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Kushner’s Island Dream Gets Caught Up in Albanian Politics
Protests against his luxury developments have morphed into an anti-establishment movement.
Local businesses roll out custom merch as World Cup crowds expected to boost economy
With Philadelphia projected to generate roughly $770 million in economic activity from upcoming FIFA World Cup matches, local businesses are preparing for an influx of fans by offering new merchandise infused with Philly flair.
ASICS to spin off Onitsuka Tiger into standalone business from 2027
ASICS will transfer its Onitsuka Tiger business into a standalone group company from 2027 as the Japanese sportswear giant looks to support the brand's rapid global expansion and strengthen its position in the luxury lifestyle market.
Scientists discover giant, fan-shaped structure deep beneath the East Antarctic Ice Sheet
A mysterious geological structure that resembles a human hand with outstretched fingers has been revealed beneath East Antarctica. The discovery shows the frozen continent still hides many geological secrets.
Metro ‘Public Health Alert’ signs tied to Overland Park luxury home lawsuits
Red signs reading ‘Willis Homes Public Health Alert’ with a QR code to a website have popped up from downtown Kansas City to Overland Park.
World Cup visitor surge raises risk of flu and measles spread, health experts warn
As Seattle prepares to host an influx of visitors for the FIFA World Cup, local health officials and infectious disease experts say they are ready.
World Cup visitor surge raises risk of flu and measles spread, health experts warn
As Seattle prepares to host an influx of visitors for the FIFA World Cup, local health officials and infectious disease experts say they are ready.
South Florida businesses, airports preparing for influx of World Cup fans
South Florida isn’t just hosting the World Cup, it’s hosting the world’s biggest celebration with soccer, sunshine and South Beach selfies.
Surprising parts about my first adults-only cruise with Virgin Voyages
I took my first adults-only cruise with the luxury cruise line Virgin Voyages. I was surprised to find a playground and a tattoo parlor on the ship.
What North Texas health leaders do isn’t changing for FIFA World Cup, but how they do it is
Soccer fans from around the world will be coming to North Texas this month for the FIFA World Cup. Local health leaders have been preparing for the influx of people for about a year and a half. Hospital and public health officials say what they’re doing hasn’t changed much, but how they do it has.
15 Luxury Items From Childhood, According To Older Adults
"We got the generic frozen concentrate, and Dad made us put in extra water [in it]."
NASA to wear Prada as luxury group pushes into space industry
Italian fashion house Prada 1913.F unveiled on Sunday the inner-layer garment set to be worn by NASA astronauts heading into space, underscoring the brand's push to be the first major luxury player to make inroads in the space industry.
That's amore! Dua Lipa and Callum Turner host second wedding ceremony at luxurious Italian villa
Dua Lipa and Callum Turner have tied the knot — again. The musician and actor are celebrating their marriage with a second ceremony after making things official in London on May 31.
Miami luxury home seller considers AI shares as payment
A Miami home seller is open to accepting shares in OpenAI, Anthropic, or SpaceX as payment, reflecting a trend in investment strategy.
Health workers at the epicenter of Congo's Ebola outbreak labor with little pay or rest
Health workers inside Mongbwalu, the epicenter of Congo's outbreak, say they are working with little pay or rest.
Health workers at the epicenter of Congo's Ebola outbreak labor with little pay or rest
Health workers inside Mongbwalu, the epicenter of Congo's outbreak, say they are working with little pay or rest.
Health workers at the epicenter of Congo's Ebola outbreak labor with little pay or rest
Health workers inside Mongbwalu, the epicenter of Congo's outbreak, say they are working with little pay or rest.
I love luxury hotels, but my sister took me to an adult summer camp
I went to an adult summer camp with my sister. I didn't miss the amenities I'm used to in luxury travel, and was surprised by how much I loved it.
Boston’s international business boom equals more demand for housing
For real estate professionals, international business shows up in relocation traffic, rental demand and luxury purchases tied to expansion.
Hotel from ‘Pretty Woman,’ ‘Beverly Hills Cop’ cited for health violations
One of California’s most famous luxury hotels has landed in the crosshairs of Los Angeles County restaurant health inspectors. The Four Seasons Beverly Wilshire, located at the intersection of Rode…
Italian teenagers discover 1,800-year-old Roman luxury house underneath their high school gym
After being notified by mischievous high school students, archaeologists uncovered a large and luxurious second-century Roman house near the Colosseum.
