Multimillion-Dollar Restaurant CEO Scaled Back His Luxury Spending on Range Rovers and McLarens Amid Economic Uncertainty
Multimillion-dollar restaurant CEO used to splurge on Range Rovers and McLarens—but he’s reining it in now, because today’s economy makes no sense When the big paychecks roll in after building a successful business, it may be tempting to splurge on designer clothes, luxury mansions, and high-tech gadgets. When Derrick Hayes—an entrepreneur who grew up in […]
Unusual Developments in the Economy: Six Emerging Economic Classes, According to a New York Times Bestselling Author
‘Something weird’s going on’ in the economy as 6 new economic classes take shape, says New York Times bestselling author Nick Maggiulli is juggling more than spreadsheets these days. He’s chief operating officer at Ritholtz Wealth Management, but he’s also a blogger, and now a two-time author thanks to his latest book, “The Wealth Ladder,” which […]
Analysts Puzzled by the Israel-Iran Conflict
Analysts scratching their heads over Israel-Iran conflict Smoke billows in the distance from an oil refinery following an Israeli strike on the Iranian capital Tehran on June 17, 2025. Atta Kenare | Afp | Getty Images Analysts are struggling to predict the extent to which Israel and Iran’s escalating conflict could influence oil prices. Israel’s […]
Moody’s Lowers U.S. Credit Rating
Moody’s downgrades U.S. credit rating U.S. Treasury yields spiked on Monday after Moody’s downgraded the U.S.’ credit rating, citing fiscal concerns. At 4:46 a.m. ET, the 30-year Treasury yield was up over 10 basis points to 5.021%. The 10-year yield also rose 10 basis points to reach 4.542%. Meanwhile, the 2-year Treasury yield was up over 2 basis points, […]
US Stocks Hover Near Record Highs as Oil Prices Decline
US Stocks Remain Steady at Near Records as Oil Drops U.S. stocks remained steady at near record levels on Tuesday after several big banks delivered stronger profits while the price of crude oil dropped. The S&P 500 rose slightly, up 0.1 percent in early trading, just one day after hitting a new all-time high for […]