Wealth

JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large. “Right now these crypto things are kind of a novelty. People think they’re kind of neat. But the bigger they get, the more governments are going to close them
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Daniel Zuchnik | Contributor | Getty Images Philanthropist Warren Buffett is joined onstage by 24 other philanthropist and influential business people featured on the Forbes list of 100 Greatest Business Minds during the Forbes Media Centennial Celebration at Pier 60 on September 19, 2017 Michael Bloomberg ranked third, with 10 percent of his $45 billion
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Allocations to hedge funds declined, falling to 6.2 percent of the average family office portfolio, the survey found. Among multi-year participants in the survey, the allocation fell to 7.1 percent in 2016 from 8 percent in 2015 amid concerns over their ability to generate satisfactory returns, it said. That came despite better performance, with the
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A Swiss financial watchdog has closed down providers of a “fake” cryptocurrency called E-Coin. The latest regulatory step follows a series of moves from China to toughen up on bitcoin and other digital tokens, signaling frustration in the continent over the phenomenon. According to the central European country’s Financial Market Supervisory Authority (FINMA), at least
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“The market is realizing that it doesn’t really matter what happens in China anymore, the exchanges based there no longer dominate trading activity and more mature liquidity from institutional players in Japan, Korea and Europe is providing a boost to this next bull cycle,” said Aurelien Menant, founder and CEO of Hong Kong-based token exchange
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Emerging markets (EM) have continued to grow faster than developed markets and produced higher returns this year, but analysts have conflicting views about the sector’s growth outlook. EM gross domestic product growth is around 4.5 percent year on year and is holding at its best level since the first quarter of 2015, compared to developed
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We live in a world of information overload. With so much easily accessible information at our fingertips, it can be difficult to sort genuinely useful information from flat-out bad advice. In the realm of money and investing, this problem becomes magnified. In the financial arena, the stakes are high — for both investors and those
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The chief executive of German automaker Volkswagen says the current discussion regarding diesel cars is unjustified and that the diesel engine has a “great future” ahead. “The diesels we are offering today are clean. They comply with the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) requirements and they meet the requirements and needs of our
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Floridians are no strangers to hurricanes and the wealthy of Miami know just how to protect their prized automobiles from the impending Hurricane Irma. Gil Dezer developed the 60-story Porsche Design Tower to withstand a Category 5 hurricane, and now he says there are more than $25 million worth of supercars tucked inside. “One of
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Private jet companies are seeing a surge in demand from wealthy Florida residents scrambling to leave before Hurricane Irma. With commercial flights booked or canceled, and the roads clogged with traffic, private jet companies said demand Wednesday and this week is shaping up to double or triple the usual demand. While this is normally a
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Finnish mobile games and animation studio Rovio Entertainment Ltd is considering to list its shares in Helsinki, bourse operator Nasdaq said on Tuesday. Nasdaq did not give further details, but said Rovio was due to hold a press conference later on Tuesday. Following years of falling earnings, job cuts and restructuring, Rovio returned to profit
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While the ban on ICOs does not directly affect bitcoin, the news created negative market sentiment which is weighing on the prices of several virtual currencies, according to Charles Hayter, chief executive and founder of digital currency comparison website CryptoCompare. “A rising tide lifts all boats but the opposite is also true – with generally
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Star Clippers’ five-masted, full-rigged 439-foot Royal Clipper looks like an old-fashioned sailing ship. Tucked inside are modern navigation systems, upscale accommodations and amenities, such as three swimming pools and supervised mast-climbing. The spa, health club and other areas of the ship’s Captain Nemo Lounge even have underwater glass portholes. When Star Clippers’ Flying Clipper, debuts
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In an interview with CNBC on Friday, White House economic czar Gary Cohn said that the main beneficiaries of a planned corporate-tax cut are workers. Touting the benefits of cutting the corporate-tax rate, he said it’s not just rich investors who stand to gain. He said pensions own most of the corporate stocks in the
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Japan, the United Kingdom, and several other countries have adopted a system known as “precision withholding” that lets taxpayers avoid filing any kind of tax return at all. The tax return, at the end of the day, is an anachronistic legacy of the old days of paper record-keeping when it wouldn’t have been feasible to
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At times, she said, she languished in virtual detention after Guo’s staff confiscated her smartphone, computer, passport and keys and forbade her from leaving her room in his luxury apartment in the high-end London neighborhood of Belgravia. To prove her case, the woman surreptitiously met a lawyer friend in London earlier this year to give
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