Good morning,
Many economists say the U.S. has avoided a recession for now, but there is one potentially ominous sign: a luxury goods slowdown.
LVMH—which owns brands like Louis Vuitton, Christian Dior, Fendi and Hennessy—disappointed investors with its quarterly results last week, with revenue growth well below what it saw in 2023. Despite high price tags, luxury items have historically seen strong sales during various economic conditions, as people shop for status and quality.
The slowdown could mean that even top-level consumers are being cautious about spending. To return to growth, luxury brands will have to prove their worth to consumers and possibly even cut prices.
Federal Reserve Bank Chairman Jerome Powell
Government bond yields reached their highest levels since mid-summer Tuesday, continuing a surprising trend after the Federal Reserve slashed interest rates last month. Treasuries symbolize the market’s expectations for monetary policy, and the November election could put further upward pressure on bonds, as the results could determine whether federal borrowing surges.
Researchers have discovered a collection of lithium—a primary component in lithium-ion electric vehicle batteries—in Arkansas that, if recovered, could far exceed the projected world demand for lithium in car batteries in 2030. Demand for lithium is growing exponentially due to the increased adoption of electric vehicles, and the Arkansas mine represents 35% to 136% of the current amount of lithium estimated to be in the U.S.
Many brands promise good customer service, but how many deliver? Forbes’ second-annual Best Customer Service 2025 list relies on a wide-ranging survey in which people provided 4.4 million ratings of the customer service they received from their interactions with more than 3,500 brands. The top 300 made the list, led by The UPS........