EssilorLuxottica Touts Growth Potential of Smart Glasses
The European eyewear company is looking to expand beyond its traditional business of making glasses and optical lenses and has pushed into the smart-eyewear market, launching products that add artificial-intelligence features under a partnership with Facebook owner Meta Platforms.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Switzerland could revise offer on Trump tariffs, business minister says
By John Revill ZURICH (Reuters) -The Swiss government is open to revising its offer to the United States in response to planned heavy tariffs, Business Minister Guy Parmelin said, as experts warned the 39% import duties announced by President Donald Trump could trigger a recession in Switzerland. Switzerland was left stunned on Friday after Trump hit the country with one of the highest tariffs in his global trade reset, with industry associations warning of tens of thousands of jobs being put at risk. The country's cabinet will hold a special meeting on Monday to discuss its next steps, with Parmelin telling broadcaster RTS that the government would move quickly before the U.S. tariffs are imposed on August 7. "We need to fully understand what happened, why the U.S. president made this decision. Once we have that on the table, we can decide how to proceed," Parmelin said. "The timeline is tight, it may be hard to achieve something by the 7th, but we'll do everything we can to show goodwill and revise our offer," he added. Parmelin said Trump was focused on the U.S. trade deficit with Switzerland, which stood at 38.5 billion Swiss francs ($48 billion) last year, with Switzerland buying U.S liquefied natural gas (LNG) among the options under consideration. Another option could be further investments by Swiss companies in the United States, Switzerland's biggest export market for its pharmaceuticals, watches and machinery. "Look at the European Union, they promised to buy LNG. Switzerland imports LNG too — maybe that's one path," Parmelin said. "Maybe more investments. But to be sure it's a strong enough basis for continuing talks, we have to fully understand what the U.S. expects." Both Parmelin and Swiss President Karin Keller-Sutter were also ready to travel to Washington to pursue talks if necessary, he added. Swiss officials rejected reports that the higher than expected tariffs were imposed after a bad-tempered telephone call between Keller-Sutter and Trump late on Thursday. "The call was not a success, there was not a good outcome for Switzerland," a government source told Reuters. "But there was not a quarrel. Trump made it clear from the very beginning that he had a completely different point of view, that 10% tariffs were not enough. "We are working hard to find a solution and are in contact with the American side," the source added. "We hope we can find a solution before August 7." Tariffs would have a huge impact on Switzerland's export-orientated economy and raised the risk of a recession, said Hans Gersbach, an economist at ETH, a university in Zurich. Swiss economic output would be reduced by 0.3% to 0.6% if the 39% tariff was imposed, a figure which could rise to above 0.7% if pharmaceuticals - which are currently not covered by the U.S. import duties - were included. Prolonged disruptions could shrink Swiss GDP by more 1%, Gersbach said. "There would be a risk of a recession," Gersbach said. Swiss shares are expected to be hit by the tariffs news when the stock market reopens on Monday after being closed during the Swiss National Day holiday on Friday. The tariffs could also see the Swiss National Bank cut interest rates in September, said Nomura. "We expect one more 25bp policy rate cut from the SNB in September, which would take the rate to -0.25%," the bank said. "A hit to growth from U.S. tariffs on exports would likely weaken economic growth and cause further deflation pressures, adding to the likelihood of easing to a negative policy rate." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
'We Can Keep Paying It, But Should We?' Why One Colorado Couple Wants To Cancel Their Homeowners Insurance
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Homeowners insurance is usually seen as a necessary expense for protecting one's biggest investment. But for some, the rising cost has raised a tough question: Is it worth it to keep paying? A Colorado Couple's Dilemma A couple in Colorado recently shared their frustration on Reddit about their homeowners insurance bill skyrocketing to more than $7,200 a year — an increase that felt hard to swallow, even with a fully paid-off home. They asked the online community: "We can keep paying it, but should we?" With no mortgage or loans against their house, they feel caught between financial pressure and the risk of going without coverage. They admit that if their home were destroyed, they couldn't afford to rebuild it. Renting in their area would likely cost between $2,500 and $3,000 a month, adding another financial strain. Shop Top Mortgage Rates A quicker path to financial freedom Personalized rates in minutes Your Path to Homeownership Don't Miss: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Why Are Insurance Costs Rising? According to CBS News, Colorado is facing some of the highest homeowners insurance premiums in the country. The state ranks second nationwide for hail insurance claims and for the number of homes located in high-risk wildfire areas. This combination pushed average premiums up more than 50% between 2019 and 2022, especially after wildfires like the East Troublesome and Marshall Fires. "We are in the hardest market in a generation for property insurance," Carole Walker, executive director of the Rocky Mountain Insurance Association, told CBS News. She explains that more people live in wildfire-prone areas than before, and "record-breaking catastrophes" are becoming more common. The Reddit couple isn't alone in these rising costs. For homeowners, like Melinda Endres of Broomfield, this has meant a sharp increase in bills, with some monthly payments