Latest news with #luxuryGoods
CTV News
3 days ago
- Business
- CTV News
Cartier warns customers that personal data was exposed in hacking incident
Cartier, the French luxury goods brand known for its iconic jewelry and watches, was impacted by a data breach, according to an email shared with clients on Monday. 'An unauthorized party gained temporary access to our system and obtained limited client information,' the email read. According to Cartier, the incident may have affected client information – specifically names, email addresses and country. However, the company says the affected information did not include passwords, credit card details or any other banking information. 'We have informed the relevant authorities and are working with external cybersecurity specialists to investigate the incident and strengthen our security posture,' Cartier said. Cartier says they have 'contained the issue,' but advise customers to remain alert for any suspicious activity. It is not clear how many regions in Canada are affected by this unauthorized intrusion. Anyone with questions about the incident can contact Cartier.
Wall Street Journal
27-05-2025
- Business
- Wall Street Journal
Swiss Watch Exports Jump in April Boosted by U.S. Frontloading
Swiss watch exports climbed in April, propelled by an exceptional increase in the U.S. due to early shipments ahead of the potential implementation of tariffs on imported goods to the country. Total exports of Swiss timepieces jumped more than 18% to 2.55 billion Swiss francs ($3.11 billion) in April compared with the prior-year period, according to data from the Federation of the Swiss Watch Industry, known as FH. For the first four months of the year, exports rose 4%. President Trump said last month that Switzerland would be subject to 31% levies on its exports to the U.S. Trump has since implemented a 90-day pause on the measures for countries open to negotiating trade deals. April's performance was driven by higher exports to the U.S., which were up by around 149%. Excluding the U.S., the result would have been a decline of 6.4%, dragged by shrinking demand in China, a country that once fueled growth for luxury brands and is now facing economic difficulties that have led buyers to tighten their purse strings. 'The sharp rise in exports is therefore more a reflection of a one-off response to an uncertain commercial situation than a genuine sign of a structural strengthening of demand,' the industry body said. This is consistent with FH's previous downbeat projection that global Swiss watch exports should decline again this year given no imminent turnaround in Chinese demand, Citi analyst Thomas Chauvet wrote in a note. As for the exceptional performance in the U.S., this should reverse throughout the summer, he added. Trends in other key markets showed a mixed picture at a time when the watch sector faces a challenging outlook due to slowing demand for high-end brands. All key listed players–including Cartier owner Richemont, French conglomerate LVMH, and Birkin bag maker Hermes–reported negative sales growth for their watch divisions in the first quarter, Vontobel analyst Jean-Philippe Bertschy said in a research note. Write to Andrea Figueras at
Yahoo
25-05-2025
- Business
- Yahoo
One word costing Aussies billions
Australian consumers could benefit from cheaper luxury goods as countries look for new trade deals following US President Donald Trump's tariff policy. With global trade being altered by the Trump administration's new policies, major trading blocks are looking for new deals, including Australia and the European Union. But so far, trade talks have stalled, as neither is willing to alter their stance on naming rights on key agriculture products. The Australian government believes products should be named based on the actual commodity, while the EU wants to protect products based on geography. It says, for example, a product can only be called champagne if it is made in the Champagne region of France. For Australia to have greater access to the European market, the EU wants us to stop using terms such as prosecco and feta that are tied to geographical regions in Europe – something that Australian producers are reluctant to do. While talks are still in their infancy, AMP chief economist Shane Oliver said Australians could benefit from cheaper European goods if a deal materialised. 'For Australians, it will quite probably mean cheaper goods from Europe,' he said. 'I don't know how cars are being treated in this, but I do know some European cars are subject to tariffs and they could quite possibly be removed. 