Wealth

Indonesian skills crunch cripples Jokowi’s path to wider wealth

Only 17% of the 127m Indonesians with jobs have finished high school, while less than 10% have a university degree
Jakarta • As Indonesia’s Joko Widodo ...

It will take Britain until 2099 to double wages

London • UK workers will have to wait until the end of the century to see real wages doubling if the current pace of pay growth continues, according to the ...

‘Work less’ is billionaire Maezawa’s secret behind SpaceX moon trip

Tokyo • Japanese billionaire Yusaku Maezawa said working less, not more, is the reason why he’s been able to build an US$8.4 billion (RM34.94 billion) ...

World’s largest wealth fund says firms pay CEOs wrong

‘Different companies require different drivers to create value — find compensation programmes should reflect that’
NEW YORK • Norway’s US$1 trillion ...

Ultra-rich families ride surging stocks to double annual returns

LONDON • These are heady times for the world’s richest clans.
Family offices scored average returns of 15.5% last year, up from 7% in 2016 and 0.3% ...

Tencent looks for a bottom after RM613.5b wipeout

This comes as game revenue growth slows and US-China trade tensions punish wide swaths of the market
by BLOOMBERG HONG KONG • Investors in Tencent ...

SWFs’ US buying binge may end soon

DUBAI • It’s too early to call it, but the US buying binge by sovereign wealth funds (SWFs) may end soon, according to Bank of America Corp.
...

World’s biggest sovereign wealth fund delivers record return

by BLOOMBERG
OSLO • Norway’s sovereign wealth fund delivered its biggest return on record in 2017, capping a year in which it passed the US$1 trillion ...

Bank of America to open 500 US branches, expand into Ohio

by BLOOMBERG
NEW YORK • Bank of America Corp (BoA) plans to open 500 branches across the US during the next four years, including an expansion of its ...

Ultra wealthy drawn to Italy lured by tax break, official says

by BLOOMBERG
LONDON • Millionaires from Russia to Norway and the US are seeking to take advantage of Italy’s low tax rates for the super-rich. In an ...

Scotiabank to buy Jarislowsky Fraser, add RM126.1b assets

by BLOOMBERG
TORONTO • Bank of Nova Scotia (Scotiabank) agreed to buy Canadian money manager Jarislowsky Fraser Ltd for about C$950 million (RM2.97 ...
UBS

UBS said to hire ex-Morgan Stanley banker for Saudi richest

by BLOOMBERG
DUBAI • UBS Group AG hired a former Morgan Stanley banker to run its ultra-high net worth business in Saudi Arabia as the bank ...