The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed. Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no
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Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry, reports Bloomberg. The Petroleum Industry Governance Bill now awaits President Muhammadu Buhari’s signing to become
Read MorePope Francis married a couple of airline employees aboard the papal plane as it flew over Chile on the third day of his South American trip. Francis formally joined in matrimony 41-year-old Carlos Ciuffardi and Paula Podest, 39, who have two children and are both flight attendants. The Chilean couple
Read MoreAmerican President Donald Trump has denied that he is racist, after a row broke out over his alleged use of the word "shithole" to describe African nations. Mr Trump reportedly used the term last week during a bipartisan Oval Office meeting on immigration reform. He has now told reporters: "I
Read MoreLiberia’s ruling party expelled outgoing President Ellen Johnson Sirleaf, saying she violated the party’s rules by not supporting her vice president in last month’s election, Associated Press reported, citing a party official. The Unity Party accuses Johnson Sirleaf of sending people to campaign against the party, Mohammed Ali, assistant secretary-general for
Read MoreOprah Winfrey is "actively thinking" about running for president, two of her close friends told CNN Monday. The two friends, who requested anonymity in order to speak freely, talked in the wake of Winfrey's extraordinary speech at the Golden Globes Sunday night, which spurred chatter about a 2020 run.
Read MoreGlobal debt rose to a record $233 trillion in the third quarter of 2017, more than $16 trillion higher from end-2016, according to an analysis by the Institute of International Finance. Private non-financial sector debt hit all-time highs in Canada, France, Hong Kong, South Korea, Switzerland and Turkey. At the same
Read MoreInvestors devoted to the idea that inflation will stay subdued should be worried. Worldwide data have recently made clear that producer-price increases have picked up steam. That’s led bond buyers to begin wagering that consumer inflation could be soon to follow, with U.S. breakeven rates above 2 percent in many
Read MoreNorth Korea's leader Kim Jong-un has said he has a nuclear launch button on his desk at all times so the US "will never be able to start a war", reports BBC. In a televised New Year speech, he said the entire US was within range of North Korean nuclear
Read MoreHuawei Technologies Co. warned of its slowest revenue growth since 2013, despite making headway against Apple Inc. in global smartphones, reports Bloomberg. Revenue at China’s biggest telecommunications gear maker probably rose 15 percent to 600 billion yuan ($92 billion) in 2017, rotating Chief Executive Officer Ken Hu said in a
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