Forbes

In Moti Ferder’s lucrative gem-pire, selling fine baubles to A-plus List clients is only half the mission. https://lnkd.in/eqg5gXWA

New on Forbes: In the four days immediately after Trump's "Liberation Day" announcement, U.S. consumers pulled back on booking airline tickets, according to credit and debit card spending data from Consumer Edge. As shown by the chart embedded in this story, there is a clear inflection point on Apr 2, followed by a noticeable decline. It's the most dramatic hard data I've seen tying the tariffs to negative real-time consumer discretionary spending. When it comes to reading tea leaves, watch airline spending. “We get a clearer read from airlines because we’re seeing exactly when credit and debit cards are charged,” Michael Gunther, CFA explained. “If you book an airline ticket today, your credit card statement is going to show a transaction date of today.” Comparatively, hotel spending is less clean because the spending data is split between those travelers who pay upfront at the time of booking and those who pay at the end of their stay. “The good thing about the airline data is it’s actually reflecting intention, and it’s a much better real-time view of how people feel.” Huge thanks to Michael for sharing his data and insights with me. #discretionaryspending #airlines #traveldemand #economy #consumersentiment #airlinetrends https://lnkd.in/et6cNPcS

Two Siemens executives and their children who were vacationing from Spain were killed after a sightseeing helicopter crashed in the Hudson River in New York City on Thursday, according to the company and Spanish officials, as details about the victims from the latest aviation disaster are revealed publicly. (Photo: Kyle Mazza/Anadolu via Getty Images) Here's everything we know: https://trib.al/17Pv6Lj

In the vault at Lugano Diamonds’ headquarters in Newport Beach, California, CEO Moti Ferder unlocks one of dozens of drawers holding millions of dollars of jewelry to reveal a stunning necklace featuring 168 carats of diamonds cut to resemble snakeskin. “You need the light to break exactly the same from every direction, creating something that’s comfortable to wear, doesn’t catch on your hair,” he says. “All that needs to be planned.” No one custom-ordered this $1.3 million necklace, which Lugano jewelers spent some 400 hours creating. It’s one of those pieces that the 55-year-old Ferder refers to as a “yellow Lambor­ghini,” meaning it’s never the first vehicle a person buys. He knows that finding the right buyer may take years of nurturing, which is why Lugano’s approach is low-key, in which “crafting exceptional experiences” is the secret to success. Full story: https://trib.al/oLOmYbl

As the president declares war on the global economic order, it's worth remembering that, over the years, he's made millions from overseas deals and properties. Here's my rundown for Forbes of how tariffs might impact Trump-branded properties everywhere: https://lnkd.in/ghhwSsCt

Tesla’s website in China appeared to remove a feature allowing customers to purchase two car models the company imports from the U.S., an apparent change for the automaker as a trade war escalates between China and President Donald Trump. The website in China removed the “Order Now” button for its Model S sedan and Model X SUV, which are produced at Tesla’s factory in Fremont, California. It’s not immediately clear when the button was removed, however, as a version of the website included the feature as of April 6. (Photo: VCG/VCG via Getty Images) https://trib.al/VjcMl6x

Mercor is an AI firm looking to disrupt hiring with its new AI model it claims is better at placing candidates with jobs than human recruiters. Brendan Foody, cofounder and CEO, talks with Forbes Reporter Brittany Lewis about founding the company so young and what he hopes to accomplish with his cofounders. Sponsored by ServiceNow Learn More: https://lnkd.in/eJwi4gbx

Writer CEO May Habib has gone all-out for the past few months, opening four new offices with plans to double the headcount of her AI startup to 600 this year. #ForbesAI50 https://trib.al/zEoews0

Everyone knows Donald Trump likes to make deals, and he’s been making them around the world for years. The Trump Organization has slapped Trump’s name onto hotels, golf courses and luxury apartment buildings in more than a dozen countries. The latest announcement: a commercial tower in Pune, India, roughly a month after Indian prime minister Narendra Modi was one of Trump’s first international guests at the White House. The trade war that Trump kicked off on April 2 with an avalanche of new American tariffs has the potential to impact his foreign constellation of properties. That potential doesn’t come from the tariffs themselves—he’s not making products overseas and shipping them back to the U.S.—but rather the enormous economic uncertainty and turmoil they bring as they upend the global commercial order.

Most of the best data scientists aren’t working in healthcare—at least not yet. So Amgen hired a head of AI from Nike. My latest Forbes