Bloomberg - Evening Briefing - No money to retire

More than one quarter of Americans have no money saved for retirement, according to a new survey. Almost one in five people age 59 and older said they didn’t have a retirement account, which compared to a quarter of Generation X respondents. And for those aging Americans who do have money socked away, inflation has thwarted their plans, worsening the $7 trillion retirement-savings shortfall. —Natasha Solo-Lyons

Charles Schwab executives said the firm can weather any residual turmoil roiling US banks while pausing stock buybacks. Though Schwab is grappling with longer-term stresses, the first-quarter results it posted Monday showed the company kept the trust of customers, who continued to add to its investment products. It’s shares closed up almost 4%.

Apple introduced a long-promised high-yield savings account with Goldman Sachs, turning to a key partner to push deeper into financial services. The new offering will let Apple Card users earn a 4.15% annual yield, more than 10 times the national average.

Switzerland’s secret bank accounts and political neutrality turned the small Alpine nation into a financial giant. Now the demise of Credit Suisse, one of its two big banks, has shaken global finance and created a megabank in UBS that comes with new and potentially bigger risks. 

Photographer: Stefan Wermuth/Bloomberg

Wells Fargo leaders are privately expressing increased concern that a years-long effort to unionize the bank’s employees could soon notch victories—and have made plans to spend millions of dollars addressing the “pain points” that fuel organizing efforts. 

Blackstone is trying to curb rising employee health costs with an AI-powered individualized approach to diabetes to reduce people’s reliance on costly new drugs.

Only 10 electric and plug-in hybrid vehicles will qualify for $7,500 federal tax credits in the US after stricter battery-sourcing rules take effect and render most plug-in models ineligible.

Elon Musk’s SpaceX delayed the highly anticipated launch of its next-generation Starship rocket, putting off for at least two days a key step needed to eventually send crewed missions into deep space.

SpaceX's Starship rocket at the company's Boca Chica, Texas launch pad. Photographer: SpaceX

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  Six New Luxury Resorts for Summer In Greece

  Last summer, everyone from Musk to footballer Mo Salah was seen on Mykonos, enjoying the sun, the Aegean sea and the island’s famous nightlife. Greece’s tourism industry, which accounts for 25% of the country’s gross domestic product, is booming, with a peak season that’s gradually doubled, or even tripled, in length.  Here are some of the most exciting recent openings and buzzy hotels set for this year.

  

  Cali Mykonos, with the longest infinity pool on the island Source: Bloomberg

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