Booms and busts and scams and panics have changed Wall Street in many ways over the decades, but one thing has stubbornly remained the same:
The top jobs have always gone to men.
Now, that last citadel is about to fall.
Come February, Jane Fraser will become the first woman to lead a major financial institution in the United States when she takes the reins at Citigroup, the country's third-largest bank.
Ms. Fraser, who has been at Citi for 16 years and runs its biggest global division, the consumer bank catering to individual customers, will succeed Michael Corbat as chief executive.
Ms. Fraser's ascension is groundbreaking on Wall Street, which has never quite shaken off its longstanding reputation as a boys club, with men dominating the upper ranks of banks and other financial firms, despite efforts to recruit and promote more women.
Costco's business model focuses on high volume sales and efficient inventory management, where you can buy goods in bulk at rock-bottom prices.
But, you will be surprised to know that Costco earns little revenue by selling goods, but generates enormous revenue by selling membership subscriptions.
Costco mainly offers two types of memberships - Gold Star and Executive, costing $60 and $120, respectively, and over 112 million people had paid for a yearly membership in 2021.
Residents in China's financial hubs say they're going hungry.
Many people have been unable to leave their homes to buy food since late March.
That's because Shanghai officials began a citywide lockdown to tame the country's biggest COVID -19 outbreak in the past two years.