A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Auction sales during Monterey Car Week fell 3% from last year, as a shift from older to newer cars...
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Bronfman’s Paramount bid could keep Shari Redstone involved at the company
Edgar Bronfman, Jr.Cameron Costa | CNBCEdgar Bronfman Jr.'s offer for a controlling stake in Paramount Global could keep Shari Redstone close to the company, if his bid is successful.Bronfman is open to having Redstone, currently non-executive chairman at Paramount, remain involved with the company if the Paramount special committee accepts...
The explosion of online sports betting is taking a toll on how people invest
Algerina Perna | Baltimore Sun | MCT | Getty ImagesThe explosion of online sports betting is taking a toll on personal finances, particularly among those who are financially distressed.That's the conclusion of a recent paper, "Gambling Away Stability: Sports Betting's Impact on Vulnerable Households." The authors found that sports betting...
No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Riyadh, Saudi Arabia.Xavierarnau | E+ | Getty ImagesSaudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere.The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump...
Boeing pauses tests of 777X aircraft after finding damage to one of the jets structures
A Boeing 777x aircraft during an aerial display on the opening day of the Farnborough International Airshow in Farnborough, UK, on Monday, July 18, 2022.Jason Alden | Bloomberg | Getty ImagesBoeing said Monday that it has paused flight tests of its 777X after it found damage in a structure of...