Trump says China-US trade deal could wait until after 2020 election

Shares tumble after president claims tariffs are hurting rival more than America Donald Trump has warned that a trade deal with China could be more than a year away in comments that sent shares in Britains top 100 companies and US stock markets tumbling. Speaking at the Nato summit in London, the US president said the US was doing very well from on course to sign a first-stage deal with the US, and Washingtons silence was read as tacit approval. But only days later a new tax imposed by Paris on the sales of digital services providers. The US president said France had been wrong to hit American tech firms with a 3% levy on their global revenues. Trump denied …

Black Friday sales are fueling fashions dark side | Eva Kruse

We are producing and consuming fashion at a rate like never before and mass shopping sales are simply fanning the flames This morning I opened my inbox to find reams of emails mid-season sale, 50% off, exclusive offer enticing me to grab the best deal while it lasts. When were barraged by messages from the fashion industry to buy more, its hard to resist and I have easily succumbed to these temptations in the past. We are now producing and consuming fashion at a rate like never before. Since 2000, Europeans have purchased more pieces of clothing but spent less money in doing so: clothing prices in the EU have half as long as they did 15 years ago. Yet …

LVMH reportedly nearing a deal to acquire iconic New York jeweler Tiffany & Co.

New York (CNN Business)Luxury giant LVMH is reportedly nearing an agreement to add another brand to its portfolio, a deal that would come wrapped in a little blue box. The luxury conglomerate sent an unsolicited proposal on October 28 to acquire Tiffany for $120 per share in cash, a valuation of $14.5 billion. At the time, the offer represented a 20% premium on the Tiffany share price but the stock jumped following the offer, closing at nearly $126 on Friday. Many analysts said combining with LVMH would be a good move for Tiffany, though the initial offer slightly undervalued the company. The 182-year old New York jeweler currently employs 14,000 people and operates 300 stores around the globe. Its little …

SNL has Alec Baldwin’s Trump meets his supporters, Mark Zuckerberg and Bill Clinton at one of his rallies

(CNN)“Saturday Night Live” opened this week’s episode with Alec Baldwin reprising his role as President Trump. The NBC variety show had Baldwin’s commander in chief holding one of his rallies. “This man is under attack! It’s deep state lizard conspiracy! And everyone’s in on it,” Strong’s Trump supporter yelled. “The CIA, the FBI, the M-I-C, the K-E-Y and the M-O-U-S-E!” After some other Trump supporters, Sen. Lindsey Graham, played by Kate McKinnon, then took the stage alongside Baldwin’s Trump, who confused Graham for a “scoop of ice cream melting into a suit.” “I’m sweating profusely all the time,” McKinnon’s Graham said. “Even my bodily fluids are trying to distance themselves from me.” Then Trump greeted Facebook CEO Mark Zuckerberg, who …

Maserati distances itself from Asian ‘Oscars’ in Taiwan under pressure from China

Hong Kong (CNN Business)Another Western company has been plunged into damage control mode because of tensions with China. “Maserati always respects China’s territorial integrity, history and culture, and firmly upholds the one-China principle,” the carmaker said in its statement, which was published on its verified Weibo account Wednesday. The Golden Horse awards were founded by the island’s authorities in 1962. But the event has evolved in recent years into a major platform for Chinese-language filmmakers around the world to showcase their work, attracting stars from Taiwan, Hong Kong, mainland China and elsewhere. Last year, a young Taiwanese filmmaker stirred controversy when she accepted an award for best documentary at the festival. “I really hope our country will one day be …

Louis Vuitton x Donald Trump: the big fashion collab no one asked for

Is Louis Vuitton not worried about the threat of aligning their plastic-y, tan hides with the plastic-y tan hide in chief? Louis Vuitton, the most valuable luxury brand in the world and prize pony of luxury conglomerate LVMHs stables, has opened a Texas factory, AKA the Louis Vuitton Rochambeau Ranch. Vuitton promised the venture will provide 1,000 American jobs over the next five years. Yet, at a time where brands are feeling the pressure to be more political and woke than ever, is it not a gigantic faux pas to discount politics on Vuittons part? The answer is maybe? First off, its salient to note that this is not the first Vuitton factory in the States. No, the company has …

Who will be the new owner of democracy.com? Domain to go on sale

Sale is a sealed-bid auction, in which each potential buyer is blind to what others offer, but is expected to get $300,000 or more What is democracy worth? Later this month a broadly philosophical question will be put to a material test. On 25 October at 5pm, the web domain democracy.com goes up for auction. The site is currently administered by veteran social activist Talmage Cooley. The advertised price, according to $872m in 2015. But .com domains attached to prestige words are still going for big sums. In June, Voice.com DomainInvesting.com called the Voice.com purchase easily the largest domain name sale of the year and one of the largest pure domain name sales of all time. Fashion.com goes up for …

