Latest news with #TimesSquare
Associated Press
13 hours ago
- Business
- Associated Press
Macau-Based Epsium Enterprise Limited Celebrates Nasdaq Listing with Closing Bell Ceremony
EPSIUM ENTERPRISE LIMITED (Nasdaq: EPSM) ('EPSIUM' or the 'Company'), a Macau-based importer and wholesaler primarily of high-end alcoholic beverages, today announced that it celebrated its recent Nasdaq listing by ringing the Nasdaq Closing Bell on Thursday, May 29, 2025. The ceremony commemorates EPSIUM's successful transition to a publicly listed company, following the completion of its initial public offering on March 26, 2025. EPSIUM's ordinary shares began trading on the Nasdaq Capital Market under the ticker symbol 'EPSM.' The IPO raised gross proceeds of US$5.0 million before deducting underwriting discounts and related expenses. Held at the iconic Nasdaq MarketSite in Times Square, New York City, the Nasdaq Closing Bell Ceremony is a longstanding tradition that recognizes corporate milestones and achievements. EPSIUM's leadership team, including CEO Mr. Son I Tam, was joined by employees, partners, and representatives from the professional services community to mark the occasion. Mr. Son I Tam, CEO of EPSIUM, commented: 'This is a proud milestone for our company — and a meaningful moment for a business born in Macau to step onto the global stage. This achievement belongs to every teammate, every investor, and everyone who believed in us. The world today is full of uncertainty — but also full of opportunities. I've learned that success isn't just about speed, but about direction and staying true to our values. I will always put our investors first and lead with integrity and responsibility.' EPSIUM plans to allocate the net proceeds from the IPO to several key initiatives: approximately 60% toward mergers and acquisitions or investments in complementary businesses, 10% toward sales and brand building, 20% for general corporate purposes, and the remaining 10% as discretionary reserve under the direction of the board of directors. Founded and headquartered in Macau, EPSIUM has developed a strong presence in the high-end liquor market, serving premium hospitality and private clients. The Company has also benefited from the business-friendly policies of Macau, which continue to support diversified economic development and cross-border business growth. 'The support of Macau's stable regulatory environment has played a crucial role in EPSIUM's growth journey,' said Mr. Son I Tam in interview ahead of the ceremony. 'As a gateway between mainland China and international markets, the Greater Bay Area provides EPSIUM with strategic advantages for regional expansion and long-term value creation. Our Nasdaq listing is a new beginning—we will continue to build on our foundation and tell the story of Chinese liquor to a global audience.' The ceremony was livestreamed on the Nasdaq website at About EPSIUM ENTERPRISE LIMITED Through its Macau operating entity, Companhia de Comercio Luz Limitada ('Luz'), a limited liability company organized under Macau laws in 2010, EPSIUM is engaged in importing and wholesaling primarily alcoholic beverages in Macau. Through Luz, the Company imports and sells a broad range of premium beverages, primarily alcoholic beverages and, in 2022, a small quantity of tea and fruit juice. The alcoholic beverages the Company sells include Chinese liquor, French cognac, Scottish whiskey, fine wine, Champagne, and other miscellaneous beverage alcohol. Sales of Chinese liquor is by far the Company's most significant operations, and the Company is a top wholesaler of high-end Chinese liquor in Macau. For more information, please visit the Company's website: Forward-Looking Statements Certain statements in this press release are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as 'approximates,' 'believes,' 'hopes,' 'expects,' 'anticipates,' 'estimates,' 'projects,' 'intends,' 'plans,' 'will,' 'would,' 'should,' 'could,' 'may' or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the 'Risk Factors' section of the Registration Statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Media Contact Company Name: EPSIUM ENTERPRISE LIMITED Contact Person: Investor Relations Department Email: Send Email City: New York Country: United States Website: Source: LianPR
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
It's Summer Vacation Time. Tourists Are Saying No to America.
The summer vacation season has officially begun. Missing this year: the Canadians, Europeans and other foreign travelers who have flocked to America's tourist hot spots in recent years. 'There used to be thousands of people from Canada. They would give me Canadian dollars and I would change it at the bank,' said Omar Tallat, 35 years old, who runs a corn dog stand near Times Square. 'This year, business is very bad.'
