A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide for the high-net-worth investor and consumer. Sign up to receive future issues, straight to your inbox.The United States has quickly overtaken China as the world's number one place for millionaires and billionaires, according to a new report. a More than 5.5 million Americans now have more than $1 million in investable liquid assets, up 62% over the past decade and well above the global growth rate of 38%, according to the 2024 American Wealth Report from Henley & Partners and New World.…
Author: ricardofrancois
Stay informed with free updatesSimply subscribe to Equities myFT Digest – delivered straight to your inbox.The FTSE 100 index closed at an all-time high on Friday, as stocks on both sides of the Atlantic headed for their best week of the year, buoyed by signs that major central banks are on track to cut interest rates.London's main stock index rose 0.6 percent to close at 7,930.92 points after Bank of England Governor Andrew Bailey told the Financial Times that markets were right to expect more than one cut in borrowing costs this year. The FTSE 100 had already risen 1.9…
Washington – The House approved a $1.2 trillion package of spending bills on Friday just hours before funding for some key federal agencies expires, a long-awaited measure nearly six months into a budget year that would push any threats of a government shutdown into bankruptcy. the fall.The bill was approved by a vote of 286 to 134, and now moves to the Senate, where leadership hopes for a final vote on it later Friday. More than 70% of the money will go to defense.House Speaker Mike Johnson (R-LA) introduced the bill under a streamlined process that requires two-thirds support for…
Check out the companies making headlines in midday trading. Nike – The athletic shoe brand fell nearly 8% after the company gave a weak full-year outlook and reported that sales in China had slowed. In its most recent quarter, Nike reported outperformance on both the top and bottom lines. Lululemon – The athleisure company fell 16% after posting weaker-than-expected guidance as demand slowed in North America. Separately, Lululemon beat earnings and revenue expectations for its fiscal fourth quarter. Reddit – Shares of the social media platform fell 2% a day after its initial public offering. On Thursday, Reddit soared 48%…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.This article is an on-site version of the Lex newsletter. Sign up here to get the full newsletter sent directly to your inbox every Wednesday and FridayDear reader,Before Jensen Huang took the stage at Nvidia's massive developer conference, commentators were calling the event the Woodstock of artificial intelligence. Huang clearly had something else on his mind. With flashing lights, references to Taylor Swift and friendship bracelets at the after party, this was the tour of the era for the Semiconductor crowd.The third…
Check out the companies making headlines before the bell. Nike – The stock fell 6.2% after the iconic sneaker brand reported slowing growth in China in the third quarter of fiscal 2024, despite reporting better-than-expected quarterly profits and revenue, helped by sales in North America and price changes. Lululemon — Shares fell nearly 13% after the athletic apparel retailer reported holiday earnings Thursday that beat expectations, but issued lower-than-expected guidance as the athletic apparel maker struggles with sluggish demand in North America. Reddit – The social media stock fell more than 4%, giving back a small portion of the gains…
Stubbornly high inflation could prompt the Federal Reserve to take a more cautious stance this year on interest rate cuts, the former central bank vice president said Friday.Richard Clarida, who served as Fed governor until January 2022 and is now a global economic adviser at asset management giant Pimco, said his former colleagues need to be wary of fixed rates that could thwart plans to ease monetary policy this year.At its meeting earlier this week, the rate-setting Federal Open Market Committee indicated it was likely to cut interest rates three times this year, assuming quarter-point intervals. Bank President Jerome Powell…
All-new Dodge Chargers are displayed on the lot at Hilltop Chrysler Jeep Dodge Ram on August 17, 2022 in Richmond, California.Justin Sullivan | Getty ImagesThe parent company of Chrysler and Dodge is recalling a total of 318,000 vehicles over airbag parts that could potentially break down and cause injuries.parents, StellantisHe said in documents posted on the National Highway Traffic Safety Administration's website that the side airbag inflators of the affected vehicles could explode and spew shrapnel into the vehicle.The recall affects Dodge Charger and Chrysler 300 vehicles from 2018 to 2021 models.Stellantis said she had not received any reports of…
You come home with a Tinder date, and things are escalating. You don't really know or trust this guy, and you don't want to get an STD, so… now what? A company called Calmara wants to take a photo of a man's penis, then use its AI to tell you whether your partner is “clear” or not. Let's make something clear right away: You shouldn't take a photo of someone's genitals and scan it with an AI tool to decide whether or not you should have sex. Kalmara's hypothesis has more red flags than a bad first date, but it…
A new Nike England-designed football shirt, complete with the controversial St George's Cross, is displayed on sale at a store in central London on March 22, 2024. Daniel Leal | AFP | Getty ImagesLONDON – British Prime Minister Rishi Sunak said on Friday Nike It was wrong to 'tamper with' the design of the flag on the England football team's new shirt, with the controversy that began on social media expanding into the political sphere.The newspaper “England Football” unveiled new kits created by the giant American sportswear company, on Monday, ahead of the Euro 2024 Championship this summer. It features…