FT : Brunello Cucinelli questioned by Italian regulator over short seller claims

Brunello Cucinelli questioned by Italian regulator over short seller claims
Consob seeks assurances that luxury brand did not mislead market over its Russian operations

Italy’s financial regulator is scrutinising whether Brunello Cucinelli misled investors over its operations in Russia, after a short seller published detailed allegations that wiped more than €1bn off the luxury group’s market value on Thursday.

Consob wrote to the company seeking clarity over comments made to the Financial Times last weekend by Cucinelli chief executive Luca Lisandroni, in the wake of a report by London-based Morpheus Research, according to people familiar with the exchanges.

Lisandroni told the FT that Cucinelli’s stores in Russia were closed and that any goods it sold in the country were in compliance with EU sanctions.

But London-based Morpheus alleged on Thursday that Cucinelli’s stores in Russia remained open and that they were selling products at values well in excess of the legally permitted amount.

In 2022, the EU banned exports of luxury goods worth more than €300 to Russia. Morpheus has taken a short position in Cucinelli shares, which fell 17 per cent on Thursday.

Consob’s scrutiny does not amount to a formal investigation and comprises a normal part of the regulator’s oversight process when a stock fluctuates sharply on a single day, for reasons unrelated to broader market conditions, the people said. Consob declined to comment.

Lisandroni told the FT last week that while its stores in Russia were closed, the brand was offering “one-on-one sales” in its showroom in the country.

He said sales were limited to goods that either fell below the €300 export threshold or those that were imported into Russia before sanctions came into effect.

However, Morpheus claimed that undercover shoppers saw items priced at the equivalent of more than €1,000 in Cucinelli’s Russia stores in August and September, and that they were labelled as having been manufactured in Italy in either 2024 or 2025.

People close to Cucinelli said the goods cited in the report complied with sanctions because they had been imported before 2022 and were retagged this year.

The allegations are potentially damaging for Cucinelli, whose namesake founder, Brunello Cucinelli, extols the virtues of “humanistic capitalism”.

Analysts at Bernstein said in a note on Friday that Cucinelli “needs to start damage limitation asap to protect its reputation with customers and investors alike”.

While noting that supply chain scandals at Dior and Loro Piana had apparently had little to no impact on sales, the analysts said that because Cucinelli prided itself on selling “ethical and sustainable” luxury, it could face a more pronounced backlash from customers.

FT : Pete Hegseth’s sudden military summit stirs concern and speculation

Pete Hegseth’s sudden military summit stirs concern and speculation
US defence secretary calls top brass to Virginia for highly unusual meeting

US defence secretary Pete Hegseth has sparked widespread concern among defence experts and military officers with an abrupt decision to summon hundreds of generals and admirals to Virginia next week.

The highly unusual meeting is shrouded in mystery and intrigue given the invitees are unclear of the agenda.

It has also prompted alarm over the risks to active operations and the military’s ability to respond to any attacks that come with calling so many senior officers away from their commands simultaneously.

Hundreds of general and flag officers — generals and admirals with one to four stars — have been ordered to assemble in Virginia, along with their top enlisted advisers, according to a US defence official. There were 838 active duty general and flag officers — including 446 of the higher-ranking two-, three- and four-stars — as of June, according to the Pentagon, though the exact number called for Hegseth’s meeting was unclear.

Hegseth “will be addressing his senior military leaders early next week”, said chief Pentagon spokesperson Sean Parnell in a statement. The Pentagon did not give any more details about the meeting, which was first reported by the Washington Post.

Theories for its purpose range from the unveiling of the highly anticipated national defence strategy, to a demand for loyalty to President Donald Trump or even a purge of the military’s top ranks, according to former defence officials.

“I’m hearing it’s a flex by [Hegseth], showing he can call them all to heel,” said Kori Schake, a former director for defence strategy on the National Security Council, now at the American Enterprise Institute.

“Since it’s all commanders and their sergeants major, it’s likelier about the secretary’s obsession with a warrior ethos and grooming standards” than strategy, she added.

Ben Hodges, the former commanding general of US Army Europe, wrote on X on Friday that in “July 1935 German generals were called to a surprise assembly in Berlin and informed that their previous oath to the Weimar constitution was void and that they would be required to swear a personal oath to the Führer. Most generals took the new oath to keep their positions.”

