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Billionaires are in the midst of their own Great Wealth Transfer, UBS finds

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Welcome to the modern dynastic era. Today’s billionaires are undergoing a seismic shift, transferring an unprecedented amount of wealth to heirs around the world that is so large it’s changing the makeup of the typical billionaire. Right now, the typical billionaire is around 69 years old and made his (it’s almost always a man) money …

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US defense secretary By Reuters

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© Reuters. File photo: U.S. Secretary of Defense Lloyd Austin looks on as he attends the ASEAN Defense Ministers’ Meeting Plus in Jakarta, Indonesia, November 16, 2023. REUTERS/Willy Kurniawan/Pool/File photo By Phil Stewart WASHINGTON (Reuters) -U.S. Defense Secretary Lloyd Austin delivered perhaps his strongest remarks to date on Saturday over Israel’s need to protect civilians in Gaza, …

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Startups weather a dismal year during which 543 have already declared bankruptcy or shut down: ‘You can’t sugar coat it’

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It’s been a brutal year for startups, with more companies struggling to raise money and hundreds shutting down altogether, according to new data.  So far in 2023, 19% of all startup funding rounds raised money at a lower valuation for the company than they’d previously been awarded by investors. That’s up from just 5% in …

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Ethereum eyes potential rally as bullish pattern emerges By Investing.com

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© Reuters. The cryptocurrency , currently holding a market capitalization near $250 billion and standing as the second-largest by market size, has been displaying signs of a potential uptick. Analysts have identified a bullish triangle pattern on the Ethereum chart, which has been forming since mid-2022 following Terra’s collapse. This pattern suggests that if Ethereum …

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Elon Musk warns ‘something scared’ OpenAI’s chief scientist

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Elon Musk played a big role in persuading Ilya Sutskever to join OpenAI as chief scientist in 2015. Now the Tesla CEO wants to know what he saw there that scared him so much. Sutskever, whom Musk recently described as a “good human” with a “good heart”—and the “linchpin for OpenAI being successful”—served on the …

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Nigeria faces renewed naira shortage despite central bank claims By Investing.com

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Nigeria is currently experiencing a widespread shortage of naira notes, affecting several states and leading to severe cash access constraints. This situation persists despite previous assurances from the Central Bank of Nigeria (CBN) that there was an adequate supply of currency in circulation. Isa AbdulMumin, a representative from the CBN, has reiterated that all denominations …

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Morgan Stanley: Housing market poised for historic improvement in affordability

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The housing market is really expensive—we all know that by now. Affordability is the worst it has been since the 1980s, and that has a lot to do with mortgage rates that reached slightly above 8% following years of historically low rates and home prices that skyrocketed during the pandemic-fueled housing boom. But Morgan Stanley …

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Israel renews warning for Gazans to flee southern city By Reuters

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2/2 © Reuters. Weapons and equipment which Israel’s army says it found at Al Shifa hospital complex in the Gaza Strip, as seen in a handout picture released by the Israel Defense Forces on November 15, 2023. Israel Defense Forces/Handout via REUTERS 2/2 By Nidal al-Mughrabi and James Mackenzie GAZA/JERUSALEM (Reuters) -Israel issued a fresh …

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The Modern Board: Meet the founder making board work easier

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More than 70% of the corporate boards that adopt OnBoard, a digital governance software platform, each month come from what the company’s chief executive officer, Paroon Chadha, calls the “P world”: paper and pen. While companies transition various elements of their work to the digital realm, their boards of directors, more often than not, still live …

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US, South Korea revise deterrence strategy, boost drills over North Korea threat By Reuters

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© Reuters. US Secretary of Defense Lloyd Austin and South Korean Defence Minister Shin Won-sik attend a welcome ceremony before their annual security meeting at the Defence Ministry in Seoul, South Korea on November 13, 2023. JUNG YEON-JE/Pool via REUTERS By Phil Stewart and Hyunsu Yim SEOUL (Reuters) -South Korea and the United States on …

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