Ray Dalio, founder of the hedge fund Bridgewater Associates said in an interview that the recent Trump tax cuts could lead to even bigger gains in the stock market. And he added quote, "If you’re holding cash, you’re going to feel pretty stupid."
More than 80 per cent of the all the wealth generated globally last year flowed into the coffers of the richest one per cent of the population, a new Oxfam report has revealed.
The research, published on Monday, also shows that the 3.7 billion individuals who make up the poorest half of the global population saw their wealth flatline in 2017 – something that the group of charities describes as “unacceptable and unsustainable”.
Walmart, the world’s largest private employer, is boosting its starting salary for U.S. workers to $11 an hour, handing out one-time cash bonuses to those who don’t benefit from the pay hike and expanding its maternity and parental leave benefits. The retailer said Thursday that changes to its compensation and benefits policy will impact more than a million hourly workers in the U.S. The company employs 1.5 million people in the U.S.
A cryptocurrency mogul is now one of the richest people in the world – at least on paper. Chris Larsen, the cofounder, executive chairman, and former CEO of the cryptocurrency company Ripple, became the world’s fifth wealthiest person as the price of Ripple’s XRP cryptocurrency soared past the $3 mark this week.
The price of Bitcoin increased by 13.5 per cent to US$15,017 ($21,187) after a report found billionaire Peter Thiel, an early investor in Facebook and co-founder of Paypal, had heavily invested in the cryptocurrency.
Co-founded by high-profile investor Peter Thiel and based in San Francisco, Founders Fund has bought $15 million to $20 million worth of bitcoin across several of its recent funds, the Wall Street Journal reported, citing anonymous sources
The world’s 500 richest people have increased their wealth by $1tn so far this year due to a huge increase in the value of global stock markets, which are likely to finish 2017 at record highs.
The big increase in the fortunes of the ultra-wealthy comes as billions of poorer people across the world have seen their wealth standstill or decline. The gap between the very rich and everyone else has widened to the biggest it has been in a century and advisers to the super-rich are warning them of a “strike back” from the squeezed majority.
Total economic losses from natural and man-made disasters rose sharply in 2017 partly due to hurricanes and wildfires, Swiss Re AG said Wednesday, with insured losses for the industry more than doubling.
Swiss Re estimates that total economic losses reached $306 billion in 2017, a 63% increase over 2016, based on Swiss Re’s preliminary data. Global insured losses from catastrophes in 2017 are estimated to be $136 billion, the company says, the third-highest on the company’s records. The 2017 figure compares with $65 billion the prior year and is well above the ten-year average of $58 billion.
Fans of the iconic Hermès Birkin bags are beating the long waiting list by scoring the bags at auctions. The much sought-after Birkins have been continuously breaking auction records.
A rare Hermès Birkin bag sold at auction early Wednesday morning at Christie’s in Hong Kong for a whopping $382,000. It’s set a record as the priciest handbag ever sold at auction. The collector, who won the bid by phone, is not from Asia.
