No slowdown in spending among the wealthy on this Bahamian island

The Bahamas has more than 700 islands and cays; remote workers and students can live on 16 of them, including Eleuthera (shown here). Sylvain Sonnet | The Image Bank | Getty Images Word that Taylor Swift and Travis Kelce had been seen on the marina of this tiny speck (5 square miles) of an island … Read more

Central banks had a big week. Here’s what happened — and what’s next

U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., March 20, 2024. Elizabeth Frantz | Reuters Central banks around the world reached a pivotal point this week, with Switzerland becoming the first major economy to cut interest … Read more

Anthropic lining up a new slate of investors, ruled out Saudi Arabia

Deep-pocketed, sovereign wealth funds are among the investors clamoring to get a stake in Anthropic, the red-hot artificial intelligence startup that’s taking on OpenAI. One country that’s being left out: Saudi Arabia. As bankers line up a group of potential new Anthropic backers, the company has ruled out taking money from the Saudis, according to … Read more

Trump social media merger approved by DWAC shareholders

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Stefani Reynolds | AFP | Getty Images Shareholders in Digital World Acquisition Corp. voted Friday to approve a merger with Donald Trump’s social media company, … Read more

Airbus says it’s ‘not happy’ about issues at rival Boeing

French plane maker Airbus is “not happy” about the multitude of problems facing its U.S. rival Boeing, according to its chief financial officer. “We’re not happy with the issues that our competitor’s having. I think it’s not helpful for the industry, and if it’s not helpful for the industry, it’s not helpful for Airbus,” Thomas … Read more

Climate startups face ‘valley of death’. This VC just raised $325 million to help

Death Valley National Park on July 15, 2023, near Furnace Creek, California. David Mcnew | Getty Images Venture capital firm World Fund said Friday it’s closed a 300 million euro ($325 million) fund to back startups tackling climate change.   World Fund, a European climate technology investor incubated by the environment-conscious search engine Ecosia, said … Read more

Vanguard doesn’t believe the Fed will cut interest rates this year

Vanguard doesn’t expect the Federal Reserve to cut interest rates this year, defying the view from Fed officials that the central bank remains on track to reduce rates three times in 2024. The Fed on Wednesday left interest rates unchanged for the fifth consecutive time, as expected, keeping its benchmark overnight borrowing rate in a … Read more

(RDDT) starts trading on NYSE

Reddit shares jumped as much as 70% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. … Read more

Turkey central bank raises interest rate to 50%

A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank on Thursday raised its key interest rate, the one-week repo rate, from 45% to 50%, citing the continuing need to counter climbing … Read more

What to expect from the Federal Reserve’s policy meeting Wednesday

Federal Reserve Bank Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on March 06, 2024 in Washington, DC.  Chip Somodevilla | Getty Images The Federal Reserve has a lot to do at its meeting this week, but ultimately may not end up doing a … Read more