Trump Orders Hospital Ship to Greenland

Iran said that it would respond with “heavy attacks” if the US continues to strike its ships. Last week, President Donald Trump escalated enforcement of the blockade on Iran by attacking its vessels.  A statement published by the Iranian military on Saturday explained, “Any attack on Iranian tankers and commercial vessels will result in a […]

Birkin Bag Maker Plunges Most Since 2010 As Soft China Demand Weighs On Leather Sales Hermès shares in Paris suffered their steepest intraday decline in nearly 16 years after second-quarter leather goods sales missed estimates among analysts tracked by Bloomberg, reigniting concerns over the luxury group's large exposure to the Chinese market.  Second-quarter sales in the leather goods division rose 10.2% at constant exchange rates, missing the Bloomberg Consensus estimate of 10.7%. Overall revenue increased 6.7% to about 4.1 billion euros, slightly ahead of estimates, driven by 13.7% growth in the...

Services Costs Drag Fed's Favorite Inflation Signal To 3-Year Highs, Savings Rate Holds Near Lows After accelerating in March and April, The Fed's favorite inflation indicator - Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) - was expected to rise once again in May. And it did with the crucial inflation signal up 0.3% MoM (as expected) and up 3.4% YoY (as expected) and at the highest level since Nov 2023... Services costs picked up again with Durable goods flat and...