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Auction sales fall 6% in the first half, raising fears of an art market shift
Ups and Downs by KAWS, estimated£30000-£50000, on display during a preview at the Phillips showroom in central London, ahead of their forthcoming Evening and Day Editions auction. Picture date: Friday January 17, 2025. (Photo by Ian West/PA Images via Getty Images) Ian West – Pa Images | Pa Images | Getty Images A version of […]
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If AI attempts to take over world, don’t count on a ‘kill switch’ to save humanity
LEDs light up in a server rack in a data center. Picture Alliance | Picture Alliance | Getty Images When it was reported last month that Anthropic’s Claude had resorted to blackmail and other self-preservation techniques to avoid being shut down, alarm bells went off in the AI community. Anthropic researchers say that making the […]
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LVMH-backed investor group takes 20% stake in private jet company Flexjet
A FlexJet Gulfstream G450 airplane approaches San Diego International Airport for a landing on May 9, 2025 in San Diego, California. Kevin Carter | Getty Images News | Getty Images An investment group led by LVMH’s private equity arm is buying 20% of private jet company Flexjet, marking the latest push by the luxury industry […]
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How wealthy investors bet on gold, from buying fractions of a bar to stashing bullions in Swiss military bunkers-turned-vaults
An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, Dec. 22, 2023. Chalinee Thirasupa | Bloomberg | Getty Images 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, […]
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In recent layoffs, AI’s role may be bigger than companies are letting on
Klaus Vedfelt | Digitalvision | Getty Images As rounds of layoffs continue within a historically strong stock market and resilient economy, it is still uncommon for companies to link job cuts directly to AI replacement technology. IBM was an outlier when its CEO told the Wall Street Journal in May that 200 HR employees were […]
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How family offices can protect the bottom line when putting family members on payroll
Fluxfactory | E+ | Getty Images 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. Joshua Gentine grew up playing hide-and-seek in his family’s cheese factory in Wisconsin. His late grandfather Leonard […]
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New York City braces for wealth flight with Mamdani’s political rise
Zohran Mamdani’s primary win in New York City’s mayoral race and proposal to raise taxes on millionaires have touched off fears of a new wave of wealth flight from the city. Yet so far, there is little evidence of a slowdown in high-end real estate or real wealth losses in New York. Florida real estate […]
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Tax cuts for private jet buyers expected to lead to surge in sales
Private jets parked at the Friedman Memorial Airport during the Allen & Company Sun Valley Conference on July 10, 2025 in Sun Valley, Idaho. Kevin Dietsch | Getty Images 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 […]
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In rare earth metals power struggle with China, old laptops, phones may get a new life
A stack of old mobile phones are seen before recycling process in Kocaeli, Turkiye on October 14, 2024. Anadolu | Anadolu | Getty Images As the U.S. and China vie for economic, technological and geopolitical supremacy, the critical elements and metals embedded in technology from consumer to industrial and military markets have become a pawn […]
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How Iconiq, the wealth firm backed by Mark Zuckerberg, brings ultra-rich philanthropists together
Meta CEO Mark Zuckerberg and Square CEO Jack Dorsey. Manuel Orbegozo | Handout | Reuters 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. Even as tax changes may reduce giving by […]
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