A large seating and coworking space at the Empire Club.
Colin Miller
The Waldorf Astoria in New York City reopened in July after an eight-year, $2 billion restoration.
Residents of its new luxury condominiums gain access to exclusive amenities such as the Empire Club.
The business center and lounge features private offices, curated artwork, and 24-hour room service.
At the Empire Club, a luxe business center and lounge open only to Waldorf Astoria residents, the hotel's 24/7 room service means you never have to label your lunch in the office fridge.
After an eight-year, $2 billion restoration, the iconic New York landmark hotel now features 372 condominium residences in addition to its 375 hotel rooms. Buyers gain access to 50,000 square feet of amenities reserved exclusively for residents, including the Empire Club, in addition to all of the Waldorf Astoria's guest offerings. Prices range from $1.8 million for studio apartments to $18.75 million for four-bedroom units.
The Empire Club resembles a private members-only space, such as Ned's Club, furnished with curated art pieces and private offices available for reservation.
The Waldorf Astoria granted Business Insider exclusive access to the Empire Club. Take a look inside.
The Waldorf Astoria is located at 301 Park Avenue in New York City, spanning an entire city block in both length and width.
Waldorf Astoria, luxury hotel and condominium residence, building exterior detail and street scene, 301 Park Avenue, Manhattan, New York City.
Plexi Images/GHI/UCG/Universal Images Group via Getty Images
The Waldorf Astoria opened its current 47-story location in 1931, but the hotel dates back to the Gilded Age.
To access the Empire Club, I entered through one of the doors reserved for residents of the Waldorf Astoria.
An entrance used by residents of the Waldorf Astoria New York condominiums.
Talia Lakritz/Business Insider
Residents enter and exit through separate doors from hotel guests.
The private residents' lobby featured marble columns that appeared elongated by a mirrored ceiling.
The private lobby for residents of the Waldorf Astoria.
Talia Lakritz/Business Insider
The decor in the lobby remained true to the hotel's Art Deco heritage with bold geometric patterns and clean lines.
I proceeded up to the 19th floor, where residents can swipe into the Empire Club with a keycard.
The door to the Empire Club.
Talia Lakritz/Business Insider
The Empire Club is open 24 hours a day, seven days a week.
Spanning 3,100 square feet, the exclusive club provides a luxurious space for condominium owners to work, hold meetings, and lounge.
The lobby of the Empire Club.
Colin Miller
The interiors were designed by Jean-Louis Deniot, who also designed the Waldorf Astoria Residences. Pops of color from the furniture and artwork added dimension to the Empire Club's sleek grayscale color scheme.
The art throughout was curated by Simon de Pury, who highlighted sculptures, paintings, and other works by emerging artists.
Inside the Empire Club.
Colin Miller
"The Waldorf Astoria will have one of the largest private art collections for a condominium in New York City," Loretta Shanahan, the Waldorf Astoria's senior director of sales, told Business Insider.
When I visited on a December morning, sunlight streamed into the conference rooms, many of which were already in use by residents.
A conference room at the Empire Club.
Colin Miller
The Empire Club offers complimentary high-speed internet with a unique IP address, coworking spaces, and a range of boardrooms and conference rooms available for reservation.
The rooms are named after significant figures from the hotel's history.
A smaller conference room at the Empire Club.
Colin Miller
The Schultze room, for example, is named after Schultze & Weaver, the architectural firm that designed the Waldorf Astoria building in its signature Art Deco style in 1931.
Interior designer Jean-Louis Deniot furnished the walls and ceiling of the club's largest coworking space with a high-gloss black Macassar ebony.
A large seating and coworking space at the Empire Club.
Colin Miller
"In order not to break that wall and ceiling square grid, I used LED lighting strips between each square to emphasize the geometry, giving the space an active and elevated atmosphere," Deniot said in a statement to Business Insider.
The club also has smaller rooms with private office layouts.
A meeting room at the Empire Club.
