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☆ His wife died. Then he unexpectedly found a second chance at love on vacation
▼ + stars: | 2024-06-28 | by ( Francesca Street | ) edition.cnn.com time to read: +14 min

“This was no normal train,” John recalls. Back home in the UK, John thought about Judy fondly from time to time. In the UK, John’s friends loved it when this glamorous American woman visited town. John Nears and Judy CurtisAs John and Judy haven’t been able to meet this year, they’ve both been spending time reflecting on past adventures. Thinking back on his life, John says he feels inordinately lucky to have enjoyed two great love stories.

Persons: John’s, Pam, “, ” John, John, Chris, marveling, Judy Curtis, Judy Malody, Judy, they’d, John –, ”, –, “ I’d, Coast –, Judy Curtis Judy, John she’d, she’d, ‘, ’ ”, Jack, She’d, “ Judy, Judy Curtis John, Madeira’s, who’d, Peru –, “ John, It’s, Judy doesn’t, he’s, “ We’ve, ’ John, Judy Curtis It’s, Cunard Queen Mary, she’s, “ It’s, Judy haven’t, they’ve, ” John’s, you’ve, who’ve, Pam’s Organizations: CNN, CNN Travel, Orient Express, Coast, San Diego International, San Diego, ”, “, Health Locations: South America, England, Bolivia, Peru –, Cusco, Puno, “, Peru, San Diego , California, New York, California, West Coast, United States, East Coast, San Diego, Madeira, Funchal, Istanbul, Turkey, British, ”, Antarctica, Yosmite , California, Iceland, Kenya, Tanzania

☆ Delhi, India airport: Terminal 1 roof collapse kills one, injures others
▼ + stars: | 2024-06-28 | by ( Rhea Mogul | Aishwarya S. Iyer | ) edition.cnn.com time to read: +2 min

Delhi Fire Services assistant divisional officer Ravinder Singh said rescuers got to the scene to find two support pillars had collapsed over a car. Photos of the scene released by the fire service showed the large white canopy of the roof had plunged to the ground, crushing several cars. India’s minister of Civil Aviation, Ram Mohan Naidu Kinjarapu, said he was “personally monitoring” the collapse in a statement on X. Parts of the capital territory of Delhi experienced heavy rainfall this week, flooding roads and submerging cars. Earlier this month, at least nine people were killed and dozens of others injured after a cargo train collided with a passenger train in eastern India.

Persons: Ravinder Singh, ” Singh, “, ”, Ram Mohan Naidu Kinjarapu Organizations: New, New Delhi CNN, Indira Gandhi International, Delhi Fire Services, CNN, Civil Aviation Locations: New Delhi, New Delhi’s, Delhi, India, Morbi, Gujarat

☆ Sha’Carri Richardson makes statement with blistering 200m at US Olympic trials
▼ + stars: | 2024-06-28 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Sha’Carri Richardson became the second-fastest women’s 200-meter runner in the world this year as she cruised to victory in her heat at the US Olympic Trials. Long ran the fifth-fastest time in Thursday’s heats, behind Gabby Thomas – the 200m bronze medalist at the Tokyo Olympics – NCAA record holder Abby Steiner, and 2019 world championship silver medalist Brittany Brown. “Any time I touch the track, there’s an opportunity for me to work on being my best self,” Richardson told NBC after her heat. The 24-year-old ran the fastest 100m time in the world this year with her victory at the trials on Saturday, finishing in 10.71 seconds. In the men’s event, Tokyo silver medalist Rai Benjamin comfortably won his heat, while Caleb Dean set the fastest time of the day with 49.45.

