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☆ China's ultra-rich population sees 'dramatic' growth in last 10 years, outpacing the U.S., report shows
▼ + stars: | 2024-09-17 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The world's super rich club expanded significantly over the past 10 years, with China leading the charge, according to the latest report from New World Wealth and investment migration advisor Henley & Partners. The number of centimillionaires surged 54% worldwide over the past decade to 29,350, particularly in China and the U.S., according to the report. China's growth was driven in large part by the emergence of tech centimillionaires and industrial titans, Steffen said. Most of China's centimillionaire boom happened between 2013 to 2020, Andrew Amoils, wealth analyst at New World Wealth, told CNBC. Since 2020, the number of ultra-rich has only risen about 10%, he added.

Persons: Henley, Juerg Steffen, — outpacing, Steffen, Andrew Amoils Organizations: Wealth, Henley & Partners, CNBC Locations: China, U.S, America

☆ Gold's rally to records shows no signs of slowing
▼ + stars: | 2024-09-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Gold prices just won't stop rising. Year to date, gold is up nearly 26% — outpacing the S & P 500's 18% gain. Since ETF holdings only increase gradually as the Fed cuts, this upside is not yet fully priced in." Investors seeking exposure to gold can obtain it through exchange traded funds, such as the SPDR Gold Shares ETF (GLD) . The fund, which tracks gold prices and charges 0.4% in fees, is up nearly 25% in 2024.

Persons: Goldman Sachs, Lina Thomas, Thomas, Christopher Danely Organizations: Reserve, Goldman, Miners, Gold Miners, Citigroup, Micron Technology

☆ It's no wonder Taco Bell is winning the fast-food wars. Just look at how they treat their biggest fans.
▼ + stars: | 2024-09-02 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +15 min

When Taco Bell announced the event back in July, it invited hundreds of fast-food lovers to slow down and enjoy "early retirement" with all-you-can-eat Taco Bell meals and "senior-inspired recreation." Hanging among the racks were limited-edition Taco Bell merchandise, vintage T-shirts, basketball shorts, hot pants, and many, many hats. I opted for the Cantina chicken burrito and soft taco, my favorite new menu items at Taco Bell. Tim revealed he was an avid runner who had trekked two miles to grab a single taco from Taco Bell for 97 days in a row. Anneta Konstantinides/Business InsiderWhen I asked Rotter why Taco Bell was so important to him, he recalled a trip to the only Taco Bell in Hawaii that sells kalua pork, where the staff lit up over his Hawaiian Taco Bell shirt.

Persons: —, Taco, Taco Bell, Uber, tacos, Kenny Rotter, Rotter, fanny, there's, Snoop, I've, Anneta, Taylor Montgomery, Taco Bell's, Montgomery, Dolly Parton, Bell, Gen Z, Tim, dink, influencer Joey Zauzig, Zauzig, Will, James, Caroline Organizations: Service, Taco Bell, Bell, Business, New York, Subway, Planters, KFC, Mac Locations: San Diego, La Valle, San Diego's, Santa Fe, Los Angeles, San, Woodstock, LA, Taco, Hawaii, America

☆ Jim Cramer: Costco has room to run despite a rich valuation and shares nearing all-time highs
▼ + stars: | 2024-05-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer likes Costco stock despite its high valuation and suggests it has more room to run. "I feel very comfortable" about Costco, Cramer said Thursday on " Squawk on the Street ," after the wholesale retailer reported a solid April sales report. Costco shares rose nearly 1.5% after Wednesday evening's monthly sales report showed core comparable sales, which exclude gas and foreign exchange fluctuations, gained 5.5% last month. Goldman Sachs analysts increased its Costco price target to $840 from $830 and also maintained its buy rating. The Club currently has a 2 rating on Costco shares and a price target of $800.

Persons: CNBC's Jim Cramer, Cramer, FactSet, Wells Fargo, —, Costco's, we're, Goldman Sachs Organizations: Costco, CNBC, Wells, Street, JPMorgan

☆ The Adderall shortage highlights a key issue for voters in 2024. Here's what the Biden Administration is doing about it.
▼ + stars: | 2024-04-12 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

Adderall supply issues, which began in October 2022, are making the medication more expensive. The Biden Administration said it's focused on strengthening manufacturing supply chains for Adderall. AdvertisementIt's been 18 months since the US Food and Drug Administration announced an Adderall shortage. The prescription fill rate for ADHD medications fell from 44.5% in December 2022 to 40.7% in February 2023, the study found. Have you been impacted by the Adderall shortage or high prescription drug costs?

