The acquisition of Neiman Marcus Group by HBC, the parent company of Saks Fifth Avenue, for $2.65 billion has been announced. This merger will bring together two iconic luxury retailers and create Saks Global, which will encompass Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman. The CEO of HBC, Richard Baker, expressed
The landscape of sports ownership is evolving, especially in women’s soccer, as private equity firms are now taking a significant interest in major leagues. While leagues like MLS, NBA, MLB, and NHL have allowed passive investment from private equity investors, the National Women’s Soccer League (NWSL) stands out by permitting these firms to take majority
In a surprising turn of events, Patrick Bertoletti emerged victorious in this year’s Nathan’s Hot Dog Eating Contest, dethroning the long-reigning champion, Joey Chestnut. Bertoletti, a 39-year-old competitor from Illinois, devoured an impressive 58 hot dogs in a mere 10-minute time span, clinching the prestigious Mustard Yellow Belt in the men’s category. On the women’s
China is currently in discussions with the European Union regarding the planned tariffs for imported Chinese electric cars. The European Commission had previously stated that if talks did not progress favorably, additional duties on imported Chinese EVs would be implemented on July 4th. The Ministry of Commerce in China expressed their desire to come to
The market for initial public offerings in Hong Kong is expected to see significant improvements over the next five years, especially starting in the second half of this year, according to George Chan, global IPO leader at EY. Despite facing challenges such as high U.S. interest rates, regulatory scrutiny, slower economic growth, and U.S.-China tensions
In recent years, cybercriminals have been increasingly targeting wealthier individuals by exploiting their emotions through what is known as romance scams. These scams involve building a relationship with the victim, gaining their trust, and then persuading them to provide access to their financial accounts or even transfer money directly to the criminal. According to Tracy
The American Reshoring ETF (RSHO) is not just another exchange-traded fund; it is a bet on the potential resurgence of U.S. manufacturing jobs. With a focus on industrials, the CEO and founder of Tema ETFs, Maurits Pot, believes that the trend of reshoring and job creation is just beginning. The ETF was launched in May
Constellation Brands recently reported an earnings beat that was primarily fueled by the strength of its beer business. However, the company’s shares took a hit, falling 4% despite an initial upward movement. This disappointing performance can be attributed to ongoing concerns over the weakness in Constellation’s wines and spirits segment. Comparable net sales for the
Ford experienced a 1% increase in sales during the second quarter of the year compared to the same period last year. The key driver of this growth was a 5% increase in truck sales. The total truck sales, including pickups and vans, reached an impressive 308,920 vehicles, marking the company’s best second-quarter performance in this
As many retirees approach the age of withdrawing funds from their retirement savings, the topic of taxes becomes increasingly important. Surprisingly, only a small percentage of Americans have a concrete plan to reduce taxes on their retirement savings, according to a study conducted by Northwestern Mutual. This lack of preparation can lead to potential financial