Business

Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public. Ackman’s firm is raising $1.05 billion in a funding round,

The Gap logo is displayed at a Gap store in Los Angeles, April 25, 2023. Mario Tama | Getty Images Retail’s biggest winners during first-quarter earnings aren’t thriving because consumers are suddenly spending more on discretionary goods — it’s because they’re executing well and cash-strapped shoppers are choosing them over competitors.  If there’s one takeaway

Martin Barraud | Ojo Images | Getty Images Many Americans are likely familiar with financial thresholds that are adjusted for inflation each year. They include contribution limits to 401(k) plans, cost-of-living adjustments for Social Security benefits and federal income tax brackets, to name a few. These tweaks help households keep pace with the rising cost

A Gap store in New York, US, on Monday, May 27, 2024. Gap Inc. is scheduled to release earnings figures on May 30.  Bloomberg | Bloomberg | Getty Images Gap posted positive comparable sales at all four of its brands on Thursday, leading the apparel giant to raise its full-year guidance as CEO Richard Dickson’s

U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. Whether it’s households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to software, Moynihan

Shoppers walk in front of a Kohl’s store in Mount Kisco, New York. Scott Mlyn | CNBC Kohl’s shares plummeted more than 25% Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a slight profit. That share slide puts the stock on pace for its biggest

The three keys USB logo is seen outside the London office of Swiss bank UBS in central London, on March 20, 2023. Daniel Leal | AFP | Getty Images LONDON — UBS on Thursday announced a shake-up of its executive board in the latest phase of a radical overhaul of the Swiss banking giant, following

Activist investor Nelson Peltz has sold his entire stake in Disney, a person familiar with the matter tells CNBC. Peltz sold all of his Disney stock at roughly $120 a share, the person said, making about $1 billion on the position. The stock currently trades for about $100 per share. The exit comes weeks after

Jim Chanos Scott Mlyn | CNBC Famed short seller Jim Chanos called a lawsuit accusing him of embezzling funds for personal use, “false, baseless and defamatory.” Chanos gave the statement CNBC’s Scott Wapner in response to allegations made by a former investor in Chanos & Co. Conlon Holdings, a Chicago-based firm run by Sean Conlon, filed

2025 Porsche 911 Targa 4 GTS hybrid sports car Porsche Porsche on Tuesday revealed the first-ever production hybrid version of its iconic 911 sports car, with a starting price of $164,900. The 2025 911 Carrera GTS hybrid marks a significant change to the iconic German sports car amid the automotive industry’s focus on increasing electrified

A night in China’s Guizhou province at the Cliff Hotel, pictured here, starts around $83, according to Trip.com, which says the hotel was built in 2023 with 34 rooms. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese travelers are increasingly opting for cheaper domestic destinations over foreign tourist spots. Only 14% of high-income households

People picket outside of a Starbucks store in New York’s East Village as Starbucks Workers United have announced that they are waging the company’s largest strike Thursday on the coffee company’s Red Cup Day on November 16, 2023 in New York City.  Spencer Platt | Getty Images When Starbucks and its baristas union resume contract

A top exchange-traded fund provider is betting on the long-term popularity of GLP-1 weight loss drugs. Roundhill Investments’ GLP-1 & Weight Loss ETF (OZEM), which began trading last week, pairs leaders Eli Lilly and Novo Nordisk with players developing new treatments for weight loss and diabetes. CEO Dave Mazza said his firm is capitalizing on

Chris Hemsworth stars as the villainous Dementus in Warner Bros.’ “Furiosa: A Mad Max Saga.” Warner Bros. Discovery In George Miller’s new Mad Max film “Furiosa,” a red paint flare explodes and casts the theater screen in a saturated crimson cloud. Feet away, among the rows of gyroscopic 4DX chairs, plumes of fog roll in,

Alibaba’s international e-commerce platform AliExpress is a UEFA Euro 2024 sponsor and has signed David Beckham as its global brand ambassador. AliExpress BEIJING — Soccer star David Beckham will promote Alibaba‘s international e-commerce platform, AliExpress, in its biggest global brand ambassador partnership to date, the business unit announced Monday. The deal comes against the backdrop

A T.J. Maxx store in Pasadena, California. Mario Anzuoni | Reuters Off-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it’s not just because consumers are under pressure and hunting for value.  Persistent inflation and rising prices for essentials like food and gas have pushed

Ryanjlane | E+ | Getty Images Sometimes, it pays to pay with cash.   More merchants are offering a lower price to customers who use cash rather than credit card for a purchase. That means opting for paper over plastic may save you money in some cases. Just how much? Typically, cash discounts run about

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. Today’s workaholic wealthy rarely have time to sit back and read a good book — except maybe for a few weeks