The US has overtaken Switzerland as the world’s richest country in terms of wealth per household. On September 27, Allianz unveiled the eighth edition of its "Global Wealth Report", which puts the asset and debt situation of households in more than 50 countries under the microscope. At the top of the list of the 20 richest countries (net financial assets per capita, see table), a changing of the guard occurred in 2016, with the United States capturing the top spot from Switzerland.However, its lead is razor-thin and some of the credit goes to a stronger dollar.
Finlantern’s Fiscal Forum, at its fourth edition, once again created an environment where enterpreneurs and investors were able to meet new potential clients, and in general create networking opportunities, but also learn the benefits of internationalization, and meet tax advisors.
Switzerland's consumption improved in August thanks to robust new car registrations and encouraging numbers of hotel stays, data from the UBS investment bank showed Wednesday. The consumption indicator rose to 1.53 points in August from revised 1.46 in July. The index suggested that consumption growth was slightly above the long-term average of 1.5%. The consumption indicator was altered after the Federal Statistical Office revised consumption figures for previous years in late August.
Switzerland is the world’s most competitive economy for a ninth straight year, the Geneva-based World Economic Forum said on Wednesday. Since suffering a rare blip in 2008, when it was nudged into second place by the United States, the Swiss economy has maintained an efficient but unshakeable grip on the top spot in the WEF annual ranking .
David Perry plans to end the main operations of TeamCo Advisers LLC by early 2018 and ultimately shut the firm, he told Reuters in an interview, making his San Francisco-based business the latest casualty in the struggling fund of hedge funds industry. Firms like TeamCo that manage portfolios of hedge funds for wealthy individuals and institutional investors have come under pressure as the performance of their underlying investments has lagged, making it harder for them to justify their extra layer of fees.
The September FOMC meeting did not result in an immediate interest rate hike, but it seems highly probable that there will be a December interest rate increase while balance reduction should start in October with further interest rates increases in 2018. Experience indicates that the Fed is getting ready to bring about a recession as soon as markets take the hint that the days of easy money and cheap credit are coming to an end.
For the second year in a row, Bangkok is poised to be the most popular city in the world for international travelers. The Thai capital is projected to welcome nearly 20.2 million international overnight visitors this year, according to a report by financial services corporation Mastercard. Mastercard's 2017 Global Destination Cities Index looks at visitor volume and spending to rank 132 top destination cities.
Food giant Nestle on Tuesday set a formal margin target and confirmed it wants to return to mid-single-digit organic sales growth by 2020. “The company will detail how it will reach its mid-single digit organic growth target by 2020, and will announce an underlying trading operating profit margin target of 17.5-18.5 percent by 2020,” the Swiss maker of KitKat chocolate bars and Nespresso portioned coffee said ahead of a highly anticipated investor seminar, the first time its new chief executive will lay out his strategy for Europe’s largest company.
Cristiano Ronaldo, said to be the world’s most highly paid football player, is lending his name to promoting contracts for difference (CFDs) derivatives, which regulators across Europe have been seeking to clamp down upon due to the high risk of deep losses to retail investors they can entail. The mercurial Portugal and Real Madrid forward tweeted his 59 million followers last month to say, “Happy with my new partnership with @EXNESS”. He also retweeted a statement from Exness in which he says:”It’s an honour to partner with an international company that gives back to the world not only in offering the highest quality of services but also in fostering a socially conscious culture.
The caspian week conference is a meeting point of visionaries, market leaders and experts with the f
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