Colin Miller
"A lot of buyers don't live in New York full-time, but they're here two, three, four days a week, and they need to take meetings," Shanahan said. "This is a perfect option."
The club includes a pantry and kitchen for catering or small dining events, though members also enjoy free room service at all hours.
The kitchen and pantry at the Empire Club.
Colin Miller
The Waldorf Astoria is widely recognized as the inventor of room service, introducing the offering in 1931.
To end my tour, I was led through a residents-only passageway back into the hotel's famous lobby and Peacock Alley.
Peacock Alley at the Waldorf Astoria.
Talia Lakritz/Business Insider
I was struck by how easy it was to get from the Empire Club to the rest of the hotel, offering condominium owners the shortest possible commute.
If you are looking to beat the market in 2026 (who isn’t?), then read on!
That’s because the ASX 200 shares listed below have been tipped by analysts to deliver outsized returns for investors over the next 12 months. Here’s what they are recommending to investors:
The team at Macquarie Group Ltd (ASX: MQG) thinks that this network-as-a-service provider could be an ASX 200 share to buy.
Last week, the broker boosted its earnings estimates to reflect the recent acquisition of Latitude, which it highlights gives the company exposure to a fast-growing end market. It also provides the company with exposure to the blockchain and the growing stablecoin market. Macquarie explains:
Customers already consume compute products, but Megaport (MP1) has not historically sold compute. Latitude’s product offering is highly complementary to the existing product set and offers a direct position in a large and fast-growing end market. Stripe, Mercado Livre and Grok are new customer wins.
With multiple new compute use cases, Latitude expands value prop to high-value customers. It is particularly relevant for stablecoins, with rapid recent growth in this space.
In response, Macquarie has put an outperform rating and $21.70 price target on Megaport’s shares. Based on its current share price of $13.17, this implies potential upside of approximately 65% for investors over the next 12 months.
Another ASX 200 share that could rise strongly in 2026 according to analysts is this Mexican food focused quick service restaurant operator.
Morgans thinks that its shares are undervalued at current levels. Especially given its belief that the company’s latest limited time offer will help drive same store sales growth and be supportive of its margins. It explains:
GYG has launched its latest limited-time offer (LTO): the BBQ Chicken Double Crunch (BBQ CDC). Early feedback suggests the item is one of GYG’s more indulgent menu items and taste tests have been overwhelmingly positive. The product leverages existing ingredients, meaning no incremental complexity or cost for stores, a margin-friendly innovation that aligns with GYG’s operational discipline. Management has repeatedly emphasised that menu innovation is a key lever for same-store sales (SSS) growth, and this launch reinforces that commitment. We reiterate our BUY rating.
The broker has a buy rating and $32.30 price target on its shares. Based on its current share price of $21.05, this suggests that upside of 53% is possible for investors over the next 12 months.
Should you invest $1,000 in Guzman Y Gomez right now?
Before you buy Guzman Y Gomez shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Guzman Y Gomez wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Key Points
Some investors are worried that AI infrastructure spending is going to slow down.
Nvidia’s competitors are stepping up their game.
Nvidia(NASDAQ: NVDA) has been one of the best stocks to own since 2023. It outperformed the market every year over that period, but 2026 could present some new challenges. The narrative around the artificial intelligence (AI) infrastructure buildout and Nvidia’s dominance in the AI-accelerator chip niche is changing, which could have implications for its stock performance next year.
Many investors who have held the stock for a while are sitting on monster gains. But is it time for folks to take those profits and move on from Nvidia, or is it just getting started?Â
All indications point toward more growth
Nvidia makes graphics processing units (GPUs) and other hardware and software to support them. It has been the leading maker of such chips by far for many years, which made it the top dog in the AI accelerator space when demand for such hardware skyrocketed. However, some rivals are stepping up their challenges.
