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Lombard Odier’s research shows that wealthy Asians want to preserve their wealth across generations, but many still lack basic succession planning.Asia Vision | E+ | Getty ImagesWealthy families in Asia want to preserve their wealth across generations, but many still lack basic succession planning, according to new research from Lombard Odier.In a survey of more than 390 high-net-worth individuals in Asia Pacific with net investable assets of $1 million or more, 64.2% of respondents said preserving family wealth across generations is their top priority when considering wealth transfers.However, only 26.9% said their family had a complete succession plan in place,…

Snowflake CEO Sridhar Ramaswamy will help ring the closing bell at the New York Stock Exchange on September 30, 2025. new york stock exchange”SaaSpocalypse” may not be over yet. But for now, at least, concerns about the software’s demise have subsided. Software stocks soared this week on strong earnings results. snowflake and OctaThis suggests that some companies are weathering the disruption of artificial intelligence better than Wall Street expected. of iShares expands technology software exchange-traded fund It rose 8% this week and ended May with a 21% gain, the ETF’s best monthly performance since October 2001. While it was a…

U.S. President Donald Trump speaks at a Cabinet meeting in the Cabinet Room of the White House in Washington, DC, on May 27, 2026. Evan Vucci | Reuters A U.S. judge on Friday temporarily blocked President Donald Trump’s administration from establishing a nearly $1.8 billion fund to compensate victims of what Trump called the “weaponization” of government.The order by U.S. District Judge Leonie Brinkema in the Eastern District of Virginia blocks the Trump administration from “taking any further action” to establish or administer the fund while the justices hear additional legal arguments. The order will remain in effect until at…

Published May 29, 2026May 29, 2026President Donald Trump’s administration aims to raise the percentage of locally produced ingredients in North American cars eligible for trade incentives under the United States-Mexico-Canada Agreement (USMCA) to 82%, with 50% of that value produced in the United States.The new proposal, first reported by Reuters citing four anonymous sources familiar with the matter, emerged amid USMCA revision negotiations in Mexico City. Canada did not attend the negotiations.Recommended stories list of 4 itemsend of listIf accepted, the change would be a significant change from the current USMCA, which requires that 40% of the “core parts” value…

Groq is focusing on its inference neocloud business, which relies on homegrown AI chips and systems, and is seeking to raise $650 million in new funding from existing investors, sources told Axios. In December, Groq reportedly inked one of its non-acquisition deals with Nvidia for $20 billion, which included the departure of some of Groq’s top senior employees to the chip giant and the licensing of Groq’s hardware technology to Nvidia. The deal is good news for the startup’s investors, and if the deal were an outright acquisition, it would be NVIDIA’s largest acquisition price paid in cash, Axios reported.…

Two pharmaceutical industry employees are seen wearing protective gloves, masks, hats and white suits, standing near machines that are part of pharmaceutical manufacturing during working hours.Extreme Photographer | E+ | Getty ImagesInnovent Biologics shares rose 10% after the company signed a deal with pharmaceutical giant Pfizer to develop oncology drugs. The collaboration includes licensing, co-development and co-commercialization opportunities across a diverse portfolio of antibody-drug conjugates and includes the research and development of 12 breakthrough early-stage and de novo cancer treatments, the company said in its filing. Innovent will share costs with Pfizer to develop four global programs. In addition, the…

CNBC’s Jim Cramer said next week could provide important answers for technology stocks after a blockbuster quarter. Dell Technologies Enthusiasm for data center trading has grown even more.”Looking back, I guess you could say this was the moment when Dell simply took over the computer space,” the “Mad Money” host said Friday, calling the company’s recent financial results one of the biggest “explosions” in memory.Companies related to technology, especially artificial intelligence infrastructure, dominated the market this year. But he said one notable laggard has emerged. Nvidia. Things could start to change next week when CEO Jensen Huang gives a keynote…

Brazil’s leftist leader, President Luiz Inacio Lula da Silva, has condemned the US decision to designate two South American Brazilian crime networks as “terrorists”, warning that the label could be a “setback” for local law enforcement efforts.The accusations were made public in a 435-word message posted to Lula’s social media platforms on Friday.Recommended stories list of 3 itemsend of listIn doing so, Lula drew a line between criminal acts and international terrorism, understood as the use of violence for political or social ends.“The terror inflicted on communities by these organizations seeks to profit from crime, especially through drug and arms…

Artificial intelligence is changing the world, and simultaneously inventing a whole new language to describe how it’s doing it. Spend five minutes reading about AI and you’ll run into LLMs, RAG, RLHF, and a dozen other terms that can make even very smart people in the tech world feel insecure. This glossary is our attempt to fix that. We update it regularly as the field evolves, so consider it a living document, much like the AI systems it describes. Artificial general intelligence, or AGI, is a nebulous term. But it generally refers to AI that’s more capable than the average…

A projection of the euro currency symbol is photographed on the facade of the European Central Bank (ECB) headquarters in Frankfurt am Main, western Germany, on December 30, 2025.Kirill Kudryavtsev | AFP | Getty ImagesEuropean Central Bank policymakers face a dilemma as efforts to counter inflationary pressures by raising interest rates risk pushing the fragile eurozone economy into recession, but they may not need to do anything. Alexander Stott, European economist at Goldman Sachs, said market expectations for future monetary tightening, or interest rate hikes, were already causing further constraints on the financial and lending environment.”Transmission of tightening policy has…