Rolls-Royce has opened its first U.S. “Private Office,” a secret VIP design studio for ultra-wealthy clients who want highly personalized cars.The Private Office, in Manhattan’s trendy Meatpacking District, is central to the fabled British automaker’s new strategy of growing sales and profits from selling more customized, higher-priced vehicles rather than boosting production. Rolls-Royce produced 6,032 cars last year, less than half the production of Ferrari, yet continues to generate strong profit growth for its parent company BMW.While Rolls-Royce customers have been customizing their rides for decades, the Private Office brings the concept of a personalized Rolls to a whole new…
Author: usaeverydaylife
Federal Reserve interest rate cuts may help turn the tide for commercial real estate. Yet investors should tread carefully if they’re wading into the market. Central bank policymakers’ half-point reduction last month “marks the beginning of the end of the worst CRE downturn since the Global Financial Crisis,” Wells Fargo said in a Sept. 25 note. “Lower interest rates are not a magic bullet, but less restrictive monetary policy lays the groundwork for a commercial real estate recovery,” wrote senior economist Charlie Dougherty. “Decreased long-term interest rates appear to be easing upward pressure on cap rates and slowing declines in…
Tesla CEO and X owner Elon Musk speaks during a rally for Republican presidential nominee and former U.S. president Donald Trump, at the site of the July assassination attempt against Trump, in Butler, Pennsylvania, U.S., October 5, 2024. Carlos Barria | ReutersTesla CEO Elon Musk, who is backing Donald Trump in the presidential election, on Sunday touted a $47 referral bonus that the billionaire’s political action committee is offering to people for each registered swing-state voter whom they refer to an online petition that requires signers to submit personal contact information. “For every person you refer who is a swing state…
Embattled New York City Mayor Eric Adams said Monday that he’s accepted the resignation of his deputy mayor for public safety, Philip Banks, the latest senior official to leave as the mayor fends off an indictment and calls to step down.Adams said on TV station NY1 that Banks had told him Sunday that “he wants to transition to some other things” and “doesn’t want this to be a constant burden on the work that we’re doing in the city.” The mayor added, “I wish my good friend well.”The resignation, first reported in the New York Post, comes one month after…
Super Micro CEO Charles Liang.Source: SupermicroSuper Micro Computer shares jumped 15% after the computer server company said it’s shipping more than 100,000 graphics processing units used for artificial intelligence per quarter.That could translate into several billions of dollars of orders if the average price of a GPU is around the cost of Nvidia’s $30,000 chip. The GPU figure was revealed in an announcement about a new cooling product unveiled by Super Micro on Monday. As one of the biggest beneficiaries of the AI boom, Super Micro makes computers that companies use as servers for data storage, websites, AI training models…
Editor’s note: The Athletic 134 is a weekly ranking of all FBS college football teams.Every college football season contains a Chaos Week that throws these rankings up in the air. This year’s was bigger than any we’ve had in a long time.Four top-10 teams lost on Saturday, three of them to unranked opponents. Vanderbilt beat Alabama for the first time in 40 years, one week after I said the Tide were Thanos (whoops). Tennessee lost to Arkansas. Missouri got whipped by Texas A&M 41-10, and Michigan lost to Washington in a national title rematch.This is also the point where we…
Brace yourself. Market volatility will likely increase from here as the race for the White House enters its final weeks, according to Wolfe Research. Technical strategist Rob Ginsberg tracked the average move of the Cboe Volatility Index, or VIX , during a presidential election year. He excluded 2008, a year that saw unusual market movement as America grappled with the global financial crisis. Ginsberg’s data shows that the VIX, which has been dubbed Wall Street’s “fear gauge,” tends to spike into early November, which is when Election Day takes place. After that, the index has historically dropped as the month…
Check out the companies making headlines in midday trading: Generac Holdings — Shares of the maker of power generators surged 8% as Hurricane Milton intensified into a Category 5 storm . Amazon — The e-commerce stock lost 2.9% after Wells Fargo downgraded shares to equal weight from overweight and cut its price target, citing slowing growth and competition from Walmart. Pfizer — Shares of the drugmaker gained nearly 3%. Citing sources families with the matter, CNBC reported that activist investor Starboard Value has amassed a nearly $1 billion stake as it pursues a turnaround at the company. Insurance stocks —…
A relief rally in crude oil prices has instilled a positive short-term momentum shift behind energy stocks. We expect the rally to persist in the near term, noting WTI crude oil futures have cleared their 50-day moving average, and energy sector benchmarks have positive technical catalysts such as MACD “buy” signals. The Energy Select Sector SPDR (XLE) has cleared short-term resistance from the daily cloud model, denoted by the shaded area on the accompanying chart. The rally reversed XLE’s five-month downtrend and marked a successful test of long-term support from the rising weekly cloud model. The set-up is supportive of…
The McDonald’s logo is displayed at a McDonald’s restaurant in Burbank, California, on July 22, 2024.Mario Tama | Getty ImagesMcDonald’s has sued JBS, Tyson Foods and other leading meat processing and packing companies for allegedly conspiring for years to limit beef supplies, boosting their profits while causing the fast food giant to pay artificially higher prices.McDonald’s said in a lawsuit filed on Friday in Brooklyn federal court that the meatpackers, also including Cargill and National Beef Packing, collectively reduced their output to drive up industry prices since 2015.The lawsuit is the latest to accuse the world’s largest meatpackers of violating U.S.…