Fellow GPU maker AMD recently announced a partnership with OpenAI to provide it with 6 gigawatts of computing power. (For reference, Nvidia’s deal with OpenAI is for 10 gigawatts). Meanwhile, Broadcom has been making headway by collaborating with several hyperscalers to design custom AI accelerators for more narrowly defined purposes. Among these application-specific integrated circuits (ASICs) are Alphabet‘s Tensor Processing Units, which it has been installing exclusively in its own data centers. However, according to recent news articles, Alphabet is allegedly in talks to sell some TPUs to Meta Platforms — one of Nvidia’s largest customers.
All of this has some investors worried that Nvidia may be losing its dominance in AI. However, I don’t think that’s happening. CEO and founder Jensen Huang noted during the Q3 earnings announcement that it is “sold out” of cloud GPUs. Some AI hyperscalers may be sending some business to alternative computing providers simply because they can’t get all the computing power they need from Nvidia.
So, the narrative shouldn’t be that Nvidia is losing its dominance; it’s that Nvidia is avoiding overextending itself. This should be welcomed, as its shareholders were previously burned when the company overextended itself twice during cryptocurrency bull markets. (GPUs are also well suited for mining proof-of-work cryptos, and were in high demand for that purpose.)
The overall market for artificial intelligence computing devices is massive, and it’s OK if Nvidia doesn’t capture all of it. After all, it expects global data center capital expenditures to rise to a range of $3 trillion to $4 trillion annually by 2030.
But will all of this add up to a stock that outperforms the market in 2026?
The AI buildout continues
All of the AI hyperscalers have informed their investors that they should expect record-setting capital expenditures again in 2026. Wall Street analysts have built those forecasts into their expectations for Nvidia: The average analyst projects 48% sales growth in its fiscal 2027, which will end in January 2027. It would be hard for a stock to underperform the market while posting results like that, unless it was previously drastically overvalued.
Nvidia’s stock trades for 24 times next year’s earnings. That isn’t necessarily cheap, but it’s not terribly expensive either.
Compared to AMD and Broadcom, which trade for 33 and 30 times next year’s earnings, respectively, Nvidia does look cheap. It’s also the second-cheapest “Magnificent Seven” stock by this metric.
Unless something drastic happens that changes the spending plans of data center operators, I think Nvidia will outperform the market again in 2026. And with the stock down by more than 10% from its recent high, this could be a perfect time to buy shares.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Should you invest $1,000 in Nvidia right now?
Before you buy Nvidia shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nvidia wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Keithen Drury has positions in Alphabet, Broadcom, Meta Platforms, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Advanced Micro Devices, Alphabet, Meta Platforms, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom. The Motley Fool Australia has recommended Advanced Micro Devices, Alphabet, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
So there will be a huge amount of investment in AI infrastructure.
What I did off the back of this trip is I bought a whole lot of aluminium stocks, because aluminium looks pretty good. So we got Alcoa Corporation CDI (ASX: AAI).
Coal looks good, so we bought Whitehaven Coal Ltd (ASX: WHC).
Haupt and his team also conducted a deep assessment on global demand for steel.
The prospect of an interest rate hike in Australia next year also creates a headwind for ASX bank shares.
Haupt notes the recent divergence in US monetary policy from Australian monetary policy in 1H FY26.
This week, the Reserve Bank of Australia (RBA) kept interest rates on hold while the US Fed cut for the third time in four months.
The Australian cash rate is 3.6% while the US interest rate range is now 3.5% to 3.75%.
Haupt says offshore capital is rotating out of Australia and back into North Asia.
The reason why banks and a whole lot of our (major) stocks went crazy was a lot of offshore money was hitting the ASX and also our debt capital markets; basically China was seen as uninvestible.
What we’re seeing now is China’s getting better and capital is flying back.
He added:
So some of those silly valuations we saw, particularly in CBA and the rest of the banking sector and Wesfarmers Ltd (ASX: WES), are in reverse now and we expect that to continue.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BHP Group wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bronwyn Allen has positions in Alcoa and BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended BHP Group and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Disney CEO Bob Iger has overseen several AI initiatives, including the "DisneyGPT" chatbot.