Persons: CNN — Sha’Carri Richardson, compatriot Mckenzie Long, Long, Gabby Thomas –, Abby Steiner, Brittany Brown, ” Richardson, “ I’m, Richardson, Noah Lyles, Lyles, Sydney McLaughlin, Levrone, Anna Cockrell, Rai Benjamin, Caleb Dean Organizations: CNN, US, Paris Olympics, NCAA, Tokyo Olympics, Eugene’s Hayward, NBC, Tokyo Locations: Tokyo, Erriyon

☆ France's far right looks headed for victory in the first round at the polls. Here's what that means
▼ + stars: | 2024-06-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Nurphoto | Getty ImagesWith just days to go until France's snap parliamentary election kicks off, victory for the far right looks increasingly likely in the first phase of the two-stage runoff. But predicting the outcome of France's final vote on July 7 is less clear-cut, given the complexity of France's voting system. Voter turnout for the national election is also expected to be larger — and therefore more representative — than the 51% who cast their ballot in the EU vote. With that in mind, analysts see a 30% to 40% chance of the National Rally winning the 289 seats needed to secure an absolute majority in the 577-seat National Assembly. A majority government for either the far-right or the ultraleft alliance, meanwhile, could spark a far more dramatic outcome.

Persons: Jordan Bardella, Emmanuel Macron's, Schmieding, — Organizations: National, Palais des Sports, Nurphoto, Elabe, CNBC, Macron, National Rally, National Assembly, Berenberg Bank, Citi Locations: French, Le, Paris, France

☆ 'Forget about Florida' and 6 other key pieces of real estate advice from Barbara Corcoran
▼ + stars: | 2024-06-28 | by ( Celia Fernandez | ) www.cnbc.com time to read: +6 min

Barbara Corcoran has been in the real estate industry for over 40 years. Barbara Corcoran has made quite a name for herself with more than 50 years in the real estate business. Over the years, Corcoran has shared key pieces of real estate advice on various topics, including the best places to buy a home, why young people should invest in real estate early, and more. Finally, "you want to make sure you make the key improvements in your kitchen," Corcoran said. "Ask them if they have any special discounts for good customers who have been banking with them for a while," Corcoran recommends.

Persons: Barbara Corcoran, Corcoran, Elvis Duran, There's, there's, Young, it's Organizations: Sunshine State, CNBC Locations: Florida, U.S, …, New York

☆ Wall Street praises Eaton's AI bona fides. But don't overlook our other data center play
▼ + stars: | 2024-06-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer described the PCE report as "very good," representing an encouraging sign that the central bank's fight against inflation has been working. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Donald Trump's, Friday's, there's, Raymond James, Eaton, Jim Cramer's, DOV, ETN Organizations: CNBC, Federal Reserve, Nasdaq, Dow, Apple, Vision, Nvidia Locations: China, Hong Kong, Japan, U.S, Dover

☆ Scientists inject rhinos with radioactive material in attempt to curb poaching
▼ + stars: | 2024-06-28 | by ( Story The Associated Press | ) edition.cnn.com time to read: +3 min

Mokopane, South Africa AP —Researchers in South Africa have injected radioactive material into the horns of 20 rhinos as part of a research project aimed at reducing poaching. This week, researchers at the University of the Witwatersrand ‘s Radiation and Health Physics Unit in South Africa injected 20 live rhinos with these isotopes. It now stands at around 27,000 due to continued demand for rhino horns on the black market. South Africa has the largest population of rhinos, an estimated 16,000, making it a hotspot with more than 500 rhinos killed every year. Denis Farrell/APThe country experienced a significant decline in rhino poaching around 2020 at the height of the Covid-19 pandemic, but the numbers increased when virus lockdown restrictions were eased.

Persons: ”, James Larkin, Denis Farrell, “ We’ve, they’ve, Larkin, “, Pelham Jones, Nithaya Chetty Organizations: South Africa AP —, University of, Witwatersrand, Unit, International Union for Conservation of Nature, Rhino Owners Association Locations: South Africa

☆ France's election has the ability to rock wider European stocks, Citi strategist says
▼ + stars: | 2024-06-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

France's parliamentary election has already rattled investors as the country's risk premium rises — but two possible scenarios have still not been priced in by markets and could impact stocks in the wider European region, according to Citi. "However, the market is not priced in for far-right or far-left majority," Manthey said. "The outcome is still quite unclear, we only have polling for the first round of the election. "Let's put the announcement of the election in the context of the positioning of the investors. If the French election outcome "is very market unfriendly ... markets in Europe are quite correlated.

