The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, fueled by a surge in stock holdings. This marked a $2 trillion increase in their total net worth, with all gains coming from stocks. Corporate equities and mutual fund shares held by the top 1% saw a
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The Chinese smartphone company Xiaomi has made waves in the electric car market with the announcement of its first car, the SU7. Priced significantly lower than Tesla’s Model 3, the SU7 has garnered attention for its competitive price point of 215,900 yuan ($30,408) in China. Xiaomi CEO Lei Jun stated that the company will be
The latest report by Zumper reveals a notable uptick in rent prices for both one- and two-bedroom apartments in March. Specifically, the average monthly cost for a one-bedroom apartment in the U.S. saw a 0.3% increase to $1,487, while a typical two-bedroom apartment experienced a 0.5% rise to $1,847. Although prices surged on a national
Toyota Motor is currently in the process of evaluating an expansion of its U.S. truck lineup, with the possibility of introducing all-electric or plug-in hybrid electric versions of its popular Tacoma and Tundra pickups. The decision-making process is primarily driven by expected customer demand and the tightening federal emissions and fuel economy regulations. Jack Hollis,
Walgreens recently released its fiscal second-quarter report, showcasing a mixed bag of results. While the company reported sales that surpassed analyst expectations, it lowered the high end of its full-year adjusted earnings outlook. A challenging retail environment in the U.S. was cited as a key factor contributing to this adjustment. The sizable net loss incurred
A groundbreaking new company, iFi AI, is set to revolutionize the way individual traders approach investing by harnessing the power of artificial intelligence. Unlike traditional investment strategies, iFi AI will utilize AI models to generate projected returns for stocks over various time frames. This cutting-edge approach aims to provide traders with valuable insights to help
When considering the purchase of cryptocurrency, such as bitcoin, Katherine Dowling compares it to cayenne pepper – a little goes a long way. In a portfolio, cryptocurrencies should be treated as an alternative investment, alongside private equity, hedge funds, and venture capital. Allocating a small percentage, around 2% to 3%, of an investment portfolio to
Winning the $1.128 billion Mega Millions jackpot is a dream come true for many, but the excitement might be short-lived once the taxman comes knocking. Experts warn that the winner will face significant tax implications, regardless of whether they choose the annuitized prize or the lump-sum payout. Before the lucky winner receives a penny of
The exorbitant prices of blockbuster drugs like Ozempic, used for diabetes treatment, have been a point of contention across the pharmaceutical industry. A recent study conducted by researchers at Yale University, King’s College Hospital in London, and Doctors Without Borders has shed light on the manufacturing cost of Ozempic, suggesting that it could be produced
Mumbai has emerged as the Asian capital with the highest number of billionaires, surpassing Beijing and Shanghai, according to the latest Hurun Research Institute global rich list. This marks a significant shift in the balance of wealth in Asia, with Mumbai now boasting 92 billionaires, putting it ahead of other major Asian cities. The global
