Prasit photo | Moment | Getty Images The U.S. wealth management industry is poised to grow by about 5% annually over the next five years, while certain segments of the investor population are positioned to see the biggest boost, according to a new report from McKinsey & Company. Three investor sub-groups, in particular, are showing
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Circle, the firm behind the stablecoin USDC, has doubled its valuation to $9 billion following a new deal with blank-check company Concord Acquisition Corp. The two companies first revealed their plans to merge in July, in a deal that at the time valued Circle at just $4.5 billion. They have now updated the terms of
Getty Images Just months after a federal $15 minimum wage failed to take shape, Californians may get the chance to vote on even higher minimum hourly pay. A measure to raise the state’s minimum wage to $18 began to collect signatures in February. If the campaign, called the Living Wage Act of 2022, gets 700,000
The Trump International Hotel, Washington D.C. Janhvi Bhojwani | CNBC A House committee urged a federal agency Thursday to consider terminating the lease on a Washington, D.C., hotel held by former President Donald Trump and his business. The House Committee on Oversight and Reform cited accounting firm Mazars’ recent announcement that it is dropping the
In this article AIR-FR A model of one of Airbus’ ZEROe concept aircraft displayed in Hamburg, Germany, on 18 January 2022. Marcus Brandt/dpa | picture alliance | Getty Images Aviation could face substantial challenges if it’s unable to decarbonize in a timely manner, according to the CEO of Airbus, who added that hydrogen planes represent
In this article PLTR Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” Summit in Paris, France May 15, 2019. Charles Platiau | Reuters Shares of Palantir fell more than 13% on Thursday morning after the company reported mixed earnings results for the fourth quarter. Here are the key numbers: Earnings per share
In this article ARKK Cathie Wood of Ark Invest said Thursday the technology companies in her innovation-focused portfolio are drastically undervalued, and she believes that her fund’s recent sell-off is short-lived. “We’ve had a significant decline,” Wood said Thursday on CNBC’s “Halftime Report.” “We do believe innovation is in the bargain basement territory… Our technology
Escalating vaccine mandate protests near the Canada-U.S. border — known as the “Freedom Convoy” — have sent Canada into a state of emergency. They’re also affecting the price of a variety of goods for Americans. What started in January as a protest against new vaccine requirements for truckers crossing the border into Canada from the
A Blue Origin New Shepard rocket lifts off with a crew of six, including Laura Shepard Churchley, the daughter of the first American in space Alan Shepard, for whom the spacecraft is named, from Launch Site One in west Texas, U.S. December 11, 2021. Joe Skipper | Reuters WASHINGTON – Jeff Bezos’ space company Blue
The U.S. Department of Education in Washington, D.C. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images The U.S. Department of Education has announced it will cancel the student loans of nearly 16,000 borrowers who attended certain for-profit schools, including DeVry University. The relief comes out to $415 million in total. “The Department remains committed
Rohit Chopra, director of the Consumer Financial Protection Bureau. David Ryder/Bloomberg via Getty Images The Biden administration is trying to empower consumers to help rewrite the rules governing how banks, lenders and other financial institutions can treat customers. The Consumer Financial Protection Bureau — a federal agency created in the wake of the 2008 financial
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In this article ABNB More people are booking longer-term rental stays because of flexible working arrangements as a result of the pandemic, says Airbnb CEO Brian Chesky. “The pandemic has untethered millions of people from the need to be in office five days a week,” Chesky told CNBC’s “Squawk Box Asia” on Wednesday. “As people
In this article CSCO Cisco CEO Chuck Robbins Pradeep Gaur | Mint | Getty Images Cisco shares rose as much as 5% in extended trading on Wednesday after the enterprise software and hardware maker disclosed fiscal second-quarter earnings that surpassed analysts’ expectations. Here’s how the company did: Earnings: 84 cents per share, adjusted, vs. 81
In this article V AMZN Visa payment cards laid out on a computer keyboard. Matt Cardy | Getty Images Amazon has reached a global agreement with Visa to settle a dispute over the credit card giant’s fees. The deal means Amazon customers in the U.K. can continue using Visa credit cards, as previously announced by
More wineries in France are opening to visitors, said a French wine tourism expert. Of France’s 87,000 wineries, only 13% were open to the public five years ago, said Martin Lhuillier, head of wine tourism at Atout France, the country’s tourism development agency. Now, many more have opened their cellar doors for tours and
It’s been two months since families with eligible children stopped getting advance child tax credit payments in December. Many of those families are already struggling again to make ends meet. Nearly 60% of parents surveyed by ParentsTogether Action, an advocacy group, said that since the checks stopped, they haven’t been able to afford enough food.
Amanda Nguyen, founder of cake company Butter&, has had to raise prices after the costs of her ingredients skyrocketed. She also had to find ways to expand her business. Source: Andriya Rances Small business owner Amanda Nguyen thought she had gotten through the worst part of the Covid-19 pandemic. Then, inflation hit. As the owner
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In this article LOCO CMG Avocados are seen in a grocery market in New York, United States on February 14, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Avocados will likely be in short supply and more expensive in the coming weeks if the U.S. suspension of Mexican avocado imports persists. On Saturday, the