Feds charge Ohio fraudsters with stealing $30M meant for behavioral health program to buy luxury cars
Luxury cars seized amid alleged $30 million fraud ring involving children's health services
Luxury cars seized after alleged $30 million fraud ring involving children's health services busted, officials say
Federal authorities have busted what they say is a $30 million fraud conspiracy involving billing for children's behavioral health services that were never provided, officials announced.
San Jose businesses gear up for multi-week World Cup boost
With the World Cup kicking off next week, businesses across San Jose are preparing for a massive influx of soccer fans—and they are hoping the economic benefits will stretch far beyond downtown.
Ford's quietest Bronco ever? New Filson edition packs V6 power, luxury upgrades
Ford and Filson unveiled the 2027 Bronco Filson SUV, featuring a 3.0-liter EcoBoost V6, Sasquatch off-road package and the quietest Bronco cabin ever.
EA Sports College Football 27 cover art revealed, gets meme'd into oblivion on social media
EA Sports College Football deluxe edition cover features Indiana coach Curt Cignetti and Mike The Tiger from LSU, sparking social media memes.
Macy's Lifts Sales Outlook; GameStop Collectibles Business
On this episode of Stock Movers with John Tucker: - Macy's (M) shares are on the move after it lifted its sales outlook for the year, a sign that the company's focus on growing its luxury business and improving its assortment is paying off. - GameStop (GME) shares are climbing after the video-game retailer reported a record quarterly profit driven by its collectibles business. Sales overall climbed 14% to $835.3 million. Net income of $389.6 million was the highest ever for a quarter in the company's history, GameStop said in a regulatory filing Tuesday. - Palo Alto (PANW) shares are dropping as the security software company reported results following a 61% year-to-date rally. The company reported third-quarter results that beat the average analyst expectation and raised its full-year forecast for key metrics, but failed to meet elevated buyside expectations.
Inside Hotel Du Pont, Italian Renaissance Gilded Age hotel in Delaware
Take a closer look at the grandeur of Hotel Du Pont, a luxury, century-old hotel filled with Gilded Age-style furnishings.
Artists and Scientists Partner to Bring Atmospheric Data to Life
In the fluxART project, scientists using eddy covariance to study atmospheric flux partnered with artists to help communicate the “breath of the biosphere.”
MGM Resorts International vs. Caesars Entertainment: Which Consumer Stock Is a Better Buy in 2026?
MGM leverages global luxury and digital expansion, while Caesars commands a vast U.S. footprint and loyalty program.
Caleb Williams Named EA SPORTS™ Madden NFL 27 Cover Athlete
Williams Is the First Chicago Bears Player To Appear On A Madden NFL Cover Fans Can Expect Full Game Reveal on Thursday, June 4, and Worldwide Launch on Aug. 13 EA SPORTS™ announced today that Chicago Bears quarterback Caleb Williams will grace the cover of EA SPORTS™ Madden NFL 27, making him the first player in Chicago Bears history to do so. Bears quarterback Caleb Williams lands on the cover of EA SPORTS Madden NFL 27. Williams’ record-setting season, playoff victory and NFL Moment of the Year — his walk-off, game-winning 46-yard touchdown pass in overtime against the Green Bay Packers — make him one of the most compelling quarterbacks to watch in 2026. Off the field, he’s known as one of the sport’s most distinctive cultural presences, styling his own gameday looks with unique nail art throughout the season. Williams appears on the Standard Edition cover showcasing his signature jump pass, while the Deluxe Edition cover features his iconic celebration that granted him the
New Mexicans vote in gubernatorial primaries as revenue soars from oil boom
Tuesday's primary election also comes at a time of promise for the next governor: Elevated global oil prices from the Iran war have translated into an influx of tax revenue.
New Mexicans vote in gubanatorial primaries as revenue soars from oil boom
Tuesday's primary election also comes at a time of promise for the next governor: Elevated global oil prices from the Iran war have translated into an influx of tax revenue.
