Hugo Boss shares plunge on profit warning amid slumping China demand

Pedestrians walk past a German luxury fashion house Hugo Boss store in Shenzhen Bao’an International Airport. Alex Tai | SOPA Images | LightRocket | Getty Images) Hugo Boss shares plunged as much as 10% Tuesday after the company cut its sales outlook, becoming the latest high-end fashion line to warn of persistent woes in the … Read more

China’s rich shy away from flaunting wealth amid economic uncertainty

China’s rich are turning their backs on flaunting their wealth as the economy faces headwinds, putting the country’s luxury market under pressure. D3sign | Moment | Getty Images China’s rich are growing more cautious about flaunting their wealth as the economy faces headwinds, putting the country’s luxury market under pressure. There are emerging signs of … Read more

Burberry replaces CEO, suspends dividend; shares dive 15%

Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong. Xaume Olleros | Bloomberg | Getty Images Shares in Burberry plunged over 15% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend. … Read more

Anant to wed Radhika, star-studded guestlist

Anant Ambani fiancée Radhika Merchant pose for a photo on the red carpet during their sangeet ceremony at Jio World Centre in Mumbai.  Sopa Images | Lightrocket | Getty Images All eyes are on this weekend’s mega wedding in India, where the youngest son of Asia’s wealthiest man prepares to tie the knot with his … Read more

Why did Airbnb host reject me? Hosts are looking up travelers online

When a woman in her early twenties requested to book Vicky Borman’s one-bedroom Heritage-listed cottage in the English village of St Neots last summer, something didn’t feel right. The user had no reviews on her Airbnb profile, so Borman, who has ‘Superhost’ status on the platform, took to social media to investigate. There it was … Read more

Six Marriott hotels are providing free helicopter transfers into NYC

With New York’s congestion pricing plan indefinitely delayed, traffic into Manhattan this summer is set to be gridlocked as usual. But travelers staying in some of the city’s top luxury hotels can avoid the highways altogether. Announced Tuesday, Marriott International Luxury Group is providing free helicopter transfers from John F. Kennedy International Airport and Newark … Read more

Manhattan is ‘buyer’s market’ as real estate prices fall, inventory rises

A sign advertising a home for sale is displayed outside of a Manhattan building in New York City on April 11, 2024. Spencer Platt | Getty Images Manhattan is becoming a buyer’s market as apartment prices fell and inventory rose in the second quarter of 2024, according to new reports. The average real estate sales … Read more

Estee Lauder gets rating and price target cuts on China struggles

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Top heavy : Stocks were on pace for a higher close Monday in what has been a volatile session for both equities and bonds. The 10-year … Read more

Americans take less time off but Europeans are more vacation deprived

Nearly two in three workers around the world are “vacation deprived,” according to a new report published by Expedia. However, the report shows the feeling is highest among cultures that take the most days off. Some 84% of Germans and 69% of French respondents said they feel they don’t have enough time off, according to … Read more

Diamond industry ‘in trouble’ as lab-grown gemstones tank prices further

A diamond necklace in a Harrods department store in London. Leon Neal | Afp | Getty Images “A diamond is forever,” but perhaps not for the increasing number of consumers spurning the gemstone for lab-grown counterparts, gold and even other colored gemstones. The slogan was coined by diamond giant De Beers in 1948, capturing the … Read more