The Nike Air Force 1 Low Tiffany & Co. “1837” releases next month.

Tiffany & Co.

• Nike and Tiffany & Co. are releasing their first sneaker collaboration next month for $400.
• The sneaker is just the beginning. Accessories for the release can set shoppers back over $1,000. 
• Accessories are a sterling silver shoe horn, sneaker toothbrush, deubré, and a referee whistle.

Nike and Tiffany & Co. are getting set to release their first sneaker collaboration next month.

Sneakerheads have not been shy about expressing their disapproval for the shoe online after photos of the upcoming collab leaked. Samples and custom designs of what the shoe could have looked like have also surfaced this week.

The official sneaker hitting stores comes in mostly all-black suede and features a Tiffany-blue swoosh and a silver heel plate. The shoes, releasing on March 7 for $400, also come with four different sets of laces — white, black, yellow, and blue. NBA superstar LeBron James recently wore a pair of the unreleased shoes before a regular-season matchup between the LA Lakers and the New York Knicks.

But the sneaker, dubbed the Nike Air Force 1 Low Tiffany & Co. “1837,” is just the beginning. The accessories set to accompany the release will set back customers well over $1,000. 

Many sneaker collaborations tend to include apparel drops. But in classic Tiffany’s style, the luxury jeweler is selling a sterling silver shoe horn, sneaker toothbrush, deubré, and a whistle as part of the release. Each will cost between $250 to $475. 

—Tiffany & Co. (@TiffanyAndCo) January 31, 2023

 

Tiffany’s has a history of selling everyday items crafted in sterling silver. A loop baby spoon is on sale for $220 on its website. The brand also sells sterling silver photo frames, bowls, and pens, among other items. 

Since being acquired by LVMH in 2021 for $15.8 billion, Tiffany’s has worked on a number of collabs, including partnering with Beyoncé and Jay-Z, in efforts to shake off its old-fashioned image and attract younger customers. 

In an earnings call last week, LVMH CEO Bernard Arnault told investors that Tiffany’s exceeded $1 billion in profit for the first time in 2022. Revenues for LVMH’s jewelry and watches segment, which includes Tiffany’s, Tag Heuer, and Repossi, increased 18% to about $11.5 billion.

“Everyone said to me, why are you buying this business at that price? It’s far too much,” Arnault told investors on an earnings call last week referring to the Tiffany’s acquisition. “But I mean, it wasn’t perhaps managed in the most dynamic way, I won’t dwell on that at the time. But if it were listed today, probably worth twice as much.”

This is Tiffany’s first official foray into sneakers. Back in 2005, the jeweler’s banner colors were the inspiration for the Diamond Supply Co and Nike SB Dunk. 

Tiffany’s sister brands Dior and Louis Vuitton have released their own collaborations in recent years with Nike on the Air Jordan 1 and Air Force 1, respectively. Each retailed at $2,000.

(NewsNation) — More than one-third of adults still rely on their parents to pay at least one of their bills as inflation sends costs of living higher.

A new poll found many adults still rely on their parents for money. Among millennials, who range in age from 28 to 43, nearly a quarter said their parents still pay their rent.

Finance professor Dan Roccato said inflation is playing a big role, but it’s not the only factor.

“We also have underemployment, where a lot of these young adults, millennials, have great education in many cases, but simply don’t have the job that’s paying them enough to basically be on their own,” he said.

Sometimes, Roccato said, parents go too far in their desire to help their children.

“We as parents have an obligation, we signed up to help our children, you know, through thick and thin. We didn’t sign up for supporting them financially forever, and we’ve got to find that balance between that helping and enabling,” he said.

That’s especially true, Roccato added, when helping adult children means parents are putting their own financial security at risk.

Other bills commonly paid by family include groceries and utilities.

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The post 110,000 tonnes of grain already sent under Grain from Ukraine program appeared first on Ukraine Intelligence.

U.S. applications for jobless aid fell again last week to their lowest level since April, further evidence that the job market has withstood aggressive rate hikes by the Federal Reserve as it attempts to cool the economy and bring down inflation.

Applications for jobless aid in the U.S. for the week ending Jan. 28 fell by 3,000 last week to 183,000, from 186,000 the previous week, the Labor Department reported Thursday. It was the third straight week claims were under 200,000 and the third straight weekly decline.

Jobless claims generally serve as a proxy for layoffs, which have been relatively low since the pandemic wiped out millions of jobs in the spring of 2020.

The four-week moving average of claims, which flattens out some of the week-to-week volatility, declined by 5,750 to 191,750.

The Fed on Wednesday raised its main lending rate by 25 basis points, its eighth rate hike in less than a year. The central bank’s benchmark rate is now in a range of 4.5% to 4.75%, its highest level in 15 years. Chair Jerome Powell appeared to suggest Wednesday that he foresees two additional quarter-point rate hikes.

So far, the Fed’s aggressive policy has pushed inflation down, but has had less impact on a resilient U.S. job market.