Vogue
7 days ago
- Entertainment
- Vogue
How Patti Came Under Fire
What a beautiful day! Patti LuPone, fresh off the set of And Just Like That…, has caused an internet kerfuffle with her astute (and deliciously eloquent) jabs at co-stars, former lovers, theater-goers, and even Times Square pedestrians in her recent profile in The New Yorker. LuPone is the darling of Broadway, her standout turns as Eva Perón in Evita and Rose in Gypsy paving the way for an illustrious career onstage and near-constant run-ins with her stage-sharers. Even the most vegan among us can't resist a bleeding slice of Broadway beef: Andrew Lloyd Webber, President Trump, and Madonna have all been targets of her acerbic commentary. Yet in the profile, LuPone levels her gaze on a new subject: former friend (and six-Tony Award winner) Audra McDonald. The pair apparently fell out years ago, and when asked for her opinion on McDonald's Gypsy revival, LuPone stared 'in silence for fifteen seconds,' looked out the window, and said: 'What a beautiful day.' So far, so LuPone, yet the revelation has touched a nerve and reopened an old rift, including LuPone being accused of 'racially microaggressive' behavior for making noise complaints about the Alicia Keys musical Hell's Kitchen while she was starring with Mia Farrow in The Roommate. On Instagram in November, Kecia Lewis, of Hell's Kitchen, called LuPone's protestations 'bullying… offensive… rude [and] rooted in privilege.' Audra McDonald then commented on the post with hearts and applause. Cut to the New Yorker piece, and LuPone swung big at Lewis: 'Let's find out how many Broadway shows Kecia Lewis has done. She's done seven. I've done thirty-one. Don't call yourself a vet, bitch.' I'm glad you made it to the end of this spat summary, and I think we can all agree that…yikes. Look, what we all like about LuPone is her dry candor, her ability to leave silences heavy with sardonic knowing. LuPone is refreshingly gossipy in public in a way that's largely died in our fearful-of-repercussions, fearful-of-retweets internet age. She is conspiratorial in a way that feels like we're momentarily sharing a Marlboro with a head girl behind the bike sheds. Above all, LuPone is dramatic in the Broadway-lineage sense: There is a grandeur to her banter and her sass is playing all the way to the seats at the back.
Forbes
7 days ago
- Business
- Forbes
Will Q1 Results Move Gap Stock Up?
NEW YORK, NEW YORK - APRIL 03: A Gap store is seen in Times Square on April 03, 2025 in New York ... More City. U.S. (Photo by Michael M. Santiago/Getty Images) Gap Inc. stock (NYSE: GAP) is set to announce its fiscal first-quarter earnings on Thursday, May 29, 2025, with analysts forecasting earnings of 45 cents per share and $3.42 billion in revenue. This would indicate a 7% year-over-year rise in earnings and a 1% increase in sales compared to the previous year's figures of 42 cents per share and $3.39 billion in revenue. Historically, GAP stock has risen 74% of the time after earnings announcements, with a median one-day gain of 7.6% and a maximum noted increase of 31%. For the fiscal year 2025, Gap anticipates a sales growth of 1% to 2%, while expecting a more substantial operating income increase of around 8% to 10%, driven by strategic investments in brand development and enhancements to the supply chain. Investors are encouraged to monitor the company's efforts to rejuvenate the Athleta brand, as well as its ongoing optimization of both digital and brick-and-mortar retail strategies. Gap's emphasis on operational efficiency and flexibility in response to market conditions is expected to provide a strong base for overcoming possible economic difficulties. The company currently has a market capitalization of $11 billion. Revenue for the past twelve months was $15 billion, and it achieved operational profitability with $1.1 billion in operating profit and a net income of $844 million. For traders who respond to events, historical trends may present a favorable position, whether by preparing in advance of earnings or reacting to movements after the release. However, if you are looking for upside with less volatility than individual stocks, the Trefis High Quality portfolio offers an alternative, having outperformed the S&P 500 and produced returns surpassing 91% since its launch. See the earnings reaction history of all stocks. Some insights on one-day (1D) post-earnings returns: Additional information regarding the observed 5-Day (5D) and 21-Day (21D) returns following earnings is outlined along with the statistics in the table below. GAP 1D, 5D, and 21D Post Earnings Return A relatively less risky approach (although not beneficial if the correlation is weak) is to comprehend the correlation between short-term and medium-term returns after earnings, identify a pair that exhibits the highest correlation, and carry out the corresponding trade. For instance, if 1D and 5D reflect the highest correlation, a trader can set themselves "long" for the following 5 days if the 1D post-earnings return is favorable. Here is some correlation data based on a 5-year and 3-year (more recent) history. Note that the correlation 1D_5D pertains to the relationship between 1D post-earnings returns and ensuing 5D returns. GAP Correlation Between 1D, 5D and 21D Historical Returns Discover more about Trefis RV strategy that has outperformed its benchmark for all-cap stocks (which combines the S&P 500, S&P mid-cap, and Russell 2000) to deliver robust returns for investors.