Persons: Beata Manthey, CNBC's, Manthey, Emmanuel Macron's, Let's, we've Organizations: Citi, CAC Locations: Sunday's, Europe, U.S

Former President Donald Trump is the clear favorite when it comes to the stock market, according to the latest results of CNBC's Delivering Alpha Stock Survey. Of the 400 investors, traders and money managers polled, 67% said Trump would be better for stocks than President Joe Biden. The S&P 500 rose 68% during Trump's four years in office versus the 44% gain so far under Biden's administration. Seventy-seven percent of the survey respondents said they trusted the central bank to do right by the American economy, but 23% said they didn't trust the Fed. The 400 money managers who took the survey were evenly split on where they stand on the direction of the S&P 500 and Nasdaq.

Persons: Donald Trump, Trump, Joe Biden, there'll, we're Organizations: Alpha Stock Survey, Nasdaq, Biden, Federal Reserve

A solar stock and an apparel giant were among the names being talked about by analysts on Friday. Meanwhile, Deutsche Bank increased its price target on First Solar. NKE 1D mountain NKE falls Stifel downgraded Nike stock following results to hold from buy and reduced their price target to $88 per share from $117. — Brian Evans 5:47 a.m.: Deutsche Bank raises First Solar price target First Solar shares have been on a tear this quarter, and Deutsche Bank expects even more gains ahead. The bank reiterated its buy rating on the solar stock and raised its price target to $280 from $215.

Persons: Richard Choe, Choe, — Brian Evans, Morgan Stanley, Lee Simpson, Simpson, Wells, Ike Boruchow, Jim Duffy, Jay Sole, Corinne Blanchard, Fred Imbert Organizations: CNBC, Nike, Deutsche Bank, JPMorgan, Realty Trust JPMorgan, Digital Realty, Management, Realty Trust, 1Q, UBS Locations: China, Thursday's

☆ Microsoft AI CEO explains why the economics of information are about to 'radically change'
▼ + stars: | 2024-06-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

AI will cut the marginal costs of producing information, Microsoft AI CEO Mustafa Suleyman says. AdvertisementIf the internet dramatically cut the costs of producing information, AI is bound to eliminate them. That's according to Mustafa Suleyman, the CEO of Microsoft AI. "The economics of information are about to radically change," Suleyman said in an interview with journalist Andrew Ross Sorkin at the Aspen Ideas Festival this week. "In 15 or 20 years' time, we will be producing new scientific, cultural knowledge at almost zero marginal cost."

Persons: Mustafa Suleyman, Suleyman, —, Andrew Ross Sorkin Organizations: Microsoft, Service, Aspen Ideas

☆ SoftBank shares rise on $1.86 billion debt offering as CEO talks up 'super' AI
▼ + stars: | 2024-06-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company's annual general meeting in Tokyo, Japan, on Friday, June 20, 2024. SoftBank on Friday announced plans to issue euro and dollar-denominated bonds as it looks to pay down debt and focus its investments on artificial intelligence. The huge Japanese holding company said it will issue around $900 million in U.S. dollar-denominated bonds in two tranches, and 900 million euros ($962.8 million) worth of bonds, also in two tranches. SoftBank said the money raised will be used for "repayment of indebtedness and for general corporate purposes." Its shares closed up 2.5% after news of the bond issuance.

Persons: Son, SoftBank Organizations: SoftBank Group Corp, . Locations: Tokyo, Japan

☆ There is one European country where Taylor Swift didn't change the economy so far
▼ + stars: | 2024-06-28 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTaylor Swift's Eras Tour has made it to five European countries so far. Portugal, Spain, and Sweden's hotel prices in May increased several times' their 2021-2023 average. The Eras tour has had a massive economic impact on other countries. In Chicago, Eras tour dates led to 96.8% hotel room occupancy, an all-time high for the city, per the BMI report.

