• Wages in the US are beating those in other rich democracies.
• Adjusting for inflation, Canada and the US are the only G7 countries where paychecks have increased since 2019.
• Inflation has slowed a lot since its high in 2022, with price increases driven mostly by housing and gas.

The United States is leading the world's richest democracies in real wage growth.

Data from the OECD shows that between 2019 to 2023, the United States and Canada saw their average wages increase by 5.2% and 3.6%, respectively, when adjusted for inflation.

Meanwhile, workers' pay in other G7 countries, a group of industrialized democratic economies, has not kept up with inflation, meaning their paychecks have effectively shrunk since 2019.

Italian average wages fell 5.7% between 2019 and 2023. Inflation in Japan this year has hit a 19-month high, marking a continuing trend of a weakened yen and dropping real wages in the country.

The OECD's measure accounts for the differences in cost of living and inflation to accurately compare someone's purchasing power between counties.

While Americans are still feeling the pain of inflation — largely due to housing, energy, and gasoline — overall price growth has slowed significantly from 2022 highs. As of January, inflation was 3% year-over-year, compared to a rise in the consumer price index of 1.8% in France and 2.4% in Canada.

Eggs have been a particular pain point in the US recently. The price for a dozen Grade A large eggs has doubled over the past year, the Bureau of Labor Statistics reported.

While inflation is slowing, the Federal Reserve has opted to hold on further interest rate cuts so far this year despite pressures from President Donald Trump to continue cutting.

Fed Chair Jerome Powell gave a policy report to the House Financial Services Committee in February expressing that "the economy is strong overall." He stated that his priorities in policy restraint were to keep prices stable and maximize employment.

While new jobs increased less than the forecast in January, unemployment crept down to 4%, low by historic standards. And overall, the real GDP in 2024 grew 2.3% year-over-year as consumer spending made up for losses in investment, the latest data said.

Economic data aside, Americans are split along party lines on the future of the economy in 2025. Per Pew Research's polls published this month, 64% of Democrats say the economy will get worse, and 73% of Republicans anticipate it will get better. A majority of people are optimistic about the costs of gasoline improving while also pessimistic about a hike in the cost of housing, food, and healthcare.

Trump ran on campaign promises of bringing grocery and gas prices down and installed pro-oil and gas cabinet members to execute his "drill baby drill" plan. It's unclear, however, whether companies will be able or willing to expand oil production beyond current record highs.

When it comes to food, Trump has since walked back his vow, saying lowering grocery prices is "very hard." Economists and companies have also indicated that Trump's proposed tariffs could increase prices for a variety of products.

In the meantime, Powell has stated that the central bank operates independently of politics and he continues to watch the markets closely before intervening.

"If the labor market were to weaken unexpectedly or inflation were to fall more quickly than anticipated, we can ease policy accordingly." Powell said to the House committee last week.

The Trump administration’s potential plan to exclude European allies from negotiations to end the war in Ukraine has caused panic among the continent's leaders but may be the only way to finally resolve the conflict, an expert tells Fox News Digital.

"Trump’s likely rationale for excluding European allies out of direct Russia-Ukraine negotiations is this. First, there’s no agreement among NATO members on the NATO membership for Ukraine. Some are for it and some are against. So it would be a waste of time to add this obstacle to the talks. Second, the Europeans don’t add anything to the talks," Rebekah Koffler, a strategic military intelligence analyst, former senior official at the Defense Intelligence Agency and author of "Putin’s Playbook," told Fox News Digital. 

"They [Europeans] are not decision-makers here. The only ‘deciders’ – using George Bush’s famous phrase – here are Putin and Trump. And even more accurately it’s Putin," Koffler added. "He holds all the cards, given the realities on the battlefield and outside of it."

The comments come as French President Emmanuel Macron hosts an "emergency meeting" of European leaders Monday to discuss President Donald Trump’s potential plan to largely exclude them from negotiating an end to Russia’s war in Ukraine, a move that has caused anxiety on a continent that believes it has a vital stake in determining the terms of any settlement.

Despite the uncertainty for European leaders, Trump has insisted that Ukraine will be involved in any talks to end the conflict.

TRUMP ADDRESSES UKRAINE-RUSSIA PEACE TALKS, SAYS ZELENSKYY WILL BE INVOLVED

"He will be involved, yes," Trump said Sunday of Ukrainian President Volodymyr Zelenskyy. 

Meanwhile, Politico reported Monday that Macron and Trump had a "frank" 20-minute discussion just before the meetings in Paris were held, though the details of that discussion are still unclear.

The emergency meeting is being held after a security conference over the weekend in Munich, Germany, where Trump’s special envoy for Ukraine and Russia, Keith Kellogg, hinted European leaders may not be allowed to take part in a deal the U.S. helps broker between Ukraine and Russia.

Asked about Europe’s potential role in resolving the conflict during the conference, Kellogg indicated such involvement "is not going to happen," arguing he was "from the school of realism" and that adding the Europeans to the mix may only serve to add too many voices to the discussion.

