News

Chinese buy Cheesegrater

The “Cheesegrater”, the tallest building in the City of London, has been sold to a Chinese property tycoon for £1.15bn, the second biggest ever sale of a UK building. The developer behind the 224-metre tower, British Land, and its joint venture partner Oxford Properties, the global property arm of a Canadian pension fund, have sold […]

Parliament considers Brexit jobs crisis

As the hard truth starts to set over the dangers to the UK economy of losing hundreds of thousands of EU workers, a parliamentary committe has been hearing evidence from experts. London would “grind to a halt” without a continued flow of both high and low-skilled labour allowed into the country, said Colin Stanbridge chief […]

Ex-UBS pair target Israeli tech boom

Two former UBS Group bankers are exporting their Swiss private-banking advisory business to Israel as a boom in the country’s technology industry prompts a rise in the number of millionaires and money managers. Zurich-based Zwei Wealth Experts AG, founded by Patrick Müller and Klaus Wellershoff, opened their first overseas office in Tel Aviv this month. The company is […]

Fat salary ‘not enough’

Big tech companies pay some of the country’s best salaries. But workers claim the high cost of living in the Bay Area has them feeling financially strained, reports The Guardian. One Twitter employee cited in the story, who earns a base salary of $160,000 a year, said his earnings are “pretty bad”, adding that he […]

Norway’s SWF doubles gains

Norway’s sovereign wealth fund, the world’s biggest and a key investor in Apple and Alphabet, earned more than $53 billion last year as equity returns surged and offset a rise in the Norwegian kroner, the government said on Tuesday. Norway’s Government Pension Fund Global fund returned 6.9%, or Nkr447 billion ($53.5 billion) last year, the state-controlled […]

Signposts in troubled times

The theme of the third annual Monaco Wealth Forum is “Signposts in troubled times,” a reflection of the forward-looking nature of this top event. Topics to be covered at the Monaco Wealth Forum on March 15 include: Where are we now? An examination of the international situation and its impact on wealth issues, led by […]

Wealthy lost billions – Buffet

Iconic investor Warren Buffett, chairman and CEO of Berkshire Hathaway, calculates that the wealthiest investors have lost billions in search for superior returns in the market. “The wealthy are accustomed to feeling that it is their lot in life to get the best food, schooling, entertainment, housing, plastic surgery, sports ticket, you name it. Their […]

Millionaires ‘have no country’

With all the debate over immigration in the United States and Europe, one group of immigrants is getting a red-carpet welcome around the world: millionaires. Last year, a record 82,000 millionaires moved to another country, according to a new study. While their numbers are a small fraction of the world’s migratory population, and of the […]

Aramco ‘overvalued’ – Bloomberg

Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple Inc. twice, and still have room for Google parent Alphabet Inc, Bloomberg reports. The kingdom may have to settle for less. A lot less. Industry executives, analysts and investors told Bloomberg their analysis – based on oil […]

RBC examines Asian business

Royal Bank of Canada (RBC), the country’s biggest lender, has put its Asian wealth management business under review, which could lead to its sale, four people familiar with the matter told Reuters. The Canadian bank’s move comes after several Western firms have withdrawn from private banking in Asia, hit by pressure to reduce costs at […]