Persons: —, Swift, QuestionPro, concertgoers, Taylor Swift's, Ben Julius Organizations: Service, BMI, Fitch Solutions, Business, Philadelphia Federal Reserve, MBI, Tourist Italy Locations: France, Portugal, Spain, Paris, Lyon, Netherlands, Ireland, Austria, Switzerland, Chicago, Italy, Milan

☆ Microsoft and Eli Lilly are among the most overbought stocks as the first half ends
▼ + stars: | 2024-06-28 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Shares of Microsoft registered a 14-day RSI reading of 74. MSFT YTD mountain MSFT YTD Shares of Eli Lilly are also overbought, with a 14-day RSI of 83, putting the drug manufacturer at the top of the list. FedEx is also overbought, with a 14-day RSI of 77. Among the oversold names, Walgreens Boots Alliance and Waters Corporation top the list with a 14-day RSI reading of 20, followed by Pool Corp . with an RSI reading of 22.

Persons: Friday's, Wall, Eli Lilly, Eli Lilly's Organizations: Dow Jones, Nasdaq, Nvidia, Microsoft, CNBC Pro, Union, FedEx, Walgreens Boots Alliance, Waters Corporation, Pool Corp, Walgreens

☆ Judge will consider $6 billion legal fees for lawyers who voided Elon Musk's multibillion pay package
▼ + stars: | 2024-06-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Delaware judge still wants to consider a $6-billion request in legal fees from lawyers who shot down Elon Musk's multibillion-dollar pay package at Tesla regardless of the recent shareholder vote, court documents show. In January, Chancellor Kathleen McCormick of the Delaware Chancery Court ruled against Elon Musk's pay package that would've awarded the Tesla CEO more than $55 billion in stock at the time. With the outcome, lawyers representing Richard Tornetta, the Tesla shareholder who objected to the compensation plan, argued that they provided a valuable service in getting Musk's package rescinded. But Musk received some good news in June after shareholders voted to re-approve the CEO's pay package and maintain the current board structure with Kimbal and James Murdoch. Chancellor McCormick will have to decide on the fate of the package and whether the plaintiff's attorneys do deserve about $6 billion in legal fees.

Persons: —, Elon Musk's, Kathleen McCormick, McCormick, Richard Tornetta, Musk, James Murdoch, doesn't, Chancellor McCormick, James, Park Organizations: Service, Elon, Business, University of California, Tesla Locations: Delaware, Los Angeles

☆ Who Won the First Presidential Debate? - The New York Times
▼ + stars: | 2024-06-28 | by ( New York Times Opinion | ) www.nytimes.com time to read: +1 min

Times Opinion asked 12 of our columnists and contributors to watch the presidential debate on Thursday night, assess who won and who lost and distill what stood out to them. Who won and whyJosh Barro Joe Biden failed at his key task: showing voters he’s still cut out for the presidency. In the first 20 minutes he was especially disastrous: mumbling, at times incoherent, and seeming really, really old. David French Trump won, but not because of Trump. Biden lost this debate for a simple reason: He acted his age in a way that can’t be spun and can’t be explained away.

Persons: Josh Barro Joe Biden, Trump, Jamelle, Biden, Donald Trump, David French Trump

☆ Stock market today: Indexes rise as traders cheer cooler PCE inflation
▼ + stars: | 2024-06-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks rose Friday as traders took in new inflation data from the Fed's preferred price gauge. PCE inflation cooled to 2.6% last month, the lowest pace of price growth in three years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks jumped on Friday as traders took in fresh inflation data, which showed price pressures continuing to cool off in May. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:AdvertisementIn commodities, bonds, and crypto:

Persons: —, Seema Shah Organizations: Service, Treasury, Federal, Asset Management, Nasdaq, Nvidia Locations: PCE, Here's

☆ She Needed an Emergency Abortion. Doctors in Idaho Put Her on a Plane.
▼ + stars: | 2024-06-28 | by ( Kate Zernike | ) www.nytimes.com time to read: +1 min

Nicole Miller had gone to the emergency room in Boise, Idaho, after waking up with heavy bleeding in her 20th week of pregnancy. By afternoon, she was still leaking amniotic fluid and hemorrhaging and, now in a panic, struggling to understand why the doctor was telling her that she needed to leave the state to be treated. “If I need saving, you’re not going to help me?” she recalls asking. “I just need to stay alive so I can be around for my two other kids,” nurses reported her saying as she arrived at the hospital in Salt Lake City, 14 hours after she had arrived in the emergency room back home. Only when she woke up the next morning did she understand, because a nurse told her, that she was airlifted so she could have an abortion.

