Leonardo Del Vecchio, who founded eyewear empire Luxottica and turned an everyday object into a global fashion item, has died in Italy. The governor of Veneto, the northeast region where Del Vecchio started his business in a simple trailer in an Alpine valley town, said the industrialist die…
Russia appeared to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system amid its war in Ukraine. Moscow owed $100 million in interest on two bonds that was originally due May 27.…
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion with NerdWallet data writer Liz Renter about the impact of…
Sri Lanka is sending two ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted as a result of the Indian Ocean nation’s economic collapse. The plan comes as Washington and its allies aim to cut off energy imports from Russia in line with sanctions over its war i…
The company planning to buy Donald Trump’s new social media business disclosed Monday that it has received subpoenas from a federal grand jury in New York. Shares of Digital World Acquisition Corp. dropped 10% in morning trading Monday as the company reported that the subpoenas and related i…
EU countries have agreed that all natural gas storage in the 27-nation bloc should be topped up to at least 80% capacity for next winter as they prepare for the possibility of Russia further reducing deliveries. In addition, the EU Council said Monday that gas reserves will need to be filled…
Ukrainian President Volodymyr Zelenskyy has underscored the urgency of helping his country’s military improve its position against Russia during a video meeting with leading economic powers. Zelenskyy, in his remarks on Monday to the Group of Seven summit, addressed the delicacy of the momen…
Germany’s Lufthansa says it plans to put some of its Airbus A380 superjumbo jets back into service next year after mothballing the aircraft at the height of the coronavirus pandemic. Lufthansa said on Monday that it is currently assessing how many A380s will be reactivated and where they will fly. It expects to use them again from summer 2023, and said the decision was made “in response to the steep rise in customer demand and the delayed delivery of ordered aircraft.” The airline announced in September 2020 that it was taking its A380s out of service as demand for air travel remained stubbornly low.
Farmers driving tractors are blocking highways in the Netherlands in the latest protest sparked by a government pledge to rein in pollution emissions, a move that will hit the country’s agriculture sector. Authorities urged motorists to check traffic updates Monday before setting off, amid the protests that follow a gathering last week of tens of thousands of farmers in the central Netherlands that also caused traffic chaos around the country. At least three highways were affected by the protests. The Dutch governing coalition has mandated reductions in emissions of nitrogen oxides and ammonia of up to 70% in many areas of the country close to protected nature areas — even reaching as high as 95% in some places.
U.S. health authorities are facing a critical decision: whether to offer new COVID-19 booster shots this fall that are modified to better match the latest changes of the shape-shifting coronavirus. Moderna and Pfizer say their candidates targeting the super-contagious omicron variant will be an improvement. But the original omicron already has been replaced by its even more contagious relatives, with no way to know what version will spread this fall and winter. Advisers to the Food and Drug Administration will debate a recipe change Tuesday, and regulators promise a quick final decision.
One of Iran’s major steel companies says it was forced to halt production after being hit by a cyberattack, marking one of the biggest assaults on the country’s strategic industrial sector in recent memory. The Iranian government did not acknowledge the disruption or blame any specific group for the assault on the state-owned Khuzestan Steel Co., which constitutes just the latest example of an attack crippling the country’s services in recent months amid heightened tensions in the region. But a little-known hacking group on Monday claimed responsibility on social media, saying it targeted three of Iran’s major steel companies because of their links to Iran’s paramilitary Revolutionary Guard and volunteer Basij militia.
It might be tough to invest when your costs are rapidly rising, but investing just might be your best shot at keeping up with those costs.
Stocks fell in morning trading on Wall Street Monday as the market cools off following a rare winning week. The S&P 500 fell 0.3%, the Dow Jones Industrial Average fell 0.2% and the Nasdaq fell 0.6%. Technology companies were among the heaviest weights on the market. Retailers, travel-related companies and others that rely on direct consumer spending also fell broadly. European markets were mixed and Asian markets closed higher overnight. Treasury yields were mostly higher. Stocks closed out last week with solid gains and the S&P 500 had its best day in two years on Friday.