"What we don't want to do is get into a large group discussion," Kellogg said, adding that Trump is hoping to have a resolution to the conflict within "days and weeks."

"You got to give us a bit of breathing space and time, but when I say that, I’m not talking six months," he said.

Koffler believes that Trump shares a similar realism, a dose of reality she believes has been lacking from media coverage of the war.

NATIONAL SECURITY ADVISOR SAYS PUTIN, ZELENSKYY AGREE ‘ONLY PRESIDENT TRUMP COULD GET THEM TO THE TABLE’

"President Trump is a realist and he understands that Ukraine has lost the war. In fact, Ukraine lost the war before it started," Koffler said. "Russia holds massive, massive combat potential advantage over Ukraine. Always has, always will. I’ve been saying it for three years. It’s a shame that the Biden administration, assisted by the mainstream media, has created a alternate reality, lying to the American people that Ukraine was winning or could win, just like they lied about so many other things."

"But any serious and honest military intelligence analyst who is not on the payroll of the U.S.-NATO military-industrial complex or of the Zelenskyy’s regime, and who isn’t afraid to go against the media’s party line, known as the editorial line, has known from the very start how this war will end," she added.

But Joel Rubin, a former deputy assistant secretary of state for the Obama administration, cautioned against excluding European allies from the discussions, arguing that a deal without their involvement is "unlikely to foster a sustainable end to this conflict."

"President Trump is right to seek an end to the Russia-Ukraine war, and he should be applauded for his efforts. Yet by staking out a role for the United States to be the indispensable negotiator in the war, he risks creating major commitments, as this is not America’s war and we are now being inserted directly into it," Rubin told Fox News Digital. "In analogous diplomatic situations, such as the Camp David Accords between Israel and Egypt, we clinched a deal only after providing major commitments to both parties in the form of economic assistance and military aid, totaling well past $100 billion so far."

While Rubin acknowledged that inclusion of European leaders would be more "complex initially," the payoff would be to "spread the costs" of any guarantees that arise from negotiations.

EMMANUEL MACRON CALLS 'EMERGENCY MEETING' FOR EUROPEAN LEADERS TO DISCUSS TRUMP: REPORT

"And of course, because Europe is directly impacted by Russia’s belligerence, any deal that's finalized will need their support (in addition to Ukraine’s), otherwise it’s unlikely to foster a sustainable end to this conflict, instead turning these negotiations into just one more stalled diplomatic effort of the many that have taken place in this war since it truly began in 2014," Rubin said.

Macron’s emergency meeting in Paris is expected to be attended by a host of European leaders, according to Politico, including Germany's Olaf Scholz, Italy's Giorgia Meloni, Spain's Pedro Sánchez, the United Kingdom's Keir Starmer, Denmark's Mette Frederiksen, Poland's Donald Tusk and Dutch Prime Minister Dick Schoof.

But Koffler believes Trump is the only leader in a position to handle what are sure to be difficult negotiations, where none of the world’s leaders will have any leverage over Russian President Vladimir Putin.

"Trump is the only U.S. leader who has the courage to acknowledge the obvious – he is not afraid of being blamed for losing the war and handing Putin victory. Which the Democrats and the neocons will almost certainly do," Koffler said.

"It is why Trump is offering to Putin pretty much everything Putin wanted – no NATO for Ukraine, Russia keeps the eastern portion of Ukraine and Crimea, no U.S. boots on the ground in Ukraine, and even potentially membership in G-8 – all to save whatever is left of Ukraine and Ukrainians, to entice Putin to the negotiating table," she added. "Putin doesn’t have to stop the war. In fact, I don’t rule out the possibility that he will not accept anything Trump has to offer."

"The negotiations will be super complicated to begin with. Putin will almost certainly be playing hard ball. And we’ve got very little leverage over Russia. Inviting Europeans would serve no purpose and would only make an already tenuous peace deal impossible to achieve."

Late Sunday local time, French president Emmanuel Macron announced a total of €109 billion in private investments in the AI ecosystem — or around $112 billion at current exchange rates. Paris is hosting the Artificial Intelligence Action Summit this week — the third international summit focused on AI after earlier events in Bletchley Park in […]

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• I was born and bred in France and moved to LA at 17.
• The ambition I saw in Americans attracted me to the US and helped me achieve my goals in life.
• The French attitude of my classmates was the opposite of ambitious when I graduated high school.

When I was 15, my dad and I took a trip to Los Angeles that changed my life. We didn't have a set agenda, and since we were staying down the road from the University of California, we took a campus tour.

Up to that point, attending university in France, where I grew up, was the only option I'd ever considered, and it had always felt like just another mundane box to check. The general attitude among my classmates and the adults around us was that there were no jobs anyway, so what was the point of trying? The culture was stifling.

