'Billionaire bonanza' driving huge global inequality, says Oxfam
London
FOUR out of every five dollars of wealth generated last year ended up in the pockets of the richest one per cent, while the poorest half of humanity got nothing, said a report published by Oxfam on Monday.
As global political and business leaders gather for this week's World Economic Forum annual meeting in Davos, Switzerland, the charity's report highlights a global system that rewards the super-rich and neglects the poor.
It found that 3.7 billion people who make up the poorest half of the world saw no increase in their wealth in 2017; meanwhile, 82 per cent of the wealth generated …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US inflation increases moderately in February; consumer spending surges
Fed’s balancing act could see June rate cut in play even with sticky inflation
China’s red carpet draws CEOs but few expect their money to follow
Australia wants businesses to diversify after China scraps wine tariffs
Japan FX chief calls yen’s slump unusual, vows to act if needed
Trump’s meme stock is skyrocketing but for how long?