Author: Niccolo Ricci, CEO, Stefano Ricci In 2023, the luxury sector demonstrated robust growth, despite facing global economic complexities, an overall slowdown in consumer demand, and inconsistent performance across different markets. Bain & Company reported a global market value of €1.5trn, with personal luxury goods reaching €362bn – a four percent increase at current exchange rates and eight percent at constant rates. Notably, menswear emerged as a rapidly expanding segment, driven by the demand for high-quality, classic pieces reflecting brand heritage – a trend corroborated by our group’s recent results. Entering 2024, the luxury sector faced additional hurdles, including…
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  Author: Manuela Francisco, Global Director for Macroeconomics, Trade and Investment, World Bank From the Covid-19 pandemic to advanced-economy interest-rate hikes, developments over the last few years have left many developing economies struggling to repay their debts. But the problem might be even bigger than the world realises, as many sovereign debts are hidden, undisclosed, or opaque. This prevents policymakers and investors from making informed decisions. Some low-income countries have made progress on disclosing their debts: the latest Debt Reporting Heat Map shows a rise in disclosure from 60 percent in 2021 to 80 percent today. But some countries have…
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  Author: Alex Katsomitros, Features Writer For fans of American football used to watching advertisements about fast food chains, the last few months have been a crash course in banking regulation, with commercial breaks during NFL games often featuring ads that warn them about sudden hikes in their mortgage rates. And that is just the least aggressive part of a campaign the US banking industry has launched against a reform in capital rules, announced by regulators last summer. “I doubt that people seeing those ads have any idea what they are talking about,” said Michael Ohlrogge, an expert on financial…
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Rooftop solar panels destroyed by the violent wind in Nantong, China  Author: Sara Ver-Bruggen, Features Writer Solar is the fastest-growing energy source in the world. Between 2013 and 2022, 46 percent of global renewable energy investments flowed into solar photovoltaics, according to the International Renewable Energy Agency (IRENA), which also highlighted that in 2022 solar PV accounted for 60 percent of this investment, around $300bn. But as extreme weather events increase in frequency, insurers and lenders want assurances that potential threats to productivity, performance and resilience of these assets are being addressed. Towards the end of the last decade, a…
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  Interview with: Prof. John Coates, Harvard Professor As a Professor of Law and Economics at Harvard Law School, as well as former Acting Director for the Division of Corporation Finance for the US Securities and Exchange Commission (SEC), John Coates doesn’t mince his words when it comes to regulating the wildest beasts of modern capitalism. In his latest book, The Problem of 12: When a Few Financial Institutions Control Everything, he explores the origins of a quiet revolution in American finance. ‘Big Four’ index funds such as Vanguard and BlackRock control more than 20 percent of the votes of…
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  Author: Vikki Davies, Features Writer Despite its meteoric rise, the cryptocurrency market operates within a regulatory grey area in many jurisdictions. The decentralised and borderless nature of cryptocurrencies poses significant challenges for regulators, who must grapple with issues ranging from investor protection to money laundering and financial stability. James Burnie, a partner at legal firm Gunner Cooke advising on financial services regulation says: “The nature of the Web3 industry has been intrinsically global, as it is easier than ever for a company based in one jurisdiction to sell to clients in another. As regulation has come in, originally this…
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  Author: Peter Vindevogel, CEO, The Park Playground Today’s business leaders and consumers alike are facing turbulent economic times. The goal of any business is to be profitable but there is no doubt that several recent world events have made it incredibly difficult for some. Amid these challenges, businesses are striving for growth in 2024 but to do so requires the prioritisation of customer satisfaction. Across the leisure industry, businesses ranging from hospitality through to theme parks have to adapt their ROI models to rapidly changing guest expectations. Today’s consumers want shared entertainment experiences that offer something unique every time.…
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This article is about the economic effects of immigration, so as a Canadian citizen, let me begin with the customary acknowledgement that I am totally pro-immigrant! Yes I was born in Canada, but my parents were immigrants. My wife is an immigrant. Even one of my daughters was born outside the country and technically immigrated. And immigration is a difficult subject anywhere because politicians often deflect problems by blaming them on migrants. Anyway, now that is out of the way, and purely from the point of economics – why is Canada trying to ramp up its population growth through immigration?…