'It would be good news for Australian consumers via cheaper products from Europe and for Australian producers who get access to a bigger market globally at a time where it is becoming more difficult to sell to the US.' Australians imported $62.7bn worth of goods and $18bn worth of services from the EU in 2023, with tariffs ranging from 7 to 12 per cent. STICKING POINT After a seven-year effort for Australia to secure a free-trade deal with the EU, talks stalled in 2023 over differences in opinions for agricultural exports. But a meeting between the European Commission and Prime Minister Anthony Albanese at the Pope's inauguration helped revive the previously stalled chats. Since the post-Trump world, previous trade stumbling blocks, including the naming rights for products including feta and prosecco, are back on the table as Australia and the EU look for a trade deal. Dropping naming rights claims would be a major concession from the EU, but the Albanese government has argued it's critical to securing a free-trade agreement between the two. Trade Minister Don Farrell said a 'lot of things have changed' since negotiations broke down in 2023 due to sticking points in the agriculture sector. Mr Farrell said on Monday 'both Australia and Europe now realise that there's a priority and an imperative to get a free-trade agreement'. 'If other countries don't want to trade with you, well, that's fine,' he told Sky News. 'That's their decision, but if there are countries who do want to do trade with you, well, then you've got to go that extra mile to get an agreement over the line.' TRUMP TARIFFS CATALYST FOR NEW DEAL Mr Trump used a speech on April 2 to announce wide-ranging tariffs on just about every trading partner based on evening up the US trade deficit. Dubbed liberation day and 'it's no joke', every country, including Australia, faced a 10 per cent tariff, while 'cheating' nations were whacked with higher tariffs. Mr Trump subsequently paused all tariffs for 90 days to allow countries to work out trade deals with the US. Australia was given only the base rate, but Australian beef exports were singled out by Mr Trump during his speech. 'Australia bans – and they're wonderful people, and wonderful everything – but they ban American beef,' he said. 'Yet we imported $3bn of Australian beef from them just last year alone. 'They won't take any of our beef. They don't want it because they don't want it to affect their farmers. And you know, I don't blame them, but we're doing the same thing right now starting at midnight tonight.' While Australia fared better than the EU under the Trump tariff plan, Dr Oliver told NewsWire that both trading blocks were looking for new deals. 'They seemed to grind to a halt and what's happened now with the US tariffs being imposed on both countries – being a bigger threat to Europe compared to Australia of course – that's brought the two back together again,' he said. 'I think you'll see this around the world that countries that might find their exports to the US under threat might seek to come up with other nations as alternatives.' FARMERS PUSH FOR FREE TRADE Australian farmers have welcomed the potential of a trade deal with the EU but stressed the importance of improved agricultural market access and standing strong on matters such as geographical indicators for a variety of food products. NFF president David Jochinke said the ag industry supported Mr Albanese's comments. 'The deal on offer from the European Union simply wasn't good enough, limited market access and too many strings attached,' Mr Jochinke said. He said the central issues remained the same for Australian producers. 'This isn't just any trade deal, it'll shape trade between Australia and Europe for decades,' he said. 'That's why it must be fair and balanced, with real gains for Australian agriculture at its core.' LIMITED BENEFITS While key industries are set to benefit from a trade deal, Dr Oliver warns it's unlikely to help Australia's lagging economic growth. 'I don't think either Australia or the European Union desperately need this,' he said. 'Am I going to revise up my GDP growth forecasts as a result of this deal? Probably not.' But Dr Oliver did say a deal would help with confidence in the markets, lift certain industries and it's one of those things 'that are better to have than not'. 'I think psychologically, for Europe and Australia it's a positive, as it shows Trump is doing negative things but other countries around the world can get together and do positive things such as opening trade.' Sign in to access your portfolio
News.com.au
25-05-2025
- Business
- News.com.au
Trivial reason Aussies are paying more as EU trade talks begin
Australian consumers could benefit from cheaper luxury goods as countries look for new trade deals following US President Donald Trump's tariff policy. With global trade being altered by the Trump administration's new policies, major trading blocks are looking for new deals, including Australia and the European Union. But so far, trade talks have stalled, as neither is willing to alter their stance on naming rights on key agriculture products. The Australian government believes products should be named based on the actual commodity, while the EU wants to protect products based on geography. It says, for example, a product can only be called champagne if it is made in the Champagne region of France. For Australia to have greater access to the European market, the EU wants us to stop using terms such as prosecco and feta that are tied to geographical regions in Europe – something that Australian producers are reluctant to do. While talks are still in their infancy, AMP chief economist Shane Oliver said Australians could benefit from cheaper European goods if a deal materialised. 