Valerie Macon/AFP via Getty Images; Business Insider
Disney just struck a partnership with OpenAI that includes a billion-dollar investment.
Internally, the company has provided employees with a set of AI tools, including a "DisneyGPT" chatbot that uses Walt Disney quotes.
A chatbot codenamed "Jarvis" is also in the works, four staffers said.
Disney's billion-dollar OpenAI deal isn't the only way the company is embracing AI. In recent months, the Mouse House has been quietly adding new AI tools to its arsenal and encouraging staff to use them.
"They clearly see where things are headed," a longtime software engineer at Disney said. This marked a shift from this summer, when Disney had seemed "hesitant to rely on AI tools," they said.
Disney has given its employees access to several AI tools, including Microsoft Copilot and Amazon's Q Developer. Thanks to Disney's OpenAI deal, employees will also soon have access to the enterprise version of ChatGPT, the company said.
Then there's a "DisneyGPT" chatbot that four staffers said helps with internal requests, such as creating IT support tickets, viewing the company roster, or analyzing a project's financials.
In an email sent to staff on October 2, Disney introduced the beta version of the chatbot, describing it as a "new partner in productivity" designed to help "unlock the magic of your imagination." A December update enabled employees to upload Excel and PowerPoint files to the bot.
Disney has a chatbot called "DisneyGPT" that assists employees with work or internal questions.
Business Insider
DisneyGPT draws on signature Disney themes, with a prompt asking users if they're "ready for an enchanting adventure" and "a verified collection of Walt Disney quotes" that are "tagged by themes like imagination, perseverance, and leadership," according to the chatbot's December update log. Otherwise, employees said DisneyGPT is mostly a standard AI chatbot.
There's also an AI chatbot in the works codenamed "Jarvis," four employees said. Jarvis, named for the personal assistant "J.A.R.V.I.S." from "Iron Man," would be an agentic AI tool — more advanced than DisneyGPT — that completes tasks on an employee's behalf, a high-level staffer with direct knowledge of the company's AI efforts said. This person said Jarvis is in its early stages and is "not fully baked."
Disney is working on an AI chatbot called "Jarvis," named after the assistant in Iron Man's suit.
Daniel Fung/SOPA Images/LightRocket via Getty Images
"It's definitely something they want to push for everyone to lean into more," a Disney manager said of AI.
Companies in every industry are racing to adopt AI tools to boost productivity. Disney is going further than many, however. The OpenAI deal makes Disney the first major entertainment company to invest in the AI juggernaut, and allows its beloved characters to be used in the video generator Sora.
This reflects Disney's long tradition of merging innovation and entertainment, dating back to its founder, Walt.
Three of the eight Disney employees who spoke with Business Insider expressed concerns about using AI, specifically that it could replace humans and threaten job security.
The high-level employee with direct knowledge of Disney's AI strategy said that while AI is a "top priority," it isn't a cure-all. It can make mistakes and lacks a "personalized touch" that people provide, they said.
"If you use AI everywhere, it's going to be counterproductive," this person said, adding that tasks still need human creativity.
Disney spokespeople didn't respond to several requests for comment on its internal AI efforts.
On an internal Disney website explaining its AI policy and tools, the company said it employs a "responsible and human-centric approach to using AI."
"That means humans are, and will remain, the creative engine of the company," Disney said on the site. "We believe, fundamentally, that human creativity and curiosity are immense and unique — and are at the heart of Disney."
"Simultaneously, our consistent embrace of new technologies has been a key part of empowering our creators and maintaining our leadership in creativity and innovation," the company continued in its "Responsible AI Use" section.
How Disney employees use and see AI
Seven of the eight Disney staffers Business Insider interviewed have tried or regularly use DisneyGPT or Copilot, which is integrated into employees' email accounts and documents. Many use those AI tools for simple, routine tasks, like writing emails.
Disney has a portal on its website that outlines its AI policy and lists Disney-approved AI tools. Two employees said the company has pointed staffers to AI education or compliance training courses.
