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Handbags aren’t their bag, baby!

Makers of pricey handbags are at risk of losing a generation of customers as millennials and Gen-Zers ditch purses, clutches and pocketbooks in favor of backpacks and even fanny packs and that’s if they carry a bag at all, according to a study.

Just 39% of women aged 18 to 35 said they carry a handbag for activities other than work or school, according to a survey from Circana, which tracks online and in-store retail receipts for some 150,000 consumers.

That’s compared with 60% of women aged 35 and older who say they always carry a handbag.

Younger women bought 2% fewer handbags during the 12 months ended in April compared to the previous year, while handbag sales by older women spiked 7% during the same time frame, according to the report.

That’s a major gap with profound long-term implications for luxury brands like LVMH and near luxury brands like Coach which depend upon handbags for the lions share of their revenues and profits, said Pamela Danziger, author of Meet the HENRYS: The Millennials That Matter Most for Luxury Brands.

Donning a fanny-pack, meanwhile, doesn’t seem to be the fashion faux pas it once was — despite Kim Kardashian being recently ripped for sporting one.

Sales of fanny, waist and chest packs were up 56% among younger women while sales of everyday backpacks were up 7%, according to the report. A Lululemon belt bag that sells for less than $40 has been especially popular, says Beth Goldstein, Circana’s footwear and accessories analyst.

Younger women who are “seeking both function and fashion” are also scooping up small crossbody bags, which is the most popular style, she said.

Sales of womens wallets year to date, meanwhile, are down just over 20% compared with the same period in 2019, while sales of credit card cases are up 16%, according to Circana.

We dont need to carry as much because we arent going to the office every day and our phones have become our wallets, Goldstein added.

Danziger attributed the bagless trend by young women to their desire to be hands-free, while older women carry bags with them out of habit.

Some older women including Martha Stewart is among the older women breaking the habit and embracing the trend.

What are handbags? the 81-year-old domestic diva told Vogue in a recent interview. “I have a Bandolier phone case, which is my pocketbook.

Younger women aren’t completely shunning bags, since showy, name-brand handbags are the preferred way for women to display their luxury status, Danziger added.

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Entertainment

Blake Lively and Justin Baldoni’s lawyers told to stop discussing cases

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Blake Lively and Justin Baldoni's lawyers told to stop discussing cases

A judge has warned Blake Lively and Justin Baldoni’s lawyers to stop publicly discussing their competing lawsuits.

Both actors – who co-starred in 2024’s It Ends With Us – have filed lawsuits against each other following an initial legal complaint from Lively.

The 37-year-old accused Baldoni of sexual harassment on the set of the film – and an alleged subsequent plan to damage her reputation.

Baldoni then sued Lively and her husband Ryan Reynolds, accusing them of hijacking both the production and marketing of the film, as well as allegedly attempting to smear him and others who worked on the production through false allegations.

New York district court judge Lewis J Liman has scheduled a trial date combining the two claims for March 2026 – but warned both parties on Monday that their comments to the media could impact their cases.

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Why is Blake Lively suing Justin Baldoni?

Lively’s lawyer Michael Gottlieb complained that Baldoni’s lawyer Bryan Freedman violated professional ethics rules for lawyers by accusing the actress of “bullying” in People magazine.

He told a hearing at Manhattan federal court that “it’s very hard to un-ring the bell” and argued such statements could taint a jury pool.

But Mr Freedman complained “this has not been a one-way street”, and claimed his comments to the magazine and on a podcast were a response to a New York Times article from 21 December that “completely devastated” Baldoni.

Judge Liman has now adopted a state rule barring most out-of-court statements that could affect a case’s outcome – with an exception to protect clients from prejudicial adverse publicity. Neither lawyer objected.

Lively’s legal team have previously accused Mr Freedman in a court filing of trying to influence potential jurors by creating a website to release selected documents and communications between her and Baldoni.

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In late December, Lively sued Baldoni, his production company Wayfarer Studios and others in New York for sexual harassment and attacks on her reputation, asking for unspecified damages.

Baldoni then filed his lawsuit in January, accusing Lively and her husband, Deadpool star and Wrexham FC co-owner Reynolds, of defamation and extortion. He is seeking at least $400m (£321m) in damages.

The actor also sued The New York Times newspaper for libel after it published allegations about him.

Lively starred in the 2005 film The Sisterhood Of The Traveling Pants before rising to fame in the TV series Gossip Girl from 2007 to 2012. She is also known for films including The Town and The Shallows.

Baldoni is known for the TV comedy series Jane The Virgin and for directing the 2019 film Five Feet Apart. He also wrote Man Enough – a book pushing back against traditional notions of masculinity.

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Politics

US Treasury sued for giving Elon Musk’s DOGE access to sensitive info

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US Treasury sued for giving Elon Musk’s DOGE access to sensitive info

The US Treasury was accused of unlawfully allowing Elon Musk and his government efficiency organization access to millions of Americans’ personal and financial data.

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Technology

China to launch probe into Google over alleged antitrust violations

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China to launch probe into Google over alleged antitrust violations

In this photo illustration, a Google logo is displayed on the screen of a smartphone. 

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China said Tuesday it will launch an investigation into Google over alleged antitrust violations.

The country’s State Administration for Market Regulation said that it would initiate an investigation into the technology giant because of alleged violations of China’s anti-monopoly law, according to a Google translation of the official statement.

The statement followed closed on the heels of China announcing additional tariffs on select U.S. goods.

China’s finance ministry said it will levy tariffs of 15% on coal and liquified natural gas imports from the U.S., starting Feb. 10. It will also impose 10% higher duties on American crude oil, farm equipment and certain cars and trucks.

Google stopped its internet and search engine services in China in 2010, but continues some operations including helping Chinese businesses looking to advertise on Google platforms abroad.

The Google investigation could end without any penalties, Julian Evans Pritchard, head of China economics at Capital Economics said in a note.

Google is facing regulatory scrutiny in several countries including the U.S.

The company lost a lawsuit in August filed by the U.S government in 2020. It accused the firm of having a monopoly in the general search market by creating strong barriers to entry.

Following the ruling, the U.S. Department of Justice pushed in November for Google to divest its Chrome browser. The department also argued that Google should not be allowed to enter into exclusionary agreements with third parties such as Apple and Samsung.

Google is also currently being investigated by the U.K.’s Competition and Markets Authority over whether it has “strategic market status” under a new UK law.

— CNBC’s Anniek Bao, Ryan Browne and Jennifer Elias contributed to this report.

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