US consumers are spending less on products and more on experiences — a trend that could ease supply snags and inflationary pressures, and help the travel industry this summer.
For the first time since COVID halted movement around the world, leisure travel has returned to 2019 levels, according to a report released by the Mastercard Economics Institute. People are feeling more comfor…
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The share of Americans who say it’s a good time to buy a house hit an all-time low of 25% in a monthly Fannie Mae survey.
The pandemic-era surge in U.S. housing prices, combined with increased concerns about job stability and rising mortgage rates, are deterring potential buyers from trying to purchase a home.
On Thursday, trades handled by the world’s largest bank in the globe’s biggest market traversed Manhattan on a USB stick.
Industrial & Commercial Bank of China Ltd.’s U.S. unit had been hit by a cyberattack, rendering it unable to clear swathes of U.S. Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. That fo…
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When Chinese home-buyer Zhiwei decided to purchase a luxury apartment at a development named Australia Villas back in 1997, it was billed as the apex of affluence.
Located outside China’s southern megacity Guangzhou, the sprawling complex was to have 292 buildings, including a gymnasium, spa, cinemas, and a private school. Boutiques and restaurants would dot its 2,000 acres, sales s…
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Xi Jinping renewed calls for China to step up the development of technology critical to national security, issuing a forceful reminder just as escalating U.S. sanctions threaten Beijing’s efforts to become self-reliant in semiconductors.
Invoking the so-called “whole nation system” that propelled China’s space and nuclear weapons programs, Xi exhorted top officials…
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A Target store in New York, US, on Monday, March 4, 2024. Shelby Knowles | Bloomberg | Getty Images
Target on Tuesday said it will launch a paid membership program next month, riffing off the playbook of its rivals Amazon and Walmart.
The subs…
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Christie's auction house in New York.CNBC
A version of this first article 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.
A shopper walks by an American Eagle store on November 21, 2023 in Glendale, California. Justin Sullivan | Getty Images
American Eagle on Thursday announced a new strategy to boost profitable growth over the next three years, as the retailer said it…
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The Foot Locker logo is displayed in a store on May 19, 2023 in San Francisco, California. Justin Sullivan | Getty Images
Shares of Foot Locker plummeted about 30% on Wednesday after the sneaker retailer reported a holiday-quarter loss, issued weak g…
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The game of baccarat came to wider public attention as a result of the first Mission impossible novel, Casino Royale. In that novel, Bond, an expert baccarat player, is assigned to bankrupt the villain Le Chiffre in the gaming tables rrn order that he will do not be able to recover his gambling financial obligations. When the novel was recently filmed, however, the two antagonists played the no…
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