On Wednesday, the government reported that U.S. job openings rose to 11 million in December, up from 10.44 million in November and the highest since July. For 18 straight months, employers have posted at least 10 million openings — a level never reached before 2021 in Labor Department data going back to 2000. The number of openings in December meant that there were about two vacancies for every unemployed American.

Last month’s job report told a similar story: U.S. employers added a solid 223,000 jobs in December, pushing the unemployment rate down to 3.5%, matching a 53-year low.

The Labor Department releases its monthly jobs report for January on Friday, where analysts expect the U.S. economy to have added another 185,000 jobs. That would be the lowest number in more than two years.

Within the monthly jobs data, there is some evidence of slowing wage growth, another of the Fed’s goals. Average hourly pay growth in December eased to its slowest pace in 16 months, which could reduce pressure on employers to raise prices to offset their higher labor costs.

Though the U.S. labor market remains robust, layoffs have been mounting in the technology sector, which is dealing with falling demand after a pandemic boom. IBM, Microsoft, Amazon, Salesforce, Facebook parent Meta, Twitter and DoorDash have all announced layoffs recently.

The Fed’s interest rate hikes have hit the real estate sector the hardest, largely due to higher mortgage rates — currently above 6% — that have slowed home sales for 11 straight months. That’s almost step-in-step with the Fed’s rate hikes that began last March.

About 1.66 million people were receiving jobless aid the week that ended Jan. 21, down 11,000 from the week before.

Russian President Vladimir Putin meets with members of public patriotic and youth organizations at the Battle of Stalingrad Museum and Panorama in Volgograd on February 2, 2023.

Mikhail Klimentyev/Getty Images

• Putin made another veiled nuclear threat on Thursday as the Ukraine war rages on.
• This came as the Russian leader likened the war to the battle of Stalingrad during WWII.
• But in the case of Stalingrad, Russia (then part of the USSR) was being invaded — not doing the invading.

Russian President Vladimir Putin on Thursday leveled another veiled nuclear threat in relation to the war in Ukraine as he ripped into Germany for providing battle tanks to Kyiv, while comparing Russia’s unprovoked invasion of its next-door neighbor to the Soviet Union’s fight against the Nazis during World War II. 

“Unfortunately we see that the ideology of Nazism in its modern form and manifestation again directly threatens the security of our country,” Putin said during a speech in Volgograd, per Reuters. Volgograd, formerly known as Stalingrad after the Soviet dictator, was the site of the World War II battle that put Nazi Germany on the path to defeat at an estimated cost of 750,000 Soviet lives.

“Again and again we have to repel the aggression of the collective West. It’s incredible but it’s a fact: we are again being threatened with German Leopard tanks with crosses on them,” Putin added. 

The Russian leader left out some key facts, however. The Leopard tanks will be operated by Ukrainians, and Germany joined the US and the UK in offering battle tanks to aid Ukraine in regaining territory it has lost since Russia invaded almost a year ago. The US and other Western powers have avoided providing longer-range missiles and fighter jets that Ukraine could use to strike inside Russia.

Putin said that the battle of Stalingrad was indicative of “the indestructible nature of our people,” adding that those who draw European countries into a new war with Moscow and “expect to win a victory over Russia on the battlefield, apparently don’t understand that a modern war with Russia will be quite different for them.”

“We don’t send our tanks to their borders but we have the means to respond, and it won’t end with the use of armored vehicles, everyone must understand that,” Putin said, in an apparent reference to Russia’s nuclear arsenal. The Russian leader has repeatedly made nuclear threats since the war began, and has been condemned across the world as a result. 

Russian lawmakers have reportedly been urged to make comparisons between Stalingrad — a battle against Nazi invaders — and the present-day fight in Ukraine, despite the fact Russia is now the aggressor. Putin has frequently harkened to WWII — which Russians remember as the Great Patriotic War — to seek greater support as the country faces economic hardships and well over 100,000 casualties from Ukraine.

Putin has offered a series of justifications for launching the invasion, including the bogus assertion that Ukraine is led by neo-Nazis. Ukrainian President Volodymyr Zelenskyy is Jewish and lost family in the Holocaust, but the Kremlin has continued to make references to Nazism in an effort to justify the ongoing war. 

Top Russia experts say Putin ordered the invasion of Ukraine because he has been preoccupied with subjugating it for years and wants to restore the power and prestige enjoyed by Moscow during the Soviet era. Putin, who has repeatedly suggested that Ukraine is not a real country, once described the collapse of the Soviet Union as “the greatest geopolitical catastrophe” of the 20th century. 

Sorokin, 32, was pushed further into the spotlight after the release of Netflix’s “Inventing Anna” in February 2022.

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• Anna Sorokin, aka Anna Delvey, is preparing to speak with a class of MBA students at Harvard University.
• The former fake socialite is still under house arrest after being released from ICE custody in October.
• She previously spoke with journalism students at Columbia University in New York.

Harvard Business School students are in for a lesson from convicted fraudster and “Inventing Anna” subject Anna Sorokin.

The Russian-born German national, 32, is just months removed from her stint at an ICE detention center, but she’s wasted no time relaunching into society.

