Credit Suisse fined $135m for NY forex investigation

Credit Suisse fined $135m for NY forex investigation

Credit Suisse fined $135m for NY forex investigation

In its Annual Global Wealth Report, the research arm of Swiss banking giant Credit Suisse found that global wealth had expanded 27 percent in the past 10 years. The number of ultra rich in the country is expected to reach 3,72,000 while the total household income is likely to grow by 7.5 per cent annually to touch $ 7.1 trillion by 2022, the report said.

The Global Wealth Report also presents a dire outlook for the world's young adults, referred to in the document as "unlucky millennials".

THE richest 1 per cent of people in the world now own half of the planet's wealth, according to a new report that highlights breathtaking levels of global inequality.

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And since year 2000, the number of millionaires globally has increased 170 percent, while the number of people with more than $30 million to their name has ballooned five-fold to around 45,000 worldwide, the study showed.

The wealthy in the United States saw the biggest gains, accumulating more than half of the $16.7 trillion in new wealth created since 2008.

The number of millionaires in the USA just hit an all-time high, a new banking report finds. There are 1,820 adult Indians who have wealth over $50 million, and, at the very apex, 760 have more than $100 million. Adults between the ages of 20 and 29 especially "faced the rigors of the financial crisis and the high unemployment that followed in many countries, and have also been widely hammered by high housing prices, rising student debt, and increasing inequality", according to the report.

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According to the eighth edition of the Global Wealth Report, in the year to mid-2017, total global wealth rose at a rate of 6.4 per cent, the fastest pace since 2012 and reached $ 280 trillion.

It pointed to "widespread gains in equity markets", at the same time as non-financial assets like real-estate for the first time passed the level they were at when the global financial crisis struck in 2007. Most of these influences have been positive during past 12 months, including in India, where market capitalisation rose by close to 30 per cent, house prices by around 10 per cent, while Indian rupee rose 4 per cent against the U.S. dollar.

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