A couple of hours later, Hegseth responded: “cool story, general”.

The meeting was “reckless” and “obviously extremely dramatic”, said Michael O’Hanlon, a defence strategy expert at the Brookings Institution think-tank who served on the Pentagon’s defence policy board.

“I think a big thing is that [Hegseth] is going to exhort his senior officers . . . tell them that he expects loyalty” and for “them to carry out the president’s programme, without dissension and that if they can’t do that, they should retire,” said Mark Cancian, a former Pentagon official now at the Center for Strategic and International Studies think-tank.

Such a meeting would “be very uncomfortable for the senior officers, because on the one hand, they swore an oath to the constitution [and] on the other hand, they are under the command” of the president, Cancian added.

The meeting comes after Hegseth in May ordered a 20 per cent reduction in four-star generals and a 10 per cent cut in all general and flag officers.

He has also fired many top military leaders since assuming office, including chairman of the joint chiefs of staff General CQ Brown, chief of naval operations Admiral Lisa Franchetti and coastguard commandant Adm Linda Fagan.

And as part of a wider national security purge, the Trump administration also fired National Security Agency director Gen Timothy Haugh and his deputy, along with Defense Intelligence Agency director Lt Gen Jeffrey Kruse.

The gathering was “jeopardising the potential for proper command and control when you have no idea if a crisis will erupt, and now our potential adversaries have five days to plan whatever shenanigans they may want to attempt”, said O’Hanlon, though he was not predicting that an attack would occur.

As for the meeting itself, “it seems like theatre more than anything else”, he added.

US vice-president JD Vance dismissed the hype over the meeting in the oval office on Thursday, saying, “It’s not particularly unusual that generals . . . are coming to speak with” Hegseth. Next to him, Trump wondered, “is it a big story?”

While combatant commanders come to Washington twice a year, this particular meeting was “very unusual”, said Cancian. The size, limited preparation time and lack of set agenda made it “unprecedented”.

The meeting could be about the national defence strategy, which is widely expected to be released soon and to shift the priority to the homeland and western hemisphere and away from China and Russia. Hegseth could also talk about organisational changes such as combining the European and Africa commands.

One former defence official said that pulling so many senior officers away from their duties highlighted a “growing frustration” among the military’s senior leaders that “red tape and inefficiency is getting worse”, despite the administration’s goal to slash bureaucracy.

WSJ : Trump Told Zelensky He Was Open to Providing New Long-Range Weapons, Offic

Trump Told Zelensky He Was Open to Providing New Long-Range Weapons, Officials Say
Trump didn’t commit to ending restrictions his administration has had in place for months

  • President Trump indicated openness to Ukraine using American long-range weapons to strike inside Russia but made no firm commitment.
  • Ukraine requested Tomahawk cruise missiles, with a range of 900 to 1,500 miles, and approval to use them against Russian territory.
  • Trump’s social-media posts praised Kyiv and condemned Russia, signaling a potential shift in his stance on the conflict.

President Trump told Ukrainian President Volodymyr Zelensky he was open to lifting restrictions on Kyiv’s use of American-made long-range weapons to strike inside Russia, but he didn’t commit to doing so during a meeting Tuesday, according to a senior U.S. official and a Ukrainian official.

During the sideline discussion at the United Nations, Zelensky asked Trump for more long-range missiles and approval to use such weapons to strike targets on sovereign Russian territory. Trump replied that he didn’t oppose the idea, though both officials said the president didn’t make any commitments to reverse a U.S. ban on such attacks.

If Trump’s comments signal a policy change, it could allow Ukraine to strike more targets deeper inside Russia.

For months, the administration has blocked Ukraine from using U.S.-provided long-range missiles, including the Army Tactical Missile Systems, known as Atacms, to bomb Russia, leading to complaints from Kyiv that it couldn’t effectively punch back against Moscow.

At their New York meeting, Zelensky asked Trump for Tomahawk cruise missiles, the officials said, which has a range of about 900 to 1,500 miles, a request the Ukrainian president revealed in an interview with Axios published Friday. The administration is considering Tomahawks and other long-range weapons for Ukraine, according to the senior U.S. official and a senior European official briefed on the plans.

