In a recent report by Bank of America, it was revealed that almost half of Gen Zers, between the ages of 18 and 27, rely on financial assistance from their parents. This indicates a significant trend among young adults who are struggling to keep up with the high cost of living. The report highlighted that
Longtime investor Bill Gross has expressed concerns about Elon Musk’s Tesla, stating that the company is exhibiting characteristics of a speculative play among retail investors. He compared Tesla to meme stocks, highlighting sagging fundamentals and a sharp increase in price action. Despite these concerns, Tesla has been on an impressive 10-day winning streak, experiencing a
Walmart recently announced plans to open five automated distribution centers for fresh food in an effort to enhance efficiency and improve its online grocery business, as reported by CNBC. The retail giant’s decision to invest in these new facilities highlights its commitment to keeping up with the evolving needs of consumers who are increasingly opting
The 2024 Global Wealth Report from UBS predicts a continuous rise in the number of global millionaires over the next five years. The report indicates that the number of adults owning $1 million or more is expected to increase in 52 out of 56 developed and developing economies surveyed between 2023 and 2028. Leading this
China’s consumer price inflation saw a mere 0.2% rise in June compared to the previous year, falling short of expectations. According to data released by the National Bureau of Statistics, the consumer price index was anticipated to increase by 0.4% year-on-year. These figures indicate a slower than expected pace of inflation in the Chinese economy.
Inflation appears to be slowing down, which may seem like good news at first glance. It indicates that the economy is growing while the rate of price growth is decreasing. However, the reality is that prices remain high and are likely to stay that way for the foreseeable future. Mark Hamrick, a senior economic analyst
Roth individual retirement account conversions are a popular method to minimize taxes on pretax 401(k) or IRA withdrawals. A Roth conversion ladder involves transferring pretax or nondeductible IRA funds to a Roth IRA for tax-free growth. This strategy allows you to spread out the tax liability over multiple years, enabling you to pay taxes in
In today’s housing market, potential home buyers are experiencing a significant shortage of available homes for sale, despite a slight increase in inventory. The supply of newly built homes seems to be disproportionately high compared to existing homes, which is a perplexing trend. Generally, a surplus of homes would lead to lower prices, but in
Athletic Brewing Company, a leading nonalcoholic brewer, recently announced a significant milestone in its journey. The company has secured an additional $50 million in equity financing in a round led by General Atlantic. This new capital injection will fuel the company’s ambitions to increase production capacity and expand its offerings in global retailers to cater
BP, a leading energy firm, issued a warning about an expected impairment of up to $2 billion in the second quarter. This news caused a sharp decline in BP’s shares, with a 2.6% drop in early market trading. The impairment is primarily attributed to weak refining margins and lower oil trading performance. BP anticipates that