'For Australians, it will quite probably mean cheaper goods from Europe,' he said. 'I don't know how cars are being treated in this, but I do know some European cars are subject to tariffs and they could quite possibly be removed. 'It would be good news for Australian consumers via cheaper products from Europe and for Australian producers who get access to a bigger market globally at a time where it is becoming more difficult to sell to the US.' Australians imported $62.7bn worth of goods and $18bn worth of services from the EU in 2023, with tariffs ranging from 7 to 12 per cent. STICKING POINT After a seven-year effort for Australia to secure a free-trade deal with the EU, talks stalled in 2023 over differences in opinions for agricultural exports. But a meeting between the European Commission and Prime Minister Anthony Albanese at the Pope's inauguration helped revive the previously stalled chats. Since the post-Trump world, previous trade stumbling blocks, including the naming rights for products including feta and prosecco, are back on the table as Australia and the EU look for a trade deal. Dropping naming rights claims would be a major concession from the EU, but the Albanese government has argued it's critical to securing a free-trade agreement between the two. Trade Minister Don Farrell said a 'lot of things have changed' since negotiations broke down in 2023 due to sticking points in the agriculture sector. Mr Farrell said on Monday 'both Australia and Europe now realise that there's a priority and an imperative to get a free-trade agreement'. 'If other countries don't want to trade with you, well, that's fine,' he told Sky News. 'That's their decision, but if there are countries who do want to do trade with you, well, then you've got to go that extra mile to get an agreement over the line.' TRUMP TARIFFS CATALYST FOR NEW DEAL Mr Trump used a speech on April 2 to announce wide-ranging tariffs on just about every trading partner based on evening up the US trade deficit. Dubbed liberation day and 'it's no joke', every country, including Australia, faced a 10 per cent tariff, while 'cheating' nations were whacked with higher tariffs. Mr Trump subsequently paused all tariffs for 90 days to allow countries to work out trade deals with the US. Australia was given only the base rate, but Australian beef exports were singled out by Mr Trump during his speech. 'Australia bans – and they're wonderful people, and wonderful everything – but they ban American beef,' he said. 'Yet we imported $3bn of Australian beef from them just last year alone. 'They won't take any of our beef. They don't want it because they don't want it to affect their farmers. And you know, I don't blame them, but we're doing the same thing right now starting at midnight tonight.' While Australia fared better than the EU under the Trump tariff plan, Dr Oliver told NewsWire that both trading blocks were looking for new deals. 'They seemed to grind to a halt and what's happened now with the US tariffs being imposed on both countries – being a bigger threat to Europe compared to Australia of course – that's brought the two back together again,' he said. 'I think you'll see this around the world that countries that might find their exports to the US under threat might seek to come up with other nations as alternatives.' FARMERS PUSH FOR FREE TRADE Australian farmers have welcomed the potential of a trade deal with the EU but stressed the importance of improved agricultural market access and standing strong on matters such as geographical indicators for a variety of food products. NFF president David Jochinke said the ag industry supported Mr Albanese's comments. 'The deal on offer from the European Union simply wasn't good enough, limited market access and too many strings attached,' Mr Jochinke said.   He said the central issues remained the same for Australian producers. 'This isn't just any trade deal, it'll shape trade between Australia and Europe for decades,' he said. 'That's why it must be fair and balanced, with real gains for Australian agriculture at its core.' LIMITED BENEFITS While key industries are set to benefit from a trade deal, Dr Oliver warns it's unlikely to help Australia's lagging economic growth. 'I don't think either Australia or the European Union desperately need this,' he said. 'Am I going to revise up my GDP growth forecasts as a result of this deal? Probably not.' But Dr Oliver did say a deal would help with confidence in the markets, lift certain industries and it's one of those things 'that are better to have than not'. 'I think psychologically, for Europe and Australia it's a positive, as it shows Trump is doing negative things but other countries around the world can get together and do positive things such as opening trade.'