Ukrainian officials are traveling next week to Washington for talks with Defense Secretary Pete Hegseth, according to the senior U.S. official and senior European official. Hegseth and the Pentagon undersecretary for policy, Elbridge Colby, oversee approval requests from Kyiv for using U.S. weapons against Russian territory. They have blocked Ukraine from firing Atacms since spring.

The White House and Pentagon didn’t return a request for comment.

A decision to provide highly accurate Tomahawk missiles would be a major escalation in U.S. assistance and could pose technical challenges for Kyiv. Another option would be to augment Ukraine’s small remaining stockpiles of Atacms or another system from the U.S. arsenal.

Trump signaled a possible shift on military support for Ukraine after his meeting with Zelensky. In a social-media post, he praised Kyiv and condemned Russia as a “paper tiger” fighting an “aimless” war in Ukraine—a significant about-face following his efforts in recent months to court Russian President Vladimir Putin for peace talks to end the war.

Trump vowed to continue to provide weapons to Europe’s North Atlantic Treaty Organization members, which send them to Ukraine for its forces to use against Russia. “We will continue to supply weapons to NATO for NATO to do what they want with them,” he said.

Ukraine has continued to use drones and other indigenously made weapons to strike inside Russia. It is also developing the Flamingo, a Ukrainian-made long-range weapon, which officials in Kyiv say will reduce its dependence on U.S. and European arms.

The administration last month approved the sale of 3,350 Extended Range Attack Munition air-launched missiles, or ERAMs. The weapons, which have a range between 150-280 miles, are part of a $850 million arms package funded by European nations.

Trump is still hoping Moscow will make a deal to halt the conflict, but he is frustrated at the lack of diplomatic progress and has become more open to pressuring Putin militarily. At the U.N., Trump also posted on social media that U.S. weapons provided to European nations could be used by Ukraine to reclaim all its territory from Russia. U.S. officials said that message was aimed at pushing Putin to the negotiating table.

Trump has become more skeptical that Russia is winning the war after it has failed to make major territorial gains since its all-out invasion in February 2022. Zelensky and European leaders have also lobbied him for more backing, officials have said.

After meeting Trump in New York, Zelensky in a press conference praised Trump’s “decisiveness to help end this war” and called the U.S. president a “game-changer.”

Senior European officials have welcomed Trump’s rhetorical shift and said it justified their previous warnings to Trump that Putin was never serious about peace and only playing for time in his dealings with the president as the war ground on.

“The president’s words carry weight, and it was widely received very positively by all the Europeans,” European Union foreign-policy chief Kaja Kallas said in an interview.

The Trump administration has imposed steep tariffs on India, a key Russia trading partner, but has yet to issue new sanctions on Russia following Trump’s efforts to get Putin to agree to a peace deal, including at a summit in Alaska in August where Trump hosted Putin. The EU is preparing new sanctions on Russia, the 19th package since Moscow launched its invasion of Ukraine in 2022.

“We see clearly that putting pressure on Russia together by helping Ukraine, could bring the end to this war,” said Kallas. “And as President Trump has said that he wants this killing to stop, then we should use the tools that are in our hands to make the killing stop.”

WSJ : Videogame Giant Electronic Arts Nears Roughly $50 Billion Deal to Go Priva

Videogame Giant Electronic Arts Nears Roughly $50 Billion Deal to Go Private
Investors including Silver Lake eyeing deal that would likely be the largest leveraged buyout ever

  • Electronic Arts is nearing a deal to go private, in what could be the largest leveraged buyout ever.
  • A group of investors including Silver Lake and Saudi Arabia’s Public Investment Fund could unveil the deal as soon as next week.
  • The California-based videogame publisher, known for titles like FIFA and Madden NFL, has a market value of around $43 billion.

Videogame maker Electronic Arts EA 14.57%increase; green up pointing triangle is nearing a deal to go private in what would likely be the largest leveraged buyout of all time, according to people familiar with the matter.

A group of investors including private-equity firm Silver Lake, Saudi Arabia’s Public Investment Fund and Jared Kushner’s investment firm Affinity Partners could unveil a deal for the publisher best known for its sports games as soon as next week, the people said.

