Wealth Management News & Insights
The Most Exclusive Credit Cards Are About to Get Even More Expensive, Mark Zuckerberg Amps Up the A.I. Race, Can Start-Up Success Be Taught?
Primary Sources
- Message from CEO Andy Jassy: Some thoughts on Generative AI: Technologies like Generative AI are rare; they come about once-in-a-lifetime, and completely change what’s possible for customers and businesses. So, we are investing quite expansively, and, the progress we are making is evident. [Amazon]
- Chair Jerome H. Powell Testimony – Semiannual Monetary Policy Report to the Congress: The Federal Reserve remains squarely focused on achieving our dual-mandate goals of maximum employment and stable prices for the benefit of the American people. Despite elevated uncertainty, the economy is in a solid position. [FRB]
Financial Markets
- Nvidia Ruffles Tech Giants With Move Into Cloud Computing: Things are getting awkward for cloud incumbents as the AI chip giant eyes their turf. [WSJ]
- Tesla’s Robotaxi Launch Shows Google’s Waymo Is Worth More Than $45 Billion: Waymo was last valued at just $45 billion, while autonomous technology drives most of Tesla’s $1 trillion value. [WSJ]
- Home Sales Just Posted Their Slowest May in 16 Years: Existing home sales in May fell 0.7% compared to the same month last year. Measured monthly, sales were up slightly, 0.8%, from the month before. [NPR]
The chart above highlights FedEx volume by service and month. Volume in the last three months accelerated compared to the prior three months.
Financial Planning
- The Most Exclusive Credit Cards Are About to Get Even More Expensive: Forget inflation fears: Issuers find that raising prices is good for business. [WSJ]
- What Condo Owners Should Know Before a Special Assessment Hits: Unexpected expenses could cost you thousands or even hundreds of thousands after buying in a condominium building. [WSJ]
Business Strategy
- In Pursuit of Godlike Technology, Mark Zuckerberg Amps Up the A.I. Race: Unhappy with his company’s artificial intelligence efforts, Meta’s C.E.O. is on a spending spree as he reconsiders his strategy in the contest to invent a hypothetical “superintelligence.” [NYT]
- It’s a New Era for Capital One. Amex and Chase Are in Its Sights: Credit-card giant Capital One Financial now owns its own network, just as American Express does. What will it do with it? [WSJ]
- As Anna Wintour Shifts Her Focus, ‘Vogue’ is Looking for a New U.S. Editor: The U.S. magazine will search for a new editor-in-chief to give Anna Wintour more time to focus on her work as Vogue’s global editorial director and parent company Condé Nast’s chief content officer. [NPR]
- Your Next Online Purchase Could Be Delivered by Delta: Airline now offers door-to-door delivery service for brands such as Figs scrubs and Arezzo Shoes. [WSJ]
- A Fight Between Cable and Wireless Providers Means Cheaper Home Internet for You: In fierce competition, Verizon, Comcast and T-Mobile all recently launched long-term price-lock deals. [WSJ]
- PayPal Teams Up with the Big Ten and Big 12 to Enable Payments to Student-Athletes: The partnership follows the recent court decision in House v. NCAA, which allows schools to directly compensate student-athletes. [CNBC]
Life & Work
- Watch All the Cannes Lions 2025 Grand Prix Winners: ADWEEK rounds up the top winners from each category across the festival. [ADWEEK]
- Avoiding Seed Oils? Here, the Best Alternatives to Buy: From canola to sunflower, cooking oils we’ve long relied on are now considered unhealthy by some. But how do the alternatives perform in the kitchen? We put them to the test. [WSJ]
- The Oklahoma City Thunder Just Won the NBA Title—and They’re About to Get a Whole Lot Better: The Thunder didn’t just win a championship on Sunday. They served notice to the rest of the league that the sport’s newest dynasty has arrived. [WSJ]
- Pixar’s ‘Elio’ is Emblematic of a Bigger Headwind for Hollywood: Animation as a whole has seen sequels outperform new stories in recent years. [CNBC]
- Can Start-Up Success Be Taught?: More colleges are launching courses in entrepreneurship but founders question their value. [FT]