You need a personal net worth of at least $1.4 million to be “financially comfortable” in the New York area, according to a survey of 500 local residents in the 2022 Charles Schwab’s Modern Wealth report. To be considered “wealthy” in New York, you need a net worth of $3.4 million — over one million …
You Need $1.4 Million to Be ‘Comfortable’ in New York: Survey Read More »
After more than two years of decreased traffic to dining, travel, and retail locations due to the pandemic, US consumers are back on the go — but at a slower pace than expected a few weeks ago. “Airfares are high, gas prices are high,” Morning Consult Travel & Hospitality Analyst Lindsey Roeschke told Yahoo Finance …
Travel spending slowing as consumers see ‘a no-win situation,’ analyst says Read More »
Since 1948 the US economy has never shrunk for two quarters in a row without a recession being declared, but an exception to the rule could happen soon. Gross domestic product, the official scorecard for the economy, is on track to contract in the recently ended second quarter. GDP also declined at a 1.6% annual …
The US won’t officially be in recession if GDP shrinks again — and here’s why Read More »
Wickremesinghe told lawmakers that negotiations with the International Monetary Fund (IMF) to revive the country’s “collapsed” economy are “difficult,” because the South Asian nation of 22 million has entered the talks as a bankrupt country, rather than a developing one. “We are now participating in the negotiations as a bankrupt country. Therefore, we have to …
Sri Lanka is ‘bankrupt,’ says Prime Minister Ranil Wickremesinghe Read More »
The recent tech rally may be doomed. Money manager Dan Suzuki of Richard Bernstein Advisors warns the market is far from bottoming — and it’s a concept investors fail to grasp, particularly when it comes to growth, technology and innovation names. “The two certainties in this world of uncertainty today are that profits growth is …
We’re having a heat wave, a tropical heat wave. Also a temperate heat wave and an Arctic heat wave, with temperatures reaching the high 80s in northern Norway. The megadrought in the Western United States has reduced Lake Mead to a small fraction of its former size, and it now threatens to become a “dead …
Opinion | Another Step Toward Climate Apocalypse Read More »
A Carter administration official is offering President Joe Biden a piece of advice to combat inflation: He should abandon what’s left of his economic agenda and focus on reining in the national debt instead to bring down rising prices. “Inflation fighting comes first,” W. Michael Blumenthal, a former treasury secretary for President Jimmy Carter in …
US Bank Wealth Management CIO Eric Freedman explains why he believes more people will return to the workforce within the next few months. US Bank Wealth Management CIO Eric Freedman argued on Tuesday that the jobs report, which will be released on Friday, will be a “big market mover.” Freedman explained on “Mornings with Maria” …
Upcoming jobs report will be ‘big market mover’: Investment expert Read More »
What do billionaires know about the economy, anyway? Some Democrats have a sneering tone toward the nation’s best entrepreneurs, as if they’re just trust-fund brats popping off on issues they know nothing about. President Biden, for instance, has found himself in a silly sniping contest with Amazon (AMZN) founder Jeff Bezos, who keeps dissing Biden’s …
Biden should chat with Bezos and his billionaire buddies Read More »
More than a decade on from his stint in Silicon Valley, Ron Johnson is still quick to recall his time at Apple and name-drop his famed mentor. “I have learned from many, but the most powerful lessons I learned came from working at Apple with Steve Jobs,” he said last year. “He taught me that …
How the man behind the Apple Store presided over a Spac catastrophe Read More »