Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
Jeff Bezos keeps shattering wealth records – first the richest man in the world. Then the richest man of our time. And now, the richest man in recent history – adjusted for inflation.
According to the Bloomberg Billionaires Index, Bezos’ fortune just crossed the $150 billion mark. That’s $55 billion richer than Bill Gates, at number two.
Bezos became the richest man a year ago. Then in January, he became the richest man “ever” ( or at least in modern times) after his fortune reached $104 billion – topping Bill Gates’ all-time high of just above $100 billion in 1999.
But some wealth-watchers didn’t consider Bezos’ fortune truly larger than the Gates high, since Gates’ $100 billion in 1999 wasn’t adjusted for inflation.
Gates’ $100 billion fortune in 1999 would be worth about $149 billion in today’s dollars. So today, Bezos officially passed the inflation-adjusted Gates high.
Bezos' fortune has more than doubled over the past two years as Amazon’s stock has soared. Earlier Monday, Amazon shares hit an intraday all-time high of $1,841.95, and the company's market value now tops $890 billion.
But there is still one wealth measurement that Bezos has yet to achieve — the wealthiest ever, as a share of national GDP.
John D. Rockefeller, who was the nation’s first billionaire, was worth 2 percent of the entire GDP of America at his peak in the early 1900s. For Bezos to top that measure, his net worth would have to climb to over $350 billion.
In other words, give him a year or two.