EA Sports unveils CFB 27 video game cover athletes; Curt Cignetti headlines Deluxe Edition
On the game’s standard cover, Miami receiver Malachi Toney earned top billing alongside Oregon's Dante Moore and Ole Miss' Kewan Lacy.
EA SPORTS™ College Football 27 Reveals Cover Athletes Celebrating The Next Generation of Football Stars
Dante Moore, Malachi Toney and Kewan Lacy Appear on the College Football 27 Standard Edition, While Deluxe Edition Features Colin Simmons, Leonard Moore, Jayden Maiava and Coach Curt Cignetti Fans Can Expect Full Game Reveal This Thursday and Worldwide Launch on July 9 EA SPORTS™ today revealed the covers of EA SPORTS™ College Football 27 ahead of the game’s full reveal this Thursday. Oregon quarterback Dante Moore, Miami wide receiver Malachi Toney, and Ole Miss running back Kewan Lacy shine on the Standard Edition cover as a trio of electrifying playmakers who stood out in a competitive 2025-2026 college football season. The Deluxe Edition is joined by prominent defenders Texas linebacker Colin Simmons and Notre Dame cornerback Leonard Moore, alongside USC quarterback Jayden Maiava, national championship-winning coach Curt Cignetti, several beloved mascots and iconic gameday gear, celebrating the breadth of successful collegiate programs. Standout athletes Kewan Lacy, Malachi Toney
EA SPORTS™ College Football 27 Reveals Cover Athletes Celebrating The Next Generation of Football Stars
Dante Moore, Malachi Toney and Kewan Lacy Appear on the College Football 27 Standard Edition, While Deluxe Edition Features Colin Simmons, Leonard Moore, Jayden Maiava and Coach Curt Cignetti Fans Can Expect Full Game Reveal This Thursday and Worldwide Launch on July 9 EA SPORTS™ today revealed the covers of EA SPORTS™ College Football 27 ahead of the game’s full reveal this Thursday. Oregon quarterback Dante Moore, Miami wide receiver Malachi Toney, and Ole Miss running back Kewan Lacy shine on the Standard Edition cover as a trio of electrifying playmakers who stood out in a competitive 2025-2026 college football season. The Deluxe Edition is joined by prominent defenders Texas linebacker Colin Simmons and Notre Dame cornerback Leonard Moore, alongside USC quarterback Jayden Maiava, national championship-winning coach Curt Cignetti, several beloved mascots and iconic gameday gear, celebrating the breadth of successful collegiate programs. Standout athletes Kewan Lacy, Malachi Toney
Luxury brands seek to lure America's AI super-rich
European luxury brands have sharpened their focus on the United States, with a surge of store openings and fashion shows to lure a new crop of wealthy shoppers enriched by the AI and tech boom and offset weak consumer confidence in the rest of the world.
L’Amy America Appoints David Low as New Director of Business Development, West
NEW YORK—L’Amy America has announced the appointment of David Low as director of business development, West, effective today, June 1, 2026. Low joins L’Amy America at a pivotal moment as it expands its portfolio with the launch of its luxury category and the addition of Billabong eyewear collections, the company said in an announcement. Low brings more than three decades of experience in eyewear sales and sales leadership, L’Amy America said, with a strong background in brand development, strategic growth and team management across the optical industry.
The Science Of The Beauty Box Boom
Best of The Summer Beauty Edits & the psychology of why we buy them. Beauty boxes from Sephora, Cult Beauty and Boots are booming as shoppers chase luxury beauty bargains, curated discovery and the psychology of smart spending.
Vertu wants CEOs to run companies from an AI foldable starting at $6,880
Built on top of the open-source Hermes project, Vertu's new foldable combines AI-agent workflows, enterprise integrations, and ultra-premium luxury finishes.
AI-native software helps a luxury blanket brand avoid costly returns
Luxome partners with LiquiDonate to donate returned weighted blankets to nonprofits, reducing landfill waste with AI-driven solutions.
Photos offer glimpses of Donald Trump Jr. and Bettina Anderson’s luxurious, tropical wedding weekend
Bettina Anderson officially became part of the country’s first family this weekend – her new name an American political brand.