That first day visiting UCLA's campus opened my eyes to a new world of possibility. The tour guide and the prospective applicants in the group made me feel like anything was possible and my dreams of becoming an editor at a women's magazine and writing a bestselling novel were within reach.

That American ambition is what drew me and ultimately led me to swap France for the US at 17.

I wouldn't have become who I am if I hadn't lived in the US

I didn't go to a proper international high school that offered IB exams or SAT guidance, and my French schooling hours made it difficult to carve out time for extracurriculars or volunteering.

For the next two years, I prepared to polish my application to UCLA as much as possible. I pored over SAT prep books during school vacation. I remember my dad asking how I became so ambitious.

I applied to UCLA in 2011 and was accepted in the Spring of 2012.

Throughout my four years at UCLA and my five total in the US, the ambition, drive, and hopefulness I saw in my peers continuously inspired me to dream big and achieve more. As an undergrad, I founded a club, interned at my dream publication, and was an editor for an online magazine.

Reflecting on it now, I believe I owe many of the successes I have achieved to this day — such as writing for some of my dream publications and winning a short story competition — to the example set by my UCLA classmates, floormates, and sorority sisters.

I had to reassess my life and who I was outside my career

In 2017, a year after graduating, I moved to the UK because I could not get a work visa to remain in the US. Since I left the US, I've noticed a shift.

American ambition is alive and well, and I still admire it enormously, but it has also led to an epidemic of burnout. I've felt this myself, after internalizing the "girlboss" mentality.

I built up a career I was proud of, thinking it would always continue on an upward trend. However, due to shifts in the publishing industry, I lost a lot of my freelance work and experienced a personal crisis of purpose.

I've had to work hard to figure out who I am outside of my career.

Meanwhile, I see my French classmates on LinkedIn crushing it: getting promoted, building companies, and landing cool, creative jobs. They found their ambition after all and did it their own way, in their own time.

All that is to say, it's not as black and white as I thought it was at 17. Ambition isn't all good, and going with the flow isn't all bad — there's a happy medium to be found, and I'm so grateful that my time in France and the US can help guide me toward that greater balance.

France’s public investment bank announced that it plans to invest as much as €10 billion (around $10.3 billion at current exchange rates) in the artificial intelligence ecosystem in France. This announcement comes a few days before heads of state and global tech leaders gather for the Artificial Intelligence Action Summit in Paris. Bpifrance has been […]

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A few days ahead of the Artificial Intelligence Action Summit in Paris, the French presidency has announced the first of several expected financial initiatives related to AI. France’s Emmanuel Macron and the United Arab Emirates’ Mohamed bin Zayed Al Nahyan have signed an agreement for a significant investment to build a massive data center dedicated […]

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U.S. Vice President JD Vance will attend a two-day high-level summit focusing on artificial intelligence in Paris next week, his first scheduled trip abroad since taking office, a French diplomatic official said Tuesday.

The AI Action Summit on Feb. 10-11 will gather heads of state and top government officials, CEOs and other actors involved in the tech sector, which has been shaken up by galloping advances.

Vance has not made any official foreign trips since his inauguration last month. The White House had no immediate comment.

VP VANCE CALLS ON US 'TO DO A BETTER JOB' WITH AVIATION SAFETY AFTER 'INCREDIBLY HEARTBREAKING' DC PLANE CRASH

The French diplomatic official spoke on condition of anonymity as the list of top attendees has not been made official yet.

China’s Vice Premier Ding Xuexiang is among those expected to attend the summit, which will be co-presided over by French President Emmanuel Macron and Indian Prime Minister Narendra Modi.

The summit will take place at the Grand Palais, last year's Olympic venue for the fencing and taekwondo competitions. A dinner with top officials and CEOs is also scheduled at the Elysee presidential palace.

Vance's trip comes after U.S. President Donald Trump last month talked up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership of OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House.

Meanwhile, Chinese AI model DeepSeek’s emergence has shaken up the tech sector, offering companies access to the technology at a fraction of the previous cost and providing the potential to push other AI companies to improve their models and bring down prices.

Vance in the past has acknowledged some harmful AI applications, but said at a July Senate hearing that he worries that concern is justifying "some preemptive overregulation attempts that would frankly entrench the tech incumbents that we already have."

• Bernard Arnault has said LVMH has no plans to relocate the company.
• It follows backlash over his criticism of proposed French tax hikes.
• Arnault had also praised the "optimism" in the US following President Donald Trump's return to office.

Bernard Arnault, the billionaire CEO of the luxury conglomerate LVMH, has said there are no plans to relocate the company after his criticism of proposed French tax hikes faced backlash.

"I never said that we were going to relocate the LVMH group. This statement is false," Arnault said in a statement posted on the company's X account on Friday.

"What I said is that the tax measures envisaged are an incentive for relocation, since they tax Made in France products, but not relocated French companies," he added.

Arnault had expressed frustration over proposed tax hikes on French companies in an earnings call earlier this week.

