EXCLUSIVE Inside Michael Jordan's Italian getaway as he puffs a cigar on $115m superyacht... and a surprising confidant is revealed
The NBA legend, 62, touched down on the picturesque Italian island with his cohort of nearest and dearest Sunday afternoon as the family kickstarted their summer vacation.
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Reuters
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Fitch maintains Romania's investment-grade credit rating despite budget strains
Aug 15 (Reuters) - Fitch maintained Romania's coveted investment-grade credit status on Friday, leaving its rating at "BBB-" with a "negative" outlook due to ongoing pressures on the country's finances. "Romania's 'BBB-' rating is supported by EU membership and related capital inflows that support income convergence and external finances," Fitch said. In May, centrist Nicusor Dan won the presidential election runoff, and the new coalition government has recently pushed through a series of tax hikes and spending measures to try and cut the European Union's largest budget deficit.
Daily Mail
23 minutes ago
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Shocking Ikea flyer from 1985 shows VERY surprising prices... but not everything is what it seems
Swedish homewares giant Ikea is a household name and somehow, 40 years later after their first store opened in the U.S., some of their most popular furniture is even cheaper. A resurfaced flyer from 1985 has Allen-key enthusiasts agog at the price differences, with some of their most-loved furniture cheaper than what it was decades earlier. Shared to Reddit, the user showed four popular products and the price from the catalogue in comparison to what they are on the Ikea website in 2025. The first was the Billy bookcase - a staple in many houses all around the world. In 1985, the load-bearing piece piece retailed for $82, and now has decreased in price, selling for $69.99. The next piece was the simple Lack side table, selling for $25 in 1985. In 2025, the loved-item is retailing now for $9.99. A Klippan loveseat 40 years ago was a tad puffier, but a more streamlined model is now almost $100 cheaper, at $299. Lastly, the catalogue showed an armchair for $148, with the Poäng chair now only $69. The furniture giant pointed out their price cuts in an advertisement published in 2015, which celebrated 30 years of the store being in America and showed off their low prices. While the prices have risen in the last 10 years, they are still lower than the 1985 prices. Despite the cheaper prices, many users chimed in declaring the quality of the furniture is far worse in 2025. 'Surprised how everyone's complaining that IKEA furniture is made more cheaply now than it used to be,' commented one user. 'Like yeah, sure it is, but how many companies have made their product intentionally worse over the years while ALSO doubling or tripling the price? The fact that prices haven't changed much shows at least some integrity on their part.' 'I agree. And while IKEA doesn't make the most durable products on earth, they definitely still make better stuff than comparably-priced products you get at other stores (Amazon, Walmart, etc),' chimed in another. 'You can still get a decent, weighty dresser for $100 at IKEA, best alternative you'll find on Amazon is some super thin particle board with those dreadful fabric pseudo-drawers.' Others declared the Swedish furniture had stood the test of time. 'In general I think IKEA suffers from the reputation flat-pack furniture has that is caused by experiences with flat-pack made by literally any company other than IKEA,' one happy customer wrote. They continued: 'I've bought cheap non-IKEA flat-pack desks and cabinets and it's barely cheaper and so much worse. The parts don't fit together as well, the joints aren't as sturdy, and the instructions are inevitably so much harder to follow assembling it.' The showed four popular products and the price from the catalogue in comparison to what they are on the Ikea website in 2025 (pictured) In June, Ikea announced it was closing more of its smaller-format stores in both the UK and California, as the global retail shakeup continues to claim big names. Launched in 2023, the concept aimed to give customers a more tailored experience — with smaller showrooms where shoppers could meet with design specialists, place custom orders, and collect items. However, the company says the format no longer fits customer demand. The Swedish furniture giant confirmed it is shutting down three of its Plan & Order Points locations this month — two in the UK and one in the US. The Liverpool and Stockport stores closed last week, and the final US location in Long Beach is closing its doors forever in June. The first Ikea store opened in 1958 in Sweden, and expanded to the US in 1985. It has grown into a furniture empire and operates approximately 485 locations, 74 being in the US.
Daily Mail
an hour ago
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MAGGIE PAGANO: We are all paying the price for Labour
Eating cake rather than bread is not an option. Blame my Viking-cum-Italian genes. But there are two household staples that we are never without: tealights and olive oil. My addiction is such that I'm eagle-eyed about hunting down the best prices. But here's the rub. It doesn't seem to matter whether you are shopping for candles at Homebase or B&M, or Waitrose or Tesco for liquid gold – prices are soaring again having fallen back after inflation peaked nearly three years ago. As any regular shopper will tell you, so are the prices of most foods and household products. June's annual food inflation rate was up at 4.5 per cent, the third month in a row that prices rose, and the highest since the beginning of last year. Inflation figures for July out next Wednesday are expected to show further jumps. So it's hardly surprising that 85 per cent of adults surveyed by the Office for National Statistics say that the cost-of-living crisis is the most important issue facing the UK today – ahead even of the NHS. About six in ten adults also report that costs have risen in the last month – that's more people citing price rises than in July last year when Labour took office. This time around, rising prices can't be blamed on either the after-effects of the pandemic, which crippled supply chains around the world, or indeed Russia's invasion of Ukraine, which saw the price of wheat and sunflower oils, as well as energy, rocket into the stratosphere. Today's price rises, however, are mainly home-grown, the direct result of Labour's tax hikes. Prices have further to climb because of the Budget tax rises, as even the Bank of England has admitted. The British Retail Consortium (BRC) has also warned that the full impact of the last Budget has yet to fully filter through to prices. Labour's policies will add £7billion to retailer costs this year, ranging from higher employment costs to the new packaging tax. The BRC also says that if this autumn's Budget attacks retailers again, with its planned higher business rates threshold on 4,000 larger stores, then it will be poorer families which will be hit hardest. At the same time, the UK's farming industry is being whacked on all fronts, threatening the country's food security. The latest smack in the face is Labour's decision not to give any financial aid to the bioethanol industry after President Donald Trump's tariff hike. Smaller farm owners are being devastated by the new inheritance tax rules and are shutting down. Dairy farmers are closing because of higher costs and worker shortages, opening the door to more imports and less competition. Even the price of bread is now in question. The planned merger between ABF's Kingsmill and Hovis is going to be an interesting test for Labour to chew on. Both Kingsmill and Hovis lose money. Together they would lead the market in sliced bread, putting them ahead of sector leader Warburtons. What's Labour to do? On the one hand the Government will want to show its support for business, giving a nod to the Competition and Markets Authority to pass the takeover. But that means big job losses and a potential monopoly position for its breads, the price of which they may be mindful of has so often led historically to riots. Telling people to eat cake is not an option.
