Saks acquisition of Neiman Marcus led to bankruptcy

For more than a decade, the former executive chairman of Saks Global dreamed of adding Neiman Marcus to his collection of legacy department stores, believing the combined entities would create a luxury powerhouse strong enough to defy changes dragging down the industry. Instead, Richard Baker’s $2.7 billion acquisition of Neiman Marcus in 2024 ultimately plunged…

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Bank of Korea decision, Nifty 50, India markets

Sunset scene of light trails traffic speeds through an intersection in Gangnam center business district of Seoul at Seoul city, South Korea Mongkol Chuewong | Moment | Getty Images Asia-Pacific markets traded largely lower Thursday as investors await the Bank of Korea policy decision. Japan’s Nikkei 225 slid 0.52%, while the Topix tumbled 0.33%. South Korea’s…

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Travelers are seeking unique experiences

A growing number of travelers want more from their hotels than a soft bed and clean place to sleep. They want hotels that reflect their interests — be it art, music, fashion or work — and allow them to mingle with other travelers who share these passions too. That’s given lifestyle hotels a boost, with…

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