The bottom line
Hong Kong has passed New York as the city with the most multimillionaires. More than 10,000 people living there have $30 million in assets, compared with New York’s 8,900. Twenty-six of the 30 fastest-growing cities in the world for the ultra-wealthy are in China.
Of the roughly 8,300 million metric tons of plastic that have been produced to date, about 60 percent is believed to be floating in the oceans or stuffed in landfills.
The New York Times
American teenagers now say they prefer texting to talking to friends in person, according to research from Common Sense Media. In a survey, 35 percent chose texting as their favorite form of interaction—versus just 32 percent for in-person conversations. Roughly 89 percent of teenagers now have their own smartphone, up from 41 percent in 2012. The majority of those surveyed also acknowledge that apps regularly wake them up at night and distract them from homework.
The average monthly cost for U.S. child care now sits at $1,385—inching closer to the country’s median monthly rent of about $1,500, according to Care.com. In-home care runs to an average of $28,354 annually, and day center child care costs are on average $9,589.
One sector of manufacturing where America remains a leader: computer chips. The U.S. exports $44 billion in semiconductors annually, making them America’s fourth-largest manufacturing export after cars, airplanes, and refined oil. There are roughly 80 wafer-fabrication plants in the U.S., based in 19 states.