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Luxury brands like Chanel and Rolex are facing scrutiny over quality and pricing strategies. As the market shifts, consumers are turning to vintage items for better value. The Swiss watch industry is also seeing a concentration of wealth among a few billion-dollar brands amid declining sales.
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Former Congressman George Santos is set to be sentenced on April 25, 2025, for multiple fraud charges, including lying to Congress and misusing campaign funds. Prosecutors are seeking over seven years in prison, while Santos claims he is being unfairly targeted and has expressed remorse for his actions.
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New York City is experiencing a significant shift in its real estate landscape as major office buildings are being converted into residential spaces. Notable projects include the transformation of Pfizer's former headquarters into 1,600 apartments and the completion of SoMA, the largest office-to-residential conversion in U.S. history, featuring 1,320 units.