Persons: Nicole Miller, you’re, ”, Miller, “ Organizations: Boise Medical Locations: Boise , Idaho, St, Boise, Utah, Salt Lake City

☆ Skip Nvidia? Value investor David Katz is betting on 4 'lower risk' stocks instead
▼ + stars: | 2024-06-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"There are better places to make money with a lot lower risk," he added, naming several stocks he likes right now. "Right now, technology stocks are selling at 30 and 40 times earnings. The markets are at 22 times earnings. Trading at 22 times forward earnings, he said the stock offers "a great business at a very good price." The market is 21 times earnings.

Persons: David Katz, CNBC's, Katz, We're, — CNBC's Amelia Lucas Organizations: Nvidia, Cisco Systems Technology, Cisco Systems, Cisco, Starbucks, Bank of New York Mellon, PNC Financial Services Locations: U.S, Israel

☆ JPMorgan and Morgan Stanley boost buybacks and dividends, while Citigroup and BofA take smaller steps
▼ + stars: | 2024-06-28 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

JPMorgan Chase and Morgan Stanley said Friday that they were boosting both dividend payouts and share repurchases, while rivals Citigroup and Bank of America made more modest announcements. JPMorgan, the biggest U.S. bank by assets, said it was raising its quarterly dividend 8.7% to $1.25 per share and that it authorized a new $30 billion share repurchase program. Morgan Stanley, a dominant player in wealth management, said it was boosting its dividend 8.8% to 92.5 cents per share and authorized a $20 billion repurchase plan. Citigroup said it was raising its dividend 5.7% to 56 cents per share and that it would "continue to assess share repurchases" on a quarterly basis. Bank of America said it was increasing its dividend 8% to 26 cents per share.

Persons: Brian Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Morgan Stanley, Dimon Organizations: Bank of America, JPMorgan, Citigroup, Washington , D.C, Federal Reserve Locations: Hart, Washington ,, New York

☆ Zombies beware, Cillian Murphy is back for '28 Years Later.' Here's everything we know about the sequel.
▼ + stars: | 2024-06-28 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +4 min

Read preview"Oppenheimer" star Cillian Murphy has reunited with director Danny Boyle for the long-awaited horror sequel "28 Years Later," two decades after his breakout role in "28 Days Later." In the original film, Murphy played Jim, a bicycle courier who wakes up from a coma to find that the UK has been hit by the "Rage" virus, which turns people into zombies. While Boyle produced the 2007 sequel, "28 Weeks Later," the Juan Carlos Fresnadillo-directed film focused more on gory action, than the suspense-driven horror of the original. Related storiesIn January 2024, The Hollywood Reporter confirmed that "28 Years Later" is in the works by Boyle and "28 Days Later" writer Alex Garland. In May, Sony Motion Pictures Group chairman Tom Rothman confirmed to Deadline that the "Oppenheimer" star will reprise his role as Jim in "28 Years Later."

Persons: —, Oppenheimer, Cillian Murphy, Danny Boyle, Murphy, Jim, Boyle, Juan Carlos Fresnadillo, Alex Garland, Jodie Comer, Aaron Taylor, Johnson Jodie Comer, Johnson, Guy, Steve Granitz, Gareth Cattermole, I've, Alex, Danny, I'm, we'll, Tom Rothman, Rothman, Jack O'Connell, Ralph Fiennes, Erin Kellyman, Comer, Anthony Dod Mantle, It's Danny, he's, Nia DaCosta, Karwai Tang, Garland Organizations: Service, Business, Office, Hollywood Reporter, Angeles, Sony Motion Pictures, United States Copyright Office Locations: Britain, British, London

President Joe Biden delivers remarks during the CNN Presidential Debate at the CNN Studios on June 27, 2024 in Atlanta, Georgia. Many of the Democratic Party's top fundraisers are privately sounding the alarm after President Joe Biden's disappointing debate performance Thursday against Republican former President Donald Trump. CNBC began hearing from worried Democratic campaign donors and fundraisers less than 20 minutes into the 90-minute debate hosted by CNN. "Game over," said a longtime Democratic campaign advisor, who has been raising money for congressional leaders for over a decade and helped raise money for Biden's 2020 White House bid. Biden's campaign co-chair Mitch Landrieu told NBC News this was because the president had a cold.