EA has long made games including FIFA, the soccer videogame now known as FC, and the football game Madden NFL as well as The Sims and other titles.

The California-based company had a market value of around $43 billion before The Wall Street Journal reported on the talks, which sent the stock up around 14% Friday afternoon.

Assuming a deal comes together, it is likely to rank as the largest leveraged buyout ever, not adjusting for inflation. The largest to date was the 2007 purchase of Texas utility TXU by a group of private-equity firms for around $32 billion, which doesn’t include assumed debt, according to Dealogic.

Massive leveraged buyouts all but disappeared after a number of them performed poorly in the wake of the 2008-09 financial crisis. A group of private-equity firms made a big splash in 2021 when they agreed to buy medical-supply company Medline Industries for more than $30 billion.

EA has been making video games since the early 1980s. Founded by former Apple employee Trip Hawkins, the Silicon Valley company gained backing from major venture capital investors Kleiner Perkins and Sequoia. Its early model focused on highlighting game creators’ works as art, famously referring to its developers and programmers as “software artists.”

The company’s results continue to be propelled by sales of its marquee sports games, FC and Madden. Wall Street analysts have been closely awaiting the release of the latest iteration of EA’s popular shooting game, “Battlefield 6.”

Silver Lake, a technology-focused firm which manages about $110 billion, has made other investments in gaming. The firm owns a stake in Unity Software, which makes game-development software. EA has been a major Unity customer, and former Unity CEO John Riccitiello was previously CEO of EA.

PIF already holds a roughly 10% stake in EA. The Saudi investment fund has been increasing its profile, including through its creation of LIV Golf, a pro-golf league meant to compete with the well-established PGA Tour. (LIV and the Tour agreed to merge in 2023, but have yet to announce terms of a final agreement.) PIF and other investors have poured money into New York real estate, with a multihundred-million-dollar investment in a tower near Central Park.

Kushner, the son-in-law of President Trump, founded Affinity Partners in 2021, according to PitchBook. The firm, based in Florida, has raised money from investors including PIF.

The New Yorker : We’re Still Living in Man Ray’s Shadow

We’re Still Living in Man Ray’s Shadow
A show at the Met reveals not just the wonders of the artist’s rayographs—photographs taken without a camera—but the relentless creativity of the man himself.
A self-portrait in Man Ray’s studio at 31 bis rue Campagne-Première.© Man Ray 2015 Trust / Courtesy Metropolitan Museum of Art
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The best business decision Emmanuel Radnitzky ever made was to call himself “Man Ray.” Two words, two syllables; one from earth, the other of heaven. The nomenclature wouldn’t have made a difference, though, if he didn’t associate himself with the right people—namely, Alfred Stieglitz and Marcel Duchamp. Stieglitz was a photographer who brought the European avant-garde to America, opened Man Ray’s mind to photography, and helped facilitate his passage to Paris, changing his life and career forever. Duchamp was the spirit of the avant-garde wheeling through history on a squeaky unicycle. The first time he met Man Ray, they played a game of tennis in an orchard in New Jersey. There was no net. Man Ray called out the score—fifteen, thirty, forty, love—and Duchamp said the same word after every stroke: “yes.”
Let that mantra linger in your head as you approach “Man Ray: When Objects Dream,” a brilliant sparkplug of a show at the Metropolitan Museum of Art. It explains how one American artist learned to multiply himself into a Dada-Surrealist octopus, saying yes to so many things that no one could keep count. Man Ray was a painter, photographer, gizmo-maker, draftsman, filmmaker, chess-set designer, writer, poet, editor, publisher, adman, cartographer, prankster. He also had a habit of inventing niche art forms, or at least pretending to. One was called the aerograph. The other he conveniently named after himself: the rayograph.


A rayograph is basically a nineteenth-century photogram. You take an object—say, a twig—place it on photosensitive paper, expose the paper to light, and then develop it in a chemical bath, revealing a twig-shaped silhouette. What Man Ray figured out by accident, one night in 1921, in his little room at the Hôtel des Écoles, in Paris, was that you could shoot light at translucent objects, producing not only a contact silhouette but gauzy, buttery, demented types of shadows. As Man Ray liked to point out, the shadows were just as interesting as the objects they consorted with.


