Today’s Big Story

Saunas Are Hot Right Now

They’re not a new concept, but they’re the newest social club

It’s certainly not a new concept. In fact, men have been gathering in steam baths at country clubs for decades—kicking back and doing casual business. And the act of sitting in a sauna is a seriously old practice, holding an important place in cultures around the world, from the Turkish hammam to the Japanese onsen and Russian banya. But it seems like suddenly, demand for private and public places to sweat is sizzling.

As The Economist points out, “you’d be forgiven for thinking that Othership is a nightclub. The venue, in Manhattan’s Flatiron district, is bathed in golden light; techno music pulses throughout.” But it is, in fact, a trendy sauna. (How trendy? Well, a single visit will set you back at least $45.) Some come to Othership to take part in guided meditation sessions or to focus on recovery by dropping into their frigid ice baths. But most come to socialize in the 185°F dry heat.

Among the breathwork, aromatherapy and live music, there’s also group “sharing” sessions. Of course, the expansive 7,000-square-foot oasis with cavernous ceilings includes a 90-person performance sauna so it’s not surprising that the spot highlights programming specifically designed to encourage community building. It certainly doesn’t help that the luxurious spot is beautifully designed, with “warm and aesthetically-pleasing touches throughout to help create a soothing and relaxing environment.”

These kind of social saunas have become one of the hottest wellness trends, both in America and Europe. Market-research firm Grand View Research estimates the global sauna industry will surpass $1.3 billion by 2030, compared to around $905 million last year. And the number of social saunas in the UK has recently jumped from around 45 in 2023 to 147 so far this year, reports Fast Company.

Third spaces, like the old school coffee house, seem to be disappearing, and younger people are consuming less alcohol. They’re not looking to meet up at a bar. So these communal saunas reflect a growing desire for wellness and for socialization opportunities with an edge of glamour and luxury. This also helps explain why some airlines are even adding saunas to their first class lounges.

U.S. and China to Hold Formal Talks

A significant step toward Washington and Beijing beginning negotiations amid an ongoing trade war

U.S. and Chinese officials will meet in Switzerland this week for their first formal economic talks since President Trump announced sweeping tariffs on China and triggered a trade war, the Treasury Department announced Tuesday evening. This is welcome progress, as the trade war between the world’s two largest economies threatens the global order and the talks in Geneva will mark the first high-level meeting between American and Chinese officials since China’s Vice President Han Zheng attended Trump's inauguration in January.

“My sense is that this will be about de-escalation, not about the big trade deal,” Treasury Secretary Scott Bessent told Fox News’ Laura Ingraham. “But we’ve got to de-escalate, before we can move forward.” As you know by now, the U.S. and China have been embroiled in a tit-for-tat tariff standoff since Trump announced an additional 34% tariff on Chinese imports and China responded with a 34% levy on all U.S. goods and restrictions on exports of critical minerals.

For the negotiations to yield substantial results, the U.S. must adopt “a proper attitude,” political commentator Ming Jinwei said in an editorial published on Guancha, a Chinese news site which often reflects perspectives aligned with Chinese state interests. Ming added that Treasury Secretary Bessent needs to reassess his understanding of China's strength. “He has repeatedly claimed that China needs the U.S., but the U.S. does not need China. This perception is both incorrect and arrogant,” he wrote.

The Papal Conclave

133 cardinal electors will gather today. They will be barred from leaving until they've selected the next pope.

Today, when 133 cardinals gather under Michelangelo’s frescos in the Sistine Chapel to choose a successor to Pope Francis, they will be looking above all for a holy man who can guide the Catholic Church. Beyond that, they will weigh his administrative and pastoral experience and consider what the church needs in 2025. Barred from leaving and with zero contact with the outside world, they must vote—and vote, and perhaps vote again—until they select the next leader of the world’s 1.4 billion Catholics.

According to NBC News, the conclave is unique, straddling the ley lines of religion, geopolitics, pop-culture and media speculation. When the choice is made, white smoke will billow from the Apostolic Palace, and the next pope will emerge onto the balcony to greet his flock. During the two weeks that followed the previous pope's death, the cardinals met almost daily at the Vatican for pre-conclave gatherings known as general congregations.

The BBC reports that it was during such meetings ahead of the last conclave of 2013, in a speech lasting less than four minutes, that Pope Francis (then known as Cardinal Jorge Bergoglio of Argentina) made an impact, talking of a need to connect with those in the far reaches of the Catholic world. There is no way of knowing at this stage whether this will be a long or a short conclave—but cardinals are aware that dragging the proceedings on could be interpreted as a sign of gaping disagreements. As they discuss, pray and vote, outside the boarded-up windows of the Sistine Chapel thousands of faithful will be looking up to the chimney to the right of St Peter's Basilica, waiting for the white plume of smoke to signal that the next pope has been elected.

Sprite Edges Out Pepsi

How the lemon-line soda became America’s No. 3 soft drink

It’s crisp and refreshing, so I can’t say I blame the masses that are chugging Sprite at such a rate that those green cans have now edged out Pepsi as America’s third most popular soft drink (after Coca-Cola and Dr Pepper). In terms of sales volume, Sprite controls 8.03% of the U.S. carbonated soft drink category, according to recently released 2024 figures from trade publication Beverage Digest. Pepsi, meanwhile, accounts for 7.97% of the market.

According to AdWeek, Sprite’s fizz to the highest echelons of the soda wars follows a year in which its owner, the Coca-Cola Company, has been shaking up its marketing strategy and investing more in the brand. In April last year, Sprite returned to its “Obey Your Thirst” tagline, originally launched in 1994 in a spot fronted by then-NBA star Grant Hill.

For Pepsi? Ouch … It’s a remarkable fall. Back in the 1980s, Pepsi nearly toppled Coke during the height of the “Cola Wars”. As recently as 2005, Dr Pepper’s and Sprite’s sales were each less than half of Pepsi’s. One in every nine sodas sold was a Pepsi. Dr Pepper was only the sixth most popular soda behind Sprite. But Pepsi hasn’t thrown in the towel, yet. Bosses say the numbers—which cover market share through 2024—don't fully capture its current momentum this year. “We’re focused on building the Pepsi brand, which includes options like Zero Sugar and flavor innovations like Wild Cherry,” a spokesperson told The Daily Mail.

Send Him Off Right

MR PORTER is your source for stylish, luxurious gifts

Give it your best shot.