The United Arab Emirates has been recognized as the world’s leading wealth magnet for the third consecutive year, according to the latest research by Henley Private Wealth Migration Report. The report projects an unprecedented net inflow of 6,700 millionaires into the tiny Gulf nation by the end of 2024. This number is significantly higher than
Zilch, a British fintech firm, recently announced a $125 million debt financing deal with Deutsche Bank, aimed at accelerating the company’s growth and potential IPO. This move signifies a strategic shift in Zilch’s approach to funding its operations and expanding its market presence. The debt financing from Deutsche Bank is structured as a securitization, allowing
The issue of heirs’ property poses a significant threat to the transfer of wealth from one generation to the next, affecting more than $32 billion in assessed values of U.S. property. When homeowners die without a will, the property is informally passed on to multiple descendants, leading to non-formal ownership. This can create obstacles in
As the $84 trillion Great Wealth Transfer approaches in the next decade, Generation X is poised to emerge as the primary beneficiaries. While millennials and Generation Z may be anticipating substantial inheritances from the wealthy baby boomers, it is actually Gen Xers who are projected to receive the largest windfalls in the near future. According
Senator Elizabeth Warren has accused Federal Reserve Chair Jerome Powell of acting in favor of the financial industry by considering changes to regulations that would impact the capital requirements of large American banks. According to Warren, Powell’s alleged advocacy for reducing the required increase in capital under the Basel III Endgame rules raises concerns about
Xreal, an Alibaba-backed startup, has recently launched its latest product called the Beam Pro. This innovative device allows users to view games and movies on Google Play Store apps in three dimensions using augmented reality glasses. The Beam Pro, which resembles a smartphone, serves as a virtual mouse and connects the AR glasses to various
Warren Buffett’s Berkshire Hathaway has been steadily increasing its holdings in Occidental Petroleum over the past nine trading sessions. The conglomerate purchased an additional 7.3 million shares, bringing its stake in the Houston-based oil and gas producer to nearly 29%. This series of purchases has solidified Berkshire Hathaway as Occidental’s largest institutional investor. Occidental Petroleum
For the past year, American workers have experienced a boost in their purchasing power, thanks to a combination of falling inflation and a strong job market. This positive trend in real hourly earnings has provided a welcome relief for households facing challenges in affording everyday expenses. According to the U.S. Bureau of Labor Statistics, the
Boeing, one of the leading aircraft manufacturers in the world, is currently facing a severe crisis related to its company culture. The CEO, Dave Calhoun, has admitted that the company’s culture is “far from perfect,” acknowledging that there are significant issues that need to be addressed. As fresh whistleblower claims surface, it becomes apparent that
In 2024, Hong Kong maintained its title as the most expensive city for expats to live in. The survey conducted by Mercer revealed that Asia’s major financial centers, including Singapore and Zurich, also made it to the top of the list. Notably, cities in Switzerland – Zurich, Geneva, Basel, and Bern – claimed four out