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The $19 billion portfolio manager sees ‘lost years’ for the S&P 500. Here’s where he thinks investors should be saving money instead.

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The $19 billion portfolio manager sees 'lost years' for the S&P 500. Here's where he thinks investors should be saving money instead.

The days of putting your money in the S&P 500 and forgetting about it may be in the rearview mirror. Loading audio description… That’s according to Richard Bernstein, longtime analyst and chief investment officer of Richard Bernstein Advisors. Speaking to Business Insider this week, the portfolio manager said he’s worried about a “lost decade” that … Read more

New York’s pension sweeteners can cost $1.5 billion a year

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New York's pension sweeteners can cost $1.5 billion a year

A union plan to improve retirement benefits for newly hired public workers would cost taxpayers about $1.5 billion a year, according to people briefed on the proposal. The union’s plan to change the Tier VI pension law is the beginning of making changes as part of the state’s $263 billion budget, officials said. The proposal … Read more

Africa is looking at its “Strait of Hormuz” as 20 billion euros in Spain-Morocco Gulf is growing amid global risks.

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Africa is looking at its "Strait of Hormuz" as 20 billion euros in Spain-Morocco Gulf is growing amid global risks.

The growing conflict in the Strait of Hormuz is causing countries to re-evaluate global trade routes and explore new ways to reduce exposure to potential obstacles. The rush has increased amid warnings that any long-term disruption to the flow of oil could disrupt global oil supplies and push prices up sharply, with some estimates suggesting … Read more

The fastest growing banks in the world are in Africa, but the revenue of $100 billion tells only part of the story.

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The fastest growing banks in the world are in Africa, but the revenue of $100 billion tells only part of the story.

But under the headline image there is a more complex reality: strong growth, high profits, however much of the speed is uneven, concentrated, and partly destroyed by currency fluctuations. A new report by McKinsey & Company shows that the banking sector in Africa generated about $99 billion in 2024 and is estimated to reach about … Read more