jumping by nearly $440. Trending: $100k+ in investable assets? – no cost, no obligation. The Risks of Canceling Insurance Many commenters on the Reddit thread and insurance experts caution against simply canceling homeowners insurance. One Reddit user, who is both a former insurance producer and a lawyer, warned: "Do not go without homeowners insurance!" Others shared stories of people who dropped their coverage only to face disasters they couldn't financially recover from. Insurance doesn't just protect the physical structure — it can cover liability issues such as injuries on the property or damage caused to neighbors, which can lead to costly lawsuits. How Some Are Coping Experts suggest shopping around and comparing insurance quotes to find a better deal. Increasing deductibles, bundling home and auto policies, and adjusting coverage to reflect the actual value of the home rather than an inflated replacement cost are all ways to manage premiums. LendingTree reports that 13.6% of U.S. homes are uninsured, leaving millions vulnerable. "Insurance has become more expensive and harder to get in recent years," says Rob Bhatt, a home insurance expert at LendingTree. "This is putting people just one disaster away from losing the physical and financial security their home provides." , Should You Cancel? For many homeowners, canceling insurance is a gamble. While the upfront cost savings may seem tempting, the potential financial fallout from disasters, liability claims, or unexpected damages can be devastating. If insurance premiums rise to unaffordable levels, it may be worth exploring options like high-deductible plans or seeking state-backed insurance programs designed to help high-risk properties. As the situation evolves, experts encourage homeowners to carefully weigh their risk tolerance, financial situation, and local hazards before making a decision. Read Next: With Point, you can Image: Shutterstock This article 'We Can Keep Paying It, But Should We?' Why One Colorado Couple Wants To Cancel Their Homeowners Insurance originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Experts Share How Much Savings You Really Need To Retire in Florida
Florida is one of the most popular retirement destinations in the U.S., and for good reason. But how much do you actually need to retire comfortably in the Sunshine State? Read Next: Learn More: According to experts, how much you need depends on your lifestyle, location, longevity and other factors. Here's what they had to say. Also see a big money-saving opportunity that Florida retirees could be missing. How Much You Need To Retire in Florida 'We instruct our students and clients when planning for a successful retirement to focus on four L's: liquidity, lifestyle, longevity and legacy,' Myles McHale, accredited investment fiduciary and instructor at Cannon Financial, wrote in an email. 'Retiring in Florida can be possible and a dream come true — but how much you'll need depends on all of these factors. In addition, we can add one more L factor into the mix: Location.' 'The cost of living in Florida is more expensive than in other states when you factor in property taxes, insurance costs and the risk of hurricanes and flooding. All of these impact your needs in retirement,' said Alex Astin, a financial advisor with Burns Estate Planning in Florida. How much you spend can greatly impact your retirement too. 'How much you spend matters significantly more than how much money you have saved for retirement,' Astin said. It also depends on whether you have any existing debt and how much. 'If there is no debt on the books the true cost of retiring comfortably may not be as much as one would imagine,' Kevin Chancellor, a financial advisor and certified Social Security claiming strategist at Black Lab Financial Services, located in Florida, wrote in an email. According to McHale, the estimated annual retirement cost in Florida can run from a modest $5,000 to $6,500 per month to well over $25,000 in monthly spending. He recommended saving enough to replace 70% to 80% of pre-retirement income for a comfortable retirement. For someone targeting $75,000 to $80,000 in annual expenses over a 20-year retirement, McHale noted that a savings goal of around $1.6 million could be a reasonable benchmark, particularly in areas like Orlando. 'Should you aim for a modest retirement, areas like Ocala, Lakeland or The Villages, these areas offer lower costs yet great amenities,' he added. Check Out: How To Financially Prepare for Retirement in Florida A successful retirement starts with a plan and realistic expectations. To make sense of how much you'll need, it's helpful to break retirement into three lifestyle tiers: modest, average and upscale. 'Each has a different cost, and each requires a different mix of income from Social Security, pensions, IRAs, 401(k)s or other assets,' Chancellor explained. When talking to clients about expenses, Astin asks his clients how much they're spending entering retirement on things like groceries, insurance, gas and electric bills, and travel. 'You don't want to have to reduce your expenses in your golden years, which is another factor in determining how much money each individual needs to retire comfortably,' Astin explained. According to Astin, it's better to plan for higher costs than expected. 'This gives retirees breathing room if things end up being more expensive,' he added. McHale also recommended renting before buying. 'We recommend to 'try before you buy.' You have the opportunity to rent in several locations to make sure both the feel as well as the expense are the right fit for you and your family before purchasing a home,' McHale explained. 'Look for a community with good healthcare, social activities and a cost of living that fits your budget.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 How Much Money Is Needed To Be Considered Middle Class in Your State? Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on Experts Share How Much Savings You Really Need To Retire in Florida Sign in to access your portfolio
