It’s been more than 3 decades since Soo-man Lee founded SM Entertainment, one of South Korea’s music agencies known for bringing K-pop to the world. The entertainment company, originally founded as SM Studio in 1989, became one of the first to kickstart the global Hallyu wave — better known as the Korean wave. But Lee’s
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New cars are getting increasingly expensive. But they’re also more durable than before, which means drivers have a better chance of getting their money’s worth. As the average transaction price for new cars reached an estimated $45,872 in November — the highest on record, according to a joint forecast from J.D. Power and LMC Automotive —
In this article ADI MCHP FANG VMW Follow your favorite stocksCREATE FREE ACCOUNT VMware at the NYSE, Dec. 14, 2021. Source: NYSE Investors’ attention has returned to the Federal Reserve after a hot November jobs report last week. That’s because even though the central bank has pushed interest rates higher, the economy continues to add
Investors may get a wake-up call this winter when it comes to taxes, but it doesn’t have to be that way. According to BNY Mellon’s Ben Slavin, it’s a key time to sell losing investments in order to cut down on capital gains. He warns waiting until January or February may be too late. “Mutual
In this article DIS Follow your favorite stocksCREATE FREE ACCOUNT Bob Iger, CEO, The Walt Disney Company Scott Mlyn | CNBC Disney reappointed Bob Iger as its chief executive recently, abruptly replacing his hand-picked successor Bob Chapek, and giving Iger an early goal — find a new replacement during the next two years. Iger’s attention
Water is life, but in a warming world, it’s in ever shorter supply. California and Australia have active markets allowing investors to bet on its fluctuating cost. The FT’s Gill Plimmer explores whether water really is just another commodity, or an essential human right. And can private models of ownership still provide water to all
Residents queue at a Covid-19 testing booth in Beijing, China, on Monday, Nov. 28, 2022. The capital city has required regular virus tests for more than half a year. Bloomberg | Bloomberg | Getty Images BEIJING — Local frustration with Covid controls in China has increasingly targeted virus testing requirements and the big business they’ve
In this article DAL JOBY Follow your favorite stocksCREATE FREE ACCOUNT A VoloCity air taxi by Volocopter is pictured at Pontoise airfield in Cormeilles-en-Vexin, near Paris, France, November 10, 2022. Benoit Tessier | Reuters A world with flying vehicles, like the 1960s sitcom The Jetsons, might be closer than you think. Companies across the U.S.,
Marko Geber | Digitalvision | Getty Images Some men may need a bigger push than women when it comes to participating in their workplace retirement-savings plan, new research suggests. In 401(k) plans with automatic enrollment — meaning employees must opt out if they don’t want to participate — 93% of both men and women remain
In this article DIS Follow your favorite stocksCREATE FREE ACCOUNT Handout | Getty Images Entertainment | Getty Images Company: Walt Disney (DIS) Business: Disney is one of the most iconic entertainment companies globally. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. Disney engages in film and TV
A cool $1 million is not what it used to be. There are more millionaires in the U.S. and globally than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Even so, having seven figures in the bank offers less
In this article PD DASH HZNP ZS MRVL Follow your favorite stocksCREATE FREE ACCOUNT Marvell Technology Group Source: marvell.com Check out the companies making headlines before the bell: Marvell Technology (MRVL) – The chip maker’s stock slid 4.9% in the premarket after quarterly sales and profit fell short of Wall Street estimates. Marvell also issued
A batch of Starlink satellites deploy in orbit after a launch on Nov. 13, 2021. SpaceX The Federal Communications Commission issued a key authorization to Elon Musk’s SpaceX on Thursday, granting approval for the company to move forward with launching up to 7,500 next-generation satellites in its Starlink internet network. “Our action will allow SpaceX
The new 2020 X7 is the fifth BMW model to be produced at Plant Spartanburg, South Carolina. The new X7 will be added to the 1,400 vehicles, including the X3, X4, X5, and X6, which are already produced every day at Spartanburg, BMW Group’s largest global production plant. In 2017, the 10,000 employees of Plant
Carlyle Group shocked Wall Street when its chief executive abruptly resigned in August, throwing the leadership of one of the world’s largest private equity groups into disarray. But why did he resign? The FT’s Antoine Gara unravels the curious case of Kewsong Lee’s resignation. #privateequity #leadership See if you get the FT for free as
April 20 — Why fly first class when you can book your own private plane? XOJET, the private jet company backed by TPG Capital, can take you across the U.S. faster than a commercial flight and its service is on demand. The company keeps client names secret, but social media posts from Instagram and Twitter
Check out the new upgrades and features coming to airplane cabins in the next few years.