The skies over a scattering of Western U.S. cities will stay dark for the third consecutive Fourth of July as some big fireworks displays are canceled again, this time for pandemic-related supply chain or staffing problems, or fire concerns amid dry weather. The city of Phoenix cited supply chain issues in canceling its three major Independence Day fireworks shows this year. The northern Arizona city of Flagstaff is replacing fireworks with a laser light show. Some cities in California and Colorado are also nixing the once traditional fireworks shows for their July 4 celebrations.
If you think your Social Security benefits won't go far, a Roth IRA could be the solution.
Care for a hint of crab in your whiskey? A New Hampshire distillery’s newest concoction is Crab Trapper, a whiskey flavored with invasive green crabs. Tamworth Distilling is a maker of craft spirits that pushes boundaries with unexpected flavors like secretion from a beaver’s castor sacs. This time, the distillery turned to the sea and took up the challenge of doing its part in ridding the New Hampshire coast of the invasive crabs. Green crabs arrived in New England from Europe in the mid-1800s and now outcompete other native crab species for food and shelter. That said, the whiskey enough isn't alone to combat the environmental threat.
When your paychecks stop coming in, you'll need a plan for replacing that income.
Instead of piling returned merchandise onto a growing inventory heap, stores are considering just handing customers their money back and letting them keep the stuff they don't want.
Market downturns are rough, but you can get through it.
A breezy January morning made the mid-30 temperatures feel even chillier. But it was an important day for the young man pushing 30 himself. He was about to face his…
Equity, bond, and crypto markets are under pressure as inflation heats up.
Great companies are all around us. The challenge lies in building the conviction to hold them for the long run.
It's good to be grounded in your approach.
People with hearing loss have long adopted technology to navigate the world, especially since hearing aids are expensive and inaccessible to many. Over the past several years, new options have exploded. Captions from apps like Otter have proven critical for people who needed to join online meetings, or even talk in person, especially when mask-wearing muffled speech during the pandemic. For others, captions have served as a helpful backstop. They are spreading beyond television to videoconferencing apps like Zoom, streaming services like Netflix, social media video on TikTok and YouTube, movie theaters and live arts venues and, of course, personal communications.
As workers at major companies increasingly move to unionize, the political environment for labor couldn’t be more ripe. Perhaps nowhere is that more accurate than at the National Labor Relations Board. The agency’s top prosecutor, Jennifer Abruzzo, is seeking to overturn prior precedents and revive decades-old labor policies that supporters say would make it easier for workers to form a union. To get her wish, Abruzzo must have buy-in from the five-member board, whose Democratic majority is expected to be sympathetic to her proposed changes. But any such shifts in how the agency enforces labor law is likely to be reversed under a Republican administration and met with fierce resistance from employers in federal court.
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. Funky scarves, a take on a Boy Scout styles, morphed into colored lapels on suits that riffed on uniform. A bright yellow patch-loaded waistcoat had an African vibrancy and mixed with Breton striped scarves, nautical themes and Asian cross-over styles in jackets. But it was the quirkiness and humor that defined spring-summer in this strong show.
President Joe Biden and Western allies at a three-day summit in the Bavarian Alps say they're intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the leaders not to give in to “fatigue” even as Russia lobbed new missiles at Kyiv. Biden says the coalition of countries can't let Russian President Vladimir Putin play the countries off of one another and break down their resolve. Leaders of the Group of Seven top economies opened their annual summit in Germany on Sunday. Biden also announced that G-7 nations will ban imports of Russian gold. Gold is a top Russian export.
Baz Luhrmann’s Elvis Presley biopic “Elvis” shook up theaters with an estimated $30.5 million in weekend ticket sales, but — in a box-office rarity — “Elvis” tied “Top Gun: Maverick,” which also reported $30.5 million, for No. 1 in theaters. Final figures Monday, once Sunday’s grosses are tabulated, will sort out which film ultimately won the weekend. But for now, the unlikely pair of “Elvis” and “Maverick” are locked in a dance off. “Elvis” surpassed expectations. “Top Gun: Maverick” became the first 2022 release to reach $1 billion in worldwide ticket sales. It's also Tom Cruise's first $1 billion movie.