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A prominent housing analyst expects hundreds of thousands of defaults next year as mortgage forbearance periods end. At first glance, those projections look bad. On closer inspection, however, this round of foreclosures should be mild in comparison to the financial carnage of 2008 to 2010.
What the novel coronavirus has revealed about the cruise industry is a “hidden in plain sight” problem — an international maritime regulatory structure that obfuscates and often ignores legal and social responsibility, accountability and culpability.
Mohammed bin Salman is about to find out what happens when the world does not need his oil. In the past, the standard response to that hypothesis was condescending looks. Not any more. The prospect of Saudi becoming a debtor nation is real.
It wasn’t coronavirus that hobbled Deliveroo: it was its small margins and the crippling costs of competing both in its home market and abroad. In the UK, there are three big players in the market, in the US there are half a dozen, in Europe there are over 20.
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Transactions have given rise to a complex data-selling ecosystem. At the heart of it are credit card processing networks, including Visa, American Express, and Mastercard, the latter of which took in $4.1 billion in 2019 for services that include marketing analytics as well as fraud detection.
A series of shocks has exposed weak links in our food chain that threaten to leave grocery shelves as patchy and unpredictable as those in the former Soviet bloc. The very system that made possible the bounty of the American supermarket suddenly seems questionable, if not misguided.
For Sudeep Choudhury, work on merchant ships promised adventure and a better life. But a voyage on an oil tanker in West Africa, in dangerous seas far from home, would turn the young graduate’s life upside down. His fate would come to depend on a band of drug-fuelled jungle pirates – and the whims of a mysterious figure called The King.
Welcome to Youngstown, Ohio, home of Chill-Can, the self-chilling beverage container you’ve probably never heard of. Officials have gambled millions of dollars and demolished a neighborhood for the product. Not one job has been created yet.
A cartel is a group of companies coming together to fix the price of a product. Like how major oil countries come together as the cartel OPEC, to fix the price of crude oil, except with a diamond. Once these locals catch on to how profitable the diamond trade is, they’ll started trading diamonds and smuggling it.
Nowadays, sneakers aren’t just for wearing. They’re an asset class, on display at museums, and fueling an increasingly profitable resale market. Much of that traces back to Nike putting a superstar rookie’s name on a new pair of kicks in 1985.
In 1950, Ingvar Kamprad began selling furniture. Seeing the logistical difficulty of shipping large items far away, Ingvar decided to flat-pack the furniture, which also reduced the chance of damage during transport. The company created a catalog that customers could browse through and order with from afar.
Researchers had a hunch that Luckin Coffee, China’s fast-growing challenger to Starbucks and a company traded in the U.S. stock market, was falsifying financial statements to exaggerate its sales. A few months later, an anonymously written 89-page report landed on Wall Street and leveled one of China’s hottest startups.
BYD Co. is the No. 1 producer of plug-in vehicles globally, attracting a tiny fraction of the attention of Elon Musk’s company while powering, to a significant extent, a transition to electrified mobility that’s moving faster in China than in any other country.
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The food at McDonald’s has always sold like hotcakes but once the restaurant started franchising, the world began eating up the brand. But being a franchise owner isn’t as easy, or profitable, as you might think. Buying into a McDonald’s franchise is expensive, between $1 million and $2.2 million.
Once a hush-hush luxury for the quietly-pampered, banana bags outside the hospital are hitting the mainstream. Nurses stand ready to provide intravenous care to the dehydrated, alcoholically and otherwise, in their homes and hotel rooms, at walk-in centers and on a hangover bus for special events.
In the mid 1990’s, two entertainment moguls along with plenty of huge celebrities like Bruce Willis and Arnold Schwarzenegger came together to create a restaurant business unlike any other. But as quick as this idea grew, the sooner everything came crashing down. This is the story of Planet Hollywood.
Fast fashion’s core business model is fueled by low prices, rapid consumption and fast-changing trends — all of which are in direct tension with its sustainability mission. The global fashion industry generates a huge amount of waste – one full garbage truck of clothes is burned or sent to a landfill every second.
The story of possibly the largest fraud in financial history—in which, billions of dollars were diverted from a Malaysian sovereign-wealth fund called 1Malaysia Development Berhad into covert campaign-finance accounts, U.S. political campaigns, Hollywood movies, and the pockets of innumerable other recipients.
