Saul Loeb | AFP | Getty Images LONDON — Billionaire wealth jumped by more than a quarter during the height of the coronavirus crisis, according to new research, with a rally in stock markets helping the wealth of the world’s richest surpass the $10 trillion mark for the first time. The “Riding the storm” study,
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An animation shows Dream Chaser and its Shooting Star cargo module in orbit around the Earth. Sierra Nevada Corporation Sierra Nevada Corporation is best known as a private aerospace and national security contractor – but the company is investing heavily in its space systems division, especially as it sees NASA and other companies building infrastructure
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IHT Wealth Management’s Yussef Gheriani believes now is a good time to consider adding travel plays to portfolios. Between cabin fever related to the pandemic and optimism surrounding effective coronavirus treatments, Gheriani speculates bookings will start meaningfully rising within the next couple of months. “People are going to be sitting down at home saying ‘Okay,
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A Qatar Airways Boeing 777 In New York. Leslie Josephs | CNBC DUBAI, United Arab Emirates — The outlook for the airline industry continues to be bleak, and one CEO has issued a particularly devastating warning on its future as fears mount over a potential second wave of coronavirus infections this fall and winter.   “The
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President Franklin D. Roosevelt signs the Social Security Act into law on Aug. 14, 1935. FPG | Archive Photos | Getty Images Many people think of Social Security as the program their parents and grandparents rely on for financial support in retirement. For James Roosevelt, Jr., it has a special significance.  His grandfather created it.
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Lucid Motors is a California-based electric vehicle start-up, and in September it revealed the Air, its vision for an electric, luxury sedan. The company promises some impressive specs, such as an estimated 517 miles of range. But starting up an electric vehicle company is notoriously difficult, and it faces steep competition from Tesla and other
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An employee pulls carts towards a Walmart store in Lakewood, California, July 16, 2020. Patrick T. Fallon | Bloomberg | Getty Images Boosted by fresh stimulus hopes, the markets have rallied this week. But the overall picture remains one of volatility and uncertainty. As yet no stimulus deal has actually been agreed, and with so
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Stocks rose on Friday to end their best week in months as President Donald Trump signaled support for a bigger coronavirus aid package.  The Dow Jones Industrial Average closed 161.39 points higher, or 0.6%, at 28,586.90. The S&P 500 gained climbed 0.9% to 3,477.13. The Nasdaq Composite advanced 1.4% to close at 11,579.94. Microsoft and Salesforce led
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[embedded content] [The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a player above at that time.] The World Health Organization is holding a briefing Friday on the coronavirus pandemic as daily cases hit a new record across the globe. The WHO reported 338,779 new
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Faraday Future, a California-based electric-car startup and Tesla’s once rival, generated buzz in 2015 as the company poached top talent from Tesla, BMW, Audi, Ford, and Ferrari. Called “Tesla killer,” Faraday’s meteoric rise in notoriety occurred on dubious underpinnings — the company did not promise a product, nor did it announce any concrete plans for
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Sept. 15 (Bloomberg) –- Alibaba’s IPO could be the biggest in history. Bloomberg’s Sam Grobart explains how Alibaba works through the experience of ordering 280 pairs of pants manufactured overseas. Video by: Dan Przygoda, David Yim (Source: Bloomberg) — Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg Bloomberg Television offers extensive coverage and analysis of international business
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With Amazon’s massive success today, it’s hard to imagine that Jeff Bezos started it in 1994 as an online bookseller — in a small garage where employees’ desks were made out of doors from Home Depot. Now, there’s almost nothing you can’t buy on Amazon, which begs the question: How did it become “the everything store”?
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CNBC’s Jim Cramer on Thursday highlighted multiple parts of the market where he sees stock prices rising and can continue to rise, whether lawmakers in Washington agree to another round of stimulus spending or not. American consumers and small businesses, grappling with double-digit unemployment and a pandemic-induced downturn, are waiting to see if lawmakers will
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Gilead Sciences will have sufficient global supply of its coronavirus treatment remdesivir by the end of October, CEO Daniel O’Day told CNBC on Friday.  The comments came shortly after the publication of peer-reviewed final data from Gilead’s large-scale trial of remdesivir. It showed the antiviral drug helped Covid-19 patients who are hospitalized recover five days faster on
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Nelson Peltz speaking at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019. Adam Jeffery | CNBC Company: Invesco Ltd. (IVZ) Business: Independent investment management company. Invesco provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. Its
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