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A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Major luxury stocks have fallen 15% or more since the Iran war started, and sales in the increasingly important Middle East market could drop by half, according to analysts.Shares of LVMH and Hermès are down roughly 16% and 20%, respectively, this month, while the S&P 500 has fallen less than 6%. Shares of Ferrari are also down 15%, and the company announced it would temporarily suspend deliveries to the…

Michael Jeffries — the former Abercrombie & Fitch CEO whose racy ads fueled the chain’s meteoric rise in the 2000s — is mentally fit to stand trial for sex trafficking, a prosecution psychologist testified on Thursday.Jeffries, 81, was logical, “jovial,” and often funny during two days of testing last year, according to Tracy O’Connor Pennuto, the federal prison system’s only forensic neuropsychologist.”‘We could be married,'” Pennuto recalled the ex-CEO telling her during one evaluation. “I’m gay, but that doesn’t matter,” she said he added.”He had appropriate humor,” she told the federal judge presiding over Jeffries’ competency hearing in Central Islip,…

In 2022, Meredith Meyer was promoted from software engineer to engineering manager at Apple. But her promotion came with a catch. Loading audio narration… The role came with new responsibilities, like overseeing a team of three engineers, but Meyer said she was never relieved of her prior individual contributor work. She said her team of less experienced staffers wasn’t ready to take on the complex tasks she’d been handling, and that management rejected her request for a larger team to distribute that work. Plus, her own responsibilities left her with less time to manage and train her team.”It just felt…

This as-told-to essay is based on a conversation with Natasha Crampton, Microsoft’s first chief responsible AI officer, based in Redmond, Washington. The following has been edited for length and clarity. Loading audio narration… I’m Microsoft’s first chief responsible AI officer, and I’ve been in the role for almost seven years now — well before ChatGPT and the agentic AI systems we’re navigating now.My job has two parts. There’s an inward-facing part that involves working side-by-side with our engineering, sales, and research teams to ensure they uphold our principles as they build AI systems. There’s also an external-facing part, which is…

This as-told-to essay is based on a conversation with Joshua Lisec, the 34-year-old founder of Lisec Ghostwriting in Dayton, Ohio. It has been edited for length and clarity.I’m the founder of Lisec Ghostwriting. I earned my BA in communications and, in 2018, a professional designation in ghostwriting. I’m also a certified hypnotist, which I feel helps me in my work.I started my career as a freelance writer, ghostwriter, and copywriter in June 2011, with my very first gig paying just $1.67 an hour.Since then, I’ve ghostwritten more than 100 books and, for several consecutive years, grossed over $1 million —…

Millennium’s founder, Izzy Englander, called hedge funds’ talent shortage a bubble. Citadel’s Ken Griffin described portfolio managers and the like as a “scarce resource” within a “profitable value chain,” noting that compensation would increase in such a situation because “that’s where the money flows,” in a 2025 talk.But for billionaire Elliott founder Paul Singer, the talent war in the $5.3 trillion hedge fund industry is “exaggerated” for several reasons, including the lack of a recent bear market and increased fees.In a letter sent to investors in late January, Singer said the evidence backing up the existence of the talent war is…

An AI startup CEO says she no longer has engineers at her company. Instead, they have become engineering managers who manage AI agents. Loading audio narration… Tatyana Mamut, CEO and cofounder of AI agent startup Wayfound.ai, says her team of two engineers is more productive than a large engineering team. Mamut, a former Amazon Web Services director who managed engineering teams of over 30 people there, says her two engineers can “ship code much faster.””The two engineers ship more features than my team at Amazon in 2017,” Mamut said.Now, coding agents like Claude Code do the engineers’ work, while humans…

A woman screams during a government-organized event to watch former President Nicolas Maduro and first lady Cilia Flores appear in a New York court on a screen in Caracas, Venezuela, Thursday, March 26, 2026. Ariana Cubillos/AP hide caption toggle caption Ariana Cubillos/AP NEW YORK — A U.S. judge pressed the Trump administration Thursday about its basis for barring Venezuela’s government from paying former President Nicolás Maduro’s legal fees in the drug trafficking case that has put him behind bars in New York. As Maduro and Cilia Flores, his wife and co-defendant, looked on in beige jail uniforms, his lawyers argued…

When Arinjay Jain turned 50, he was sitting in yet another meeting when it hit him: “What am I doing here?” Loading audio narration… Jain hadn’t always questioned the grind.He had moved from India to Singapore in 2013, when the IT company he worked for opened a local office. After changing jobs a few times, he cofounded a small IT services startup in 2016.He originally planned to build the company, sell it, and cash out. But as the years passed, the finish line felt increasingly distant.”I thought, this is looking like several years away still, and I will have to…

The US Treasury Department announced Thursday that President Donald Trump’s signature will appear on future US paper currency, marking the first time a sitting president’s name will be printed on American bills. Loading audio narration… Treasury Secretary Scott Bessent, in a press release, framed the move as symbolic, saying US currency should reflect the country’s economic standing under Trump’s leadership and serve as a marker of the nation’s “fiscal strength and stability.”The decision breaks with long-standing precedent. For more than a century, US banknotes have carried the signatures of Treasury officials — not the president.The Treasury said the move was…