WEALTH

AUTOS

Alfa Romeo SUV Coming in 2016, Says Sergio

Fiat Chrysler CEO Sergio Marchionne has big plans for Alfa Romeo. The boss wants eight new models in the Alfa lineup by 2018, including a wagon and a crossover based on the new Giulia sedan. Turns out Sergio is serious about that SUV: He says the preproduction work is complete, and the model will go into production by mid-2016. – This report comes to us from The Detroit Free Press,

We Take the Wheel of the World’s First 3D-Printed Car

-This spring Fiat-Chrysler CEO Sergio Marchionne called out the auto industry for the staggering amount of money it wastes in the design and manufacture of cars. His solution is based on classic business principles: consolidate and eliminate redundancy. Local Motors CEO Jay Rogers perceives the same challenge, but he’s attacking it from a completely different direction. For Rogers, the problem stems not from business organization but from the fact that

Mazda Koeru Concept: Looks Like the CX-9 Is Finally Getting Its Makeover

– Take a gander at Mazda’s lineup and two cars stand out—and not in a particularly youthful way. The current-generation Mazda 2 came to us in 2011, already midway through its life cycle. And the surprisingly still-satisfying CX-9 three-row crossover is a dinosaur holdover from Mazda’s FoMoCo days. We’ve already been told the new global Mazda 2 won’t be coming here—as the company would rather focus on the CX-3 compact

The 500-hp Corvette That Chevrolet Didn’t Talk About

– Rarely does a manufacturer make a point to not advertise one of its products, particularly one that is its peak performance offering. An exception to the rule was this 1969 Chevrolet Corvette Stingray L88. And that intentionally low profile when new is part of what makes this car so valuable today. – The brainchild of Zora Arkus-Duntov, director of GM’s performance division, the 1967 L88 Corvette was powered by

REAL ESTATE

Wall St. set to open higher on Greek hopes

U.S. stocks closed higher on Monday with the Nasdaq hitting a record high on Greece deal optimism, merger and acquisition activity and better-than-expected growth in existing home sales in May. Darden Restaurants’ shares rose 5.4 percent to $73.1 in premarket trading after the Olive Garden owner said it intends to separate a portion of its real estate assets into a real estate investment trust, proceeds of which will be used

Environmental groups sue Florida legislature over budget

By Bill Cotterell MIAMI (Reuters) – Three environmentalist organizations sued the Florida legislature Monday, accusing lawmakers of defying a constitutional mandate and short-changing conservation land purchase and water protection projects. The Republican-controlled state House and Senate concluded a special legislative session last week with passage of a $79 billion state budget that left environmentalists upset over lack of funding for what they consider key projects to protect Florida’s water resources,

Ivanhoe Cambridge leads $920 million investment in Chinese developer

By Allison Lampert MONTREAL (Reuters) – Ivanhoe Cambridge, the real estate arm of a top Canadian pension fund, said on Monday that it led a $920 million capital raise in Shanghai developer Chongbang Group, as it and others in its consortium look to Asian markets for higher returns. This is the second institutional capital raising for Chongbang, which was created in 2003 in Hong Kong by Singaporean and Hong Kong

LUXURY

Neiman Marcus adds Masterpass to ecommerce options

Neiman Marcus adds Masterpass U.S. department store chain Neiman Marcus added Masterpass by MasterCard to its online shopping options, expanding the ease of ecommerce for consumers. The addition of Masterpass comes almost a year after Neiman Marcus’ addition of Visa Checkout. Enhancing ecommerce options is crucial for department stores who often serve as the only ecommerce option for some brands. Easy purchasing Last year, Neiman Marcus added Visa Checkout as a

Louis Vuitton displays menswear at Colette

Louis Vuitton men’s shoes at Colette French leather goods house Louis Vuitton is preparing for its Paris menswear collections with a pop-up store in Paris’ Colette. The Louis Vuitton fall 2015-2016 show collection will premiere at the store as the first time ever that the men’s collection is showcased outside the brand’s own stores. Louis Vuitton’s presence in Colette will draw attention to the menswear line and the summer fashion

Robb Report acquires new executives to further digital presence

Robb Report June 2015 cover Robb Report is announcing several senior-level appointments, some that include the acquisition of previous executives from Martini Media. Earlier this year the CEO of Robb Report created a new position for Stephen Colvin, which placed him as the president of the digital division and COO of Robb Report media. Mr. Colvin’s position will be enhanced by the addition of three new senior-level employees who have

Luxury needs to settle into the “new normal”

Luxury shopping sprees have stalled Affluent consumer confidence dipped during the second quarter of 2015, landing slightly higher than during the lowest point of the recession, according to a new report from Unity Marketing. Even with this dip, the landscape is vastly different than the stress and worry of 2008, with consumers now accustomed to scaling back and indulging only occasionally on luxury. Luxury brands need to recognize that a

Lancôme, Estée Lauder among best known beauty brands in China: report

Estée Lauder Lipstick Envy In China, 68 percent of consumers rely on ecommerce to purchase prestige personal care products, according to a new report by Bomoda. Bomoda’s “China Prestige Beauty Blueprint” also found that approximately 80 percent of consumers have purchased beauty products abroad, but about 70 percent of those surveyed said they use local ecommerce sites. This shows that there is ample opportunity for luxury beauty and fragrance marketers