If you know Man Ray primarily as a maker of visual jokes—such as “Cadeau,” a clothes iron with tacks glued to the useful part (rendering it useless), or “Le violon d’Ingres,” a photo of a woman’s back with sound holes overlaid (turning her into a cello)—the Met show won’t disabuse you of this notion so much as rewire it. The tack-iron and back-cello are here, but the focus of the exhibition is the rayograph. The rayographs, after all, are what earned Man Ray his avant-gardist credentials. They are also the point at which Man Ray’s life and history, photography and painting, figuration and abstraction, collide.
Born in Philadelphia in 1890, and raised in Brooklyn, Man Ray was the son of a seamstress and a tailor. From an early age, he liked shapes and naked women. The shapes were usually geometric, and the women were geometries to be looked at, drawn, and pursued. One of the defining moments of his life was the 1913 Armory Show, where the shock of Picasso, Matisse, and Duchamp not only cracked open American culture but left Man Ray unable to produce work for six months. A second educational moment occurred one day in a life-drawing class at the Ferrer Center, in New York, when an attractive blond woman with green eyes posed, nude. “I felt I’d be content to watch her and not do any work,” he wrote in his memoir. “I went home that night with my head in a whirl, immense possibilities opened before me both in art and love.”
After moving to Paris in 1921, Man Ray became the court portraitist of the high moderns—Virginia Woolf, James Joyce, Djuna Barnes, Gertrude Stein, Picasso—photographing anyone of artistic merit who came within spitting distance of Montparnasse. Parallel to that work was his fashion photography, which brought in good money, and his more artsy boudoir-style experiments. Favorite subjects included his lover and muse, Kiki de Montparnasse (Alice Prin), the artist Meret Oppenheim, and Lee Miller, who apprenticed for Man Ray before becoming a major photographer in her own right. André Breton speculated that Man Ray saw his female sitters the same way he saw objects in his rayographs: “How astonished they would be if I told them that they are participating for exactly the same reasons as a quartz gun, a bunch of keys, hoarfrost, or fern!”
A rayograph, 1922.Photograph by Man Ray / © ManRay 2015 Trust / Courtesy The J. Paul Getty Museum