He warned that such measures could push businesses to move elsewhere.

"When you return to France and you see that they are planning to increase taxes on companies that produce in France to 40%, it's incredible! If you actually wanted them to relocate, that would be the ideal way to do it," he said.

He also contrasted the atmosphere with what he called the "wind of optimism" in the US following the return of President Donald Trump to the White House. Arnault joined a host of other billionaires and executives to attend Trump's inauguration earlier this month.

"Coming back to France is a bit like taking a cold shower," Arnault said.

His comments have been met with some criticism, including from Sophie Binet, the leader of the French trade union the General Confederation of Labour (CGT). Binet said in an interview on RTL that Arnault's remarks were a sign that "rats are jumping ship."

It wasn't the only part of the Tuesday earnings call that made headlines this week.

During the call, Arnault also said he had recently spoken with Meta boss Mark Zuckerberg about the decision to let low-performing Meta staff go.

While drawing parallels between job cuts at Tiffany & Co. and the layoffs at the Silicon Valley firm, Arnault said that the Meta employees were being "promoted outwards, so to speak."

LVMH generated 84.7 billion euros (around $88.2 billion) in revenue in 2024. France accounted for 8% of that figure, while the US accounted for 25%.

• I paid about $300 and used points to book an Air France business-class flight from Tbilisi to NYC.
• I had access to a lounge during my layover, a lie-flat seat, and a goodie bag filled with amenities.
• However, the aircraft was a bit outdated, and I wasn't a fan of my chicken entrée.

Two years ago, I had an incredible time in KLM's business class and was eager to treat myself to another upgraded experience. However, flying business class can be pricey, so I always considered it a once-in-a-lifetime opportunity.

So, when I found out I could fly from Tbilisi, Georgia, to New York in Air France's business-class cabin for about $300 after using points and a monthly promotion from the airline, I knew I had to take advantage of the deal.

Because KLM and Air France are owned by the same parent company, I had high expectations for my flight.

I took the flight in two legs, and was was most excited about my trip from Paris to New York. Here's what my experience during this part of the journey was like.

I had access to the Air France lounge in Paris

During my layover in Paris, I visited the Air France lounge at the Charles de Gaulle Airport, which I was able to access as a business-class passenger.

Although it was a decent-sized lounge, finding a secluded place to sit was a little difficult. However, I was traveling during the busy summer season, so the crowds made sense.

Once I found a cushioned seat, I enjoyed the natural lighting while filling up on pastries from the buffet.

I enjoyed complimentary beverages and clean bathroom facilities, and the time passed fairly quickly, given the comfort of not having to wait at the gate.

I was grateful for my lie-flat seat, but the aircraft felt a bit outdated

For this flight, I was able to board early as a business-class passenger, which was a nice perk.

Once seated, I admired the lie-flat seat and looked through my goodie bag, which included an eye mask, socks, a toothbrush, moisturizers, and headphones.

However, I did notice the aircraft was a little older — the seats were a bit worn, and the TV and headphones seemed outdated.

That said, at the time of my flight, Air France was still in the process of reconfiguring its older aircrafts with updated, more comfortable seats, new TV screens, and Bluetooth technology. So, I must have been on a plane that hadn't been updated yet.

When it was time to eat, I really enjoyed my first course, but was underwhelmed by the entrée

For my first course, I received a summer salad, a shrimp dish seasoned with orange-and-honey vinaigrette, and a butternut-squash-and-carrot salad.

The food was delicious, and I felt so fancy using real silverware and a tablecloth in the air. This part of the meal wasn't just good for plane food — I genuinely enjoyed each dish.

Unfortunately, I was a little disappointed by my chicken entrée, which came with zucchini and couscous. I thought the taste was similar to the dishes I get when flying economy, both in terms of flavor and presentation.

However, the real stars of the show came later in the flight — a plate of French cheeses as a snack, and a delicious coconut-lime-mango pastry.

I watched TV and got a good nap in before landing

After eating too much, it was time for the best part of the flight: pulling out the TV screen and reclining to a lie-flat position.

I was able to fall asleep within minutes, waking up three hours later — much longer than I have ever consecutively been able to sleep on a plane.

I was woken up for the landing meal, which was a brioche with garlic, herbs, cheese, and vegetables. Additionally, we were given one final French pastry, a financier with fresh fruit.

Overall, I had a great experience on my Air France flight

If I could afford to, I would always fly business class — it makes traveling more comfortable and exciting, and is something I'll never take for granted.

In the future, though, I'd opt to take a KLM flight or make sure I was flying on an Air France plane with upgraded business-class seats.

Quantum computing remains something of a holy grail in the world of technology: It promises a huge leap in computing power, but only if someone can figure out how to square away the fault rates that prevent any scaling of the tech. Now, one of the more promising quantum startups in Europe is announcing a […]

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• I planned a girls' trip from the US to Montréal so we could enjoy European vibes at a lower cost.
• Flights from Orlando to Montréal are short, and the US dollar goes pretty far in Canada right now.
• We loved the city's scenery and vibrant art scene, which made it feel like a worthy dupe for Paris.

