Superyacht sales experienced a significant decline in 2023 due to a variety of factors. According to the SuperYacht Times’ State of Yachting report, sales of new superyachts over 100 feet long dropped by 17% compared to the previous year. This decline can be attributed to long waiting lists, soaring costs, and sanctions placed on oligarchs.
Adidas shares rose by 8.2% on Wednesday following an announcement that the company had raised its full-year guidance unexpectedly. According to the German sportswear company, currency-neutral revenues are now expected to see a mid-to high-single-digit growth rate for the full year 2024. This is in comparison to the previous projection of growth near a mid-single-digit
Recent regional bank earnings have raised concerns regarding the stability and vulnerabilities of these financial institutions. Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp, has expressed worries about the reliance on industry deposits and concentrated exposure to commercial real estate. She also highlighted the potential instability of uninsured deposits, even for healthy
Investors in the K-pop sector have had a rocky start to the year with lower fourth-quarter sales, profit declines, and dating scandals affecting stock prices. However, despite these setbacks, Goldman Sachs expressed optimism for the industry in a recent report, claiming that the K-pop sector is often misunderstood. The report highlights the potential for a
United Airlines recently announced that it is cutting its aircraft-delivery expectations for the year in response to delays from Boeing. Originally, the airline had expected to receive 101 new narrow-body planes this year, but it has revised that number down to just 61. This change in plans is a result of the ongoing safety crisis
Federal Reserve Chair Jerome Powell recently addressed the state of the U.S. economy, emphasizing that while there has been solid growth and strength in the labor market, inflation has not returned to the central bank’s target of 2%. This poses a challenge for the Fed as they consider the possibility of interest rate cuts in
President Joe Biden and Vice President Kamala Harris recently released their annual tax returns, shedding light on their financial standing for the year 2023. The couples’ tax returns provide valuable lessons for average Americans, offering insights into income sources, tax liabilities, and potential strategies for tax optimization. Income Composition and Tax Obligations In 2023, both
The once-iconic shoemaker, Dr. Martens, saw its shares plummet by a staggering 30% as it delivered a grim 2025 outlook, fueled by dwindling revenues. The company’s prediction of a double-digit decline in wholesale revenue for the U.S. market in the upcoming year sent shockwaves through the industry. This revelation led to a temporary suspension of
TGI Fridays and Hostmore, the U.K. franchisee of the popular restaurant chain, made waves in the industry with their recent announcement of a merger. The all-share deal, valued at a staggering 177 million pounds or $220 million, is set to transform the landscape of the restaurant business. If finalized, TGI Fridays will become a publicly
The Biden administration recently unveiled a draft text of its much-anticipated student loan forgiveness proposal. This proposal has the potential to alleviate the burden of student loan debt for millions of borrowers, marking a significant step towards reforming the higher education system in the United States. Under the new plan, borrowers who are already eligible