Some unsanctioned AI tools like Anthropic's Claude can be more effective than Disney-approved AI tools, three staffers said.
One employee at Disney-owned ESPN said their manager told them they could use personal accounts on non-approved AI chatbots for work.
"I'm just using a personal account because Disney isn't allowing us to use these tools yet," the ESPN employee said.
The staffer with direct knowledge of Disney's AI efforts said leadership had tried to make communications about AI "clear across the board," but acknowledged that workers might not "understand the implications" of data security risks that could arise from using unsanctioned AI tools. Some staffers told Business Insider it was hard for them to keep up with the availability and restrictions on various AI tools.
While some Disney employees expressed mixed feelings about AI, the more bullish among them said Disney was wise to strike a deal with OpenAI.
"This type of a partnership at least establishes the precedent for getting paid," the ESPN employee said.
A Disney ads employee said they believed Disney's deal with OpenAI would "pay off" and "be massive" in five to 10 years, even if there are growing pains.
"Disney is smart to push into this," this staffer said. "They are setting the rules of the game, or at least trying."
Lawsuits and regulatory challenges have tried to change the way the store works for years
Now that might — might — finally be happening. If it does, it's a big deal.
When you spend a dollar at Apple's App Store, up to 30 cents of that goes to Apple.
Now, a US court ruling may change that radically — opening up a future where Apple collects almost none of the money users spend on apps.
Emphasis on may: Developers and regulators have been complaining about Apple's App Store fees for years. And while they've won some battles, Apple has been able to keep its business more or less intact — which is a big reason Apple's services business, a core part of the company's financial machinery, has kept growing even as iPhone sales sputtered.
Epic Games CEO Tim Sweeney, Apple's most committed opponent on this front, says this time is different. Sweeney, whose company makes the (still) popular Fortnite game, intentionally broke Apple's App Store rules in 2020, which got Fortnite kicked off iPhones and started a legal brawl that's still working its way through the courts.
He thinks a new ruling from a federal appeals court is the one that will fundamentally change the way Apple's App Store works. The big takeaway: While Apple was previously forced to let developers like Sweeney tell Apple users they could buy things (like game credits) directly from a developer instead of using Apple's App store, Apple was still charging a 27% fee on those transactions — meaning there was little practical reason for anyone to do it, since the fee was nearly the same on Apple's seamless iOS platform. Now the court is saying that fee is a "prohibitive commission," and says it should be scrapped.
What replaces it? We don't know: The court ruling suggests that Apple and Epic try to work something out. And failing that, a court will do it.
But in Sweeney's eyes, the ruling makes it clear that Apple will only be able to charge a truly minimal fee if someone wants to buy something outside of its App Store, given that it's not likely to incur any meaningful costs when people buy something off-site.
On a press call Thursday night, I pushed Sweeney to try to guesstimate what that fee might be. He ended up with something like this math: An app that generated $1 million in annual revenue might generate costs of up to "several thousand dollars" for Apple; passing along those costs to consumers would mean something like less than 1%.
So: If Apple's fees on transactions that happen outside its App Store are truly capped at a tiny number and lots of developers and users start to take advantage of that — meaning lots of users start spending money on iPhone apps outside of Apple's iOS ecosystem — then this could be a very big deal for Apple, developers, and users. It would deprive Apple of a crucial revenue stream, and either give developers more money or users lower prices (or some combination of both).
So far, Wall Street seems unfazed: Apple stock is more or less unchanged since the court's ruling was released late Thursday afternoon, presumably because investors expect the fight to keep going via an Apple appeal. (I've asked Apple for comment.)
There's also a question of whether normal people who buy things for apps — mainly games — on iPhones want to spend time and energy buying things for those apps on other platforms, even if they can save money.
On his press call Thursday night, Sweeney acknowledged that so far most developers haven't followed Epic's lead and aggressively pushed the idea of off-platform purchases, which he says is due to "fear that Apple will retaliate against them."
Entirely possible. But it's also possible that a meaningful number of developers and users just don't want to deal with extra hassle, and are willing to eat costs for convenience.
