The art market is experiencing a decline in auction sales as wealthy buyers and collectors take a step back from the frenzied prices seen in recent years. Major auction houses, including Christie’s, Sotheby’s, and Phillips, are projected to have total sales of $1.2 billion for the upcoming two weeks, representing an 18% decrease from last
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European companies in China are grappling with a range of challenges as the country’s economic growth slows down and overcapacity issues rise. According to a recent survey by the EU Chamber of Commerce in China, businesses are finding it harder to turn a profit in the country. In major cities like Shanghai, companies have even
The looming wealth transfer from Baby Boomers to their children is a topic that has been gaining attention in recent years. With over $68 trillion expected to be passed down, millennials and Generation Z are hopeful about what they may receive. However, recent reports have pointed to a growing disconnect between the expectations of the
When we look at the vast landscape of financial markets, there is an intriguing opportunity that has yet to be fully explored. According to Matt Kaufman from Calamos Investments, there is a massive pool of assets lying dormant in CDs and money market accounts, waiting to be tapped into by ETFs. Kaufman’s insights shed light
The costs associated with managing a family office have skyrocketed in recent years, with the average annual operating expenses exceeding $3 million. This increase is largely driven by the growing competition for talent within the industry, which has led to higher staffing expenses. As the number of family offices continues to rise, they are increasingly
During the first quarter, online furniture retailer Wayfair experienced a decline in sales, with revenue falling to $2.73 billion, down more than 1% from the previous year’s figure of $2.77 billion. However, despite the decrease in sales, the company managed to beat Wall Street’s expectations on both the top and bottom lines. Analysts had anticipated
The Federal Reserve’s recent decision to leave interest rates unchanged has sparked a wave of concern and uncertainty among consumers. The move, driven by persistent inflation, has effectively put a halt to hopes of relief from high borrowing costs anytime soon. This decision has shifted market expectations dramatically, leaving many households in a precarious financial
In a recent announcement, Microsoft revealed a groundbreaking deal with Brookfield Asset Management, involving an investment of over $10 billion in renewable energy projects. This strategic partnership aims to meet the increasing demand for artificial intelligence and data center operations by providing 10.5 gigawatts of renewable energy between 2026 and 2030 in the U.S. and
After beating both top and bottom-line expectations, Amazon’s shares rose by nearly 2% in extended trading. The company posted earnings of 98 cents per share on $143.31 billion in revenue, surpassing the forecasted earnings of 83 cents per share on $142.5 billion. However, Amazon’s second-quarter revenue forecast fell short of estimates, signaling a potential slowdown
Super Micro shares experienced a significant decline of up to 15% in after-hours trading following the release of the company’s fiscal third-quarter results. While the server maker reported a slight revenue miss compared to expectations, it provided an optimistic outlook for its top-line performance moving forward. The company’s earnings per share came in at $6.65