Business

Kenzo channels preppy, Celine goes for razzmatazz in Paris

PARIS (AP) — Kenzo’s designer, Nigo, found his groove for his sophomore collection at the LVMH-owned house, drawing vibrant parallels with house founder Kenzo Takada. Nigo has made history as the first Japanese designer to front the house since Takada, who died in 2020. But beyond the fashion, Nigo — who has made high profile …

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Just keep your returns: Stores weigh paying you not to bring back unwanted items

In recent weeks, some of the biggest store chains, including Target (TGT), walmart, (WMT) gap (GPS), American Eagle Outfitters (AEO) and others have reported in their latest earnings calls that they have too much inventory of stuff ranging from workout clothes, spring-time jackets and hoodies to garden furniture and bulky kids’ toys. It’s costing them …

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JPMorgan, Bank of America and Citi may need to cut buybacks after stress test

The biggest American banks may have to hit the brakes on capital return to shareholders because of regulators’ annual stress test, according to Morgan Stanley analysts led by Betsy Graseck. Analyst reaction to the Federal Reserve stress test results released late Thursday focused on an unexpected increase in the stress capital buffers of banks including …

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Oil CEOs call for ‘tone shift’ from White House on finger-pointing over gas prices

CNN — The oil industry pushed for an easing of tensions and a dialing back of finger-pointing from the White House during a Thursday meeting with the Energy Department as high gas prices continue to anger politicians and consumers. “Our guys raised concerns about the ongoing tone from the administration. We asked that their tone …

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The US cities where homes are most at risk from hurricanes and other storm damage

As the country enters hurricane season from June 1 to the end of November, homes in New York and Miami are at the highest risk for property damage, according to a report released Wednesday from housing-research firm CoreLogic. Overall, more than 33 million homes in America are at risk of suffering damage from hurricanes, according …

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Why the retail industry is facing a bankruptcy wave

Revlon makeup products are displayed at a CVS store on August 9, 2018 in Sausalito, California. Justin Sullivan | Getty Images The retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity. There could be an increase in distressed retailers beginning later this year, experts say, as ballooning …

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Mark Zuckerberg envisions 1 billion people in the metaverse

Meta Platforms CEO Mark Zuckerberg told CNBC’s Jim Cramer on Wednesday that the metaverse could be a considerable part of the social network operator’s business in the second half of the decade. “We hope to basically get to around a billion people in the metaverse doing hundreds of dollars of commerce, each buying digital goods, …

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Mark Zuckerberg shows early metaverse headsets Mirror Lake, Holocake

The company formerly known as Facebook is going to spend $10 billion this year on research and development on virtual reality and augmented reality technologies, including computerized glasses or headsets. On Monday, Meta CEO Mark Zuckerberg showed off how much progress the social media company has made towards that goal by revealing many of the …

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