ly/41i4t5d) (bit.ly/3lBdzcC).

☆ Here are the US cities where home prices are actually falling
▼ + stars: | 2023-02-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

San Jose, California, was the most expensive place to purchase a home in the United States in the fourth quarter. Prices for San Francisco homes are already down 21% in the fourth quarter from the peak median price of $1,550,000 in the second quarter. Among the most expensive cities that saw prices falling are Anaheim, California, with the median price of $1,132,000, down 1.6% from a year ago; Los Angeles, with the median price of $829,100, down 1.3%; and Boulder, Colorado, with the median price of $759,500, down 2.0%. Other places with falling prices saw the big price increases during the frenzied home buying market of the past few years. Instead, prices for single-family homes climbed in nearly 90% of metro areas tracked by NAR in the fourth quarter: 166 markets out of 186 saw prices still going up.

☆ 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."

The 65th annual Daytona 500 will air live on Fox, starting at 2:30 p.m. The Daytona 500 is NASCAR's most popular race of the year, helping launch each new season. Nicknamed The Great American Race, the Daytona 500 was first held in 1959 and has served as the opening event of the NASCAR season since 1982. How to watch the Daytona 500You can watch the Daytona 500 on Fox at 2:30 p.m. The 2023 Daytona 500 starting lineup includes 40 drivers:

☆ Why now may be a good time to buy a used Rolex — if you plan to keep it
▼ + stars: | 2023-02-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Prices for pre-owned Rolex watches have been on the slide for almost a year after posting record highs. The biggest reason for the price decline, analysts say, was a surge of additional watches to the market. Watch prices quickly followed suit, entering a months-long decline that is only now beginning to show signs of leveling off. But the tumbling price of used luxury watches like Rolex, Audemars Piguet, and Patek Philippe can also be explained by a simple economics principle: supply arriving to meet demand. "The price correction was mainly driven by the increase in supply," wrote Morgan Stanley equity analyst Edouard Aubin and colleagues.

☆ Ferrari's profits jump 13% in 2022, supercar maker expects an even better year in 2023
▼ + stars: | 2023-02-02 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Here are the key numbers from the fourth-quarter earnings report:Earnings per share: 1.21 euros, versus 1.16 euros in the fourth quarter of 2021. 1.21 euros, versus 1.16 euros in the fourth quarter of 2021. Revenue: 1.368 billion euros, versus 1.172 billion euros in the year-ago quarter. For the full year, Ferrari earned 939 million euros, or 5.09 euros per share, on revenue of 5.095 billion euros. Despite the strong results, Ferrari's fourth-quarter operating margin slipped to 21.8% from 22.6% in the year-ago period.

Search resuls for: "Daytona"

25 mentions found