Siemens Energy experienced a significant increase in its shares of up to 13% following the announcement of a change in leadership and an updated forecast for the year. The German renewables firm disclosed that the CEO of its wind turbine unit, Siemens Gamesa, would be stepping down by mutual agreement on July 31. Jochen Eickholt
Recent data shows that mortgage rates have been on a rollercoaster ride, with significant increases since the beginning of the year. However, there was a slight dip in rates last week after several weeks of consecutive hikes. This shift in rates has sparked new demand in the market, particularly for refinances. Factors Influencing Rates The
British neobank Monzo has recently announced that it has successfully raised an additional $190 million, bringing its total funding for this year to an impressive $610 million. The company revealed that it secured investments from new backers, including Hedosophia, known for supporting other prominent European fintech firms like N26 and Qonto. CapitalG, the independent growth
In a historic move, members of Britain’s prestigious Garrick Club have voted to allow women to become part of the institution for the first time in its 193-year history. This decision marks a significant milestone for the exclusive all-male club, which has long been criticized for its patriarchal traditions and lack of diversity. The vote,
New York City has established itself as the richest city in the world, boasting an impressive 359,500 millionaires and 60 billionaires. Over the past decade, the city’s millionaire population has seen a remarkable 48% surge, defying concerns of wealth flight and the impact of the Covid-19 pandemic. With a total wealth of over $3 trillion,
In the realm of mortgage options, the 30-year fixed-rate mortgage stands out as a uniquely American creation. This type of mortgage allows borrowers to spread out their repayment over three decades, with the interest rate staying constant throughout the life of the loan. As Greg McBride, chief financial analyst for Bankrate, points out, this stability
As the baby boomer generation ages, there is a significant shift in wealth underway. Liz Koehler, head of advisor engagement for BlackRock, states that baby boomers are projected to pass on over $68 trillion to their children as part of the “great wealth transfer.” However, recent reports indicate a growing disparity between the expectations of
With the rise of streaming services, Disney has been at the forefront of the industry. In the second quarter, Disney managed to nearly turn a profit in its streaming units for the first time, losing only $18 million between Disney+, Hulu, and ESPN+. This is a significant improvement from the $659 million loss the year
Stanley Druckenmiller, a renowned billionaire investor, recently made headlines by disclosing that he had significantly reduced his position in chipmaker Nvidia. This decision was based on his belief that the rapid growth of artificial intelligence (AI) in the market may have been overhyped in the short term. Druckenmiller highlighted that he made the decision to
Nintendo recently announced that they will be releasing a successor to their popular Switch console within the next fiscal year. This move comes as the company faces a predicted decline in profit due to slowing sales of the current Switch model. The decision to unveil a new console shows Nintendo’s commitment to staying relevant in