Cobblestone streets, adorable bistros, scenic river cruises, impressive basilicas, and artsy enclaves — this isn't France, it's Montréal in Canada.

Recently, I planned a girls' weekend trip to the charming French-Canadian city, which some visitors have nicknamed the "Paris of North America."

We really felt like we were in Europe, and best of all, our getaway was budget-friendly, thanks to inexpensive, quick flights and the favorable US-to-Canada currency-exchange rate.

Here's why Montréal is my new go-to spot for an international vacation, especially when I'm craving a more affordable alternative to Paris.

Montréal was fairly easy to get to from Florida on a budget.

One of the best parts of this trip was that our flight costs could be quite low, and we didn't have to spend much time traveling.

This time, I booked a Breeze Airways flight from my home in Orlando to Plattsburgh, New York, which is just south of Quebec, for $135 round trip (or about $68 each way).

From there, we took a car (we paid about $160 to rent one for three days) and drove about 90 minutes into Montréal.

I also could've flown directly from Orlando to Montréal on discount carriers, such as Breeze and Allegiant Air, or a major airline like Air Canada. I've seen one-way flights as low as $80 and round-trip ones under $200.

Either way, travel costs felt like a great deal. I've seen similar flights to Paris cost five times as much, and it would take me at least four hours longer to fly there instead of Montréal.

Old Montréal's stunning architecture feels European and begs to be explored.

Despite being just a three-hour flight from Orlando, Montréal's delightful cobblestone streets and European-style buildings felt worlds away from Florida's modern cityscapes and sandy beaches.

Because it's fairly walkable, the city was easy to explore on foot — and its architecture made the experience feel enchanting.

The city's café culture is huge, and the food scene is top-notch.

Adding to the charm is the café culture found here, with outdoor bistros serving up everything from decadent French cuisine to casual Canadian classics like poutine.

Plus, Montréal has some excellent bites. It was even dubbed one of the best food cities in the world in Condé Nast Traveller's 2024 Readers' Choice Awards.

We indulged in a luxurious wellness experience and shopped at local boutiques.

We enjoyed shopping at the many local boutiques in town, where our money went further than it would've in Paris. The US dollar goes far in Canada right now — $1 US is worth more than $1.40 in Canada.

This made the many shopping opportunities even more appealing, and it also helped us feel comfortable splurging a bit on a few experiences.

One of our highlights was the soothing hydrotherapy experience at the floating Bota Bota, a historic river ferry that's been converted into an upscale spa.

We loved our cruise along the St. Lawrence River.

It might not be on the Seine, but a river cruise along the St. Lawrence River was a great way to see the city.

Although nothing tops floating past the Eiffel Tower, we loved seeing many of Montréal's own unique landmarks, including the tallest observation Ferris wheel in Canada.

Getting around town was easy, as the city has a Metro system.

In addition to wandering the charming streets on foot and cruising past scenic sights along the river, we had access to the city's extensive Metro transit system.

It has many French influences, and I especially liked its easily identifiable signs that matched the iconic ones seen throughout Paris.

Montréal has its own Notre-Dame, complete with a nighttime light show.

Europe is renowned for its majestic churches, but don't sleep on Montréal's Notre-Dame, which is stunning inside and out.

Featuring striking Gothic Revival-style architecture, the Basilica hosts a nightly light show that uses projection mapping to bring the interior to brilliant life.

Its beauty certainly rivals the Notre-Dame in Paris.

Plus, the city has a wealth of museums, gardens, festivals, and more.

My friends and I spent hours getting lost in the breathtaking Montréal Botanical Garden, located next to the Olympic Stadium that hosted the 1976 Summer Games.

We enjoyed several other local exhibits but still barely scratched the surface of the city's many cultural and artistic offerings.

I think this chic, cultured city is an amazing destination "dupe" for Paris.

The Canadian city reminded me of Paris in many ways and I liked that I could visit at a much easier-to-swallow cost.

So, although few things can top a trip to the "City of Light," I'd return to Montréal's charming streets whenever I crave the allure of Europe at a more approachable price point.

• The global exports of Champagne fell 9.2% in 2024, with 271.4 million bottles shipped out from France.
• Consumers are just not in the mood for celebration, the chief of the French Champagne producers association said.
• It said that global political and economic crises have dulled the festivities.

People around the world aren't in the mood for glasses of bubbly.

Shipments of Champagne have slumped in 2024 because consumers are not in the mood for celebration, according to Comité Champagne, the Champagne producers association.

Global exports of Champagne totalled 271.4 million bottles in 2024, but that was a 9.2% decrease from 2023, the association said in a statement to BI.

Maxime Toubart, co-president of the Comité Champagne, said in the statement that Champagne is a "true barometer of consumer mood."

