Author: i2wtc
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.The top 10% of Americans added $5 trillion to their wealth in the second quarter as the stock market rally continued to benefit the biggest investors, according to new data from the Federal Reserve.The total wealth of the top 10% — or those with a net worth of more than $2 million — reached a record $113 trillion in the second quarter, up from $108 trillion in the first…
Sopa Images | Lightrocket | Getty ImagesOpenAI now has two of the top three free apps in Apple’s App Store, and its new video generation app Sora has snagged the coveted No. 1 spot.The artificial intelligence startup launched Sora on Tuesday, and it allows users to generate short-form AI videos, remix videos created by other users and post them to a shared feed. Sora is only available on iOS devices and is invite-based, which means users need a code to access it.Despite these restrictions, Sora has secured the top spot in the App Store, ahead of Google’s Gemini and OpenAI’s…
Chinese People’s Liberation Army (PLA) Navy ship Yimengshan weights anchor at the pier of the Stonecutters Island Naval Base in Hong Kong, south China, on Oct. 3, 2025. The Chinese People’s Liberation Army (PLA) Navy ships Qi Jiguang and Yimengshan wrapped up their three-day open ship events on Friday morning and departed the Hong Kong Special Administrative Region (HKSAR) for Cambodia, Thailand and Singapore. (Xinhua)HONG KONG, Oct. 3 (Xinhua) — The Chinese People’s Liberation Army (PLA) Navy ships Qi Jiguang and Yimengshan wrapped up their three-day open ship events on Friday morning and departed the Hong Kong Special Administrative Region…
PESHAWAR: Acting President of Pakistan, Syed Yousaf Raza Gilani, has said that Pakistan made a peace agreement with US President Donald Trump through consensus and mutual understanding, and categorically stated that no decision regarding Israel has been made nor is under consideration. He added that the Foreign Minister will take the Parliament into confidence on this matter. Speaking at a press conference at the Governor House Peshawar alongside Khyber-Pakhtunkhwa Governor Faisal Karim Kundi, Gilani emphasized that foreign policy is a federal matter, and decisions in this regard are made collectively, not by any single individual. “This was not the decision…
HYDERABAD: Sindh’s farmers have rejected Punjab Chief Minister Maryam Nawaz’s stance in favour of the controversial Cholistan Canal, blaming her for attempting to resuscitate a ‘dead horse’. A meeting of the Sindh Chamber of Agriculture (SCA), chaired by its president Dr Nadeem Qamar, reiterated the outright rejection of any dam or canal project on the Indus River. Qamar stated, “the people and farmers of Sindh will never allow construction of any canal or dam on the Indus,” pointing out that, as far as figures provided by the Indus River System Authority (IRSA) are concerned, the water allocation for Sindh stands…
Russ Vought, Director of the US Office of Management and Budget (OMB), speaks at the National Conservative Convention in Washington D.C., Sept. 3, 2025. Dominic Gwinn | Afp | Getty ImagesThe Trump administration has put on hold $2.1 billion in Chicago infrastructure projects, Office of Management and Budget Director Russell Vought said in a social media post on Friday.Vought’s announcement on the third day of the U.S. government shutdown comes on the heels of two other moves by the Trump administration targeting funding in cities and states led by Democrats, whose party is being blamed by the administration for the…
Taylor Swift performs onstage during The Eras Tour at Wembley Stadium on June 21, 2024, in London.Kevin Mazur | Getty ImagesOn Friday, 24-year-old Tayra McDaniels will scamper down the stairs of her East Village apartment building and pick up four preordered vinyl editions of Taylor Swift’s new album, “The Life of a Showgirl” — each a different color and with a different collectible cover. Then she’ll head over to Target to snag three more exclusive CDs and another vinyl, she said.The haul will cost her more than $200. “I know it’s a lot of money,” she said. “But I don’t…
Amazon founder Jeff Bezos speaks with John Elkann, CEO of Exor and chairman of Ferrari at Italian Tech Week on October 3, 2025.Arjun Kharpal | CNBCTURIN, Italy — Artificial intelligence is currently in an “industrial bubble” but the technology is “real” and will bring big benefits to society, Amazon Founder Jeff Bezos said on Friday.The term bubble usually refers to a period of inflated stock prices or valuations of companies that have disconnected from the fundamentals of a business. One of the most famous bubbles that burst was the 2000 dotcom crash where the value of internet companies plummeted.Exor CEO…
* The China Wuqiao International Circus Festival is one of the world’s three major acrobatic competitions, alongside the International Circus Festival of Monte-Carlo in Monaco and the World Circus Festival of Tomorrow in Paris.* While preserving its traditional art, Wuqiao is also leveraging its unique cultural legacy to spur economic growth and improve residents’ quality of life.* Wuqiao has been building cultural bridges through international acrobatic exchange. Since 2002, the Hebei Wuqiao Acrobatic Art School has trained more than 1,000 international students from over 30 countries and regions.SHIJIAZHUANG, Oct. 3 (Xinhua) — Beneath the bright theater lights, four Tanzanian acrobats…
ISLAMABAD: Senior counsel Dr Farogh Naseem has argued that super tax is not an additional taxa contention with which Supreme Court judge Jamal Khan Mandokhail has disagreed. The five-member constitutional bench (CB) of the Supreme Court, headed by Justice Aminuddin Khan, on Thursday resumed hearing of petitions filed against imposition of the super tax. During the hearing, Justice Mandokhail asked whether other high courts had given rulings on the amendment to Section 99D of the Income Tax Ordinance. Dr Naseem replied that the Sindh High Court had dismissed the petitions, while cases were still pending before the Islamabad High Court…