Persons: it's, —, It's, Biden, Biden's, Joe Biden's, Adderall —, aren't, Dr, David Goodman Organizations: Biden Administration, Service, Food and Drug Administration, KFF, Kaiser Family Foundation, Business, Drug, Biden's Administration, Department of Health, Human Services, Defense, FDA, CNN, USA, DEA, USA Today, Johns Hopkins University, Medscape Medical, Government

☆ Meet the ‘Granolas,’ Europe’s answer to the Magnificent 7 stocks
▼ + stars: | 2024-02-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The Magnificent 7 tech stocks have been a big part of the extraordinary US market rally. But there’s a rival group of companies powering European stocks to new heights with even better returns, by some measures. Dubbed the “Granolas,” those 11 companies accounted for 60% of the gains on Europe’s benchmark stock index over the past 12 months. They have even slightly outperformed the Magnificent 7 over a longer period, according to Goldman Sachs. Their standout performance has “raised the issue of concentration effects” in the region’s stock market, says Philip Lawlor, managing director of markets research at Wilshire Indexes.

Persons: London CNN —, Goldman Sachs, ASML, ” Goldman Sachs, Goldman Sachs, Guillaume Jaisson, Ozempic, ‘, Philip Lawlor, ” Lawlor Organizations: London CNN, GSK, Roche, Novartis, Novo Nordisk, L’Oréal, AstraZeneca, SAP, Sanofi, “, CNN, Danish, Wilshire Indexes, —, Deutsche Bank Locations: LVMH, Europe, France, Germany, Denmark, Switzerland, Netherlands, United Kingdom, United States

☆ Bank of America sees more gains ahead for this data center stock thanks to incremental A.I. opportunity
▼ + stars: | 2023-06-23 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Investors should expect data center stock Equinix to build on its already solid gain for this year, according to Bank of America. The bank reiterated a buy rating on shares of Equinix and raised its price target on them to $850 from $750. Barden added that while the AI opportunity has yet to be fully realized, the prospect for a deeper investment in the space could "create business tailwinds at a later date." Equinix shares are up 14% this year. Over the past month, the stock is also up 7.2% — outpacing the S & P 500 in that time.

Persons: David Barden, Barden, Charles Meyers, — CNBC's Michael Bloom Organizations: Bank of America, TAM Locations: Equinix

☆ Children's’ allowances are outpacing inflation in Britain — with kids now getting $8 a week
▼ + stars: | 2023-05-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

On average, kids in the U.K. now get £333.84 ($415.08) of pocket money a year, which is £32.24 more than in the previous surveyed time period. Fifteen-year-olds were the only ones who saw a decrease of pocket money, by £0.52 to £9.72 a week. But the cost-of-living crisis is impacting pocket money, Will Carmichael, CEO and co-founder of NatWest Rooster Money, points out. The annual NatWest Rooster Money Pocket Money Index is based on data from 126,122 children in the U.K. which was collected between March 2022 and February 2023. "Pocket money" is defined as the sum of regular allowances and add-ons from things like birthdays, the tooth fairy, good grades and doing chores.

☆ President Xi Jinping says he doesn't want a hodgepodge 'street stall economy' in Beijing, even as China's youth unemployment rates hit a record high
▼ + stars: | 2023-05-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Chinese President Xi Jinping spoke against having a "street stall economy" in Beijing last week. It cannot operate 'factories in alleys' and engage in the 'street stall economy," Xi said, according to Insider's translation of his speech which was first reported by state news agency Xinhua. "Street stall economy" in China refers to recent efforts by local governments to revive their regional economies and to create jobs by promoting small entrepreneurship. China's youth unemployment rates are at a record highXi's opposition to the "street stall economy" could dash local government efforts to boost the economy through small entrepreneurship, even as China's youth unemployment rate hit a record high of 20.4% in April. This means 11 million Chinese people aged 16 to 24 are out of work, per CNN's calculations on April 30.

☆ NYC mayor cites slower economic growth spurred by high office vacancy, cost of migrant crisis and health care, in budget address
▼ + stars: | 2023-01-12 | by ( Mark Morales | ) edition.cnn.com time to read: +3 min

“We crafted this budget in the environment of economic and fiscal uncertainty. The increase in vacancies weakens the commercial office market, according to analysis from the preliminary budget. Rising health care costs and settling expired labor contracts are also listed as hurdles, according to the preliminary budget. Adams said that 88% of jobs lost during the pandemic have been recovered, according to the preliminary budget. The Adams administration also boasts $8.3 billion in budget reserves, according to the preliminary budget, which also looks ahead to investments in affordable housing addressing and environmental concerns.

☆ Meet the 15 most powerful execs leading YouTube through a new era as it doubles down on podcasts and games, and battles TikTok
▼ + stars: | 2022-10-27 | by ( Tom Dotan | ) www.businessinsider.com time to read: +1 min

YouTube remains the most popular video site among teens even as the company faces TikTok's rise. Areas like YouTube TV that once seemed expensive mistakes have become key parts of the business. Some longtime YouTube executives have stepped down and been replaced by Google ads executives. Yet the company faces unique threats. Other areas, like its YouTube TV cable bundle, started slowly but now are a major part of the broader media landscape.

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