Morning Business Report: Markets react as Trump doubles down on Greenland, major brands face backlash, and AI reshapes shopping
President Trump says there is no going back on Greenland, as tensions over the Arctic island continue to escalate and rattle global markets.
(LILAMAX)- President Trump says there is no going back on Greenland, as tensions over the Arctic island continue to escalate and rattle global markets.
The growing dispute sent markets reeling Tuesday, with stocks sharply lower as the president pushes his quest for Greenland into an economic fight with Europe. Interest rates jumped worldwide, while gold posted its third record close of the year.
President Trump is set to speak today at the World Economic Forum in Switzerland, where the issue is expected to remain a major focus.
Meanwhile, Lululemon has paused sales of its “Get Low” leggings after customers complained the clothing was too sheer. The company is facing backlash over what shoppers describe as poor quality. Lululemon has dealt with similar issues involving see-through yoga pants in the past.
In other business news, Wells Fargo is moving its wealth management headquarters to West Palm Beach, Florida. The move highlights a growing shift of money and corporate influence away from traditional financial hubs toward low-tax, business-friendly states. The relocation makes Wells Fargo the first major U.S. bank to base its wealth-management operations in the Sunshine State.
Artificial intelligence is also transforming the shopping experience.
Jo Malone London recently launched its AI Scent Advisor, allowing customers to describe a mood, memory, or favorite vacation spot to receive personalized fragrance recommendations through natural conversation.
Home Depot is expanding its “Magic Apron,” an AI-powered digital consultant built with Google Cloud that acts as a personal project coach. The tool not only helps customers find materials, but also reminds them of tools, screws, and sealants they may need for home projects like building a deck.
