Author: Money Mechanics

The number of ultra-wealthy individuals — those with net worths of $30 million or more — is climbing at a rapid pace. As this population expands, distinct real estate patterns are emerging, with the ultra-rich gravitating toward specific global hubs.Major cities like New York, Los Angeles and Hong Kong remain top choices, offering a mix of financial opportunity, cultural influence and international connectivity. These markets continue to evolve, reinforcing their status as magnets for billionaire buyers.At the same time, new hotspots are on the rise. From Miami and Dubai to Lisbon and coastal Mediterranean towns, the ultra-rich are seeking destinations…

Risk tolerance lowers as you age, meaning once you’re retired, any significant financial changes or economic news can have a big impact on the rest of your life.As we saw in early spring, many retirees were thrown for a loop when the stock market briefly collapsed in response to President Donald Trump’s ongoing tariff announcements.The recent One Big Beautiful Bill (OBBB) is the latest news from the Capitol that will impact retirees. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with…

KEY TAKEAWAYS OpenAI has reportedly finalized a secondary share sale that values the artificial intelligence company at $500 billion.At that level, OpenAI’s valuation overtakes that of SpaceX, Elon Musk’s rocket and satellite-internet company. OpenAI has reportedly finalized a secondary share sale that values the artificial intelligence company at $500 billion, making the ChatGPT owner the world’s most valuable startup ever. The share sale, which allows employees to cash out, comes just months after OpenAI CEO Sam Altman said that Meta Platforms (META) was poaching the company’s AI staff with signing bonuses as high as $100 million. Why This Matters OpenAI’s sky-high valuation suggests…

Key Takeaways Major U.S. equities indexes were little changed Thursday afternoon, as the tech sector rose while most others declined.Shares of Intel, Advanced Micro Devices, and other chip stocks extended gains.Fair Isaac shares popped after the company said it will offer its FICO credit score data directly to providers of consolidated scores to mortgage lenders. Major U.S. equities indexes were little changed Thursday afternoon on the second day of the U.S. government shutdown, as the tech sector rose while most others declined. Intel (INTC) shares extended gains following a report that the struggling chipmaker is in early talks to add rival…

With Buffett stepping down in 2025, Berkshire’s massive $344B war chest takes center stage. Amid record market valuations, investors are eyeing portfolio mainstays. Each stock offers a different angle—fair value, dividends, or technical setups. Looking for actionable trade ideas to navigate the current market volatility? Subscribe here to unlock access to InvestingPro’s AI-selected stock winners. Warren Buffett, who has already become a legend of the financial markets in his lifetime, has announced that his adventure as Chairman of Berkshire Hathaway will end with 2025, with Canadian energy industry expert Greg Abel as his replacement. The new helmsman of the investment…

Aon, the global professional services, insurance and reinsurance broking firm, has announced that Anshuman Srivastava has been appointed to the role of Reinsurance global chief broking officer.Based in London, Srivastava has held a number of senior leadership roles at Aon, and has served on the firm’s Global ReSpecialty executive management committee. In addition, Srivastava has played a key role in helping to drive the firm’s Reinsurance Growth Leadership and Broking Strategies initiatives. Since August 2020, he has served as Deputy Head of Aon Capital Partners, the team that sits within Aon Reinsurance Solutions that focuses on connecting clients with alternative…

Rafael Henrique | Lightrocket | Getty ImagesAttorneys general from five states sued Zillow and Redfin on Wednesday, alleging the companies schemed to stop competition in the online housing rental market.The lawsuit follows a similar one filed by the Federal Trade Commission on Tuesday.Officials from New York, Arizona, Connecticut, Washington and Virginia jointly filed the lawsuit Wednesday, citing a February deal between the two companies in which Zillow “paid Redfin $100 million to shut down its apartment rental advertising business and transfer its clients to Zillow,” New York Attorney General Letitia James’ office said in a news release.”This agreement is nothing…

While AI coding startups like Cursor close brow-raising rounds on barely three years of existence, Replit’s path to a $3 billion valuation has been anything but swift. For CEO Amjad Masad, who’s been building tools to democratize programming since 2009, it’s a story of muscling through multiple failed business models, years stuck at the same revenue plateau, and a reckoning last year that forced him to cut half his staff. That makes what happened next more remarkable. Earlier this month, the Bay Area-based company closed a $250 million funding round led by Prysm Capital, nearly tripling its valuation from 2023.…

(BOE Report)– With the advice and technical support of three major pipeline companies, Alberta’s government, acting as proponent, will develop and submit a formal application for a project of national significance to the Federal Major Projects Office under the Building Canada Act. Indigenous communities in Alberta and British Columbia are being engaged from Day 1. Indigenous co-ownership, partnership and perspectives will be critical to every stage of project development and execution. The advisory group will undertake the early planning, technical assessment and application for an oil pipeline proposal to the northwest coast of British Columbia. When completed, the project will…

Key Takeaways Advanced Micro Devices is reportedly considering becoming an Intel Foundry customer, a move that would make it one of several companies following in the Trump administration’s footsteps by throwing the struggling chipmaker a lifeline. The White House has made domestic semiconductor manufacturing a priority as the U.S. seeks to edge out China in the global AI arms race. Some analysts are skeptical that Intel has the manufacturing capabilities required to secure the kind of foundry deal President Trump and Wall Street are hoping for. Intel (INTC) was down and out, and then the White House flipped a switch…