A fire broke out Thursday in the basement of the flagship Tiffany & Co. store on New York's Fifth Avenue, officials said.
Videos posted on the Citizen app showed smoke billowing out of the basement of the iconic store, which reopened in April after an extensive renovation. They also showed firefighters battling the blaze with hoses.
Details on injuries from the fire were not immediately available. Fire Department officials planned a briefing at the scene later Thursday.
The Fifth Avenue store made famous by the 1961 movie “Breakfast at Tiffany's” is the headquarters of the luxury retailer founded in 1837 by by jeweler Charles Lewis Tiffany. The company was acquired by LVMH in 2021.
A company spokesperson didn’t immediately respond to a request for comment.
Brian Vendig, president of MJP Wealth Advisors, joined Cheddar News to discuss the market ahead of the Federal Reserve's meeting on Wednesday and as investors digest JPMorgan's takeover of First Republic Bank, which was recently seized by regulators. A slew of earnings are also slated to be released this week as well.
The saga of Adidas' high-profile break-up with Ye, formerly known as Kanye West, continues. Investors have filed a class action lawsuit alleging that executives were aware of Ye's behavioral issues well before Adidas ended its relationship with him last October.
The top financial concern for Americans in 2023 is inflation. Sudha Chandrasekharan, SVP, of Global E-Commerce at Auctane, joins Cheddar News to discuss how this outlook will change consumer spending habits, and why e-commerce is playing a vital role in the economy.
Charlie Munger, vice chairman of Berkshire Hathaway, told the Financial Times that the U.S. commercial property market is in trouble. “It’s not nearly as bad as it was in 2008,” he said. “But trouble happens to banking just like trouble happens everywhere else.”
Labor strife is coming to a head in the entertainment industry, as the Writers Guild of America (WGA) said it's prepared to strike at midnight Tuesday if it doesn't come to terms with the Alliance of Motion Picture and Television Producers (AMPTP).
