The global population of individuals worth $30 million or more, known as ultra-high-net worth (UHNW) individuals, saw an 8% increase in 2023. According to Altrata’s World Ultra Wealth Report 2024, there are now 426,330 UHNW individuals worldwide. Their collective wealth surged by 7% to a staggering $49 trillion, driven primarily by a year-end stock rally.
The case of Michelle Mack, a California woman accused of leading a nationwide organized retail crime operation, has garnered national attention. Mack and her husband, Kenneth, were recently sentenced to more than five years in prison for their involvement in stealing millions of dollars worth of merchandise from major retailers such as Ulta Beauty and
The Consumer Financial Protection Bureau (CFPB) has recently targeted so-called paycheck advance programs, also known as earned wage access, which have become increasingly popular among workers in recent years. These programs allow individuals to access their paychecks before the designated payday, often levying a fee for this service. The CFPB’s proposed interpretive rule suggests that
In response to increasing trade tensions, top Chinese officials have emphasized the country’s dedication to focusing on its own affairs. Deputy Director Han Wenxiu highlighted the importance of ensuring the stable and healthy development of the real estate market, accelerating the growth of emerging industries, and expanding domestic demand, particularly in consumption. This emphasis on
Recently, a federal appeals court issued an order temporarily halting the implementation of President Biden’s new student loan repayment plan known as SAVE. The Department of Education has acknowledged the ruling and is currently assessing its impacts. They have assured borrowers that they will be in direct communication with any individuals affected by this decision.
Penn Entertainment has recently announced plans to lay off approximately 100 employees in order to focus on growth for ESPN Bet. This decision was communicated by CEO Jay Snowden in an internal email to staff members. The move is aimed at enhancing operational efficiencies following the company’s acquisition of theScore, a Canadian media and gaming
Ken Griffin, the billionaire investor, made headlines when he acquired a late Jurassic stegosaurus skeleton for a whopping $44.6 million at Sotheby’s auction, making it the most expensive fossil ever sold in an auction setting. The stegosaurus, named “Apex”, is an impressive 150 million years old, standing at 11 feet tall and stretching nearly 27
In the year 2022, President Joe Biden signed the Inflation Reduction Act, which not only had significant rules related to consumer tax breaks for electric vehicles but also included a $7,500 federal EV tax credit that could be accessed by consumers through leasing a car. This tax credit, known as the “qualified commercial clean vehicles”
Ford Motor recently announced a major shift in its production plans, opting to expand the production of its large Super Duty trucks at a Canadian plant that was initially earmarked for conversion into an all-electric vehicle hub. This decision involves a significant investment of approximately $3 billion, with $2.3 billion allocated to the Oakville Assembly
Volvo Cars experienced a significant surge in its annual operating profit for the second quarter, causing shares to rise by 7.11% by 9:04 a.m. London time. The core operating profit for the quarter reached 8.2 billion Swedish kronor, marking a 28% increase compared to the same quarter the previous year. This record figure for an