10’000 Hours | Digitalvision | Getty Images A recent wave of layoffs in the tech sector may lead American workers to wonder whether their job is next on the chopping block. So far, evidence is scant that the thousands of cuts at major technology firms — Meta, Amazon and Twitter, to name a few —
The Supreme Court on Thursday declined to greenlight President Joe Biden’s sweeping student debt forgiveness plan. Instead, the court said it will hear full oral arguments from both sides of the issue in February on an expedited basis. It will then issue a final ruling, per its official procedures, likely in June, at the end
In this article ASAN PD DASH HZNP MRVL ZS Follow your favorite stocksCREATE FREE ACCOUNT Zscaler rings the opening bell at the Nasdaq exchange in New York, March 16, 2018. Source: Nasdaq Check out the companies making headlines in midday trading. Zscaler – The cloud security company’s shares dipped 10.7% following its quarterly earnings report,
In this article ASTR Follow your favorite stocksCREATE FREE ACCOUNT Benjamin Lyon, chief engineer and executive vice president of engineering and operations Astra Beleaguered rocket builder Astra is losing its highly touted chief engineer, Benjamin Lyon, the company disclosed in a securities filing Friday. Lyon resigned from his role as Astra’s chief engineer and executive
Secretary of Labor Marty Walsh speaks during a news conference at the White House in Washington, April 2, 2021. Erin Scott | Reuters Most American workers dream of a comfortable retirement. Yet many find their money falls short of meeting that goal when they reach their golden years. Much of the problem has to do
Sam Norpel and her family. Norpel, 48, second from the right, got Covid-19 in December 2021 and hasn’t recovered. This chronic illness, known as long Covid, impacts up to 23 million Americans. Kirstie Donohue Sam Norpel used to present regular financial updates to C-suite executives. Now, unpredictable bouts of broken, staccato speech make that impossible
Tom Werner | DigitalVision | Getty Images After another year of tax law changes, there are significant updates for the 2022 season, with the possibility of a smaller refund or bigger bill for many taxpayers, experts say. With many Americans facing reduced tax breaks, it’s important to be proactive with year-end planning before the calendar
In this article GS Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, chief executive officer of Goldman Sachs, speaks during the Milken Institute Global Conference in Beverly Hills, April 29, 2019. Patrick T. Fallon | Bloomberg | Getty Images Goldman Sachs traders and salespeople will have to contend with a bonus pool that’s at least
Ford F-150 Lightning pickup trucks sit on the production line at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT – Ford Motor said Friday that it has achieved CEO Jim Farley’s goal of becoming the second best-selling automaker of electric vehicles in the U.S.
Priscilla Chan and her husband, Facebook founder and CEO Mark Zuckerberg, have pledged 99% of their wealth to the Chan Zuckerberg Initiative, or CZI, which aims “to advance human potential and promote equality for all children in the next generation.”
Holger Scheibe | The Image Bank | Getty Images The rate of job cut announcements at U.S. employers in November was more than five times greater than a year ago, according to a report by Challenger, Gray & Christmas. Overall, U.S.-based firms announced 76,835 job cuts in November, led by the technology sector. So far this
Family and friends gather in San Felipe, Texas, for the Jan. 26, 2021, funeral of Gregory Blanks, 50, who died of Covid-19. Callaghan O’Hare | Reuters As Americans brace for the third winter of the Covid-19 pandemic, many are still grappling with ongoing related health and financial issues — including insurance battles over long Covid
Running one of the world’s biggest companies — and earning millions per year while doing so — sounds like a no-brainer for most people. But when Amazon founder Jeff Bezos asked Andy Jassy to take over as CEO last year, Jassy didn’t immediately say “yes.” On Wednesday, Jassy explained why he needed time to think
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