There are “no guarantees” there will not be a recession in the US, although there could be an adjustment, Treasury Secretary Scott Bessent said in an interview that aired on Sunday. But Bessent, speaking to NBC’s “Meet the Press,” ruled out the chance of a financial crisis. US stock markets closed down sharply last week amid mounting uncertainties arising from … Read more
The Federal Reserve is still expected to cut interest rates this year — but not until the fall — as policymakers weigh the fallout from President Trump’s tariffs on trade partners, according to a survey released Friday. Economist polled by Bloomberg News forecast two quarter-point reductions, with the first expected in September and the second … Read more
“A lot is going wrong” with the housing market right now, but “uncertainty” is the “biggest” problem of all, “Shark Tank” investor Barbara Corcoran told Fox News on Thursday. “There’s great uncertainty, and uncertainty is bad for business,” the Corcoran Group matriarch said while appearing on “America’s Newsroom.” “Uncertainty makes people pause, which is a … Read more
Gold struck a record-high price on Friday as spooked investors rushed to a safe haven over fears that President Trump’s tariffs could reheat inflation and cause an economic slowdown. The precious metal surpassed $3,000 per ounce for the first time ever before dipping below that threshold in midafternoon trading. Gold’s draw as a safe haven … Read more
Kering lost around $3 billion in stockmarket value on Friday after the group chose in-house talent Demna to reinvigorate its Gucci label rather than hiring one of fashion’s big-ticket names as chief designer. Kering’s shares fell by up to 13% in Paris and posted their worst day in almost a year following the appointment of Balenciaga designer Demna. … Read more
It’s not a lot of fun being an administrator at an elite, woke university now that we have a new sheriff in the White House. Instead of coddling campus antisemites as Sleepy Joe Biden did, Donald Trump is demanding their expulsion. Those with green cards who support Hamas are getting expelled. Trump is cutting off … Read more
Luxury fashion group Prada’s CEO Andrea Guerra has flown to New York, a source close to the matter told Reuters, as the group is in talks to buy Capri Holdings-owned Versace in a deal that would unite two of the biggest names in Italian fashion. On his trip to the US financial capital, Guerra is accompanied by … Read more
Bungling MSNBC bigwigs accidentally printed out details about the left-leaning network’s impending jobs bloodbath — and the top-secret document was found by a stunned staffer who leaked the details to co-workers, The Post has learned. The production assistant stumbled across the “kill list” at MSNBC’s 30 Rock headquarters in midtown Manhattan shortly before the cuts … Read more
Christie Brinkley-linked skincare brand SBLA Beauty – which sells so-called “scientific” anti-aging products – filed for Chapter 11 bankruptcy. The award-winning brand is perhaps best known for its non-invasive Eye Lift Wand and Neck, Chin & Jawline Sculpting Wand, which Brinkley called one of her best skincare secrets. Brand owner SBLA Inc. filed for bankruptcy … Read more
Forever 21 moved closer to shuttering its stores forever. The struggling mall mainstay — which sells $7 t-shirts, $12 dresses and $25 sneakers — is on the verge of filing for bankruptcy after efforts to find a buyer have floundered, according to Bloomberg. Discount clothing chain, Forever 21, is poised to file for bankruptcy for … Read more