Fg Trade | E+ | Getty ImagesGeneration X may be the biggest beneficiary from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study.While millennials and members of Generation Z are expecting the biggest inheritances in the coming years as baby boomers pass down...
Year: 2024
Forever 21 seeks rent concessions as fast-fashion brand faces financial woes
Forever 21 is asking landlords for a break on rent as the legacy fast-fashion player's sales decline and it struggles to keep up with savvier competitors, CNBC has learned.The retailer, which has more than 380 stores in the U.S., has asked some landlords to cut its rent by as much...
Bank of England keeps rates at 5.25% in ‘finely balanced’ decision; traders lift bets for August cut
General view of the Bank of England building in London.Sopa Images | Lightrocket | Getty ImagesLONDON — The Bank of England on Thursday opted to keep interest rates steady at its June meeting, but described the decision as "finely balanced" after U.K. inflation hit its 2% target.Money market pricing lifted...
Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%
Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska, on May 3, 2024.David A. GroganWarren Buffett's Berkshire Hathaway has scooped up more shares of Occidental Petroleum over each of the past nine trading sessions, driving his gigantic stake in the Houston-based oil and...
Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans
Jane Fraser, CEO of Citigroup, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday, September 22, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesBanking regulators on Friday disclosed that they found weaknesses in the...