A Saks Global bankruptcy would have a significant impact on independent luxury shoe designers and fashion houses that derive a large percentage of sales from the footwear category. “In some cases, footwear represents 40 percent to 50 percent of the designers’ businesses,” said Gary Wassner, CEO of Hilldun Corp., the factoring firm that works with many of the luxury brands and designers who sell to the retail banners Saks Fifth Avenue and Neiman Marcus. More from WWD According to Wassner, these companies ...

Oil closed out the year with its steepest annual loss since 2020 as the market confronts wide-ranging geopolitical risks and steadily rising supplies across the globe. A punishing surplus is expected to weigh on prices in 2026. West Texas Intermediate fell 0.9% to settle at $57.42, completing a 20% decline for the year. In the short-term, traders are focused on an upcoming OPEC+ meeting and President Donald Trump’s policies toward major producers Russia, Iran and Venezuela. Most Read from Bloomberg But ...

Financial anxiety is a common trope used towards Gen Z. Despite the stereotype, a majority of Gen Z individuals are actively seeking to build savings and reduce debt, according to Adviserpedia. It’s easy to believe that Gen Z is only facing one financial threat when, in fact, they’re facing a variety of risks that may hinder retirement planning. Wading through those problems can make saving for retirement challenging at best. GOBankingRates asked two financial experts for the biggest threats to Gen Z’s ...

Gold rose, approaching record levels, as investors looked ahead to US inflation data and monitored escalating tensions in Venezuela. Silver climbed to a fresh peak, and platinum jumped to the highest since 2008. Bullion traded near $4,350 an ounce, recovering from a modest decline in the previous session that snapped a five-day winning streak. Inflation numbers due Thursday will be watched closely for clues on how the Federal Reserve’s appetite for further rate cuts might be impacted. Ahead of the release ...

Treasuries inched up before the US reports jobs data, with investors seeking to gauge the scope for interest-rate cuts next year. The two-year yield slipped to near its lowest in more than a week as investors bet a softening jobs market may convince the Federal Reserve to deliver more rate cuts in coming months. Non-farm payrolls are expected to show an increase of 50,000 jobs in November, and a weaker reading may bolster the case for more easing. Most Read from Bloomberg “Today’s nonfarm payrolls repo ...

US labor costs rose in the third quarter at the slowest pace in four years on an annual basis, adding to evidence that a softening job market is helping limit inflationary pressures https://t.co/JggTkizKFo ...

Welcome back to Market on Close. I'm Marley Caiten here in Chicago alongside Sam Bodis at the New York Stock Exchange. We'll close out our show with our final thoughts like we usually do.Today's session, AI was a big theme. Apple changing out its head of AI, Sam Alman, reportedly sounding an alarm for Code Red. Mestro releasing some new models.Let's break down some of those stories. at Apple. The current head of AI is retiring and being replaced by an AI veteran with a history at both Microsoft and Google w ...

Leadership Changes - Hilton Food Group CEO Steve Murrells is stepping down after two years, with the board stating it is the right time to search for a new leader [1] - Mark Allen will take over as executive chair while the board considers CEO succession, bringing significant experience in the food industry and public companies [2] Financial Position and Outlook - The company is in a strong financial position, but has downgraded its 2025 profit forecast and indicated a difficult outlook for the new financial year [3] - Current trading remains challenging, but no changes were made to the guidance provided earlier in November [3][6] International Expansion - Murrells highlighted the expansion of Hilton Food's international operations, including a manufacturing plant in Canada and a protein supply deal with Walmart [4] - The company has ambitions to expand into Australia and Southeast Asia, as well as a joint venture in Saudi Arabia for meat supply [5]

Core Viewpoint - The Zacks Transportation - Rail industry is facing multiple challenges, including tariff-induced economic uncertainties, inflationary pressures, high interest rates, and supply-chain disruptions. However, Union Pacific Corporation and CSX Corporation are positioned to navigate these challenges effectively, aided by declining fuel costs which support bottom-line growth [1]. Industry Description - The Zacks Transportation - Rail industry comprises railroad operators that transport various freight types across North America, focusing on logistics and supply-chain services. Revenue primarily comes from freight, with some companies also earning from rail-related services like repairs and land sales [2]. Factors Deciding the Industry's Outlook - Strong financial returns for shareholders are evident as companies increase dividends and buybacks, reflecting financial strength. CSX announced an 8.3% quarterly dividend increase, while Union Pacific raised its quarterly cash dividend by 3% to $1.38 per share [3]. - The decline in oil prices, which fell nearly 20% from the beginning of 2025, is a positive factor for the industry as it reduces fuel expenses, a significant cost for transportation companies [4]. - Economic uncertainty persists due to tariff policies that disrupt supply chains and increase costs, creating challenges for the industry and affecting investor sentiment [5]. Industry Performance and Valuation - The Zacks Transportation - Rail industry currently holds a Zacks Industry Rank of 211, placing it in the bottom 13% of over 250 Zacks industries, indicating gloomy near-term prospects [6][7]. - Over the past year, the industry has underperformed the S&P 500, declining 8.3% compared to the S&P 500's increase of 12.9%, while the broader sector fell by 15.5% [9][10]. - The industry is trading at a trailing 12-month price-to-book (P/B) ratio of 5.82X, lower than the S&P 500's 8.19X but above the sector's 3.12X [13]. Company Insights - Union Pacific, based in Omaha, NE, is well-positioned for growth due to stable e-commerce demand, cost-cutting efforts, and a strong track record of earnings surprises, having surpassed the Zacks Consensus Estimate in three of the past four quarters [17][18]. - CSX, located in Jacksonville, FL, anticipates total volume growth for 2025, focusing on operational excellence and efficiency initiatives, with capital expenditures projected at $2.5 billion this year [21][22]. CSX has also surpassed the Zacks Consensus Estimate in two of the past four quarters [23].

Wage Growth - UK wages barely grew last month [1] Inflationary Pressure - The survey results offer the Bank of England more confidence that inflationary pressures are easing [1]