If this really is a turning point, you'll see it when the stuff you buy in apps gets cheaper or comes with better rewards. We're not there yet.
Fans of the Amazon show "Fallout" spotted errors in the company's AI-made video recap of season one.
Joseph Okpako/Getty Images
Amazon Prime Video introduced AI-powered TV show recaps in November.
Fans of "Fallout" spotted inaccuracies in its AI recap of season one.
The company then removed the feature from its platform.
Given the length of time it can take for the new season of your favorite TV show to come out, it's understandable that you might want a little video recap of what's happened so far.
Ideally, that recap is accurate.
Fans of Amazon's hit show "Fallout" said that wasn't the case in its AI-made synopsis of season one, released ahead of the hit show's new season next week. Fans quickly spotted factual errors, and Amazon Prime Video took down the recap.
One Redditor said the AI feature told viewers that a flashback featuring the Ghoul (one of the main characters, played by Walton Goggins) took place in the 1950s instead of 2077.
An X user posted that the recap also mischaracterized the agreement the Ghoul and Lucy MacLean (played by Ella Purnell) made in the "Fallout" finale.
Instead of saying the pair is teaming up to find Lucy's father, the recap said the Ghoul gave Lucy an ultimatum: "die or join him."
Amazon first launched its Video Recap, a feature that allows users to catch up on Prime Original TV shows between seasons, for beta testing in November.
"Video Recaps use AI to identify a show's most important plot points, combining them with synchronized voice narration, dialogue snippets, and music to create a visual summary that prepares viewers for the new season," the company said in a press release at the time.
The TV shows that Amazon said were undergoing Video Recaps testing — "Jack Ryan," "Upload," "Bosch," and "The Rig" — did not include the feature at the time of writing.
Representatives for Amazon did not respond to a request for comment from Business Insider.
Like so many companies, Amazon is investing heavily in AI.
During the company's February earnings call, Chief Finance Officer Brian Olsavsky said that 2025 capital expenditures could reach over $100 billion, with the majority of it going toward AI and Amazon Web Services, its cloud computing platform.
Many of Amazon's consumer services have integrated AI to enhance user engagement and experience, such as product suggestions and helping shoppers on its online platform find clothes that fit. In February, Amazon unveiled Alexa+, the next generation of Alexa, which is powered by generative AI to make it more conversational and personalized for users.
Embracing AI at Amazon, though, hasn't been without growing pains. In October, the company cited AI as it announced it would lay off 14,000 staff members.
"This generation of AI is the most transformative technology we've seen since the internet, and it's enabling companies to innovate much faster than ever before (in existing market segments and altogether new ones)," Beth Galetti, Amazon's senior vice president of people experience and technology, wrote in a blog post at the time.
In an internal message to the remaining staff, Amazon Vice President of Device Software and Services Tapas Roy asked them to "lean in on AI."
"Moving forward, we remain focused on our mission to help product teams launch delightful products," Roy wrote. "In support of this mission, I encourage you all to: Focus on the work that most directly impacts our customers, lean in on Al to enhance your effectiveness, [and] raise your hand when you see opportunities to simplify or eliminate unnecessary processes."
A Chanel bag masquerading as a shopping cart sold for a record $152,000 at a Christie's auction.
It's the most ever spent on a Chanel bag — but far from the most expensive handbag ever sold at auction.
The booming luxury resale market is expected to grow three times as fast as the firsthand market.
It's not just grocery prices that are high — it's also the shopping baskets, or at least some of them.
A Chanel handbag cosplaying as a grocery basket sold for $152,400 at auction on Thursday, breaking brand records.
The piece — the rare, runway silver and black lambskin leather shopping basket bag from 2014 — sold for more than 10 times its low estimate of $15,000 at the online auction from Christie's.
That's a lot of money, but far from the most expensive handbag ever sold.
