Latest news with #luxuryspending
CBS News
2 days ago
- Business
- CBS News
Northern California business owner in Fairfield accused of not paying $2 million in taxes
A business owner in Solano County is facing multiple federal charges for allegedly not paying more than $2 million in trust fund taxes, instead spending the money on luxury items, prosecutors said. Acting U.S. Attorney Michele Beckwith of the Eastern District of California announced on May 28 that a 41-count indictment was returned against 54-year-old Warren Soto Delfin of Fairfield. Delfin was the owner of five home health care businesses. Delfin's businesses accumulated more than $2 million in employment taxes between January 2018 and December 2022, prosecutors said. The taxes stem from amounts Delfin withheld from employee paychecks. Instead of paying the withholdings to the Internal Revenue Service, prosecutors said he used the money on himself. Delfin allegedly spent the money on a Lamborghini, jewelry and real estate. Delfin was charged following an investigation by IRS Criminal Investigation and the Department of Health and Human Services Office of Inspector General. If convicted, Delfin faces a maximum penalty of five years in prison and a $250,000 fine for each charged count.
CBS News
2 days ago
- Business
- CBS News
Northern California business owner in Fairfield accused of not paying $2M in taxes
A business owner in Solano County is facing multiple federal charges for allegedly not paying more than $2 million in trust fund taxes, instead spending the money on luxury items, prosecutors said. Acting U.S. Attorney Michele Beckwith of the Eastern District of California announced on May 28 that a 41-count indictment was returned against 54-year-old Warren Soto Delfin of Fairfield. Delfin was the owner of five home health care businesses. Delfin's businesses accumulated more than $2 million in employment taxes between January 2018 and December 2022, prosecutors said. The taxes stem from amounts Delfin withheld from employee paychecks. Instead of paying the withholdings to the Internal Revenue Service, prosecutors said he used the money on himself. Delfin allegedly spent the money on a Lamborghini, jewelry and real estate. Delfin was charged following an investigation by IRS Criminal Investigation and the Department of Health and Human Services Office of Inspector General. If convicted, Delfin faces a maximum penalty of five years in prison and a $250,000 fine for each charged count.
Times
16-05-2025
- Business
- Times
Richemont defies luxury downturn with strong jewellery sales
Resilient demand for fine jewellery has helped the owner of Cartier and Van Cleef & Arpels defy the broader downturn in luxury spending. Richemont, the Swiss luxury group, posted stronger-than-expected sales in the fourth quarter and signalled it would resist aggressive price increases despite the threat of US tariffs. It reported a 7 per cent rise in sales to €5.17 billion for the three months to the end of March, outpacing analysts' forecasts. An 11 per cent jump in jewellery revenue helped to offset a sharp drop in watch sales amid weaker sentiment in China. Shares in the Swiss-listed company climbed CHF11.22, or 7.3 per cent, to CHF165.32 in mid-afternoon trading on Friday, taking gains for the year to 17 per cent, in stark contrast
Travel Daily News
13-05-2025
- Business
- Travel Daily News
SEA Milan Airports sets new retail record in 2024
Milan Airports set records in 2024, with 432m. euros in non-aviation revenue, rising long-haul traffic, and increased luxury and retail spending. MILAN – In a year marked by the continued growth of global travel, Milan Airports have once again achieved record-breaking results in non-aviation revenues. As long-haul traffic continues to recover, passengers are returning not only in greater numbers, but also with a renewed interest in shopping, dining, and premium services. The commercial sector (shops and restaurants) reported an all-time high turnover of 432 million euros, representing an increase of 15,4% compared to 2023, while passenger traffic rose by 11,5%. The average spend per passenger reached € 11, up 3,4% year-over-year. Retail performance was especially strong: sales in shops rose by 15,3%, with spending per passenger up by 3,1%. The food & beverage segment also grew significantly, with sales increasing by 16,6% and average spend per passenger up 4,5%. A standout performance was recorded airside at Malpensa Airport, where sales increased by 17,5%, including duty-free and specialty retail, and average passenger spending grew by 5,6%. The luxury sector confirmed its key role, with Terminal 1 luxury shops achieving a revenue increase of 13,9%, and spending per passenger rising by 14,9%. This trend was driven in particular by the return and expansion of intercontinental traffic, especially from Asia, the United Arab Emirates, and North America. The overall airport system registered a +11.5% increase in passenger traffic in 2024 compared to the previous year, setting an all-time record of 39.3 million passengers. Malpensa closed the year with 28.7 million passengers. Long-haul traffic at Milan airports grew by 17%, driven by the return of pre-pandemic routes and the launch of new connections, particularly to Asia. Highlights include Thai Airways (Bangkok), Hainan Airlines (Chongqing, Guiyang), Turkmenistan Airlines (Ashgabat), Air China (Chengdu), China Eastern (Xi'an), and ANA (Tokyo Haneda), marking Japan's first direct link with Milan by a Japanese carrier in 14 years. Beond introduced an all-business-class service to Malé, while Vietnam Airlines will launch the first direct Milan–Hanoi route in summer 2025. North American connectivity remains strong with around 70 weekly flights by seven carriers, plus services from Air Azores via Ponta Delgada. Delta and Air Canada will boost capacity in winter, and summer 2025 will bring new routes to Boston (Delta) and Philadelphia (American Airlines). Additional developments include flights by Air Bulgaria (Sofia), Sun Express (Antalya), Transavia France (Paris Orly), Nesma Airlines (Cairo), and increased frequencies from LATAM (São Paulo), Cathay Pacific (Hong Kong), Delta (Atlanta), Air India (Delhi), Etihad (Abu Dhabi), and Gulf Air (Bahrain and Geneva). In the low-cost segment, easyJet added routes to Las Palmas, Toulouse, and Salerno, with winter services to Oslo, Pristina, Tromsø, Kittilä, Sphinx (Cairo West), and Rabat. Wizz Air expanded to Paris Beauvais, Tenerife, Warsaw, Larnaca, Malaga, Valencia, Bucharest, Rzeszow, and Gdansk. Ryanair strengthened its Malpensa base with new routes to Athens, Marrakech, Budapest, Tallinn, Paris Beauvais, and, for winter 2025, Krakow, Rzeszow, Fuerteventura, and Reggio Calabria. At Linate, extended weekend slot availability enabled new routes from Vueling (Barcelona), Aeroitalia (Rome, Perugia, Comiso), Sky Alps (Ancona), and ITA Airways (Malta). Following the EU-mandated release of 15 daily slot pairs tied to Lufthansa's acquisition of ITA Airways, easyJet was selected as remedy taker and will launch new flights to Frankfurt, Brussels, Vienna, and additional UK/EU destinations from summer 2025. New routes to Düsseldorf and Hamburg are also planned from Malpensa.