Forbes
7 days ago
- Business
- Forbes
Henley Wealth Report 2025: US Tops Global Wealth Growth
As globalization has expanded, residence and citizenship have become hot topics among the growing number of people traveling, working and living internationally. A country's (and its cities') global status and wealth can have a significant impact on its success as a travel destination—be it as an aspirational place to visit, an investment hub or a lifestyle magnet. Times Square, 'the Crossroads of the world', in New York—more popular and rich than ever. getty In its annual Wealth Report for 2025, wealth and investment migration specialists Henley & Partners in collaboration with global data intelligence firm New World Wealth places the US firmly atop the world's rankings as the foremost private wealth hub. Home to more than six million high-net-worth individuals (HNWIs) with an investable wealth of at least $1 million, that translates to an incredible 37% of the world's millionaire population. This dominance carries on even as you add zeros, with 36% of the world's $100+ million centi-millionaires and 33% of its billionaires also living in America, figures that don't quite tally exactly with Forbes' own list of cities with the most billionaires thanks to Henley's differing methodology. From 2014 to 2024, the US saw a 78% increase in its millionaire population to lead the W10 list of the 10 wealthiest countries in the world by millionaire population. Just behind is China that enjoyed 74% growth but is still far behind the US in terms of resident millionaires. By contrast, all other W10 countries have seen much slower growth over the same period, with the UK even suffering a 9% drop in its millionaire population—potentially a sign of economic stagnation post Brexit. Of the remaining W10, Australia's millionaire population increased by +30%, Switzerland's by +28%, Canada's by +26%, Italy's by +20%, Germany's by +10%, France's by +7% and Japan's by +5%. Of the world's wealthiest cities in 2025, four in the US appear in the top ten according to Henley's report, highlighting the continued dominance of America's traditionally wealthy hubs, almost all of which are major tourist hubs as well. Silicon Valley and the rest of the Bay Area saw huge wealth growth, down in no small part to the tech industry. Apple HQ, Cupertino. AFP via Getty Images New York remains the wealthiest city not only in the US but also the world. It's followed by the Bay Area, which includes San Francisco and Silicon Valley, also home to the highest concentration of billionaires with 82 residents. The Bay Area also saw the highest wealth growth of any top 10 US city, its millionaire population surging by 98%. Not far behind are Los Angeles, Chicago, Houston and Dallas, the latter two in particular seeing serious growth with 75% and 85% increases in their millionaire residents respectively. Rounding out the top ten are Seattle, Boston, Miami and Austin, the last two again demonstrating real growth with 94% and 90% millionaire growth respectively. The report also highlights the rapid rise in emerging wealth hubs, pointing to their growing appeal and popularity among the world's wealthy and mobile. Scottsdale has emerged as the fastest growing city by millionaire population with a huge 125% increase over the past decade. Close behind is West Palm Beach with a 112% rise. Blessed by nature, tourist-friendly Scottsdale is attracting millionaires faster than anywhere else in the US. getty Each is a showcase of broader demographic and economic shifts driven by a fast-expanding tech sector, skilled professionals and favorable regulatory conditions. As the city's fortunes right (both real and metaphorical), we can expect an increased interest in tourism as their facilities and brands improve in the global eye. David K. Young, President at the Committee for Economic Development of The Conference Board (CED), points out in the report that 'despite a wave of policy changes and their subsequent implications around the world, the relative political stability, rule of law, economic prospects, culture of innovation, not to mention the US dollar remaining the global reserve currency, have squarely positioned the USA as an environment in which to do business and to invest.' To find out more, read the full USA Wealth Report 2025.
