More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
James Bullard said he dissented on this week's Fed decision to lower rates by a quarter percentage point because he didn't think the cut was big enough.The Fedread more
Apple will get a taste of whether upgraded features on the new iPhone 11 are enough to lure shoppers to retail stores around the world as the new smartphones officially hit...Technologyread more
The complaint made by an unnamed intelligence official about the president centers on Ukraine, the Washington post reported.Politicsread more
As tensions might drag over the next decade, investors have to learn to operate under prolonged uncertainty, said Warburg Pincus' Charles Kaye.World Economyread more
U.S. Vice President Mike Pence on Thursday struck an unyielding tone on America's position in its trade war with China.Delivering Alpharead more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
The wealthiest households in the U.K. are still getting richer—but not by much. The richest 20 percent owned just one percentage point more of the country's total household wealth in 2012 than they did at the start of the financial crisis in 2008.
The wealthiest 20 percent of households owned 63 percent of total wealth in 2012, up from 62 percent in the years 2006-2010, figures from the Office of National Statistics (ONS) reveal.
And while the popular image of a billionaire is a brash young playboy, it looks as though amassing your wealth is a long-term task: In the wealthiest 10 percent of households in the U.K., who own 44 percent of total household wealth, 22 percent of them were 55-64 years old.
The report found individuals in this age group are still in the "wealth accumulation phase" and income, such as earnings from employment, enable opportunities to increase total wealth.
Individuals aged between 25-34 years old were the least likely to live in households at the top total wealth band, with just 3 percent of this age group fitting into this category.
Research conducted by Oxfam in March this year showed five of the richest families in the U.K. own more wealth than the poorest 20 percent of the country, a statistic the charity described as "deeply worrying".
Sports Direct boss Michael Ashley and real estate investor Gerald Grosvenor are among five billionaires, who are collectively worth £28.2 billion ($46.9 billion), more than the £28.1 billion wealth of the bottom 12.6 million people in Britain, Oxfam revealed, citing figures from Forbes magazine.
"It's deeply worrying that these extreme levels of wealth inequality exist in Britain today, where just a handful of people have more money than millions struggling to survive on the breadline," Ben Phillips, Oxfam's director of campaigns and policy, said at the time of the report.
Total wealth, including pension savings of all private households in the U.K. was £9.5 trillion in 2012, up from £9 trillion in 2010 and £8.4 trillion in 2006, the ONS said.