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On December 9th, Piral Dadhania, an analyst at RBC Capital Markets, pointed out in a research report that luxury goods companies are expected to return to a growth trajectory next year, benefiting from creative revitalization. The analyst predicts the industry will achieve 5% organic revenue growth, with Brunello Cucinelli, Hermès, and Richemont leading the way. Market expectations for recovery are supported by creative direction adjustments by several high-end brands. Recently, several luxury brands have changed their creative teams to reignite consumer interest, and related new products are expected to launch in stores in 2026. The analyst also predicts that the strong performance of the jewelry category will continue next year.December 9th - Carsten Brzeski of ING noted in a report that following the summer rebound, German export data for October indicates that the countrys traditional growth engine still has a long way to go to achieve a sustainable recovery. Data released on Tuesday showed that German exports rose only slightly by 0.1% month-on-month in October, far below the 1.4% increase in September. "The volatility caused by US advance purchases seems to have passed, and German exports have returned to a new normal: weak growth," he pointed out. He added that US tariffs continue to put pressure on exports, and their full impact may not be fully apparent until the coming months. Furthermore, the share of German exports to the US in total exports has fallen from 10.5% last year to approximately 9.5% this year.On December 9th, US President Trump gave an interview to Politico at the White House on the 8th. When asked if he was considering granting more tariff exemptions to other goods that Americans consider overpriced, Trump answered "yes." When asked if he ruled out further tariff reductions on other goods, Trump replied, "Some goods will [have tariffs reduced], some I will raise. Whats happening right now is all because of tariffs, like all the car companies coming back to the US." Furthermore, regarding interest rates, when asked if an immediate rate cut was a litmus test for a new chairman, Trump answered "yes," but did not explicitly state that he had communicated with potential chairmen.The European Commission has briefed US officials on the antitrust investigation into Google.December 9th - According to Politico, US President Trump denied providing financial assistance to Hungarian Prime Minister Viktor Orbán. In an interview with the US news website, Trump stated, "No, I didnt promise it, but he did make a request."

Crypto lender Voyager Digital gets approval to return $270 million to customers

Alice Wang

Aug 05, 2022 15:16

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Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the U.S. Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


Voyager Digital Holdings Inc., a cryptocurrency company, has been granted permission by the US Bankruptcy Court in New York to restore $270 million in client funds, the Wall Street Journal reported on Thursday.


According to the Journal, Judge Michael Wiles, who is in charge of Voyager's bankruptcy, said the firm had "sufficient grounds" to back up its claim that clients should be given access to the custodial account kept at Metropolitan Commercial Bank.


The business did not immediately respond to requests for comment.


Voyager, one of several businesses that struggled after the widespread turbulence on the cryptocurrency market, filed for Chapter 11 last month.


Voyager reported that it had between $1 billion and $10 billion in assets and liabilities, as well as over 100,000 creditors, in its bankruptcy case.


The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) issued an injunction to the firm last week directing it to stop making "false and misleading" promises about the government's protection of its clients' cash.


The firm only had a bank account at Metropolitan Commercial Bank, according to the authorities, and none of the investors using its platform were covered by the FDIC.


During the COVID-19 epidemic, cryptocurrency lenders like Voyager saw a surge in business, luring depositors with high interest rates and convenient access to loans that conventional banks seldom ever gave. Lenders have suffered from the recent decline in cryptocurrency markets, which was brought on by the failure of two significant tokens in May.

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