Wealth

Russian aluminium giant Rusal reported a 48 percent rise in second-quarter core earnings on Friday due to a higher aluminium price, and pointed to a positive outlook for the second half as supply in China tightens. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $510 million from $344 million in the same quarter
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However, the UBS report says the 3 percent knock to earnings is not disastrous as euro zone company earnings are up strongly this year. “Additionally, there have been periods in the past of euro strength coinciding with decent European eps as it can signal a stronger domestic economy. Consensus estimates for 2017 EPS growth, currently
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Charitable giving in the U.S. topped $390 billion in 2016, up nearly 3 percent from 2015, despite uncertainty around the election, according to a new report. The Giving USA Annual Report on Philanthropy, published by the Giving USA Foundation, said individuals, estates, foundations and corporations gave $390.05 billion to charities in 2016, up from $379.89
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Millionaire confidence plunged by a record amount in May, sparked by fears of government dysfunction in Washington. The Spectrem Millionaire Investor Confidence Index, a measure of millionaire confidence in the economy and markets, fell 17 points from April. That’s the biggest month-to-month drop ever recorded by Spectrem Group, a Chicago-based wealth-research firm that created the
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With Amazon’s stock price brushing $1,000, Jeff Bezos is within striking distance of becoming the world’s richest man. As of Friday’s close, Bezos was worth $85.1 billion, according to the Bloomberg Billionaire’s Index. Bill Gates is at $88.8 billion. So assuming that Microsoft’s share price remains constant or falls, Bezos needed another $3.8 billion to
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The three major auction houses are set to auction off more than $1 billion worth of fine art this week, marking a test of whether collectors can shrug off turmoil in Washington and sagging stock markets. Sotheby’s, Christie’s and Phillips have an estimated $1.3 billion worth of works on the block this week. That would
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