A view of a Shein pop-up store at a mall in Singapore April 4, 2024. Edgar Su | Reuters Shein’s ultra-cheap clothes can remain affordable as long as proposed tariffs from President Donald Trump are “applied equally,” the company’s executive chairman Donald Tang said on Thursday. “Affordability is a big anchor. … It’s the whole…
The WNBA has a salary problem, and it’s “blatantly unfair to its players,” according to top sports agent Jeff Schwartz. Schwartz, who founded and runs Excel Sports Management, told Alex Sherman in a CNBC Sport interview that something has to change when it comes to compensation in the women’s basketball league. “It’s ridiculous what women…
Morgan Stanley CEO Ted Pick said Thursday that his bank will be working with U.S. regulators to examine whether it can deepen its involvement in cryptocurrency markets. Pick was asked about his views on digital currencies under the pro-crypto Trump administration. On Tuesday, the acting head of the Securities and Exchange Commission launched an effort…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Art house Christie’s is aiming to tap the next generation of wealth with online auctions, digital art and luxury goods, according to its…
The EU trade commissioner, Maroš Šefčovič, has said Brussels is open to British membership of a pan-European customs area as part of “reset” discussions between the UK and the bloc. Šefčovič, who is responsible for post-Brexit relations for the EU, told the BBC that allowing the UK to join the Pan-Euro-Mediterranean convention (PEM) was “something…
DETROIT – General Motors on Thursday revealed a new $80,000 performance version of its all-electric Cadillac Lyriq, as the Detroit automaker targets becoming the top-selling luxury EV brand this year in the U.S. Cadillac expects to achieve that target with an expanding lineup of electric vehicles such as the performance Lyriq-V, Escalade IQ SUV and…
Sainsbury’s is to cut 3,000 jobs in the UK through the closure of its hot food counters and cafes and by reducing senior management roles by a fifth, amid rising labour costs. Simon Roberts, the chief executive of the supermarket group, said he was making the job cuts as part of its already announced efforts…
Rachel Reeves has said she will amend the finance bill to soften planned changes to the tax regime for “the non-dom community” after intense lobbying from wealthy UK residents. In the latest evidence of the government’s determination to roll out the red carpet for businesses and investors in an effort to kickstart growth, the chancellor…
We are interested in finding out more about different pension systems around the world and how engaged people are with their savings plan. If you are still working, how actively are you involved in your pension and do you think it will be enough when you retire? If not, what are your plans for when…
The EU’s new trade chief has said the bloc could consider including the UK in a pan-European trade agreement, but emphasised that “the ball is in the UK’s court”. While the UK’s Labour government has ruled out returning to the single market and customs union after Brexit, the possibility of joining a continent-wide deal could…