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The Met’s stress on quartz gun and fern—that is, on the rayographs—is a welcome departure from Man Ray’s familiar cast of naked and famous people. His first batch, “Champs délicieux” (Delicious Fields), appeared in one of the most interesting years of the twentieth century: 1922, the annus mirabilis of literary modernism, which saw the publication of “The Waste Land,” “Ulysses,” and “Jacob’s Room.” Art-historically speaking, you can stand on 1922 like a mountain ridge. Behind you is the Valley of Dada (roughly 1916-22) and before you is the Jungle of Surrealism (1924-onward). Where you’re standing, wrapped in fog, is the so-called mouvement flou: the blurry zone between the two. Man Ray is one of the few Dada-Surrealist cusp figures who finessed affiliations with both movements without alienating either one. With Talleyrand-levels of aplomb, he navigated the affections of Tristan Tzara, the monocle-wearing high priest of Dada (who visited Man Ray’s room at the Hôtel des Écoles the day after the rayographs were invented), and Breton, whose ancient sculpture of a head dreamed up the Surrealist manifesto. Tzara supposedly hailed the rayographs as “pure Dada creations.” Breton praised Man Ray for forcing photography to abandon its “pretentious claims” to veracity, to fact. In a single stroke, Man Ray had pushed photography to its limit and put painting on its heels.
In “Les Champs Délicieux,” there are a dozen rayographs. We find silhouettes of recognizable items—hair comb, smoking pipe, metal coil—or just glowing lunar shapes: a gyre of white, a pattern of holes, the slightest intimation of an egg, but not an egg. Most of the rayographs don’t have titles, which seems fitting. They all feel like they belong to the same dream, one in which you keep leaving objects behind and forgetting what they’re for. Part of the pleasure is how the rayographs wobble between metaphor and utensil, abstraction and figuration. They’re somewhere between a Rorschach blot and an X-ray.
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One of the best tricks for looking at the rayographs is to think of Ezra Pound’s comment about Man Ray “painting with light.” Imagine that, just for a minute: that the rayograph isn’t a flytrap for random silhouettes on a tabletop but a canvas filled with precise strokes of white and black pigment. (Once you see it, it’s hard to unsee.) Before Man Ray hitched his career to photography—a choice he always half regretted—he was a devoted painter. The exhibition briefly lurches back to 1915, to the paintings and prints that he made in his twenties, and though a lot of what you’ll find is downstream Cubism, the thrill is seeing how Man Ray figured out what he wanted from the rayographs before he found them. His defining painting from the period, “The Rope Dancer Accompanies Herself with Her Shadows” (1916), shows a tightrope walker umbilically linked to large swatches of shadow that cover more than three-quarters of the canvas. As in the rayographs, shadows are the main character.
The surprise delight from this early period are the so-called aerographs. With an airbrush borrowed from his job at an ad agency, Man Ray would blast droplets of gouache onto board or heavy paper and use stencils to organize the spray. “Admiration of the Orchestrelle for the Cinematograph” (1919) is a wonderfully finicky diagram for nothing, with clean geometries offset by the occasional umbrella. Man Ray fantasized about making a picture as “a purely cerebral act,” escaping the gooeyness of the medium; the aerograph presented a nifty solution. For him, painting was more than just using a “stick with some hairs attached to it,” he liked to say. It was the art of creating an idea.
The nineteen-twenties were a boom time for Man Ray. Glossy magazines like Vanity Fair and Vogue wanted his portraits and rayographs, and he started making short films, like “Retour à la Raison” (Return to Reason) and “L’étoile de mer” (The Starfish). His objets d’art proliferated: deconstructed lampshade, tack-iron, metronome with eye, baby’s arm coming out of a bucket. In 1929, he struck gold with another darkroom accident—“solarization.” One night, Man Ray and Lee Miller exposed a series of negatives to light while they were still developing. The glitch smoothed out the eccentricities of texture in the image and cast a dusky halo around every shape. Man Ray’s signature trick—setting up his camera far from the sitter, capturing them with a telephoto lens, and then enlarging and cropping in postproduction—gives his standard portraits a remote intimacy, like you are looking at someone across the room while also standing next to them. Solarization deepens that effect and adds a third dimension, as if you are also seeing them outside of time. The results are magic.
The exhibition winds down in the thirties, after Man Ray soured on photography. He tried to beat a path back to painting, with results that excited pretty much no one. The paychecks from fashion magazines had been nice, as were the social benefits, but he wasn’t getting the recognition that he craved as an artist. If any American feels a slight throb of pride to know this country produced at least one bona-fide Dada-Surrealist, we should remember that Man Ray disliked the U.S., and felt no one here understood him, or attempted to. The only time he moved out of France was during the Second World War, when, by some cruel twist of fate, he ended up in Hollywood.
Who was Man Ray? It’s a mystery that even his four-hundred-page memoir doesn’t satisfyingly answer. Here was a multi-hyphenate artist and commercial photographer, with an invented name, who could be asocial at times and take off his clothes at a dinner party at others. He liked fast cars and white wine, freedom and pleasure. One historian described him as “humorous and defensive,” not unlike a caged monkey. Another said he was “half longshoreman, half professor.” Kiki de Montparnasse liked the way he spoke out of the side of his mouth. That detail stands out, if only because he approached everything indirectly. Even in his self-portraits, he’s sometimes nowhere to be found. In one, from 1916, he created a penguin-looking assemblage with sound holes for hips and a doorbell for a belly button. In another, from 1920, it’s just a blurry head wearing a straw boater. His preference was to be behind the camera, not in front of it. He liked the remove of a lens, a pun, an airbrush, the shadow cast by a ray of light

WSJ : FAA to Ease Restrictions on Boeing Aircraft Deliveries

FAA to Ease Restrictions on Boeing Aircraft Deliveries
Boeing expected to regain some authority from regulators to perform final safety checks on jets

Federal regulators are scaling back obstacles for Boeing to deliver some of its newly produced aircraft to customers, a hopeful sign for the plane maker’s recovery from a string of crises.

Boeing is slated to regain authority from the Federal Aviation Administration to perform final safety checks on its 737 MAX jets, people familiar with the matter said. The approval could be announced as soon as Friday, one person said.