STEP - Health Alert: Worldwide Caution - U.S. Embassy in Luxembourg
STEP – Health Alert: Worldwide Caution STEP Alert Health Alert: Worldwide Caution – Updated Public Health Arrival Restrictions and Enhanced Ebola Screening – May 22, 2026 Event: U.S.-bound American citizens and lawful permanent residents (LPRs) who have been present in the Democratic Republic of the Congo, Uganda, or South Sudan within 21 days of arrival in the United States must only enter through the following airports for enhanced screening: Washington Dulles International Airport (IAD) for flights after 11:59 PM on May 21, 2026 Hartfield-Jackson Atlanta International Airport (ATL) for flights after 11:59 PM on May 22, 2026 George Bush Intercontinental Airport, (IAH), Houston, for flights departing after 11:59 PM on May 26, 2026 The U.S. Centers for Disease Control and Prevention (CDC) and the Department of Homeland Security’s (DHS) Customs and Border Protection (CBP) will apply enhanced public health screening at IAD in response to the Ebola outbreak. This requirement applies to all passengers, including U.S. citizens and LPRs, who were present in those countries. Please be prepared for flight changes or cancellations. Actions to take: Read the Modification of List of Designated Airports Regarding Arrival Restrictions Review the U.S. Centers for Disease Control and Prevention (CDC) information on what travelers need to know about returning to the United States from DRC, Uganda, and South Sudan. Read the Department of Homeland Security Alert on Enhanced Ebola Screening. Review Consular Information for Americans Regarding the Ebola Outbreak. If you are planning to travel to the United States, contact your airline to confirm your flight and route. You may also contact the State Department – Consular Affairs: Phone: +1-888-407-4747 or +1-202-501-4444 Enroll in the Smart Traveler Enrollment Program (STEP) to receive safety and security updates.
Sporticast: What’s Up With the French Open Fashion Friction?
On the 555th Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including some simmering tension between tennis’ biggest tournaments and fashion brands like Gucci and Louis Vuitton. Tennis players have long been attractive endorsers for luxury brands—the sport’s clientele, locations and vibes all align—and …
$140,000 E.V.s and Heritage Gold: The Rise of China’s Homegrown Luxury Market
As China’s economy slows, consumers are increasingly turning to domestic luxury products, challenging the dominance of long-established European brands.
Cold and rainy Memorial Day weekend leaves business struggling in Lake George
A rainy holiday weekend with temperatures in the 50's led to Lake George being mostly quiet this weekend. It was a pretty quiet lake without the influx of boats out on the water.
Private jet travel boom: Where and how the wealthy are flying
Private jet usage is exploding and is reshaping luxury travel trends, from $80 million aircraft to billionaires' habits.
How to Tell if a Wellness Retreat Is Legit Before You Spend Thousands and Some Red Flags
From IV drips to biometric testing, luxury wellness resorts are blurring the line between spa and medical clinic.
Lessons from the Vogue Business Global Summit: Chantilly
This year’s European Global Summit was held at the beautiful Château du Chantilly just outside of Paris. The two-day event saw industry leaders discuss the future of luxury, AI, and new growth markets.
Behind the scenes at the Vogue Business Global Summit: Chantilly
This year’s European Global Summit was held at the beautiful Château du Chantilly just outside of Paris. The two-day event saw industry leaders discuss the future of luxury, AI, and new growth markets.
Sony’s 1000X The Collexion are a luxurious and expensive celebration of its iconic headphones
Say hello to Sony’s most expensive wireless headphones.
Uncertainty makes science powerful — and incredibly vulnerable
Related Content Science fiction and the authoritarian imagination Thinking outside Schrödinger’s cat box: Reality as quantum Chatbots aren’t conscious, but it’s important to understand the science and philosophy of why In Silicon Valley, creationists and atheist post-libertarians have a lot in common Why thinking about aliens can help us better understand philosophy of science What […]
Baking soda & vinegar volcanoes with Mad Science of Austin & SA
Zegna chair says Middle East business situation is improving
Italian luxury menswear group Ermenegildo Zegna has registered an upturn in Middle East business in recent weeks after disruption caused by the Iran conflict and expects the recovery to be complete after the summer, its executive chairman said.
