The richest Americans are more reliant on the stock market for their wealth than they’ve just about ever been before. Stocks now account for a large share of wealth for U.S. households, according to Michael Pearce, deputy chief U.S. economist at Oxford Economics. Equities that were directly held and in mutual funds accounted for roughly…
Oct. 2 (UPI) — Tesla CEO Elon Musk‘s net worth reached $500 billion Wednesday, making him the first person to be worth half a trillion dollars. Forbes’ Real-Time Billionaires list ranks him at No. 1, followed by Larry Ellison of Oracle, Mark Zuckerberg of Meta and Jeff Bezos of Amazon. Musk had a net worth…
Ford’s legendary Mustang faces its biggest transformation yet in 2025, as CEO Jim Farley doubles down on a bold expansion that defies purist expectations, blending hybrid innovation with diverse body styles to conquer global markets. Despite a 14.2% sales dip to 23,551 units in the US first half of 2025, the pony car’s worldwide dominance—more…
Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty Images OpenAI has finalized a secondary share sale totaling $6.6 billion, allowing current and former employees to sell stock at a record…
The timing of Neptune Insurance Holdings’ IPO couldn’t be more opportune. Neptune, the nation’s largest private flood insurance, debuts on the New York Stock Exchange Wednesday under the ticker symbol “NP.” The company sold more than 18 millions shares in its initial public offering at $20 apiece, and shares opened Wednesday at $22.50. The company’s…
Tech shares rallied on Thursday, driving Asia stock indexes higher, while gold hovered near a record high and the dollar languished as a weak U.S. labor market report bolstered bets for Federal Reserve interest rate cuts. The U.S. government shutdown made it a near certainty that crucial monthly payrolls data won’t be released on Friday,…
Elon Musk said Tuesday that his artificial intelligence firm xAI is building “Grokipedia” – an open-source digital encyclopedia to rival Wikipedia, which the tech tycoon has repeatedly accused of leftist bias. The Tesla founder boasted that the new encyclopedia – named after xAI’s chatbot Grok – “will be a massive improvement over Wikipedia.” “Join @xAI…
Private payrolls plunged in September, complicating the picture for the US economy as policymakers and investors struggle to assess the state of the labor market amid a government shutdown. The Bureau of Labor Statistics is unlikely to release the monthly jobs report this Friday due to the closure. That means many flying blind without critical…
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Wednesday, shedding over 1,300 points as investors engaged in profit-taking. This marks the end of the recent record-setting rally, amid ongoing negotiations with the International Monetary Fund (IMF). During intraday trading, the KSE-100 index has lost 1,338.18 points to drop to…
A trader works on the floor of the New York Stock Exchange on Sept. 30th, 2025. NYSE The U.S. government has shut down. Around 750,000 federal employees— including those in the Bureau of Labor Statistics — might be furloughed, according to the Congressional Budget Office. If that happens, September’s jobs report will not be released…