In July, Hermès' original Birkin bag — worn by Jane Birkin, herself — sold for $10.1 million, becoming the most valuable handbag ever sold at auction. The iconic purse went to a private collector in Japan, who phoned in and won a 10-minute bidding war.
While items selling for millions, or even six figures, may be rare, the luxury resale market is booming.
The secondhand fashion and luxury market is expected to reach $317 billion by 2027, according to a McKinsey report published last month, and it's growing three times as fast as the firsthand market. Secondhand luxury retailers like The RealReal and Fashionphile have recorded double-digit revenue growth this year.
Most luxury resale shoppers are turning to the market to find more affordable options, particularly as handbags from some of the biggest names have experienced significant price hikes over the past few years.
Chanel is one of the worst offenders. The price of its iconic flap bag nearly doubled between 2019 and 2024. This year, the brand increased prices again, hiking those of about 21% of its products by 5% in February, according to research from Citi. Add Trump's tariffs to the mix, and luxury handbags are more expensive than ever.
That said, it's not all deals on the secondhand market. Some savvy shoppers are treating luxury resale as an investment opportunity. Bags from Chanel sold for as much as 30% over their retail value on The RealReal last year.
Classic handbags from brands like Louis Vuitton and Hermès tend to hold their value for years. Some of the most coveted handbags even sell for more on the secondhand market.
Travis Kelce said in his podcast "New Heights" that he and Taylor Swift never argue.
During the podcast, the brothers asked George Clooney about how he also never argues with Amal.
I, on the other hand, fight with my partner regularly and we've been together for 30 years.
As a happily married amateur matchmaker who has helped fix up 30 marriages and was set up with my own miraculous mat, I have rooted for Taylor and Travis's inspiring relationship from the start.
Whether they're confirming their mutual support for each other's work, showing kindness to their doormen and drivers, or giving to charity, I find the adorable, winning couple to be excellent role models.
Yet I admit the Kansas City Chiefs' recent claim that they never fight set me off.
Fighting can be healthy
First, they've only been together for two years, most of it long-distance, during her almost two-year "Eras" tour spanning 149 shows across five continents, while Travis played a total of 31 regular-season games in the last two seasons, not to mention the hours spent in training, recovery, and travelling to see each other.
It's amazing they had time to share a dance onstage, grab dinner, "knock on wood," and do a few cute podcasts together.
Then George Clooney co-opted the conversation by confessing that he and Amal have never had an argument in their 10-year marriage.
As a bestselling author of books my family hates and writing professor in a successful union with someone I adore for 30 years, I felt like screaming: "That's the opposite of a healthy message to give your children, friends, and fans!"
To leave Hollywood fantasy for a truly fulfilling and realistic connection, it's crucial to be able to speak up, disagree with your partner, express yourself amiably, and still feel cherished and appreciated. Otherwise, you're encouraging your partner to keep quiet, repressing their needs and longings to avoid any contention.
I fight with my partner all the time
Indeed, my beloved and I have combative words daily, whether it's me pushing him to hurry up and get ready (he's always late) or him admonishing me to slow the hell down (I tend to be Type A and early), or barking at him to "clean up his damn clutter" motivating him to snarl that I need to stay out of his den and leave his stacks of books, DVDS, and papers lining the floor and tables alone, where they belong.
The author and her partner have been together for 30 years.
Courtesy of the author
Of course, we try not to raise our voices, swear, criticize, or call each other names — although a stray "slob," "control freak," and "screw you" have been known to surface in the swirl of passion. Afterward, having honestly expressed our displeasure, we return to our otherwise fairly harmonious existence.
My parents also fought often
I grew up overly sensitive with a tough, brilliant doctor father and three science-brain brothers in the Midwest who trashed my opinions, liberal platitudes, and poetry. Instead of cowering under their constant criticisms, I learned to yell, "Go chew on yourself," and became a prolific writer, probably as a way to amplify my views and talk without being interrupted. The friction taught me the toughness I later needed to conquer a big city, carry on two careers, and hold my own in a long marriage to a high-powered, hilarious, albeit stubborn urbanite.