Employees of the aerospace giant would regain the authority to perform safety signoffs in phases, the people said. FAA inspectors will remain involved in issuing so-called airworthiness certificates, which are required for each aircraft to be able to fly with passengers.

The FAA often delegates routine inspections to aerospace manufacturers to focus scarce personnel on more critical tasks. But regulators tightened oversight of Boeing in 2019 after two deadly 737 MAX crashes.

The FAA began requiring each new jet rolling out of the 737 MAX factory in Renton, Wash., to be checked only by agency inspectors. The federal agency had become concerned about pressure on Boeing employees to produce and deliver aircraft. It said it needed to more closely monitor the manufacturing process to ensure the safety of the flying public.

Later, after a series of quality mishaps, the FAA revoked the same authority for the 787 Dreamliner, which is made in South Carolina. Boeing is also expected to regain the ability on the Dreamliner, some of the people said.

The restriction has meant Boeing can’t be as flexible with delivering planes to customers, having to work on government employees’ workday schedules to get safety approvals. Returning some of the authority to Boeing could free up FAA inspectors to more closely monitor the production of planes, rather than paperwork at the end of the process.

Boeing’s easing regulatory burden is a sign that government officials are increasingly satisfied with the company’s effort to improve its manufacturing process.

The FAA is also expected to allow Boeing to boost its 737 MAX production rate to 42 planes a month, up from a cap of 38, people familiar with the matter said. Regulators, blaming Boeing’s emphasis on production over quality, imposed the production limit after a fuselage panel blew off an Alaska Airlines jet midair in early 2024.

It couldn’t be learned when the FAA would make a final decision. Lifting the cap would allow Boeing to more quickly produce and deliver aircraft.

If it is allowed to raise monthly 737 MAX production to 42 jets, the company has said, it would hold production at that level for several months to watch for any issues. After that time, the company would pick up the monthly pace by another five jets.

“Obviously, there’s strong demand for our portfolio, and the more we can accelerate the production rate, the better,” Chief Executive Kelly Ortberg said during an investor conference earlier this month. “However…we are not going to push. If we’re not ready, we’ll wait a month.”

Boeing’s ability to conduct safety checks on its planes has been politically sensitive.

Frontline FAA employees and managers, as well as some senior agency officials, had wanted to return the authority to Boeing before the Alaska Airlines door-plug blowout in 2024.

Before the incident, the quality of Boeing’s airplanes had been improving, according to agency officials at that time. Still, returning the authority came with complicated optics for the FAA, whose oversight has been criticized as weak after the plane maker’s various crises.

The Alaska Airlines accident ensured Boeing would remain under tighter regulatory scrutiny for longer. Employees at Boeing’s Renton factory failed to bolt a fuselage panel in place before it left the site. The FAA imposed a production limit, established key performance metrics, added inspectors to Boeing’s factory and re-established a permanent presence there.

The FAA in early September proposed Boeing pay $3.1 million in fines for alleged safety violations partly in connection with the Alaska blowout. Among the problems flagged by the FAA: Boeing presented two aircraft with problems to the FAA for final approval and failed to follow its quality system.

WWD : Amazon, Formula 1, Target and Pinterest Are Among the Top 50 Brands of 202

Amazon, Formula 1, Target and Pinterest Are Among the Top 50 Brands of 2025
A new report by DCDX looked at the top 50 brands for 2025, measured by organic popularity and consistency with user-generated content on TikTok, Instagram and YouTube.

As the year has continued to be a guessing game of who will reign supreme amid an uncertain market, Generation Z research and strategy firm DCDX’s latest report looks at the top 50 “magnetic brands” of 2025. The company defines such brands as those that have the “power to attract conversation, measured through organic user-generated content (UGC).” It looks at “brand magnetism” measurements by how much the brand is talked about and how often it is talked about online.

The top 50 brands have been given a “magnetic” score, out of 100, by examining their organic popularity (average weekly engagement of UGC over time) and consistency (variation in average weekly engagement of UGC over time) on three social media platforms: TikTok, Instagram and YouTube.

