Strong sales in China drive Maybach’s double sales

Carmaker Daimler plans to double sales of its luxury Maybach vehicles, buoyed by strong demand in China. Daimler, which also owns Mercedes-Benz, sold a record 12,000 luxury Maybachs last year. They are used widely as limousines in China, the car’s most popular market. Prices start at $173,000 (£130,000) for the latest model. However, this can rise to more than $250,000 with the addition of optional extras like silver champagne flutes, buyers also often go for gadgets such as massaging calf rests and automated rear doors. The new Maybach model, based on a Mercedes-Benz S-Class, is designed for chauffeured trips, and … Continue reading Strong sales in China drive Maybach’s double sales

Covid-19 shakes up world’s most expensive city list

The world’s three most expensive cities are now Hong Kong, Zurich and Paris, according to a new cost of living report. Singapore and Osaka, which were equal first with Hong Kong last year, have slipped down the rankings, the Economist Intelligence Unit’s annual survey said Singapore’s prices fell because of an exodus of foreign workers due to the Covid-19 pandemic. Most Chinese cities have risen as US-China tensions push up prices, “Asian cities have traditionally dominated the rankings in the past years but the pandemic has reshuffled the rankings of this edition,” said Upasana Dutt, the EIU’s Head of Worldwide … Continue reading Covid-19 shakes up world’s most expensive city list

Purple-pink diamond sells for $26.6m in largest ever auction

An extremely rare purple-pink Russian diamond has sold at auction in Switzerland for $26.6m, the 14.8-carat diamond, dubbed “The Spirit of the Rose,” is the largest of it’s kind to be auctioned, as 99% of all pink diamonds are under 10 carats. It’s size, along with it’s colour and flawless internal structure, helped to attract the high price at Sotheby’s in Geneva, the name of the winning bidder has not been publicly disclosed, it was one of three stones in a collection by Russian mining company Alrosa, all named after famous Russian ballets. ‘The Spirit of the Rose’ was cut … Continue reading Purple-pink diamond sells for $26.6m in largest ever auction

Australia Post boss resigns over luxury watches scandal

The boss of Australia Post has resigned after authorising a A$20,000 (£10,500; $14,000) gift of luxury watches to four employees as a work reward, Christine Holgate, chief executive of the national postal service since 2017, had been strongly criticized for what many saw as a waste of public money. The gifts of Cartier watches in 2018 were revealed by a parliament inquiry last month, prompting an investigation, Prime Minister Scott Morrison said he had been “appalled” by the spending. Speaking last month, Mr Morrison said the British business executive “should go” from her role. “Every dollar that goes to Australia … Continue reading Australia Post boss resigns over luxury watches scandal

Dubai breaks the record for the world’s largest fountain

Fireworks explode over The Palm Fountain, world’s largest fountain opening ceremony which breaks the Guinness World Record at the Pointe in Dubai. Under a sky lit with fireworks, masked spectators gathered to watch Dubai break the record for the world’s largest water fountain. The new Palm fountain is located on the man-made palm-shaped island Palm Jumeirah and covers an area of 1,335 square meters. It has more than 3,000 LED lights, 7,500 nozzles to provide the mist and the fog and it can shoot water up to 105 meters high. The dancing fountain is not just a source of entertainment, … Continue reading Dubai breaks the record for the world’s largest fountain

Wine distributor gets 2 years in prison for fraud scheme involving ‘Shark Tank’ product

Acting U.S. Attorney Seth DuCharme announced the wire fraud charge against Joseph Falcone as part of a scheme involving the show “Shark Tank.” A former wine and liquor distributor was sentenced to 24 months in prison on Friday for using the show “Shark Tank” as part of a scheme to defraud investors, according to federal prosecutors with the Eastern District of New York, Joseph Falcone, 60, formerly operated the 3G’s VINO LLC, a wine and liquor distributor based in Bethpage and Farmingdale, New York. Among other products, 3G’s distributed a single-serving wine in a sealed glass, which had previously been … Continue reading Wine distributor gets 2 years in prison for fraud scheme involving ‘Shark Tank’ product

H&M fined for breaking GDPR over employee surveillance

H&M has been fined €35.3m (£32.1m) for the illegal surveillance of several hundred employees. The company kept “excessive” records on the families, religions and illnesses of its workforce at its Nuremberg service centre, the German data protection watchdog found. The retailer has accepted full responsibility and plans to compensate employees, it is the second-largest fine a single company has faced under EU GDPR rules, last year, the French data regulator, CNIL, fined Google €50m for breaching the General Data Protection Regulation. H&M’s privacy violations included extensive staff surveys, with details of holidays, medical symptoms and diagnoses for illnesses, the year-long … Continue reading H&M fined for breaking GDPR over employee surveillance

Flawless 102-carat diamond sold for $16m

A rare 102-carat white diamond has sold at auction for $15.7m (£12.1m) in what experts say is a “bargain”. The gemstone went to an unnamed telephone bidder. The auction was held online by Sotheby’s in Hong Kong due to the pandemic, the diamond was taken from a 271-carat stone which was discovered at a Canadian mine in 2018, only seven other diamonds larger than 100 carats and of the same quality have gone under the hammer. The stone did not have a reserve price, a minimum price that the seller is willing to accept for an item, it is the … Continue reading Flawless 102-carat diamond sold for $16m

World famous Japanese designer Kenzo Takada dies from Covid-19

The Japanese founder of popular fashion brand Kenzo has died aged 81, from complications linked to coronavirus, tributes have poured in from all across the world for Kenzo Takada who died at the American hospital in Paris Known for his bright graphics, jungle inspired prints and eclectic use of colour, he was the first Japanese designer to gain prominence on the Paris fashion scene. He settled in France in the 1960s and spent the rest of his career there, with his “nearly 8,000 designs”, the Japanese designer “never stopped celebrating fashion and the art of living”, his spokesman said. Paris … Continue reading World famous Japanese designer Kenzo Takada dies from Covid-19

‘Flawless’ 102-carat diamond may join world’s most expensive jewels

Credit: Sotheby’s An exceptionally rare 102.39-carat diamond may become one of the most expensive stones ever to sell at auction when it goes under the hammer in Hong Kong next month. Although auction house Sotheby’s declined to provide a pre-sale estimate, diamonds of similar size and quality have previously attracted bids between $12 million and over $30 million. Cut from a 271-carat rough diamond discovered in Ontario, Canada in 2018, the oval stone has achieved top rankings in each of the “four Cs”cut, color, clarity and carat weight — by which a diamond is judged, the auction house said. It has … Continue reading ‘Flawless’ 102-carat diamond may join world’s most expensive jewels