Ten years from the onset of the global financial crisis, global wealth has grown by 27%, according to Credit Suisse Research Institute’s 2017 Global Wealth Report.
The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn, according to Credit Suisse’s global wealth report published on Tuesday.
Apple wants to have a standalone augmented reality headset ready for use by 2019, according to a new report from Bloomberg. The company’s interest in the technology is well-established, with CEO Tim Cook stating in a recent earnings report that Apple believes “AR is going to change the way we use technology forever.” The company took a first major step into augmented reality this year with the launch of ARKit in iOS 11.
Sweden and Switzerland have been suffering from a long-standing problem; people keep confusing them. It may seem unlikely to the seasoned traveller but it’s been a long-running bone of contention for proud residents of both countries. Now one airline is aiming to end that confusion by offering people a trip to Swederland.
With the number of digital transactions around the world increasing by the day, Facebook is also looking to improve users’ payment experience on its platform. Making a move in the same direction, the company may soon start testing “red envelope” payments feature that will allow users to send money to others on the platform.
The fortune of Amazon founder Jeff Bezos surged by as much as $6.6bn (£5bn) in extended trading on Thursday after the retailer reported third-quarter results that topped Wall Street estimates.
If the gains hold through on Friday, Mr Bezos will probably overtake Microsoft co-founder Bill Gates atop the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people. Amazon climbed 8.5 per cent to $1,055.01 at 4:30 pm in New York.
The wealth held by the world’s billionaires jumped by nearly $1 trillion in 2016, and they now have more money than the GDP of the entire European Union, according to a new report.
The population of billionaires rose by 145, or about 10 percent in 2016, to 1,542 billionaires, according to the report by UBS and PwC. The wealth held by those billionaires increased from $5.1 trillion to $6 trillion, according to the report. And Asia now has the most billionaires in the world, surpassing the U.S. for the first time with a new billionaire minted on average every other day in 2016.
Ryanair is to postpone its new cabin bag policy until January 15, 2018 "to allow customers more time to adjust to the changes", it says. The new policy, which was to have come into effect from November 1st, axes free 10kg carry-on bags for all but Priority Boarding Customers.
Passengers who do not pay its €5 priority fee will have to check the larger of their two cabin bags (10kg, 55cm x 40cm x 20cm) into the hold at the boarding gate.
Harvard Business Review has released its annual list of the 100 best-performing CEOs and this year’s top performer is Pablo Isla, head of Spanish retailer Inditex, best known for its flagship fashion brand Zara.
“We think it’s important to recognize leaders who are delivering strong financial performance and creating sustainable businesses over the long term – not just quarter to quarter,” said HBR Editor in Chief Adi Ignatius.
