
France's Quiet Quitters Get Louder This Summer
We're almost into the second week of August, which means fewer cars on the streets of Paris, more boulangeries with the shutters down and more out-of-office replies piling up. Not all politicians have fled to the beach, though, with increasingly unpopular Prime Minister Francois Bayrou putting in the hours to try to win the French over to his plans for €44 billion in savings to get the public deficit under control. He's taken to social media to drive home the message that France's debt pile will endanger the country if it's not tackled.
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New Discoveries Abound for Italian Marble and Fine Stone Companies
MILAN — Since the ancient Romans began excavating marble more than 2,000 years ago, the average price of Italian natural stone per ton has reached a record 1,016.4 euros. This new height is the culmination of a path intertwined with economic and geopolitical hurdles to which the sector has become accustomed. 'This achievement underscores how our product consistently ranks first in terms of material quality and craftsmanship,' trade show organizer Adolfo Rebughini, general manager of Veronafiere, told WWD. More from WWD Interior Designer Craig Anthony Longhurst Opens Furniture and Art Gallery EXCLUSIVE: Cabana Magazine Announces Kate Berry as First U.S. Editor These Italian Niche Brands Are Updating Made in Italy Credentials for the Chicago Collective Audience Veronafiere, in the Italian city of Verona, is gearing up to welcome 1,400 exhibitors from 50 countries and more than 50,000 operators and professionals from 150 nations to Marmomac, the international trade show for the stone supply chain. At Marmomac, which will take place Sept. 23 to 26, Italian white marble takes center stage as one of the most successful products internationally, Rebughini said. The demand for classic Italian marbles, from Carrara to Calacatta, is experiencing significant growth in the luxury construction sector, both in private settings and in the hotel and spa industries. Especially in China and the Gulf region where bright interiors contrast with the warm climates. Highly prized colored marbles are also in great demand: Rosso Verona, Travertine, Perlato di Sicilia, Pietra Serena, Trani Bronzetto, Palissandro Botticino and Porfido. According to fine stone industry consortium Confindustria Marmomacchine, exports of Italian stone materials in 2024 rose 3.8 percent in volume, reaching 2.1 million tons. In value terms, exports reached 2.18 billion euros, marking a 5.8 percent rise compared to 2023. Raw materials, which account for 21 percent of exports, increased by 10.7 percent, while exports of semi-finished and processed materials (which make up 79 percent of the total) grew by 4.5 percent. The U.S. is the industry's top market according to Confindustria Marmomacchine. In 2024, exports of processed Italian natural stone to the U.S. rose 14 percent to 542 million euros. Germany ranked second with 125.2 million euros worth of exports, down 1.7 percent, while France was up 9.5 percent to 115.6 million euros. Emerging markets like Saudi Arabia featured prominently with 84.5 million euros, surging significantly, up 37.2 percent. China was the top consumer of raw materials with exports totaling 229 million, up 27 percent, followed by India at 46.7 million, down 14.7 percent. Italian companies, in the meantime, are eagerly exploring new geographical areas that could serve not only as markets but also as sources of raw materials and partners for joint development. In particular, East Africa, where countries like Ethiopia, Kenya and Tanzania offer underdeveloped deposits and a rich geological diversity, are one such opportunity, Rebughini explained. The Middle East, particularly Saudi Arabia, is not only a major buyer but also a region investing in the exploration and development of its natural resources. Finally, in Latin America, there are countries that present a growing market for businesses. In particular, Brazil boasts more than 1,200 types of marble, quartz, granite and ornamental stones. Numerous Italian companies, he said, are already operating mining sites there. As a result, Veronafiere also organizes Marmomac Brazil in São Paulo, a leading trade fair for Central and South America, as well as for operators in the U.S. The 59th edition of Marmomac aims to highlight all the 'veins' of the storytelling of fine stone — from production, to technological advances and how it is refined from a raw block to finished material. In an effort to compete with more design-forward events, the 2025 layout of the The Plus Theater, the curatorial Pavilion of the fair, has been inspired by Swiss-French architect Le Corbusier's Plan Voisin, an urban model for the center of Paris, drawn between 1922 and 1925. Looking ahead, the marble and stone market exports to foreign markets are expected to rise 4 to 6 percent in value terms in 2025. Risks to that forecast include unexpected tariffs and, or a worsening geopolitical situation. It is challenging to make a realistic forecast today due to the uncertainty surrounding U.S. economic policy, Rebughini commented, adding that the recent EU tariff that fixed duties at 15 percent will still spur a decline in export volumes to the U.S. Best of WWD Green People: How Sustainable Material Entrepreneurs Move Differently Simple, Recycled, Local: Brandart's Sustainable Approach to Packaging A Polyester Alternative Launches to Market — Can It Transform the Textile Industry?