Sorokin, aka Anna Delvey, confirmed to Insider that this semester she is set to make a virtual live appearance in front of MBA students at the top business school. The New York Post’s PageSix first reported on her plans.

Sorokin told Insider that she’ll be speaking to students of Eugene Soltes, a business administration professor whose coursework, according to the school’s website, focuses on corporate integrity and risk management.

Soltes didn’t immediately respond to Insider’s request for comment. A representative for Harvard’s MBA program on Thursday confirmed her appearance this semester.

This wouldn’t be Sorokin’s first gig at a university. In September, the 32-year-old spoke at an “Intro to Reporting” class for Columbia University students from her ICE detention facility. The class was taught by Emily Palmer, who reported on Sorokin’s trial and immigration problems for the New York Times.

Sorokin completed her sentence on larceny charges in February 2021. She pretended to be a German heiress and sought to bilk banks and other institutions for money in order to build a project she called the Anna Delvey Foundation. She was taken into custody by immigration authorities a month after her release, for overstaying her visa.

She was released from ICE custody in October, and has been confined to her East Village apartment in Manhattan on house arrest as she fights possible deportation, as well as her criminal conviction. The lack of freedom hasn’t stopped the fake heiress, who wears an ankle tracking device, from hosting dinner parties, photo shoots, and interviews in her home. 

Sorokin, on whom Netflix based its series “Inventing Anna,” has several projects in the works, including a podcast and her reality TV show, called “Delvey’s Dinner Club.” In a November interview, she told Variety that billionaire Elon Musk and accused fraudster Sam Bankman-Fried are among her dream dinner guests.

In January, Harvard MBA students had the chance to hear from another unconventional source. Reality star Kim Kardashian gave a lecture in a “Moving Beyond Direct to Consumer” class during which she spoke about her shapewear brand SKIMS, according to the school’s official newspaper.

Students from George Washington University wear their graduation gowns outside of the White House in Washington, DC, on May 18, 2022

Stefani Reynolds / AFP)

• A federal judge signed off on a settlement giving 200,000 student-loan borrowers $6 billion in debt relief last year.
• In January, three companies requested a stay on the relief, citing reputational harm the settlement brought them.
• Borrowers in the case recently filed a motion opposing the stay due to the harm postponing the relief would bring.

A group of student-loan borrowers who believe they were defrauded by their schools responded to the companies that want to block them from getting long-awaited debt relief.

In January, two for-profit higher-education companies — Lincoln Educational Services Corp. and American National University — and Everglades College, Inc., a nonprofit, filed notices to appeal federal Judge William Alsup’s November decision to give 200,000 student-loan borrowers $6 billion in debt relief and requested that he put a stay on that relief as the appeals process plays out. Some of the borrowers who were set to see debt forgiveness attended colleges run by those companies, which were among many named in the November settlement.

This was a result of a lawsuit, Sweet v. Cardona, first filed in 2019 under former President Donald Trump’s Education Department, in which the plaintiffs accused the department of failing to process borrower defense to repayment applications, which are claims borrowers can file if they believe they were defrauded by their school.

Per the terms of the settlement in favor of the students, the Education Department identified 153 schools it found to have engaged in misconduct, and any student who attended one of those schools would receive full relief automatically. 

While President Joe Biden’s Education Department agreed to the settlement and Alsup signed off on it, the three companies filed an appeal claiming they were not given “due process” after being included in the settlement, saying that they “will immediately suffer the stigma of having all BD claims against them summarily granted—without any administrative process, judicial factfinding, or reasoned decision on the merits.”

Last week, the plaintiffs in the case filed an opposition to the request to the stay the relief, writing in the legal filing that the companies would not be harmed if the borrowers get relief, but the borrowers would be “severely harmed” if the process was paused.

“They have already waited years for the resolution of their borrower defense (‘BD’) applications, some of which have been pending since 2015,” the filing said. “The loans that would be discharged under the Settlement continue to shadow them, affecting their credit, their livelihoods, their mental health, and countless other aspects of their lives. One hundred and forty-four borrowers have submitted declarations attesting to the harm a stay would cause them.”

The filing went on to push back on the companies’ concerns of reputational harm, saying they have failed to provide evidence of such harm, but noted how delaying this relief during the appeals process will significantly hurt borrowers. For example, one borrower said in the filing that the “stay will keep me from being able to take out enough loans to finish my degree, which I need in order to have a career that I can make a meaningful, livable wage with.”

Alsup is set to take up the issue of granting a stay on February 15. Eileen Connor, president and director of the Project on Predatory Student Lending, which represents the borrowers in the case, said in a statement that “each day that justice is delayed means additional harm for borrowers and their families who have already been forced to wait years for a resolution.”

“These baseless appeals show just how hard students must fight to protect their rights and get relief they are owed under the law,” she said. “The court’s decision granting approval of this settlement is clear and unequivocal, and as our filing details, further delay would only compound the significant harm and trauma borrowers have suffered throughout this process.”