Australia’s average wealth-per-adult increased by nearly 10% to $388,000 in 2023, more than twice the growth-rate of USB’s sample of 56 countries, according to the latest UBS Global Wealth Report.
A Forbes analysis found the country, with a 276% inflation rate, has the highest crypto adoption rate in the Western Hemisphere, but little use of the most trustworthy exchanges.
Microsoft has invested $13 billion in OpenAI, but said in a letter it felt confident over the ChatGPT maker’s future and no longer believed an observer seat on the startup’s board was necessary.
Quarterly funding has hit a six-quarter high thanks to a surge in mega-deals, but AI is not attracting as many investors at the hype would have you believe, Cut Through Ventures’ latest report shows.
The AI boom undoubtedly resembles the dot-com bubble but with a difference. Back then, most startups carried the risks, while now, giant AI pioneers are unlikely to go broke. Rather, investors will suffer.
Temu has spent the most time in the number one spot across iPhone and Android app stores in 2024 as of June 15, according to market intelligence firm Sensor Tower.
The South Korean tech giant said it expects to rake in second quarter profits more than 15 times the size than it did the same time last year.
Embattled retailer Neiman Marcus has been saved by the parent company of luxury rival Saks Fifth Avenue, with a surprise investment from Amazon.
The 20-year-old online book retailer, which went public on the ASX in 2020, is on the brink of collapse.
Political uncertainty takes a toll shrinking the fortunes of 39 people in the ranks.