British Takeovers Up 250% as Global Buyers Bypass Political Flux
Britain has been a go-to destination for international deal hunters. The value of M&A mergers targeting UK companies is up more than 250% this year to around $150 billion, according to data compiled by Bloomberg.
'Hearts will be back' - fans defiant after title agony
Hearts fans, we asked for your opinions after the devastating 3-1 loss to Celtic that meant the league title stayed in Glasgow for another year. Celtic's title celebrations briefly cover the cracks unveiled by Hearts - that the Old Firm's dominance is over. Finished the game with too many defensive players which meant we couldn't react to going behind.
Why quiet luxury is giving way to loud, tacky wealth
From Lauren Sánchez to the gold-plated Oval Office to "Mar-a-Lago face," America's elite are embracing louder, flashier displays of wealth.
Sales of luxury homes in Las Vegas jump in 2025, report says
“Southern Nevada’s luxury market saw healthy growth in 2025,” states a new report from Nevada State Bank. “This increase followed four years of relatively flat activity afte...
Rep. Chris Deluzio targets rising youth sports costs in Let Kids Play Act
'Youth sports should not be a luxury item,' Deluzio said.
Rep. Chris Deluzio targets rising youth sports costs in Let Kids Play Act
'Youth sports should not be a luxury item,' Deluzio said.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Local health officials prepare for influx of World Cup fans
Health officials from the U.S. cities hosting the 2026 FIFA World Cup say they are preparing to deal with infectious diseases, heat-related illness, and an array of other health threats when millions of fans, many of them from overseas, come to watch the games. The World Cup is expected to draw between 5 million and […]
Kustom Entertainment, Inc. Announces Global Frequencies, a Massive EDM Event Coming to Kansas City’s Azura Amphitheater on Sunday, June 28, 2026
DJ Diesel AKA Shaquille O'Neal, Loud Luxury, TroyBoi, Alison Wonderland and many more to be announced, bringing an unmatched global dance music experience to Kansas City. OVERLAND PARK, Kan., May 13, 2026 (GLOBE NEWSWIRE) -- Kustom Entertainment, Inc. (NASDAQ: KUST) is turning up the volume with Global Frequencies, a high-impact EDM event set for Sunday, June 28, 2026, at Azura Amphitheater. Coming right after the World Game, Global Frequencies will bring an electric wave of sound, lights, and w
The class politics of modern outbreaks
The MV Hondius hantavirus scare revived debates about luxury travel, public health and unequal vulnerability to disease.
The class politics of modern outbreaks
The MV Hondius hantavirus scare revived debates about luxury travel, public health and unequal vulnerability to disease.
Jack Sutton closing luxury jewelry store after 4 decades inside New Orleans’ Canal Place
It's the latest departure from the high-end mall and another blow to Canal Street.
Aetherflux Rebrands, Pivots Business—and Raises $275M
To better align with its new business, Aetherflux is rebranding to Cowboy Space Corporation.
French evacuee from hantavirus-hit ship tests positive, health minister says
A French national evacuated from a luxury cruise ship linked to a deadly hantavirus outbreak tested positive for the virus, the French health minister said Monday. Four other French passengers from the…
The Western Conference Never Gets Any Easier, Does It?
Fresh lottery results promise a talent influx for Utah and Memphis, arming division rivals with elite picks that complicate Houston’s path through an increasingly relentless Southwest Division.
Favorite things to do in Egypt, according to a local of 30 years
As a woman who lives in Egypt, some of my favorite things to do include hiking Mount Sinai, hot-air ballooning in Luxor, and visiting the Djara Cave.
Armani could split 15% stake among L'Oreal, LVMH, EssilorLuxottica, report says
Italian fashion house Giorgio Armani is considering selling its 15% stake in three equal parts following the designer's death, potentially bringing in three buyers he had selected as shareholders, a newspaper reported on Sunday.
Big takeaways from my first-ever Formula 1 race
In this Saturday edition of Business Insider Today, we're talking about all the luxury on display at the F1 Miami Grand Prix.
Game on: ASU students join ‘hot' field of sports psychology
Nowadays, every time a professional athlete wins a gold medal, dunks a ball or knocks it out of the park, there's a good chance a mental performance coach is celebrating along with the rest of the team.And while these coaches have long been considered essential at an elite level, they are no longer a luxury reserved for professionals only.
