Stock Surge Saw US Add More Than 379,000 Millionaires Last Year

Jun 18, 2025 | Markets

The US added more than 1,000 new millionaires per day last year, with surging stocks driving the wealth increase, according to a new report from UBS. There were more than 684,000 millionaires created worldwide in 2024, including over 379,000 in the US. Overall, wealth...

Microsoft Planning Thousands More Job Cuts Aimed at Salespeople

Jun 18, 2025 | Markets

Microsoft Corp. is planning to ax thousands of jobs, particularly in sales, as part of the company’s latest move to trim its workforce amid heavy spending on artificial intelligence. The cuts are expected to be announced early next month, following the end of...

Cathie Wood’s 50% ARKK Rebound Hits a Big Wall of Skepticism

Jun 17, 2025 | Markets

Cathie Wood’s flagship ETF has staged a powerful comeback from the depths of the trade war panic, rallying more than 50% since early April. But rather than restoring investor faith, the rebound has only been met with skepticism. Outflows are persistent. Short sellers...

Applied Intuition Hits $15 Billion Valuation for AI Vehicle Tech

Jun 17, 2025 | Markets

The company raised $600 million from investors as it prepares for an eventual IPO. Applied Intuition Inc. — a startup developing technology for autonomous vehicles, drones and more — has raised $600 million from investors in a deal that more than doubles its valuation...