Startups Weekly: Part & Parcel plans plus-sized fashion empire

Peloton’s secret weaponsRemember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter . If you don’t subscribe to Startups Weekly yet, you can do that . Startup spotlight San Francisco-based Part & Parcel is a plus-sized clothing and shoe startup providing dimensional sizing to women across the U.S. The company operates a bit differently than your standard direct-to-consumer business by seeking to include the women who wear and evangelize the Part & Parcel designs by giving them a cut of their sales. “I bought a brown men’s polyester suit and wore it to an interview,” Jonas, an early employee at Poshmark and the long-time author of the popular blog, ‘The Pear Shape,’ tells TechCrunch. “I was …

David Koch obituary

US businessman, free marketeer and rightwing activist David Koch, who has died aged 79, was ranked as the eleventh richest person in the world. Charles wanted to minimise the role of government and maximise the role of the private economy … and personal freedoms, but the brothers philosophy was self-serving, protecting their worth and working against regulation of their business interests. David was the more public of the two, his philanthropy extending beyond the brothers massive spending on rightwing thinktanks, academic programmes, activist organisations and campaign funding; he was a major donor to the arts and medicine, especially in New York, where he maintained homes in Manhattan and the Hamptons. He moved between them, Aspen (Colorado), Palm Beach (Florida) and …

In the retail crisis, the shutters are coming down even in New York

Visitors to Manhattan are finding that several retail landmarks are fading fast There is a lot to do in Manhattan but shopping? Maybe not so much these days. Once one of the hottest markets on the planet, New Yorks retail sector is suffering. Surveying the empty storefronts on Fifth Avenue, holidaymaker Gill Stewart, from Stokesley in Yorkshire, said she was surprised by the number of vacancies. Weve come across a few places that are empty or under refurbishment, certainly many more than we expected, she said. As the family wondered which direction to go in, Stewart noted that her teenage children, Nathan and Eleanor, werent even clamouring to visit the shops. Her daughter confirmed that the focus of their New …

Sole to the highest bidder: Sotheby’s to auction rare Nike sneakers

Nikes famous Moon Shoe and limited-edition trainers produced by Kanye West, Air Jordan and Adidas will be sold Sothebys in New York has announced its first-ever auction dedicated to sneakers. The auction house will sell 100 pairs of the rarest sneakers ever produced, including a sample of one of the first Nike running shoes with a pre-sale high estimate of $160,000. The Nike Moon Shoe is one of only 12 pairs created. It was designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials and the pair up for auction is handmade, according to streetwear marketplace Stadium Goods, which is teaming up with Sothebys for the event. Other sneakers include 2011 and 2016 versions …

Italian airline apologizes over Obama blackface video

London (CNN Business)Italian airline Alitalia has apologized for a promotional video that featured an actor in blackface portraying former US President Barack Obama. “It has since been removed. For our company, respect for everyone is mandatory, it was never our intention to hurt anyone and we will learn from what has happened.” Blackface refers to darkening one’s complexion using paint or makeup. In the United States, the racist practice has its roots in 19th century minstrel shows but it also appeared in Europe. The use of blackface in the video produced a backlash on social media. “This @Alitalia video showcasing a silent blackfaced “Obama” is reprehensive on so many levels: racism, extreme provincialism, willful ignorance of facts, lack of historic …

Amazon’s Quest to Be Fashionable Continues

Amazon isn’t exactly the most stylish place to shop for clothes. Most of its top-selling women’s fashion items are simple pieces: easy dresses, spandex workout gear, socks, and underwear—a lot of it from brands you’ve probably never heard of. But that doesn’t mean Amazon isn’t a powerhouse for apparel sales. As traditional department stores have declined, Amazon has become one of the most popular clothing retailers in the US, especially among millennials. The company has its own in-house clothing brands, as well as subsidiaries like Shopbop for higher-end women’s fashion and Zappos for shoes. Now, Amazon is experimenting to attract a new, more fashionable segment of consumers: social media influencers and the people who love to follow them. Earlier this …

What to know about Robert F. Smith, the man paying off Morehouse grads’ student loans

(CNN)Robert F. Smith lifted a huge burden off the graduating class of Morehouse College when he announced during his commencement speech that he would pay off the student loan debt of more than 300 students. Smith is the richest black person in the United States, with a net worth of $5 billion, according to Forbes. Yes, he’s richer than Oprah. He’s the founder of the investment firm Vista Equity, which boasts capital commitments of $46 billion, according to its website. In 2019, Smith was #355 on the Forbes Billionaires List. Smith is the son of educators who started his career as a chemical engineer for Goodyear and Kraft. He attended business school at Columbia University and went on to make …

Trump’s Trade War With China Hasn’t Wrecked TechYet

Now for your latest installment of the on-again, off-again trade war between the US and China, we have President Trump blasting Beijing for reneging on commitments to clamp down on intellectual property theft, end forced technology transfers from US tech companies, and allow US companies greater access to the domestic Chinese market, including in cloud computing. Until Sunday’s tweets, the smart money had been on a deal. The sudden cooling—and a promise that tariffs on $200 billion of Chinese goods imported into the US would rise from 10 percent to 25 percent on Friday—has spooked financial markets and unsettled businesses ranging from apparel to autos and especially to tech. Reaction to the new hostilities ranged from warnings of a 20 …