"And this is no time for celebration, with inflation, conflicts around the world, economic uncertainty and a political wait-and-see attitude in some of Champagne's biggest markets, such as France and the United States of America," Toubart added.

John Noble, the director of Comité Champagne's Australia bureau, added that customers are "justifiably cautious" about buying the luxury product, given the "current economic environment with high inflation and cost of living concerns."

In July, LVMH, the world's largest luxury conglomerate, also sounded concern over its bubbly sales, attributing it to a bleak global outlook.

Sparkling wine sales spiked significantly in 2021 following the relaxation of pandemic restrictions, particularly in the US. But it was a short-lived high.

According to LVMH's 2024 first-half earnings report, the company's revenue from Champagne and wines declined 12% in the first half of 2024 compared to the year before.

"Champagne is quite linked with celebration, happiness, et cetera," LVMH's finance chief, Jean-Jacques Guiony, said in the earnings call in July. "Maybe the current global situation, be it geopolitical or macroeconomic, does not lead people to cheer up and to open bottles of Champagne. I don't really know."

Champagne is not the only luxury product facing a reckoning. In 2024, overall luxury spending stagnated, with big brands seeing their share prices drop.

Kering, the owner of Gucci, YSL, and Balenciaga, saw its stock fall more than 40% last year.

LVMH's sales declined by 3% in the third quarter of 2024, partly because of weakened consumer confidence in China.

The industry was also hit hard by "aspirational" luxury shoppers — those who spent big bucks on luxury immediately after the pandemic — reining in on their spending.

• I spent two days in Toulouse, which Lonely Planet dubbed the top city to visit in 2025.
• Nicknamed the "Pink City," Toulouse is home to several universities and iconic sites.
• Despite its youthful vibrancy and affordable eats, it didn't have the sophisticated vibe I wanted.

My husband and I love exploring new cities, so when we were planning our recent trip across France and Spain, we knew Toulouse would be one of our stops.

Located in southern France near the Spanish border, it has long attracted tourists — and travel site Lonely Planet named it the top city to visit in 2025.

Toulouse is home to several universities and iconic sites, including the historic Dome de La Grave along the Garonne River. It's also been nicknamed the "Pink City" for its stunning rosy-colored terra-cotta architecture.

Although my husband loved our two days in Toulouse, something about it didn't fully click for me.

A lot of the city seemed to be oriented toward college students

I'm not a fancy-pants traveler, but I still like to incorporate some swankiness into my trips. Unfortunately, we didn't find many opportunities to sprinkle sophistication into our days in Toulouse.

As we were in a large French city, I expected to see a few more upmarket shops (other than Galeries Lafayette) and high-end restaurants mixed in with all the secondhand shops, bookstores, and casual eateries.

Instead, we found more businesses and affordable eateries that seemed geared toward local students. On the plus side, though, we saved money eating at the plentiful quick and tasty cafés, like El Amacen empanada bar.

In addition, Toulouse seemed to have a lively nightlife, which makes sense considering the many nearby universities.

It was a bit too much for me, especially since this meant we heard many loud people heading out of the bars late at night near our hotel.

We stayed in the middle of the city, so I wasn't expecting silence. In fact, I enjoy hearing the sounds of a city in the evening. However, at a certain point — say, after 11 p.m. — I appreciate some quiet.

My husband and I wanted to keep our hotel window open to get some fresh air as we slept, but the late-night revelers made that a less-appealing option.

The traffic and roads were difficult for us to navigate

I'm happy we had the experience of driving across France, but doing so was particularly stressful in Toulouse.

As with most major cities, traffic here felt intimidating — especially since Toulouse has numerous narrow one-way streets.

Upon arrival at our hotel, we had to circle the roads several times before we could eventually pull over to the valet, as numerous vehicles were double-parked, and we didn't want to block traffic.

Thankfully, Toulouse is a very walkable city, and we mostly managed to get around on foot to take in the sights and visit friends. Next time we're in France with a car, though, we'll head elsewhere.

Overall, I wasn't blown away by Toulouse — but maybe younger travelers would be

We enjoyed Toulouse's rosy architecture, museums, and charming views from the banks of the Garonne River, but it just didn't have that certain je ne sais quoi I've felt in other large French cities like Paris or Bordeaux.

In many ways, Toulouse felt like a college town, probably because it kind of is one, with its multiple universities and sizable student population (tens of thousands!).

I wished it had felt more expansive, sophisticated, and buzzing with excitement — though preferably not loudly and late into the night.

Although I understand why many love the city, I feel like I would've liked it more when I was in my early 20s. I'm in my 40s now.

To be fair, we were in Toulouse for less than 48 hours and stayed within the city center, so I realize that doesn't give me the most comprehensive perspective.

Still, first impressions are important. I'm glad we went, but I left feeling like one visit was enough.

Several Olympians will receive new medals after complaining that their hardware from the 2024 Summer Games in Paris have already begun to tarnish, according to the French mint that produced the medals. 

