Author: Arabian Media staff
Catherine Bloom calls her new workplace “a raw fashion studio”. The renovation of the 3,700 sq ft former Nordstrom Local store on Melrose Place in Los Angeles isn’t quite finished, but the 63-year-old is already welcoming clients — discreetly, via the back door, where they can easily valet.Those shoppers are mostly her longtime customers from Neiman Marcus, where Bloom spent decades as the reigning champion of personal shopping, with a fiefdom dubbed Bloom’s Room. She had been with Neiman Marcus since she joined as a part-time sales associate aged 18. It was major news, then, when rival department store Nordstrom…
Image: Getty Images/ For illustrative purposes Dubai has unveiled a global classification system aimed at distinguishing the role of humans and intelligent machines in the creation of research, academic, creative and scientific content, in a move that sets a precedent amid the growing use of AI and automation in content production. The Human–Machine Collaboration (HMC) classification system, developed by the Dubai Future Foundation, was approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Foundation’s Board of Trustees. “Distinguishing between human creativity…
Stay informed with free updatesSimply sign up to the UK tax myFT Digest — delivered directly to your inbox.The chief executive of Canada’s largest bank has warned the UK government against introducing a new wealth tax, saying it would compound the exodus of rich people from the country following the abolition of the non-dom regime. Dave McKay, the boss of Royal Bank of Canada, which has a large wealth management business in the UK, said that increasing the tax burden on the wealthy would “100 per cent” result in people leaving for “a lower tax jurisdiction”. “If you put in…
Donald Trump asked lawmakers whether he should fire Federal Reserve chair Jay Powell, and Wall Street saw a surprise comeback in investment banking fees. Plus, the UK’s inflation rate rose higher than expected last month, and yields on Japan’s 10-year government debt jumped ahead of Sunday’s election.Mentioned in this podcast:Donald Trump asked lawmakers whether he should fire Fed’s Jay Powell Goldman Sachs profits jump 22% after investment banking gains UK inflation unexpectedly rises to 18-month high of 3.6%Japan’s 10-year yield hits highest level since 2008 financial crisisCredit: Fox NewsSend in your Swamp Notes questions (Marc.Filippino@FT.com)Today’s FT News Briefing was produced…
Image: Air Arabia Air Arabia Abu Dhabi has added two new Airbus A320 aircraft to its fleet, bringing the total number of aircraft operated by the capital’s first low-cost carrier to 12, the airline announced on Wednesday. The fleet expansion is part of the carrier’s broader strategy to scale operations and strengthen Abu Dhabi’s role as a growing aviation hub. The airline also plans to add two more A320s by the end of 2025, which will raise total capacity by 40 per cent. The increase is intended to support growing demand for travel and aligns with the emirate’s economic and…
Even hedge fund royalty Bobby Jain is having a hard time starting a firm to compete with the industry’s giants.The former co-chief investment officer at Millennium Management tried to pull off the world’s largest hedge fund launch last year. He had to settle for the largest launch since 2018 with $5.3bn in commitments from investors, after falling short of the initial fundraising target of $8bn-$10bn.A year on from the start of trading, high costs and a slow build-up mean Jain Global is at the bottom of the pack of so-called multi-managers that it is seeking to challenge. “This is a…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s escalating attacks on the Federal Reserve have unsettled financial markets, with investors increasingly concerned about risks to the central bank’s independence and long-term ability to fight inflation. The US dollar, a proxy for the health of the world’s biggest economy, tumbled 1.2 per cent against a basket of peers on Wednesday immediately after reports saying the US president had asked a group of lawmakers whether he should sack Fed chief Jay Powell. Trump later insisted it was “highly…
One scoop to start: Diageo chief executive Debra Crew has quit with immediate effect, confirming an earlier report by the FT that she was to be replaced. The Guinness and Johnnie Walker owner is struggling with falling alcohol sales and waning investor confidence.And another thing: Canada’s Alimentation Couche-Tard has withdrawn its record-breaking $46bn proposal to acquire Japan’s Seven & i Holdings, bringing an end to its year-long campaign to pull the 7-Eleven owner to the negotiating table on friendly terms.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldIf there’s one thing that US President Donald Trump’s tariff vandalism has done, it’s to stress test trading partners’ ability to make and execute trade policy at speed. The latest put under this pressure is the EU, which reacted with startled affront last weekend when Trump suddenly threatened its exports with a 30 per cent tariff.This last week has shown us one situation where the EU’s trade policy machine has worked with persistence and precision. It has also revealed a…
Image: Supplied In today’s volatile global environment, travel risks have become a board-level concern for organisations headquartered in or operating out of the UAE and the Middle East. Whether responding to geopolitical instability, natural disasters, health outbreaks or climate-related disruptions, businesses must remain agile and informed to safeguard their most valuable asset: their people. Dubai and the broader UAE have long served as strategic hubs for multinational and regional companies, owing to their connectivity and business-friendly infrastructure. As a result, many organisations here have employees regularly deployed to — or permanently based in locations with elevated risk profiles. These include…