A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The typical family office costs more than $3 million a year to operate, as competition for talent drives up staffing expenses, according to … Read more
People walk through the newly opened Grand Central Madison train terminal in Manhattan on February 27, 2023 in New York City. Spencer Platt | Getty Images The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain … Read more
(WJET/WFXP) — Rue21, a teen apparel company headquartered in Warrendale, Pennsylvania, filed for Chapter 11 bankruptcy Thursday. According to the filing, the company is planning to close all stores while conducting large-scale “going out of business” sales. All 543 stores are expected to be closed within the next two months. Along with the closure of … Read more
Mumbai: In a move that will ease the prevailing tight liquidity conditions in the banking system, the Reserve Bank of India on Friday said the Centre plans to buy back Rs 40,000 crore worth of government securities on May 9, the first such repurchase since 2018. The unexpected move is also seen bringing down yields … Read more
Fulfilling the world’s surging demand for AI chatbots and image generators depends on mundane components as much as glitzy GPUs. Server cabinets, heavy-duty metal enclosures to store GPU systems, have at times been a crucial bottleneck. As it scrambled to build up its facilities, CoreWeave once ordered 1,400 of the wrong cabinets. It was a … Read more
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Berkshire Hathaway, led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third quarter of last year. The identity of the stock — or stocks — that … Read more
The board of leading exchange NSE on Friday approved a bonus issue in the proportion of 4-to-1 through the capitalisation of reserves. Under the proposed bonus issue, investors of the unlisted company will get four shares for every share they hold as on the record date. The proposed bonus issue needs to be approved by … Read more
Adam Neumann’s bid to buy back WeWork essentially ended this week. A bankruptcy court on Monday approved a deal that gets WeWork out of debt. It could conclude its restructuring and leave bankruptcy by late May following a vote on the deal, thanks to $450 million in financing provided largely by WeWork creditor and real … Read more
Pavlo Gonchar | Lightrocket | Getty Images Amgen‘s stock rose more than 12% on Friday after the drugmaker teased positive initial data on its experimental weight loss injection. That fueled investor concerns about new competition in the rapidly growing weight loss drug industry, sending shares of the current obesity players, Novo Nordisk and Eli Lilly, … Read more
WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring gain was down sharply from the blockbuster increase of … Read more