DCDX said that UGC has become an important metric for brands that are shaping consumer spending decisions — 70 percent of Gen Z said it’s a helpful part of their buying journey and six in 10 consumers said that UGC “feels like the most genuine form of advertising.”

Most notably, the firm said that short-term video is the top media format with the highest ROI, outperforming all other formats on every channel — DCDX said that they have become an integral part of how consumers are connecting with brands. And through TikTok, YouTube and Instagram, the social platforms are creating new ways for brand discovery, creating social trends and dictating what resonates for brands.

For DCDX’s top 50 most magnetic brands of 2025, the top nine brands generated more than 50 percent of all UGC engagement — and represent more than 113 billion engagements over the past year. The top 25 brands on the list drove 75 percent of overall engagement for the list. The “Magnetic 50” ranking report is also broken down separately by the three social media platforms.

The notable brands on the list include Disney, Roblox, Apple, Twitch, NBA, Netflix, Amazon, NFL, Formula 1, Target, Pinterest, Google, Samsung, Ferrari, OpenAI, Lamborghini, Red Bull, Sephora, Nike, Audi, Zara, Snapchat, HBO, Walmart, Shein, WNBA, Tumblr, Adidas, Dior, Rhode and Huda Beauty.

Among the brands (some of which didn’t make the company’s top 50 list) that saw the biggest momentum with the rate of change in weekly engagements are Huda Beauty, WNBA, Rhode, Netflix, Ulta, Maybelline, Twitch, Shein, Formula 1 and the NBA.

Meanwhile, the brands that saw the biggest fall in momentum with the rate of change in weekly engagements include Tesla, NFL, Lamborghini, Nike, Audi, Apple, Ferrari, Amazon, Target, Temu, Walmart, Adidas, Sephora, Google, Coca Cola, Spotify, DoorDash, Disney and Red Bull.

“The most ‘Magnetic Brands’ are the ones that provide the groundwork for fandom to form. Entertainment, media and sports brands continue to dominate our rankings because their consumers are fundamentally different. Fans are natural brand advocates — they are more than just customers. These consumers are invested in ongoing outcomes and narratives. Fashion and beauty brands are not exempt from this equation, but emotional loyalty is more challenging when your relationship with consumers centers on discrete purchases rather than sustained engagement with narratives. Brands in fashion or beauty can break through — like Rhode — by creating ongoing storylines through founder personalities, community building or product launches that become cultural moments people want to participate in,” said Mara Stolzenbach, director of strategy at DCDX.

Here are DCDX’s top 50 brands by engagement and consistency of organic UGC on TikTok, Instagram and YouTube and their “Magnetic” score, out of 100.

  1. Disney — 99.48
  2. Roblox — 99.35
  3. Apple — 98.77
  4. Twitch — 98.75
  5. NBA — 98.29
  6. Netflix — 98.12
  7. Amazon — 97.14
  8. NFL — 96.32
  9. Formula 1 — 95.77
  10. Spotify — 95.66
  11. PlayStation — 93.96
  12. Target — 93.52
  13. Pinterest — 93.27
  14. Google — 93.15
  15. MLB — 93.03
  16. Discord — 92.90
  17. Reddit — 92.67
  18. Samsung — 92.60
  19. Ferrari — 92.45
  20. Toyota — 92.03
  21. Xbox — 91.95
  22. OpenAI — 91.85
  23. Lamborghini — 91.70
  24. Red Bull — 91.44
  25. Nintendo — 91.27
  26. McDonalds — 91.04
  27. Sephora — 90.91
  28. Nike — 90.19
  29. Audi — 90.13
  30. Zara — 89.80
  31. Starbucks — 89.49
  32. Snapchat — 89.47
  33. Tesla — 89.26
  34. Uber — 88.89
  35. HBO Max — 88.66
  36. Oreo — 88.64
  37. Walmart — 88.58
  38. Shein — 88.46
  39. Chipotle — 87.75
  40. WNBA — 87.61
  41. Temu — 87.49
  42. KFC — 87.45
  43. Hulu — 87.38
  44. Tumblr — 87.31
  45. Adidas — 87.07
  46. Dior — 86.93
  47. Rhode — 86.87
  48. Huda Beauty — 86.82
  49. Taco Bell — 86.59
  50. Airbnb — 86.57