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The CNBC Elite Advisors list is here. The inaugural list recognizes 25 of the nation’s leading investment advisors serving ultra-high net worth individuals and family offices, selected for their expertise in advising clients with investable assets of $25 million or more. See the full list: cnb.cx/4epEAce
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Multiple Western European countries have spent this week grappling with record-smashing heatwaves, with red alerts issued in the U.K., France, Germany, Switzerland and Italy that warn of “a risk to life for even the healthy population.” Temperatures soared well above 40 degrees Celsius (104 degrees Fahrenheit) in various regional towns and cities, with “tropical nights” offering little respite from the well-above-average June heat. Old buildings and infrastructure, limited uptake of air conditioning and little acclimatization to those highs mean European populations are less equipped to cope with such temperatures than other parts of the world. Read more: cnb.cx/3SzLSl5
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Beverage brands are cashing in on the growing demand for functional drinks among younger, health-conscious consumers by introducing increasingly innovative offerings, including protein-boosted coffees and CBD-infused sodas. The $160 billion global functional drinks market has become an increasingly lucrative category, encompassing multipurpose drinks that claim to promise taste and enjoyment alongside wellness benefits, as consumers look for convenient ways to meet their health targets. Read more: cnb.cx/4xUnVVA
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Investors can still enjoy solid yields in the bond market right now, but selectivity matters, according to Charles Schwab's mid-year outlook. The firm expects inflation to stay sticky and the Federal Reserve to remain patient. However, a rate hike seems a little bit more likely after the June Fed meeting and latest hot inflation report, said Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research. Read more on CNBC Pro: cnb.cx/4xRh8fp
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Investors continue to rely on professional financial advisers for their final investment decisions, even as artificial intelligence becomes more widely used in the initial stages of research, according to a survey by HSBC. The survey, which polled around 10,000 affluent and high-net-worth individuals across 10 markets, found that 62% use financial professionals and institutions as their main source of investment ideas. Click here to read more: cnb.cx/4v866QE
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