For New Orleans entrepreneur Jesseca Dupart, social media isn’t just a tool for building her business—it’s a platform for inspiring other black women to do the same. She started as a simple hair salon in 2012, now her beauty products are available in stores in every state, as well as Canada, the Caribbean, and the UK.
With a separate license in Europe and a factory in Flimby, United Kingdom, New Balance has had the attention of sneakerheads abroad for more than a decade and a half. In the United States, however, where the brand was founded in 1906, it hasn’t enjoyed the same youthful appeal.
Epicurean coffeehouses in the United States numbered in the hundreds in 1989, and in the tens of thousands by 2013. A lot of that is Starbucks, but not all. Roasters in Italy went from exporting twelve million kilograms of espresso in 1988 to more than a hundred and seventy million in 2015.
Just one per cent of Sweden’s GDP circulates as cash. As debates over the need for cash rage along lines of age, wealth and location, the country is looking to create a digital currency.
Nearly 90% of international transactions in 2019 were in U.S. dollars, giving the U.S. extraordinary power over nearly every entity that imports or exports anything anywhere. Here’s how the global economy runs on the U.S. dollar — and why some countries are trying to chip away at its dominance.
Offshore oil rigs are inherently a higher-cost, higher-risk method of oil extraction, but the oceans are, of course, home to a huge proportion of the world’s oil reserves so, if there are no more low-cost oilfields on land, that’s where the companies go.
One of the ultimate symbols of luxury and affluence is private jet travel. An experienced bizjet pilot breaks down the industry, the costs, who can really justify such an expensive luxury, and why.
The question is whether the coronavirus will dent, deflect or alter what has been a phenomenon of our times, the many-times multiplication of ship sizes, of passenger numbers and of profits, generated by an industry that manufactures its own version of reality, then shapes the places that its ships visit in the image of that reality.
The two qualities sound like opposites, but they can go hand in hand. Narcissists believe they’re special and superior; humble leaders know they’re fallible and flawed. Humble narcissists bring the best of both worlds: they have bold visions, but they’re also willing to acknowledge their weaknesses and learn from their mistakes.
After chairman Guido Barilla rebuked gay families on national radio, his CEO spent five years cleaning up the company’s reputation. Barilla transformed from a pasta giant that would never feature homosexuals in its campaigns into one that sells spaghetti in homoerotic packaging.
A well-known attorney helped land a $2 billion settlement for Gulf Coast seafood-industry workers after a BP oil rig 40 miles off the coast of Louisiana, had exploded. But who was he really representing?
My brief, backbreaking, rage-inducing, low-paying, dildo-packing time inside the online-shipping machine, under conditions that were surprisingly demoralizing and dehumanizing, even to someone who’s spent a lot of time working in warehouses, which I have.
Michael Oswald’s film The Spider’s Web reveals how at the demise of empire, City of London financial interests created a web of secrecy jurisdictions that captured wealth from across the globe and hid it in a web of offshore islands. Today, up to half of global offshore wealth is hidden in British jurisdictions.
The past four decades have been perhaps labor’s weakest since the Industrial Age. For a half-century, those working for hourly wages have won almost no real gains. The real average hourly wage in 2018 dollars adjusted for inflation was $22.65 in 2018, compared with $20.27 in 1964 — just an 11.7% gain.
Nintendo hasn’t always made video games. It was founded over a century ago and at one point sold ramen noodles and operated a taxi service. Today, Nintendo is part of a crowded video game market, up against companies like Sony, Microsoft, Apple and Google. When Nintendo first got into the home console business in the 80s, it dominated.
Despite the obvious vulnerability of the sector, boards/CEOs of the six largest airlines have spent 96% of their free cash flow on share buybacks, bolstering the share price and compensation of management… who now want a bailout. They should be allowed to fail.
Despite tech’s reckoning with equality over the past few years, the industry’s storied history of inequality carries on. A small sampling: Only 11% of executive positions in Silicon Valley are held by women, and women make up only 9% of partners at the top 100 venture capital firms.
Successful business owners employed a variety of strategies to make ends meet, from entering into strategic partnerships to significantly downsizing staff. When small business owners faced dramatic downward shifts in revenue, they had to get creative and, in some cases, make extremely difficult decisions.
The Dunkin’ Donuts that used to be at the northwest corner of Belmont and Clark earned its nickname in the 80s and 90s. How a doughnut-shop parking lot became a confluence of Chicago youth subcultures—and what killed it off.
