Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek".
Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashion...before breaking off to make his own name. We see how Bembury is able to walk the line of business convention while taking his art to new heights, turning ordinary items into extraordinary footwear. Follow along as he lays out the blueprint for his career, and takes us all the way from his first sketch to his thriving personal brand, Spunge.
UK Workers Miss Out on Europe’s Shift to Fewer Hours on the Job
China Stocks Hope, Cheap Singapore Flats: Saturday Asia Briefing
Ukraine Economy Contracts Less Than Expected Despite Attacks
Canada Suffers Minor Job Losses, Snapping Eight-Month Streak
Fed Seen Ending Its 15-Month Hiking Campaign in Economist Survey
Why Billionaires Are Circling Debt-Laden French Grocer Casino
Texas AG Paxton Associate Nate Paul Is Indicted in Austin
OpenAI’s CEO Calls on China to Help Shape AI Safety Guidelines
Tesla’s Record Run Drives Nearly $200 Billion Jump in Value
Nordic Capital Pursues Temenos as Other Suitors Drop
Starmer Sacrifices Key Proposal to Protect His Path to Victory
Four Children Lost in Colombian Jungle After Plane Crash Are Alive
US Housing Market Is Missing 320,000 Affordable Homes
Trump Suit Against Niece Over NY Times Story Advances: Judge
Two of Paul Newman’s Daytona Rolexes Sell for More Than $1 Million
Smoky Orange Haze Amplifies Focus on Ventilation
Hedge Funds Meet Their #MeToo Moment
The Next Presidency Hinges on Trump's Court Case
The Netflix Effect Chills Foreign Content Creators
Payrolls, Prices, Productivity and Profits Hold the Answer to the Puzzling US Economy
Will Argentina Ditch the Peso for the Dollar?
Sunak Urged to Publish UK Report on Abuse of LGBTQ Soldiers
Dimon Sought for Fresh Deposition in JPMorgan Epstein Suit
After Lobbying Crush, Biden Set to Boost Biodiesel in Nation’s Fuel
What East Coast Cities Can Learn About Wildfire Policies From the West
NYC Pays Over $300 a Night for Budget Hotel Rooms for Migrants
Connecticut May Ban Collection Tactic Used in Cash-Advance Loans
Deep Drought Punishes Latin American Clean Water Pioneer
Robinhood Removes 3 Crypto Tokens Following Regulatory Crackdown
Coinbase Suit May Finally Send Crypto Debate to US Supreme Court
A New Crypto Banking System Arises Under the Shadow of a Regulatory Crackdown
Experts weigh in on investing in classic cars, wine, sports memorabilia, watches and handbags.
Illustration: Sisi Kim
Expectations were high at an April auction for a pair of Michael Jordan’s sneakers, which Sotheby’s estimated would sell for $2 million to $4 million. An anonymous collector had agreed in advance to pay an undisclosed amount for the used Air Jordans (an “irrevocable bidder” in auction parlance); the only question was how many people would try to top that existing price. The answer, it turned out, was zero.
The sneakers sold after one bid, presumably to that irrevocable bidder, for $1.8 million. With auction house fees, the total came to $2.2 million, squeaking past the low estimate but nevertheless a global auction record.