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Office Envy? A look inside L’Oreal USA’s headquarters at Hudson Yards, Manhattan

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L'Oreal USA's outside terrace at 10 Hudson Yards, Manhattan

Photo credit: Garrett Rowland, courtesy of Gensler

L’Oreal USA’s outside terrace at 10 Hudson Yards, Manhattan

In 2016, L’Oreal USA moved its headquarters from nearby Midtown to Hudson Yards, joining a host of major firms that had chosen to park their offices in the West Side area, including TimeWarner, SAP and Coach.

For the cosmetics giant, the move was designed to reflect a culture that encouraged learning, innovation and sustainability. L’Oreal employees were looking for a more digitally connected environment, one which offered space for collaboration and inspiring surroundings.

“We heard what our employees were looking for, which was a collaborative meeting space,” Sumita Banerjee, the senior vice president of talent acquisition for L’Oreal Americas, told CNBC Make it during a tour of the headquarters.

“We’ve got 12,000-plus square feet of meeting space here in this incredible building, where employees can meet, get together for casual conversation, or tackle the big projects and think about what that next consumer needs for the future.”



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UAE announces IDEX weapons deals as Middle East arms spending climbs

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Attendees walk the floor at IDEX, the International Defence Exhibition and Conference, in Abu Dhabi in 2015.

Markus Matzel | ullstein bild | Getty Images

Attendees walk the floor at IDEX, the International Defence Exhibition and Conference, in Abu Dhabi in 2015.

The United Arab Emirates announced about $1.35 billion in defense deals with local and international companies on the opening day of IDEX 2019, the International Defence Exhibition and Conference, in Abu Dhabi on Sunday.

Of the 33 deals announced Sunday, 18 were domestic and 15 were with foreign firms, the latter accounting for just under $1.1 billion of the total, an IDEX spokesperson said during a news conference.

American companies took the greatest share of foreign sales, at about $490 million. Led by Raytheon, Lockheed Martin and Hesco, the deals will provide missiles, new radar systems capabilities and defensive shelters for the UAE military, respectively. Others notching sales to the country included France’s Thales, Australian firm EOS Defense and Germany’s Rheinmetall Electronics.

The deals with 18 domestic firms highlight the small Gulf country’s investment in developing its own defense manufacturing industry as part of a drive to diversify its economy away from oil.



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Geneva Motor Show to debut electric versions of two long-gone cars

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Exhibitors ride in a 1922 Hispano Suiza H6B Chapron Splendid Landaulet motor vehicle during the 2016 Pebble Beach Concours d'Elegance in Pebble Beach, California, on Sunday, Aug. 21, 2016.

David Paul Morris | Bloomberg | Getty Images

Exhibitors ride in a 1922 Hispano Suiza H6B Chapron Splendid Landaulet motor vehicle during the 2016 Pebble Beach Concours d’Elegance in Pebble Beach, California, on Sunday, Aug. 21, 2016.

But it will be back at the Geneva Motor Show in the form of the all-terrain concept. Though officially dubbed a show car, it is a thinly disguised version of the production crossover due to come to the market in about two years, Aston officials acknowledge.

“The Lagonda All-Terrain Concept offers explicit clues regarding what will be the first Lagonda model to enter production, and further demonstrates how Lagonda’s zero emission powertrain enables us to create spectacular cars that will radically redefine their sectors of the market,” Aston CEO Andy Palmer said in a statement.

The revival of Lagonda was put into motion as part of the seven-year plan Palmer laid out after joining the British automaker in 2014. A second model, a sedan, is expected to join the crossover by around 2022. And, like the all-terrain, it will be all-electric as will all future Lagondas, Palmer told CNBC in an interview last fall.

Neither Aston nor Hispana Suiza has announced pricing, though both models are expected to push well into six figures, the Carmen potentially topping $1 million, according to various reports that compare it to other ultra-low-volume hypercars.

It remains to be seen if either brand name will pull off a comeback but both manufacturers are hoping that by going all-electric they can stand out from more traditionally focused competitors.



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Stocks rally on US-China trade deal but bond investors fear recession

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Trade talks between the U.S. and China appear to be making some progress and are scheduled to continue in the coming week. That has helped lift stocks, with the S&P 500 up 2.5 percent and the Dow gaining 3 percent in the past week.

The Federal Reserve’s about-face on policy in January has also helped lift stocks and keep bond yields low. After its Jan. 30 meeting, the central bank indicated it is not in a hurry to raise interest rates, and that it could slow down the process to reduce its balance sheet.

For their part, stock investors love low interest rates and an easy Fed. Lower rates also means bond yields do not need to move higher, particularly in an economy that is growing slower with no inflation pressures.

Important for investors is that when these two markets trade in the same direction, there ultimately is a breakout and one dictates direction.

“I think there’s a couple of things in the bond market that don’t connect to reality the way the equity market sees it,” said Hogan.

In his view, the stock market is moving higher based on three assumptions: An end to the U.S.-China trade fight, an accomodative Fed, and continued economic stability in both the U.S. and China.

Conversely, “I don’t think the bond market is behind that narrative,” Hogan added. “The bond market is looking at the economic data stream and reflecting on the negatives.”

Vinay Pande, head of trading strategies at UBS Global Wealth Management, said that the bond market is not trading as if it were reflecting the same growth expectations of the stock market. “Most economists think the economy is slowing, but we don’t know how much it’s slowing. That’s a bit of an issue for the Fed, and that’s why they’re going to be on hold.”

He explained that currently, bonds look as if they see growth a full percentage point below what economists have forecast. The median fourth quarter GDP growth forecast is 2.4 percent, while first quarter is 2 percent, according to CNBC/Moody’s Analytics Rapid Update.

“Is the bond market expressing the longer term consensus? No, it’s not,” said Pande. “The bond market is really trading like it’s a reinsurance market,” where reinsurers will raise prices with each successive event: If there were hurricanes five years in a row, they would still charge as though another hurricane was expected in the sixth year.

That is how the bond market is now responding to weak data — as if it is forecasting an economic storm, or even recession that may not come.

“There’s a muscle memory to this,” Pande added.



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