Britain’s financial regulator has said Binance, one of the world’s largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally.
In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance’s only regulated UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities… with immediate effect”.
It also issued a warning to consumers about Binance Markets and the wider Binance group.
Robert Bosch chief executive officer Volkmar Denner will hand over the reins to automotive unit head Stefan Hartung at the end of the year after running the German engineering giant for almost a decade.
Denner, 64, will become a scientific adviser focused on the company’s research into quantum technology, Bosch said Thursday in an emailed statement. The CEO changeover and additional management appointments take effect on January 1, 2022.
Denner navigated the world’s largest maker of vehicle components through the fallout of Volkswagen AG’s diesel-emissions scandal and the dramatic industry slump triggered by the Covid-19 pandemic. He transformed Bosch’s sprawling operations to focus on technology for the so-called Internet of things that connects products from car parts to refrigerators and power tools to the web.
With prices starting at €9.5m, backers of what will be the world’s largest superyacht are offering 39 apartments for sale as they bet on resilient demand for exclusive luxury travel.
The 220-metre vessel is due to launch in 2024 and will provide buyers with “the intimacy of a private yacht alongside the chance to network in a vibrant community of like-minded owners”, its investors said as they announced the €500m project on Monday.
Somnio will be more than 40 metres longer than the current record holder Azzam, owned by the Abu Dhabi royal family. The project has been spearheaded by Carl Le Souef, a US millionaire who founded Private Formula International, a skincare company, and now runs Somnio Global, a sustainable technology group.
Blockchain-based currencies are making inroads in the Middle East with Dubai’s first-of its-kind crypto listing and the Bank of Israel’s trial of a digital shekel.
The Bitcoin Fund, that invests in long-term holdings of the cryptocurrency and was the first of its type to be listed on a major exchange, expanded to Nasdaq Dubai last week to ensure trading to all hours around the globe.
In Israel, where a recent central bank study concluded a digital currency could have a positive impact on the economy, Ethereum was picked for a trial of the payment system.
There was a word of caution, however. Qatar’s Chief Investment Authority Chief Executive Officer Mansoor Bin Ebrahim Al Mahmoud told Bloomberg’s Qatar Economic Forum that cryptocurrencies “need a bit of maturity before we make our view about investing.”
China, home to one of the world’s largest pharmaceutical industries, added a new billionaire from the field on Friday.
Shares in vaccine maker Changchun BCHT Biotechnology rose by 226% from their IPO price on debut on the STAR board at the Shanghai Stock Exchange to close at 118.5 yuan. That left President Kong Wei’s 25% stake worth 12 billion, or nearly $1.9 billion.
Founded in 2004, the company is a spinoff from the Changchun High & New Technology Industry (Group), which holds 41% of its shares.
The adaptive reuse of a 19th-century building fronting Charleston’s King Street is paving the way for a mixed-use property that lasts 150 years more.
Built circa-1871 by architect John Henry Devereux for the city’s freemasons, the Tudor Gothic Revival edifice sat sentinel at 71 Wentworth Street for decades, until developers East West Partners got designs to transform it with the aid of architect Kevan Hoertdoerfer, designer Cortney Bishop and the blessing of the Preservation Society of Charleston. Double- to triple-height cathedral ceilings and gothic arched windows soar as high as 18 feet, within 12 superlative private residences that span the upper two floors.
Designed to spec by Bishop in five distinct floor plans, they’ll feature original materials (exposed antique brick, original heart pine beams), elegant loggias, high-end appliances, luxury finishes (hand-troweled plaster, certified sustainable French oak floors, Evirio marble, Zellige tile), local cabinetry by Brooks Custom Woodworks and sculptural furnishings, plus modern technologies that bring the building forward. Units will be move-in ready early next year.
Last year marked the 100th anniversary of British furniture brand Ercol—long known for marrying timeless modern designs with old-fashioned woodworking traditions—and the introduction of the luxury subbrand L.Ercolani, which selected Denver for its North American headquarters.
Located in RiNo’s Studio Como building, the new home base includes showroom space for beloved Ercol classics, including company founder Lucian Ercolani’s iconic 1958 Butterfly chair, displayed alongside recently launched L.Ercolani collections designed in collaboration with contemporary visionaries such as Norm Architects, Atlason Studio, Jonas Wagell and Lars Beller Fjetland.
The heirloom-quality furnishings, which were built in Buckinghamshire, a region of England synonymous with furniture-making, are a natural fit for Studio Como’s portfolio of European furniture brands that prioritize craftsmanship and comfort. If you find it difficult to distinguish between L.Ercolani’s new releases and Ercol originals—including the modernist take on the classic Windsor chair with which Lucian Ercolani made his name—that’s by design.
“Our common thread is heritage quality and craftsmanship,” says Ben Gaffney, L.Ercolani’s vice president of the Americas and international design development. “We love the visual discoveries in our classics designed by Lucian Ercolani, like our wedge-and-tenon and dovetail joints. You can see some of those techniques in our current lineup. And, just like Lucian, we continue to evolve and improve.”