My parents, blissfully besotted for 64 years in Michigan with four kids and five grandkids, quarreled often and well.
Once, when they had friends over for dinner, and my mother disagreed with his political stance, Dad made the mistake of responding by muttering, "Stick to your dishes." She looked him in the face and replied, "You didn't tell me that when I was working to put you through medical school for seven years!" which shut him up immediately. He soon apologized profusely, as he should have.
Luckily, Kylie Kelce, Taylor's soon-to-be sister-in-law, got real by leaping right into the fray. Talking about her and Jason, her husband and the father of her four little kids, she confessed, "We absolutely argue."
Asking brides to "love, cherish, and obey" their grooms entered traditional wedding vows in 1594, and this is now considered completely outdated. In fact, if you want your union to last, you have to love, cherish, and argue all the way down the aisle.
Higher interest rates are bad news for many S&P/ASX 200 Index (ASX: XJO) stocks, but they could offer tailwinds for Commonwealth Bank of Australia (ASX: CBA) shares and the other big four Aussie bank stocks.
That’s according to the latest Australian Banks report, just out from Macquarie Group Ltd (ASX: MQG).
According to the broker, ANZ Group Holdings Ltd (ASX: ANZ), National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC), and CBA shares could all enjoy a material uptick in earnings per share (EPS) if the RBA hikes interest rates twice in 2026 rather than cutting once.
Should ASX investors expect RBA interest rate hikes in 2026?
Please don’t shoot the messenger.
But, yes, if you’re buying ASX stocks, including CBA shares, you should do so with the expectation that the RBA may well transition from cutting interest rates to lifting them next year amid resurgent inflation.
According to Macquarie:
Market expectations for the cash rate have shifted significantly following stronger employment, CPI, and GDP reports which suggest the economy is operating close to its capacity. This has seen pricing for the cash rate by end-26 move from ~1 additional cut (as in our current forecasts) to ~2 hikes.
Citi economist Faraz Syed is among those who are now forecasting two interest rate hikes from Australia’s central bank next year.
“We believe a tight labour market, new (higher) inflation forecasts, strong housing and household consumption all point to monetary policy being too accommodative,” Syed said (quoted by The Australian Financial Review).
“Therefore, we shift our no policy change view to 50 basis points worth of rate hikes in 2026, starting as early as February, followed by May,” he added.
What does this mean for ASX 200 bank stocks like CBA shares?
Macquarie noted that higher interest rates should drive materially higher margins for CBA shares as well as for ANZ, NAB, and Westpac.
The broker added:
Alongside the shift in rate expectations, swap rates have also moved materially higher, with 3 and 5 year swap rates increasing by ~40bps since mid-Nov. This shift in both cash rate expectations and swaps suggest material upside to bank margins if it’s sustained.
Macquarie said that some of the benefits the ASX 200 banks receive from higher interest rates would be eroded by increased competition. Though the broker still sees a significant upside to the banks’ forecast earnings.
“While we don’t expect consensus to fully reflect this potential upside, the shift in the rate outlook does suggest upside to consensus earnings as we approach February results,” Macquarie noted. “That said, higher rates also present some downside risk to bank multiples and expectations for the housing market / credit growth.”
According to the broker:
Our analysis suggests a 5-10bps upside to our current 2H27 margin forecasts if rates are sustained. However, with a significant share of this likely to be offset by increased competition, we estimate the improvement in margins would be a more modest 3-5bps upside, or 3-6% upside to earnings.
And Macquarie expects that Westpac and CBA shares will benefit more than ANZ and NAB shares if the RBA hikes rates next year.
Macquarie said:
Based on unhedged retail / business transaction deposits we estimate the ~75bps swing in cash rate expectations [from the prior expectations of a 0.25% cut to new expectations of a 0.50% rate hike in 2026] equates to 2-4bps of upside to our margin forecasts across the banks (more for CBA and WBC, and less for ANZ and NAB).
We assume full pass through on savings deposits, but competition could see a more modest impact.
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Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.