Fox News
10-05-2025
- Fox News
How SIM swapping led to a $1.8M cyber fraud case
A San Fernando Valley, California, man has been sentenced to more than five years in federal prison after orchestrating a massive fraud operation that targeted dozens of victims, many of them elderly. Oren David Sela, 36, stole mail, hijacked phone numbers through SIM swapping, and used victims' identities to drain bank accounts, stealing over $1.8 million. Here is how the scheme worked and what you can do to avoid becoming a victim of a similar attack. SIM swapping is a form of identity theft where a scammer tricks a mobile carrier into transferring your phone number to a new SIM card they control. Once they hijack your number, they can intercept text messages, including verification codes, and gain access to your bank accounts, emails and more. There are two common ways scammers pull off SIM swaps: Once they control your phone number, they can: SIM swapping turns your phone number into a master key for stealing your identity and money. Between November 2021 and October 2023, Sela stole mail from homes in Beverly Hills, California, and nearby neighborhoods. He collected personal information, including: Using this information, Sela carried out SIM swapping attacks to bypass two-factor authentication (2FA) protections. This allowed him to: Sela made hundreds of fraudulent withdrawals and transfers. He attempted to steal nearly $2.6 million and successfully stole at least $1.8 million. Sela often spent the stolen money on luxury goods, including a nearly $17,000 watch. In 2022, he was arrested in Beverly Hills and found with nearly $25,000 in cash, various pieces of expensive jewelry, and numerous fraudulent debit and credit cards belonging to elderly victims. Despite this arrest, Sela continued committing fraud. During two subsequent searches of his properties in 2022 and 2023, law enforcement discovered more than $70,000 in cash, stolen mail, fraudulent identification documents, and banking information linked to dozens of victims. In October 2024, Sela pleaded guilty to bank fraud and aggravated identity theft. On April 22, 2025, he was sentenced to 61 months in federal prison and ordered to pay $1,818,369 in restitution. Two-factor authentication provides an extra layer of security, but it is only effective if the attacker cannot access your phone. When scammers hijack your phone number, they can intercept 2FA codes sent by text and quickly take control of your accounts. Once inside your email or banking app, they can: They do not even need your password if they can control your number. Take these important steps to secure your information: 1. Monitor your accounts: Regularly review your bank statements, credit card statements, and financial accounts for unauthorized activity. Report any suspicious transactions immediately. 2. Lock your SIM card: Set a PIN on your SIM card through your mobile carrier. Without it, your number cannot be moved without your permission. 3. Be cautious about sharing personal information: Limit the amount of personal information you share online, especially on social media. Scammers often use small details like birthdays, pet names, or locations to guess security questions or impersonate you. 4. Place a fraud alert: Contact one of the three major credit bureaus (Equifax, Experian, or TransUnion) and request a fraud alert. This makes it harder for identity thieves to open new accounts in your name. 5. Check your credit reports: Obtain free copies of your credit reports and review them carefully for suspicious activity. If you find errors or signs of fraud, report them right away. 6. Freeze your credit: A credit freeze prevents new accounts from being opened in your name without your consent. It is free to set up and does not affect your credit score. 7. Use an authenticator app, not SMS for two-factor authentication: Use apps like Microsoft Authenticator or Google Authenticator instead of relying on text message codes, which can be intercepted if your phone number is stolen. 8. Strengthen your passwords: Create strong, unique passwords for each account. Consider using a password manager to generate and store complex passwords securely. Get more details about my best expert-reviewed Password Managers of 2025 here. 9. Invest in identity theft protection: Identity Theft companies can monitor personal information like your Social Security Number (SSN), phone number, and email address and alert you if it is being sold on the dark web or being used to open an account. They can also assist you in freezing your bank and credit card accounts to prevent further unauthorized use by criminals. See my tips and best picks on how to protect yourself from identity theft. 10. Be cautious of phishing attempts and use strong antivirus software: Watch out for emails, texts, or calls asking for personal information. Always verify the source before providing sensitive details. Installing antivirus software on all your devices can help protect you by blocking malicious links, detecting phishing attempts, and stopping malware before it can steal your private information. Get my picks for the best 2025 antivirus protection winners for your Windows, Mac, Android and iOS devices. If scammers can steal your phone number, they can steal your money, your accounts, and even your identity. SIM swapping is a serious threat because it gives criminals a shortcut around your strongest defenses. Take action today to protect your phone, your accounts, and your personal information. A few small steps can make the difference between staying safe and facing a devastating financial loss. Have you ever been targeted by a SIM swapping scam or identity theft? Let us know by writing us at For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Follow Kurt on his social channels: Answers to the most-asked CyberGuy questions: New from Kurt: Copyright 2025 All rights reserved.
