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US household wealth tops $100 trillion for first time

4 months, 10 days ago
WASHINGTON: US household wealth topped the $100 trillion mark for the first time ever in the first quarter of 2018, the US Federal Reserve said on Thursday. Rising US house prices, a market suffering a long-term shortage, pushed up the…

Hong Kong’s richest woman sees her wealth halved

6 months, 30 days ago
HONG KONG: Hong Kong's richest woman Pollyanna Chu has seen more than half of her wealth wiped out in the last three months after warnings from regulators about her company led to stock plunges. Chu's Hong Kong-listed Kingston Financial…

Britain steps up fight against dirty London property

1 year, 5 months ago
LONDON: Britain took a significant step towards exposing dirty money in the London property market this week, passing a law allowing the seizure of homes from foreigners who cannot explain how they paid for them.…

‘Eight men own half the world’s wealth’

1 year, 9 months ago
LONDON: Eight men own the same wealth as half the world's population, a level of inequality which "threatens to pull our societies apart", Oxfam said on Monday ahead of the World Economic Forum opening in Davos. The wealth of the world's…

Ambani loses India rich list top spot to pharma tycoon

3 years, 7 months ago
MUMBAI: A fall in oil prices saw Mukesh Ambani cede his status as "India's richest man" on Thursday to pharmaceutical tycoon Dilip Shanghvi, who edged to the top of Forbes' list of billionaires in the country.