The Renaissance Center (complex of skyscrapers with the Chrevrolet sign) in city urban skyline by the Detroit River. Roberto Machado Noa | Lightrocket | Getty Images As cities around the country vie for the next WNBA team, the league quietly filed a trademark application this week for the name “Detroit Shock.” The filing, dated Thursday, […]
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. Europe’s richest person, Bernard Arnault, built his fortune on designer handbags and Champagne. His latest bet: security guards. Last week, Arnault’s
Billionaire family offices kick off 2025 with investments in AI, health care Read More »
After a year of declines, sales of watches and jewelry at luxury giant LVMH rebounded in the latest quarter and continued to shine into January, according to several of the company’s brand CEOs. In its earnings call this week, LVMH reported that sales for its watches and jewelry group increased 3%, after falling in the
LVMH watch and jewelry CEOs see luxury sales picking up in 2025 Read More »
A car carrier trailer waits in line next to the border wall before crossing to the United States at Otay commercial port in Tijuana, Baja California state, Mexico, on Jan. 22, 2025. Guillermo Arias | AFP | Getty Images DETROIT — As President Donald Trump’s threat to impose 25% tariffs on imports from Canada and
Implemented or not, Trump’s 25% tariff threat is challenging the auto industry Read More »
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston. Brian Snyder | Reuters The Food and Drug Administration on Thursday approved Vertex Pharmaceuticals’ non-opioid painkiller pill, a new alternative for pain relief that comes without the risk of addiction. Vertex is now the first drugmaker in decades to gain U.S.
Igor Golovniov | Lightrocket | Getty Images Cable giant Comcast is looking to the wireless business for growth. Comcast executives said Thursday the company will shift its focus to its mobile business after reporting a loss of 139,000 residential broadband customers during the fourth quarter. Broadband has long been the growth engine of the cable
Comcast shifts strategy to mobile as fourth-quarter broadband numbers disappoint Read More »
Robert F. Kennedy Jr., U.S. President Trump’s nominee to be secretary of Health and Human Services, testifies before a Senate Health, Education, Labor, and Pensions (HELP) Committee confirmation hearing on Capitol Hill in Washington, U.S., Jan. 30, 2025. Nathan Howard | Reuters Robert F. Kennedy Jr., President Donald Trump’s pick to lead the Department of
RFK Jr. stumbles over basics of Medicare, Medicaid during Senate confirmation hearings Read More »
Emergency response units search the crash site of the American Airlines plane on the Potomac River after the plane crashed on approach to Reagan National Airport on January 30, 2025 in Arlington, Virginia. Andrew Harnik | Getty Images Rescuers were still retrieving bodies out of the frigid Potomac River on Thursday morning, but the deadliest
Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors. The drop followed four straight months of gains and is the index was at its lowest level since August. These so-called pending sales are an indicator
Pending home sales drop sharply in December, as mortgage rates surge back over 7% Read More »
CEO of American Airlines Robert Isom addresses the media, after American Eagle flight 5342 collided with a Black Hawk helicopter while approaching Ronald Reagan Washington National Airport and crashed into Potomac River, in Washington on Jan. 30, 2025. Kevin Lamarque | Reuters American Airlines CEO Robert Isom said Thursday morning that the regional jet that
