Christina Lewis, the daughter of Reginald Lewis, the founder of TLC Beatrice International, experienced a life-altering event at the tender age of 13. Her father’s sudden passing left her with not only a large fortune but also a myriad of unanswered questions. This pivotal moment marked the beginning of Lewis’s journey into the complex world
On Thursday, the CNBC Investing Club with Jim Cramer held its “Morning Meeting” livestream where they discussed key moments in the market. The day saw mixed performance in U.S. stocks, with the S&P 500 trading near record highs. The release of May’s producer price index data suggested that inflation pressures may be easing, while weekly
As Congress faces a critical decision on expiring tax breaks worth trillions of dollars, the debate over imposing higher taxes on corporations and wealthy Americans has taken center stage. Proponents of these tax hikes argue that they are crucial in addressing income inequality and reducing the federal budget deficit. Joseph Stiglitz, a professor of economics
The financial technology industry is experiencing a shift in perception, with industry insiders suggesting that the sector has hit a “bottom.” At the Money20/20 event in Amsterdam, executives and investors discussed how valuations have adjusted from unsustainable highs seen in the industry’s peak years of 2020 and 2021. Gone are the days of easy venture
Revolut, a prominent British financial technology firm, made waves in the industry with its recent announcement of relocating its official headquarters in London to Canary Wharf. The decision to move its global headquarters to the YY London building in the heart of Canary Wharf signifies a significant step for the company. By agreeing to a
Foundation Robotics Labs, a humanoid robotics startup, has been under scrutiny for making false claims and exaggerated statements regarding their relationship with General Motors (GM) and the status of their investments. The company has been seeking the last $1 million in funds for an $11 million seed round, with documents obtained by CNBC revealing that
Larry Ellison, the Chairman of Oracle, has seen a significant increase in his wealth recently. With Oracle forecasting double-digit revenue growth for the fiscal year, Ellison’s net worth has skyrocketed by almost $19 billion. This surge in wealth has positioned him as the fifth-richest person globally, and just behind Meta CEO Mark Zuckerberg. Ellison’s ownership
Broadcom, a leading chipmaker, reported its earnings for the second fiscal quarter on Wednesday, exceeding analysts’ estimates. In addition to this positive news, the company also announced a 10-for-1 stock split, which is scheduled to commence trading on a split-adjusted basis on July 15. As a result, the stock price surged by approximately 10% in
GameStop, a meme stock that has captured the attention of Wall Street and individual investors alike, faced a significant sell-off in its shares on Wednesday. This sell-off coincided with a surge in trading volume in call options owned by the infamous “Roaring Kitty”, whose real name is Keith Gill. Gill still holds 120,000 call options
The Federal Reserve recently announced its decision to keep its key interest rate unchanged, signaling that only one cut is expected before the end of the year. This decision came as a surprise to the markets, which were hoping for a more accommodative stance from the central bank. The Federal Open Market Committee (FOMC) policymakers,