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Diageo plc (DEO): A Bull Case Theory
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Yahoo
2 hours ago
- Yahoo
Mechanic reveals ‘expensive' cars Aussies should avoid buying: ‘Don't last'
An Aussie mechanic has revealed the popular car brands he recommends people steer clear of unless they are prepared to be hit with extra costs. He said the brands 'don't last' as long and are more expensive to service and maintain. Talal Almasri has been a mechanic for more than 15 years and said he'd seen his fair share of car brands. The 42-year-old Sydney mobile mechanic, who works on Airtasker, told Yahoo Finance he generally advised people to avoid buying European cars like Volkswagen, Mercedes, Audi and BMW. Almasri said European cars were built for colder environments and were 'very expensive' to get parts for and more expensive to service. RELATED Major EV warning as true battery range for big brands like Tesla and BYD exposed ANZ hikes home loan interest rates in 'surprise' move ahead of RBA cash rate meeting Little-known Centrelink perk offers Australian students free flights 'The brakes will cost you more, the maintenance will cost you more, parts will be on order and you have to let it sit there for a few days, for example, for the mechanic to order the part,' he said. 'As long as you're prepared [to pay that extra cost]. If you're not prepared, that's when I say don't buy one. If you're on a budget with your expenses, the European car is not going to help you.' Almasri said one of his customers, for example, was recently quoted $3,000 to do the front brake pads on her Mercedes AMG GLC63. Almasri said he would instead recommend people go for a Japanese car, such as a Toyota, Nissan, Mazda or Mitsubishi. 'Parts are available, they are reliable and they do last in the Australian climate as long as you maintain them,' he said. Almasri said customers often told him they didn't like the more 'basic' Japanese cars and preferred the look and feel of European cars. 'As long as you're happy to pay the maintenance cost, that's all that matters. It's going to cost you more, the parts, the labour, everything's more expensive,' he said. Major car mistake millions of Aussies are making No matter which car brand you go with, Almasri said the key to making sure your car lasts was regular maintenance. 'If you don't maintain it, it will blow up, even if it's a Toyota. Toyota is unbreakable as long as you maintain it,' he told Yahoo Finance. 'It's the people that leave it overdue and wait and wait and wait, this is where you are going to have problems, where you're gonna get something damaged and it's gonna cost you more in the long term.' Recent Finder research found that one in four motorists had avoided taking their car in for a scheduled service due to financial constraints. Finder insurance expert Taylor Blackburn said many households were finding it harder to prioritise car maintenance given the rising cost of living. 'Keeping a car on the road is becoming increasingly expensive due to rising costs in maintenance, fuel, and insurance," he said. 'Ignoring minor car troubles, like a cracked hose or a dirty filter, might seem like a way to save money now, but these cheap fixes can quickly escalate into expensive repairs if left unaddressed." Almasri recommended servicing your car every six months or every 10,000 kilometres, whichever comes first. He also urged drivers not to wait until their fuel tank was nearly empty before filling up. 'You've got to fill up as soon as, minimum, you have a quarter of a tank. Do not run it lower than that because that's when you can create problems from the bottom of the fuel tank and the fuel pump can get damaged by sucking up usually dirt at the bottom of the fuel tank,' he said. 'When people drive with the fuel light on, I would not recommend that. Do not do that, that's very dangerous.'