North Kansas City small businesses prepare for FIFA World Cup despite visitor number speculations
Pro Apparel KC and other North Kansas City businesses are preparing for an influx of FIFA World Cup visitors, even as hotel booking reports show Kansas City trailing other host cities.
Rivian eyes more EV variants as affordable R2 rollout begins
Rivian is signaling that its push into more affordable electric vehicles may extend well beyond the upcoming R2 SUV — a key development for the EV maker as it tries to broaden its appeal beyond luxury buyers.
Slay The Spire 2 Gets Review Bombed By Gamergate 2.0
An influx of new players are using Steam reviews to relitigate Gamegate
Lucid plans to adjust production, citing elevated EV inventory
Lucid Group said it will make moves to better align its production with customer demand for its luxury all-electric vehicles.
Marc Kassen checks into political thriller ‘PH-1’
Kassen directs, co-writes and stars as a politician whose luxe Suite 1 penthouse becomes an involuntary prison as he sees his life and career in ruins as he becomes a social media target.
Cirque du Luxe brings circus entertainment to Spartanburg
News, weather, sports for Greenville, Spartanburg, Anderson, and Pickens, SC and Asheville, Hendersonville, NC. CBS affiliate, Channel 7
Cirque du Luxe brings circus entertainment to Spartanburg
SPARTANBURG, S.C. (WSPA) – The circus is bringing high-flying acts and more to Spartanburg this weekend. Cirque du Luxe brought their big top tent to the Piedmont Interstate Fairgrounds to da…
Florida Yacht Charter Business Fights $1.5 Million Tax Bill
A Florida yachting venture that participated in high-stakes offshore fishing tournaments before unforeseen setbacks forced a pivot to luxury charters told the US Tax Court the IRS wrongly defined its business as a hobby and assessed more than $1.5 million in tax liabilities.
DHS shutdown ends after 76 days, GOP climbdown
Further delays could’ve shuttered the agency until mid-May
How to Build a Profitable Handbag Business From Scratch
With profitability now within reach, the London-based luxury leather goods brand Métier is raising fresh capital to fuel its next chapter.
Palm Springs businesses feel strain during festival season, calling for action
PALM SPRINGS, Calif. (KESQ) - Palm Springs business owners are raising concerns about the economic impact of festival season, saying the annual influx of visitors doesn’t translate into local spending. While hotels and large-scale event industries benefit, many retailers report slower sales as visitors spend most of their time at festival grounds outside the city.
GalaxyBids Announces New Auction Platform That Blends Entertainment and Luxury
Part of GalaxyBids’s allure is meant to come from its ability to make online shopping a more active and, therefore, interesting process.
Opinion: Illinois’ ‘flat’ tax isn’t flat — and it’s costing us billions
Illinoisans are struggling to afford the basics. The least we can do is stop subsidizing the luxuries of people who have everything they need and then some.
KUSTOM ENTERTAINMENT TO HIGHLIGHT STRATEGIC PROGRESS AT THE 16th ANNUAL LD MICRO INVITATIONAL
Management to Highlight Strategic Transformation, Live Event Growth and 2026 Outlook - OVERLAND PARK, Kan., April 27, 2026 (GLOBE NEWSWIRE) -- Kustom Entertainment, Inc. (NASDAQ: KUST), a leader in live event production and ticketing technology, today announced that Chief Executive Officer Stanton E. Ross will present at the 16th Annual LD Micro Invitational, taking place May 17–19, 2026, at the Luxe Sunset Blvd. Hotel in Los Angeles, California. At LD Micro, Kustom plans to outline the strategi
Noctua says “feel free” to 3D print your own Noctua fans after releasing public CAD models online
Noctua has long been a go-to brand for PC building enthusiasts, and now, the company has released a library of free 3D models to explore.
Kansas City has paired 18 vacant storefronts with local businesses for the World Cup so far
A special program is bringing empty Kansas City storefronts back to life by placing entrepreneurs in prime downtown spaces to show off for an influx of international visitors. City leaders hope the program leads to long-term opportunities for small businesses and building owners.
