FASHION

Savile Row Fights to Stay Relevant as Suits Fall Out of Fashion

(Bloomberg) — When the governor of the Bank of England stood up to address 300 City bigwigs last month, there was a striking difference from previous Mansion House dinners — no-one was wearing black-tie.

The historic relaxation of one of London’s stuffiest dress codes was a relief to many attendees after temperatures struck a record-breaking 40 degrees Celsius (104 degrees Fahrenheit) earlier in the day.

But heat waves and increasingly casual fashion habits pose a headache to one of the capital’s best-known industries on the other side of town: the tailors of Savile Row.

Savile Row has faced a tough time after stores closed during Covid following several years of rising rents, but the latest threats in its 200 years of history are perhaps more subtle and pervasive.

“The boundaries are blurred now” between the office and the outside world, said Nick Paget, senior editor at WGSN, a retail trends

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JEWELRY

STOCK MARKET NEWS: Nasdaq slides on Micron warning, CPI inflation data on tap

U.S. stocks were trading cautiously early Tuesday morning as investors await the release of July consumer price index reports. 

Stocks wavered Monday as investors reviewed a series of earnings reports for insight into the impact of higher inflation on companies and consumers. 

The S&P 500 fell 5.13 points, or 0.1%, to 4140.06. The Nasdaq Composite retreated 13.10 points, or 0.1%, to 12644.46 after spending much of the afternoon hovering between gains and losses. The technology-heavy index earlier flirted with a potential exit of its bear market. The Dow Jones Industrial Average added 29.07 points, or 0.1%, to 32832.54 points.

Shares of tech giant Nvidia fell $11.96, or 6.3%, to $177.93 after reporting preliminary quarterly revenue below analysts’ forecasts. The company said it expects challenging market conditions to persist in the third quarter. 

Shares of Palantir Technologies lost $1.63, or 14%, to $9.82 after it issued guidance that missed Wall

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