The wealth gap among millennials is widening, with the top 10% of the generation accumulating more wealth than their predecessors. While the majority of millennials face challenges such as student debt, low-wage jobs, and unaffordable housing, a small elite group is thriving. According to a recent study, the average millennial has 30% less wealth at
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Chinese electric car start-ups Nio and Xpeng have decided to shift their focus to a lower-priced segment of the market by introducing newly branded cars this year. Nio’s CEO William Li disclosed that the company’s first mass-market car will be an SUV that is more affordable than Tesla’s Model Y, which starts at 249,900 yuan
The recent approval by the Food and Drug Administration of Pfizer’s gene therapy for a rare genetic bleeding disorder marks a significant milestone for the company. This approval paves the way for Pfizer to enter the gene therapy market in the U.S., offering a one-time treatment for adults with moderate to severe hemophilia B. Let’s
Alphabet recently released its first-quarter report, exceeding Wall Street’s expectations in terms of sales, operating margin, and profits. Total revenue for the quarter reached $80.54 billion, marking a 15.4% increase year over year. Similarly, earnings per share saw a significant surge of 62% annually, settling at $1.89. This outstanding performance has positioned Alphabet as a
Southwest Airlines recently announced a wider loss for the first quarter compared to the same period last year. This came along with a warning about Boeing’s airplane delays that are expected to hinder its growth up to 2025. The airline initially planned to expand its capacity by 6% this year, but due to the challenges
BlackRock, the biggest asset manager in the world, has recently introduced a groundbreaking product called LifePath Paycheck. This innovative product is designed to assist workers in transitioning their retirement savings into a consistent income stream that mirrors the paychecks they received during their working years. The CEO of BlackRock, Larry Fink, described this product as
Synthesia, a Nvidia-backed artificial intelligence firm, has introduced a groundbreaking technology that is set to revolutionize the video production industry. The company’s latest innovation, known as “Expressive Avatars,” enables users to create digital avatars that can convey human emotions simply by inputting text. This advancement in AI technology blurs the lines between the virtual world
Walgreens recently announced a significant expansion of its specialty pharmacy services by partnering directly with drugmakers to make cell and gene therapies more accessible to U.S. patients. This move comes as the company continues to invest in the growing specialty pharmacy segment, highlighting the increasing importance of providing care for patients with chronic, rare, or
The first quarter of 2023 marked a significant turnaround for South Korean memory chipmaker SK Hynix, as the company reported a net profit of 1.92 trillion South Korean won ($1.39 billion). This positive income comes after a string of losses totaling 2.58 trillion won in the same period a year ago. The shift in financial
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