The storefronts of Dolce & Gabbana, Tiffany & Co. and Patek Philippe are seen as people enter Icon Siam, a luxury shopping mall located on the Chao Phraya River, on June 12, 2024 in Bangkok, Thailand. Lauren Decicca | Getty Images News | Getty ImagesThe personal luxury goods market looks set...
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Homebuilder deal activity is surging, fueled by major Japanese buyers
Exceptionally strong housing demand in the U.S. has large homebuilders in the driver's seat and smaller builders ripe for takeover. The buyers are both domestic and Japanese.M&A activity in the single-family homebuilder space is having a record year in terms of dollar volume, and close to a record in the...
BlackRock expands its tokenized money market fund to Polygon and other blockchains
The BlackRock logo is pictured outside the company's headquarters in the Manhattan borough of New York City on May 25, 2021.Carlo Allegri | ReutersBlackRock has expanded its tokenized money market fund to include several more blockchains.The investment manager said Wednesday that its USD Institutional Digital Liquidity Fund (BUIDL) is now...
Chinese AI startup takes aim at OpenAI’s Sora with image-to-video tool launch
Pictured here is an AI-generated clip from Vidu's website. The tool can create videos from text or image prompts.Evelyn Cheng | CNBCBEIJING โ Beijing-based Shengshu Technology on Wednesday said that its artificial intelligence-powered text-to-video tool Vidu will now be able to generate videos by combining images.Vidu already allows users worldwide...
Annual inflation rate hit 2.6% in October, meeting expectations
Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday.The consumer price index, which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage...