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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. Despite growing fears of a ” sell America ” trade, American family offices are ramping up their bets on the U.S. economy and stocks, according to a new survey. U.S. family offices, the private investment arms of wealthy families, had 86% of their portfolios in North America in the first quarter, up from 74% in 2020, according to the UBS Global Family Office Report. In the…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe US House of Representatives has passed Donald Trump’s showpiece tax bill by a single vote after days of wrangling between disparate factions of his Republican party, paving the way for the first big legislative success of his second term.The Republican-controlled House voted at about 7am in Washington by 215-214 to approve the more than 1,000-page legislation, which would slash taxes, reduce social spending and increase federal debt.It now goes to the Senate, where the Republicans hold a slim majority.…

JPMorgan’s CEO Jamie Dimon says he recognizes China’s accomplishments in uplifting its people, even though he considers himself an “American patriot capitalist.””They have done an enormous job over the last 20 years lifting up their people,” Dimon told Bloomberg in an interview in Shanghai on Thursday local time.”That doesn’t mean I personally agree with everything they did. I’m a full-throated, red-blooded American patriot capitalist. But I understand that they can lift up their country,” Dimon continued.This isn’t the first time Dimon has acknowledged China’s economic accomplishments.”Over the last 20 years, China has been executing a more comprehensive economic strategy than…

Walmart is laying off corporate staff in the US to “remove layers and complexity.”The retailer will lay off 1,500 employees, The Wall Street Journal reported on Wednesday, citing people familiar with the matter. Bloomberg, citing anonymous sources, reported that the layoffs were in the company’s Arkansas headquarters and other offices.The retailer’s US CEO, John Furner, and global technology chief, Suresh Kumar, announced the layoffs in a Wednesday memo to corporate staff titled “Building for the future,” seen by BI.”We are reshaping some teams in our Global Tech and Walmart U.S. organizations where we have identified opportunities to remove layers and…

The days of revenge travel are over. After years of being cooped up at home, travelers rushed into the world with a vengeance, sparking a major travel boom from 2022 to 2024. But years of rising prices and a slew of new tariff threats have cast uncertainty over the economy.A summer vacation survey by Bankrate in March found that only 53% of Americans said they planned to take a vacation this summer — about the same as last year but a drop from 2023, when 63% planned to take a vacation. Of those forgoing travel this year, 65% cited cost…

William Fischer was in Peru, about to embark on a motorcycle tour around South America, when he got an offer he couldn’t refuse — a job offer, that is. A US-based fintech startup reached out in spring 2024, and Fischer was intrigued. The only hiccup: They were 100% in office, no exceptions. The mandate didn’t jibe with his LatAm-by-bike plan, or the digital nomad lifestyle he’d lived since 2021, working remotely while traveling to Spain, Mexico, and South Africa, among other locales. He tried to negotiate with his soon-to-be employer, asking to split time between New York and South America…

To retire early, some Americans aren’t climbing the corporate ladder to earn more — they’re secretly working multiple remote jobs simultaneously and banking the surplus earnings.Last year, Daniel earned about $280,000 juggling two remote roles in the medical field. Before becoming overemployed in 2021, he wasn’t sure retirement was even realistic: With expenses like his children’s college tuition looming, he said it was hard to put enough toward long-term savings. However, his net worth grew to $1.6 million from $1 million since 2022, and he’s aiming to retire around the age of 59.”I will be able to retire when I…

Jane Goodall, 91, may be one of the world’s leading primatologists now, but there was a time when she wasn’t being taken seriously.During an appearance on Tuesday’s “Call Her Daddy” podcast, Goodall reflected on the challenges she faced in her decadeslong career.Goodall told podcast host Alex Cooper that her love for animals started when she read “Tarzan of the Apes” as a child.”Anyway, I knew there wasn’t a Tarzan. But that’s when my dream began,” Goodall said. “I will grow up, go to Africa, live with wild animals, and write books — no thought of being a scientist.”Most people around…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump is on the verge of securing passage of his flagship tax and spending legislation in the lower chamber of the US Congress.The sprawling bill, which would slash US taxes and increase spending, is the centrepiece of the president’s second-term agenda and has been at the centre of a fierce battle among Republicans in the House of Representatives. Lawmakers are divided over spending on health and social care programmes and fears over the country’s ballooning debt. The president has…

Wegovy injection pens arranged in Waterbury, Vermont, US, on Monday, April 28, 2025. Shelby Knowles | Bloomberg | Getty ImagesOnly half of health insurer Cigna’s clients currently cover the popular GLP-1 weight loss drugs Wegovy and Zepbound because of their high costs. But the company’s pharmacy benefits unit Evernorth has reached a deal with drug makers Ely Lilly and Novo Nordisk which it said will bring prices down for employers and their workers.”This solution is really focused towards clients that aren’t covering it today, and what it allows us to do is one, to bring it on at a reduced…