October

Business FashionTrending

New York Fashion Week

New York City has been making substantial progress towards a return to normalcy within the past few weeks. Several city traditions such as Broadway and the Met Gala have returned after last year’s cancelations due to the pandemic. One of the most prominent events in the city includes New York Fashion Week. Organized by the Council of Fashion Designers of America (CFDA), New York Fashion week is a biannual series of runways shows and demonstrations used by designers to present their collections for the upcoming fashion seasons. Typically, New York Fashion Week brings over 230,000 visitors to the city and generates approximately 900 million dollars for the city’s economy. With a year long hiatus, designers went all out for this year’s event using unconventional and creative ways to show off their new collections. 

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InternationalNews

German Election Results Likely Mean Social Democrat-Led Coalition

Former German minister of Finance Olaf Scholz is likely to be the next German Chancellor after this year’s election in Germany, marking an end to Angela Merkel’s 16 year run as Chancellor. Scholz and his party, the center-left Social Democrats (S.P.D.), emerged victorious in the Sep. 26 election, winning 25.7% of the total vote, compared to 24.1% for Merkel’s party, the conservative Christian Democratic Union (C.D.U.), which suffered the worst defeat for the party since its founding in the years after World War II. Merkel, however, opted not to run for reelection, marking the first time a sitting chancellor has done so in the postwar era.

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FinanceTrending

Goldman Sachs Pleads Guilty to 1MDB Scandal and Pays $2.9B Fine

Last Thursday, Goldman Sachs Group, Inc. agreed to pay a $2.9B fine to regulators for raising funds for 1Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund tied to multiple cases of fraud and corruption. Dubbed as “one of the biggest financial scams in history,” the United States Department of Justice (DOJ) has led one of the world’s largest investment firms to plead guilty after further investigations ensued.

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