"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
Less than a quarter of the world's billionaires are expected to hand down $2.1 trillion in wealth to their children or family over the next 20 years, creating one of the biggest billionaire wealth transfers in history.
UBS and PwC's "Billionaire Insights" report analyzed 1,397 of the world's 2,000-plus billionaires. It said that 460 of them plan to transfer a fortune equal to the GDP of India by 2036.
These billionaires, who are older than 70 years, hold more than 40 percent of billionaire wealth.
In Asia's young economies, 85 percent of the billionaires are first-generation, making this transfer of wealth the first of its kind. The shift in wealth to the next generation could have huge impacts on the consumer economy, the businesses that are inherited and philanthropy.
"If you think about the acceleration of billionaire wealth just over the past 10 years alone, we've been through what we call the second gilded age," said John Mathews, head of private wealth management for UBS. "These families all have decisions to be made. Do they want to pass it directly down to the next generation, or what are the other strategies and structures they can put in place?"
The $2 trillion transfer may lead to a surge in philanthropy and values-based investing, as millennials — who may be inheriting much of the billionaire wealth — believe in "doing good by doing well," according to the report. "They see business success as a way of benefiting society."
They are also "eager to put their resources to work for social good" through philanthropy.
Yet many will inherit their family companies, rather than cash or an investment portfolio.