The landscape of philanthropy is rapidly changing, with donations to charity on the rise but the pool of donors shrinking. A recent study by Altrata revealed that ultra-high-net-worth individuals, those worth $30 million or more, now contribute 38% of all individual giving worldwide. This means that a mere 400,000 people are responsible for over a
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Despite facing headwinds in the past year due to a slump in traditional economic sectors such as real estate, infrastructure, and exports, the Chinese economy is undergoing a major transition. This transition aims to modernize the economy and enhance its global competitiveness. HSBC’s Chief Financial Officer, Georges Elhedery, believes that while there may be short-term
Dick’s Sporting Goods recently announced a 10% increase in its dividend as the company achieved its largest sales quarter ever and projected continued growth for the upcoming year. Despite the benefit of an additional week in fiscal 2023, the retailer managed to break records during its fourth quarter. The company’s earnings per share of $3.85
SpaceX recently launched the third test flight of its Starship rocket, marking a significant milestone in the development of this mammoth vehicle. The company, led by Elon Musk, aims to push the boundaries of space exploration with this ambitious project. The rocket took off from the Starbase facility near Boca Chica, Texas, and reached space,
As President Joe Biden and former President Donald Trump have both secured enough delegates to clinch their party nominations, policy experts are now examining how proposed tariffs could potentially affect American consumers. While the Trump campaign has not released many tax policy specifics, Trump has reiterated his support for tariffs, which are essentially taxes imposed
In a society driven by social media, overwhelming evidence suggests that platforms such as Instagram and Facebook have a detrimental impact on individuals’ self-esteem, particularly in relation to their financial wellbeing. A recent study by Credit Karma has introduced the term “money dysmorphia” to describe the distorted view that nearly one-third of Americans now have
In the past week, there has been a slight decrease in mortgage rates, resulting in a noticeable increase in mortgage demand for the second consecutive week. The Mortgage Bankers Association reported a 7.1% rise in total application volume compared to the previous week. Specifically, the average contract interest rate for 30-year fixed-rate mortgages saw a
The recent announcement of Petco’s CEO, Ron Coughlin, stepping down and being replaced by R. Michael Mohan as the interim chief executive has raised eyebrows in the industry. While Coughlin expressed pride in his work over the last five years, highlighting the company’s growth and change during his tenure, the sudden change in leadership indicates
Adidas, the German sportswear brand, recently warned of a sales decline in its overstocked North American market in 2024. The company is currently selling off its remaining Yeezy inventory, which has been a significant source of revenue in the past. Currency-neutral sales in North America are expected to decline at a mid-single-digit rate in 2024.
The recent crisis at Boeing has caused major turbulence for some of its biggest customers in the airline industry. The CEOs of various airlines have expressed concerns about the impact of Boeing’s ongoing quality control issues on their growth plans for this year and possibly beyond. With snowballing problems ranging from quality control issues to