The chief executives of U.S. banks have been paid handsomely since 2004, with the average boss making three times as much as their counterparts around the globe, according to Bernstein report. The research examined chief executive pay across 25 banks in the US, Europe and Asia for the past 13 years and it shows that US banks have persistently paid more than rivals in the rest of the world based on 2016 data.
Monaco, the home of the Grand Prix, was by far and away the leader of cities with millionaires as some 30.6% of people living in the city have a net worth over $1m, according to Business analysis service Verdict and GlobalData WealthInsight. The study calculated millionaire density based on the percentage of residents with assets over $1m, excluding the value of the first home.
Geneva and Zurich ranked in second and third, but density was well under that of Monaco’s, with 6% and 5.2% respectively. They fell significantly on the previous year, however, when Geneva had 17.7% density and Zurich has 24.3%.
The gap between the salaries of managers and other staff members continues to grow, according to the Swiss employees’ association, Travail.Suisse published on Thursday.
Between 2011 and 2016, the wages of managers increased by 17% on average, compared to 3.4% for employees showing that for swiss CEO salaries rose by 5%.
MIT has been ranked as the top university in the world in the latest QS World University Rankings. This marks the sixth straight year in which the Institute has been ranked in the No. 1 position. Stanford University came in at second, while prestigious Ivy League university Harvard came in third. MIT earned a perfect overall score of 100.
United Kingdom heavyweights Cambridge, Oxford, UCL and the Imperial College of London all made it inside the top 10.
After several years of snatching the prize from each other, Google has managed to fight off Apple to defend its position as the world’s most valuable brand in Kantar Millward Brown’s 2017 BrandZ ranking.
The internet giant has extended its lead after achieving a 7% increase to $246bn, compared to Apple’s 3% rise to $235bn, meaning there is now a 4.4% value difference between to two global leaders. Last year it was far closer at 0.3%.
Microsoft (third) and Facebook (fifth) have also managed to retain their positions in the top five, with the former increasing brand value by 18% to $143bn and Facebook seeing a 27% boost to create a brand value of $130bn. The annual BrandZ ranking, which is compiled by WPP consultancy Kantar Millward Brown, is based on a combination of millions of consumer interviews and each company’s financial performance.
Hong Kong maintained its hold on the top of the rankings as the world most competitive economy once again, the annual rankings compiled by the IMD World Competitiveness Center in Switzerland shows.
Switzerland and Singapore came in second and third, while the United States ranked fourth, its lowest position in five years and down from third last year.
A measure reflecting the trends in the Swiss economy rose modestly in April, suggesting average private consumption growth, results of a survey by the UBS investment bank showed Wednesday.
The UBS consumption indicator rose to 1.48 points in April from 1.44 in March, which was revised from 1.50.
Tech giant Apple has been named the most valuable brand in the world for a seventh consecutive year, worth $170 billion. Its brand value is up 10% over last year and represents 21% of the company’s recent market value of $806 billion, a 10 per cent increase on the figure for 2016. Google ranked second place, whose brand value has risen $19.3bn from last year to just under $102bn, according to Forbes. It’s the second straight year Google has placed second to Apple, and it is closing the gap with a 23% gain this year after a 26% jump in 2016.