The Monnaie de Paris, which produced 5,084 medals for the Paris Olympic and Paralympic Games, told The Associated Press that it will replace medals after several athletes complained that they had already begun to deteriorate as early as August. 

"The Monnaie de Paris has taken the issue of damaged medals very seriously since the first exchange requests in August, and has mobilized its internal teams," the French mint said. 

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"Since then, the company has modified and optimized its relative varnishing process. The Monnaie de Paris will replace all damaged medals at the athletes’ request during the first quarter of 2025."

According to the AP, the French mint declined to comment on the exact number of medals it would be replacing, but a French outlet reported the number was over 100. 

The International Olympic Committee (IOC) said it was working with the French mint to ensure the medals are made in an "identical way to the originals."

US SWIMMING GREAT GARY HALL JR WILL HAVE 10 OLYMPIC MEDALS LOST IN LA WILDFIRES REPLACED, IOC SAYS

"The Organising Committee of the Olympic Games Paris 2024 is working closely with the Monnaie de Paris, the institution tasked with the production and quality control of the medals, in order to appraise any issues with medals to understand the circumstances and cause of any damage," the IOC said in a statement to Front Office Sports.

"Damaged medals will be systematically replaced by the Monnaie de Paris and engraved in an identical way to the originals."

American skateboarder Nyjah Huston was among the athletes to complain about the medals tarnishing. After winning bronze in the men’s street event, Huston took to social media just days later to reveal how his medal had deteriorated. 

"Alright, so these Olympic medals look great when they are brand new," Huston said in a video posted on Instagram. 

"But after letting it sit on my skin with some sweat for a little bit and then letting my friends wear it over the weekend, they are apparently not as high quality as you would think." 

French swimmers Yohann Ndoye-Brouard and Clément Secchi also recently complained about their medals chipping. 

The medals were crafted to include polished chunks of iron taken from the Eiffel Tower which were saved from renovations. 

The Associated Press contributed to this report. 

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French Foreign Minister Jean-Noël Barrot on Wednesday flatly said the European Union will not allow President-elect Trump to take Greenland by military force.

"It is out of the question that the European Union would let other countries ... attack its sovereign borders, whoever they are," Barrot said on French radio, according to Politico. 

Barrot added that he doubts Trump would take the extraordinary step of invading Greenland.

"If you're asking me whether I think the United States will invade Greenland, my answer is no. But have we entered into a period of time when it is survival of the fittest? Then my answer is yes," Barrot said.

DANISH PRIME MINISTER HAS BLUNT MESSAGE FOR TRUMP: GREENLAND IS NOT FOR SALE

That stark warning comes after Trump made various statements calling the island territory vital to U.S. national and economic security interests and expressing interest in purchasing it from Denmark. He has made similar comments about wresting the Panama Canal from Panama's control after the U.S. relinquished the canal in 1977. 

On Tuesday, the incoming U.S. president would not rule out using military force to gain control of Greenland  or the Panama Canal when asked about the issue at a press conference.

A reporter asked Trump if he could assure the world he would not use military or economic coercion to gain control of the Panama Canal and Greenland.

"No, I can't assure you on either of those two. But I can say this, we need them for economic security," Trump said. 

DONALD TRUMP JR ARRIVES IN GREENLAND AS HIS FATHER SAYS DENMARK ‘GIVE IT UP’

Danish Prime Minister Mette Frederiksen emphasized Tuesday that Greenland is not for sale.

Frederiksen told a Danish TV station that Greenlandic Prime Minister Múte Egede "has been very, very clear – that there is a lot of support among the people of Greenland that Greenland is not for sale and will not be in the future either," according to The Hill.

She reportedly told TV 2 that Greenland will choose its own future and said, "We need to stay calm and stick to our principles," while praising the U.S. as a key Danish ally. 

TRUMP ESCALATES PLANS TO ACQUIRE GREENLAND AFTER RESIDENT PLEADS: ‘DENMARK’S USING US'

In a Truth Social post on Monday, Trump said he was "hearing that the people of Greenland are ‘MAGA'." The Republican attached a video that purportedly shows a Greenlander asking the U.S. to buy his country.

Trump's son arrived Tuesday in Nuuk, the Arctic territory's capital. He met with locals, visited cultural sites and shot video for a podcast. The president-elect posted a video showing a plane emblazoned with the word "TRUMP" landing in Nuuk.

"Don Jr. and my Reps landing in Greenland," Trump wrote. "The reception has been great. They, and the Free World, need safety, security, strength, and PEACE! This is a deal that must happen. MAGA. MAKE GREENLAND GREAT AGAIN!" 

At Tuesday's press conference, Trump said of Greenland, "Denmark should give it up." 

• The leaders of the UK, Germany, and France have condemned Elon Musk's comments about Europe.
• His frequent X posts have become increasingly extreme in recent days.
• It's not clear how these interventions benefit Musk, but they don't appear to be hurting him either.