PHOTO BY CHRISTIAN MØLLER ANDERSEN, COURTESY L.ERCOLANI
To some, the term “desert” brings to mind a vast, brown and barren landscape. Anyone who is familiar with the Sonoran Desert, however, knows the reality is far more vibrant. The azure sky turns a dusty pink at sunset, and, come springtime, the earth is punctuated by a cacophony of flowering cacti and blooming blue palo verde.
It was this natural palette that inspired designers Kim and Kathryn Scodro when they teamed up with architect Bing Hu and builder Steve Sommer to realize their clients’ vision for a traditional abode on a nearly one-acre lot abutting a mountainous forest preserve in Scottsdale. “They wanted an East Coast aesthetic that fit within the beauty of a desert setting,” Kim says. But realizing the owners’ goals while adhering to the gated community’s rigid design guidelines, which specified dark colors and textured materials, posed significant hurdles. “The guidelines are about respecting the desert and blending in with it,” Hu explains, noting the area was originally a cattle ranch.
Armed with historic photos of desert ranches, Hu pitched his ideas to the committee, ultimately winning approval to contrast the neutral cement board siding and western sandstone with brilliant white roof eaves and window trim. Crisp white millwork likewise defines the covered front entrance, which is set off by pale blue door. “It’s a nice arrival point,” Hu observes.
It also sets the tone for what’s to come: calming interiors with classic touches—such as custom millwork and a marble fireplace—that nod to the clients’ desire for a casually elegant sanctuary. “We wanted it to feel warm and welcoming,” explains the wife.
With that in mind, Kim and Kathryn selected a bright, cheerful Sarah Otts oil painting as a greeting in the foyer. “She fell in love with this piece,” Kim says of the wife’s reaction to the colorful abstract. “It’s just happy.”
For the sanctuary-esque vibe that the owners desired, the designers chose to integrate shades of blue throughout. A blue tête-à-tête in the adjacent living room and the hand-painted flowers upon a neutral wallcovering in the dining room both nod to the owners’ classic leanings. But the fresh color keeps it casual enough for the rooms to feel family-friendly (which is necessary, as there are two children and a golden retriever running around). The palette flows into the kitchen, where doors painted in a muted blue-gray color pop against the creamy perimeter cabinetry, quartzite counters and hand-tumbled white subway backsplash. “It all flows and works together,” Kim says.
The bedrooms are no exception. Designed with the wife in mind, the room’s pale wall-to-wall carpeting and a neutral grass-cloth wallcovering “add such warmth,” Kim muses, while also highlighting the white millwork and peaked wood-beamed ceiling. And, while the team may have been thinking of the wife’s preferences, the husband enjoys the restful space just as much. “He drinks coffee in the corner chair in the bedroom every morning,” the wife says. “It’s a beautiful place to watch the sunrise.”
But the home is not just meant to be a respite for its owners. The clients wanted their guests to feel just as comfortable, so the team created a first-floor guest suite, complete with a private patio. “It feels like the chicest hotel room,” notes Kim.
Accessible from just about every room, the exterior spaces are just as breathtaking. The living area opens to a spacious covered patio complete with areas for living, dining and cooking. A verdant patch of grass frames the placid blue swimming pool, which has an integrated hot tub with picture-perfect mountain views.
With such a plethora of areas to spread out, these outdoor spaces have proven to be some of the most well-used spaces. During this time of avoiding indoor interactions, the ability to enjoy socially distanced outdoor gatherings (even setting up a movie screen so the kids could enjoy their favorite popcorn thriller from the water) has proved to be a life saver. “Even these minimal and simple interactions give you the fuel to go on,” the wife says. “These spaces have worked overtime.”
“With ceilings reaching over 20 feet, the goal for this space was to make the room feel inviting,” says designer Kim Scodro of the entry to this Scottsdale home she designed with architect Bing Hu. To that end, she installed a colorful abstract artwork by Sarah Otts above an Asian-inspired Hickory Chair console.
In 2014, entrepreneur and Denver transplant Lee Mayer began her takeover of the digital design space by co-founding Havenly, an online alternative to traditional interior design services that digitally delivers custom decorating ideas. Now she’s making her next big move: launching three new Havenly-curated home brands. Here, Mayer shares the details with Luxe.
What inspired you to enter the home goods marketplace?
We learn so much every day from our clients and designer base about what they are looking for in the market. This helped us see trends in design early on and identify gaps in the marketplace. The natural next step was to curate home brands offering on-trend goods at approachable price points to better serve our customers.
Tell us about the new collections.
One of our most popular styles is the quintessential California-casual vibe, with a relaxed yet refined quality that feels as lovely as it is livable. We introduced Cove Goods as our interpretation of the Pacific-natural lifestyle, paying homage to new coastal design with neutral colors, woven textiles and timeless details. Roam Common is all about la vie bohème. Inspired by free-spirited style, the line features organic textures, globally inspired motifs and pops of vibrant color. And we created Studio Marcette to infuse everyday luxury into our clients’ homes; it combines trending patterns, rich textures and clean lines to make any space feel a little more glamorous. At Havenly, we call the inspiration behind this brand “Parisian Modern”—a mix of ornate details and modern sensibilities.
PHOTOS COURTESY ROAM COMMON, COVE GOODS AND STUDIO MARCETTE