Madrid Locals Are Fighting to Preserve the City’s Soul
As the city morphs into a luxury tourist destination, struggling small businesses are pushing to retain the character that drew many tourists in the first place.
Where to watch New York Yankees vs. Houston Astros: Live stream, TV channel, odds for Friday, April 24
The Yankees open their series against the Astros.
Status symbols men are obsessed with in 2026
Status symbols for men in 2026 are all about looking sharp and evoking quiet luxury. Leather bags and tailored designer suits are just two examples.
Ranking every NFL Draft first-round pick: Raiders get top billing; Cardinals' luxurious move drops them down
Value and personal evaluations are taken into account with each first-round pick.
Health Care Roundup: Market Talk
Find insight on EssilorLuxottica, Hengrui Pharmaceuticals and more in the latest Market Talks covering Health Care.
Kroenke Sports & Entertainment to renovate 24 suites at Ball Arena
Kroenke Sports & Entertainment is planning to renovate 24 luxury suites at Ball Arena during the summer and debuting in time for the 2026-27 Nuggets and Avalanche seasons.
Where Warriors' financial situation stands entering pivotal 2026 NBA offseason
The Golden State Warriors are entering a pivotal 2026 NBA offseason with some financial challenges, such as potentially going under the luxury tax.
Gamers sue Nintendo over tariff refunds, saying consumers should get the money back
Two gamers have filed a class action lawsuit against Nintendo, alleging that the company will be unjustly enriching itself with any refund it secures from the U.S. government over widespread tariffs last year that, among other things, hiked the prices of Nintendo hardware and accessories. “Unless restrained by this Court, Nintendo stands to recover the same tariff payments twice—once from consumers through higher prices and again from the federal government through tariff refunds, including interest paid by the government on those funds,” the suit states. Nintendo sued the U.S. government to secure a tariff refund in March, after the Supreme Court struck down the tariffs a month prior, saying they were illegally implemented by President Donald Trump.. The gamers who have sued, California-based Gregory Hoffert and Washington-based Prashant Sharan, both say they purchased Nintendo goods that had increased in price due to tariffs, according to the complaint. They filed their suit in the Western District court of Nintendo of America’s home state of Washington and are seeking class action status to represent all people in the U.S. who purchased price-hiked Nintendo goods between February 1, 2025 and February 24, 2026. They allege that Nintendo’s recovery of any tariff refunds would constitute unjust enrichment and violate Washington state consumer protection law. Similar class action lawsuits pressing companies to pass on tariff refunds have been previously filed against FedEx, UPS and eyeglass importer EssilorLuxottica. The tariffs were announced in early April, and by mid-month, Nintendo had announced $5 price increases for controllers for the then-forthcoming Switch 2. In August, it raised the price of the original Switch. In their suit, the gamers cite comments from Nintendo executives connecting the tariffs to price increases. In May 2025, a month after the tariffs were imposed, Nintendo CEO Shuntaro Furukawa told investors “Our basic policy is that for any country or region, if tariffs are imposed, we recognize them as a part of the cost and incorporate them into the price.” Nintendo’s March lawsuit, along with tariff-recovery suits from hundreds of other companies was immediately put on hold pending the implementation of a refund system. The U.S. government announced the beginning of the refund process earlier this week. Companies could receive as much as $160 billion, per CNBC. In March 2026, after Nintendo filed its lawsuit to recover the cost of the tariffs, I asked the company if they planned to pass their refund on to customers who’d paid increased prices. The company’s response acknowledged the existence of the lawsuit but avoided answering that question: “We can confirm that we filed a request. We have nothing else to share on this topic.” Even a promise to consumers may not have spared Nintendo this week’s lawsuit. FedEx previously promised to pass its tariff refunds on to consumers. They’ve been sued over them anyway.
Molteni Group's Contract Business Thrives: Nautical & Hospitality
Molteni Group sees booming growth in contract, hospitality, and nautical sectors, leveraging long-term projects with luxury DNA and global expertise.
Luxury Brands Bet on the Middle East. War Has Damaged Their Plans.
High-end brands such as Louis Vuitton and Hermès are looking to other regions as sales in Persian Gulf nations plummet.