Donald Trump is less than two weeks away from being sworn in as president for the second time. But, after spending hundreds of millions helping him return to the White House in an election he said would decide "the fate of Western civilization," Elon Musk is increasingly focused on European politics.

Musk has said he became outspoken on politics to "defeat the woke mind virus." Since Trump's election, he has turned his brash focus toward Europe in his frequent posts on X.

He's called for the release of a far-right agitator from prison in the UK, called the country's leader "utterly despicable," and wondered whether America should "liberate" Britain — all in the past week.

Musk has inserted himself into and fueled a political row over the UK government's handling of an inquiry into gangs who sexually exploited children. When he acquired Twitter, now called X, in 2022, he said combating images of child sexual abuse on the platform was "Priority #1."

Musk has also endorsed Germany's far-right AfD party ahead of elections there in late February. His comments have earned him rebukes from leaders across the continent.

Musk's interventions have been condemned by the leaders of Germany, France, and the UK

"Don't feed the troll," German chancellor Olaf Scholz said on Sunday after Musk posted that "only the AfD can save Germany." On Monday, French President Emmanuel Macron said, "Ten years ago, who could have imagined it if we had been told that the owner of one of the largest social networks in the world would support a new international reactionary movement and intervene directly in elections."

UK Prime Minister Keir Starmer, who leads the left-leaning Labour Party, hit back at Musk, without naming him, in a speech the same day, saying: "Those who are spreading lies and misinformation as far and as wide as possible are not interested in victims — they're interested in themselves."

Musk plans to host a conversation on X with the AfD's leader this week. He earlier defended his intervention in Germany in an op-ed in Welt am Sonntag, saying he has "significant investments" there — Tesla has a factory near Berlin. (Welt am Sonntag, along with Business Insider and Politico, are owned by Axel Springer.)

But, unlike in America, his political interventions in Europe don't obviously affect those investments. Tesla stock closed at $251 on Election Day in November. It then surged as investors recognized that Musk's gamble backing Trump had paid off.

As Musk has posted about Europe in recent days, Tesla's stock has remained relatively stable, closing at $411 on Monday, suggesting that investors are paying little, if any, attention.

Musk has become particularly engrossed in UK politics

The world's richest person has been posting and reposting dozens of times a day on X. He's also boosting the reach of those he endorses to his 211 million followers.

Musk posted last week about the UK's grooming scandal, calling for Starmer to resign and be jailed for "his complicity in the worst mass crime in the history of Britain."

This was followed on Saturday by a front-page Daily Mail story headlined, "Starmer 'guilty as anyone' over grooming gangs." The comment was from a former detective and whistleblower who helped expose pedophile gangs, but Musk's posts have fueled the story and helped keep it on the front pages of arguably the UK's most influential newspaper.

On Tuesday, Politico even attributed a government response in the House of Commons regarding the scandal to Musk, saying he had "elicited some action."

Musk turned on Nigel Farage, the British politician and Trump ally

Other British newspapers, such as the Daily Telegraph, have also carried significant coverage of Musk's comments — and reported that Musk was mulling a huge donation to Nigel Farage's Reform UK party.

Farage has called Musk a "hero," but Musk said on Sunday that Farage, a member of Parliament and a friend of Trump's, should quit as leader. He appears to have turned on him after Farage didn't follow his call for far-right agitator Stephen Yaxley-Lennon, who calls himself Tommy Robinson, to be freed from prison.

Yaxley-Lennon is serving a sentence for contempt of court after repeating untrue claims about a Syrian refugee, for which he was previously successfully sued for defamation.

Musk's pivot was reported across Britain's front pages on Monday, and Starmer's attack on him was headline news on Tuesday.

Some British commentators have run with Musk's comments to put pressure on the Labour government. On Monday, Piers Morgan wrote on X that Starmer "must order a full no-holds-barred national inquiry into exactly what happened in the appalling gang rape scandal," including "who was accountable for such lengthy systemic failure of justice." Morgan said Starmer should also investigate "his own role," as Starmer was the country's chief prosecutor when the scandals first emerged before he entered politics.

Musk's interventions in the US benefited him materially. The analyst Dan Ives called Trump's reelection a "home run" for Tesla, with the stock rising the day after the election. Having the new president's ear will likely help Musk secure policies favorable to his companies. There is no obvious corollary in Europe, leaving many wondering how this is benefiting him.

But the past few days also suggest Musk has little to lose by continuing to post whatever he likes on X.

Grand Antique marble, from the Pyrenees Mountains, is renowned for its naturally occurring stark black-and-white contrast. It's been in demand among the elite as early as antiquity. The Romans quarried it for centuries, and it's featured in St. Mark's Basilica in Venice, as well as Joseph-Napoléon Bonaparte's tomb. But mining this marble ground to a halt nearly 70 years ago — until a quarryman rediscovered it. Now, a square meter of Grand Antique costs nearly $2,000.