Persons: Joe Biden, Joe Biden's, Donald Trump, Biden, Biden's, He's, doesn't, Jaime Harrison, Ronald, Reagan, George W, Bush, Barack, Obama, I've, we've, Jack Tapper, Tapper, Mitch Landrieu, Landrieu, Kamala Harris, Trump, Kate Bedingfield Organizations: CNN, CNN Studios, Democratic, Republican, CNBC, Democratic National, NBC News, Patrol, Democratic National Convention, White House Locations: Atlanta , Georgia

☆ Supreme Court rules for Jan. 6 rioter challenging obstruction charge
▼ + stars: | 2024-06-28 | by ( Lawrence Hurley | Ryan J. Reilly | ) www.cnbc.com time to read: +2 min

WASHINGTON — The Supreme Court on Friday ruled in favor of a former police officer who is seeking to throw out an obstruction charge for joining the Capitol riot on Jan. 6, 2021, in a ruling that could benefit former President Donald Trump. Prosecutors in Trump's case said that even if Fischer wins, Trump's conduct would still be covered by a narrower interpretation of the statute. Fischer faces seven criminal charges, only one of which was the focus of the Supreme Court case. Even if the obstruction charge is ultimately dismissed, the other charges, including assaulting a police officer and entering a restricted building, will remain in place. In his election interference case, Trump faces four charges, including one count of obstructing an official proceeding and another of conspiracy to do so.

Persons: Micki Witthoeft, Ashli Babbitt, WASHINGTON —, Donald Trump, Joseph Fischer, Joe Biden's, Fischer, Trump, Trump's Organizations: WASHINGTON, Capitol, Trump, Sarbanes, Oxley, Justice Department, ., Prosecutors Locations: Washington , DC

☆ India's major bond market milestone could prove to be a double-edged sword for investors
▼ + stars: | 2024-06-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

(Photo by Ajay Aggarwal/Hindustan Times via Getty Images)Indian government bonds reached a major milestone on Friday with their inclusion in JPMorgan's emerging market government bond index. Take the broad L&G India Government Bond exchange-traded fund, for instance. Anticipating the Wall Street bank's decision, alongside Bloomberg's move to include India in a similar index next year, markets have partly pushed up bond prices in 2024 despite the risks of inflation reigniting. While these moves by big Wall Street institutions might be lucrative for investors today, it's likely to dampen their returns over the longer term. After all, as bond prices rise their yields fall.

Persons: Ajay Aggarwal, Bloomberg's, that's Organizations: Hindustan Times, Getty Images, G India Government Bond Locations: DELHI, INDIA, New Delhi, India

☆ Younger generations of Asians are spending big on art
▼ + stars: | 2024-06-28 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +4 min

Younger, wealthy shoppers in Asia are splashing their cash on art, according to a longtime collector and senior auction house executive. Chen Yongnuo | China News Service | Getty ImagesAnd, while the size of the global art market fell 4% last year to around $65 billion, according to the Art Basel & UBS Art Market Report 2024, sales in China rose by 9% in 2023, overtaking the U.K. as the world's second-largest art market. For Sotheby's, the rise in younger buyers is driven in part by an increase in online activity. "The definition of digital art nowadays has been expanded from simply photography to video art to NFTs to AI-generated art," she told CNBC's "Art of Appreciation." "With the younger generations becoming more and more prominent in the market ... digital artists ... will be the group of artists getting more attention," Siyang-Le added.

Persons: Nicolas Chow, Gen X, we've, X, Chow, CNBC's, Z, Gen, Yoshitomo Nara, Chen Yongnuo, Clare McAndrew, Angelle, Mak2, Li Zhihua Organizations: …, —, Art Basel, UBS Survey, China News Service, UBS Art, Arts Economics, Survey, Art, CNBC's, Getty Locations: Asia, Shanghai, millennials, Christie's Hong Kong, Sotheby's Hong Kong, China, Hong Kong, Art Basel Hong Kong

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