American fast-fashion retailer Forever 21 is officially closing 200 stores following its bankruptcy announcement last September. The retail giant admits that the store leases have hurt the company’s revenue, in addition to the emergence of online shopping. The company has...
Lu Wenrong, a Chinese monk, is under the spotlight once more after he spent GBP 42 million (USD 54.2 million) to build his own temple on Hainan Island, a popular tourist destination, reports Daily Mail. The Yuchan Palace, construction...
Wealthy households are strengthening the market for so-called wealth work. The Associated Press (AP) reported that the sector experienced a surge in demands due to the “whims and desires” of high-income families. Massachusetts Institute of Technology economics professor David Autor...
The newly elected governor of the Bank of England (BoE) is called to enforce a different approach in leading the economy, said The Conversation. This is in light of Mark Carney stepping down from his position as governor after...
Americans can save a total of $5,339.35 per year on average by cutting down unnecessary expenses, a new report said. Purchasing non-essential things such as coffee breaks, clothing, eating out, entertainment, alcohol, and ride shares can cost Americans as high...
Cornell University economics professor Eswar Prasad said the continuous HK strike and protests hurt the private wealth of some Chinese mainland. The tension between the people of HK and its government has been going on for more than 3 weeks...
For most Americans, a person should have a personal net worth of $2.3 million, according to a new survey. The figure is 20 times more than the actual median wealth of U.S. households, according to the 2019 Modern Wealth Survey...
The 2020 presidential contender, Sen. Bernie Sanders admitted that he is a millionaire thanks to his best-selling book, ‘Our Revolution: A Future to Believe In.’ After his statement at the community meeting in Gary, Indiana, many criticized him for not...
Democratic presidential candidate Bernie Sanders recently propositioned a wealth tax that will tax the rich by a great deal. The New York Times said that Sanders’ proposal would significantly reduce the fortunes of ultra-rich households in half within 15...
After the split of Amazon’s founder and CEO Jeff Bezos and his wife MacKenzie, the richest man in the world gets to keep 75% of the couple’s stock in the company. In an article published by Bloomberg, MacKenzie Bezos happily gives...

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