In California, reaching the top 1% of earners now requires an income of over $1 million a year, a dramatic increase from previous years. While the West Coast was expected to have the highest thresholds, surprising states like Connecticut and Massachusetts top the list. Despite the high costs of living
Zambia’s copper mining industry is on the brink of a major transformation thanks to groundbreaking AI technology that has uncovered massive new copper deposits. This discovery, led by KoBold Metals, could make Zambia a key player in the global surge for copper, vital for electric vehicles and renewable energy. With
A new study (view below) shows that giving Americans $1,000 a month makes them work less and earn less over time. The research, which tracked 3,000 people for three years, found that while recipients enjoyed more leisure time, their overall income dropped because they worked fewer hours and didn’t improve
The African Union is set to unveil the African Credit Rating Agency (ACRA) in 2024 to challenge the often flawed ratings from giants like Fitch, Moody’s, and S&P. These major firms have been criticized for their inaccurate assessments of African economies, leading to expensive borrowing costs. ACRA aims to provide
A new world order is coming into being. Many call it “multipolar,” but it is better described as “multi-nodal.” A “pole” is the end of a line between two points. But the emerging order is a three-dimensional network, not a two-dimensional axis, or even a collection of axes. “Nodes” [节点] are
Euroclear, a Brussels-based clearing house, announced it will transfer €1.55 billion from interest generated by frozen Russian funds to support Ukraine. This decision follows EU and G7 discussions on using Russia’s immobilized assets, totaling €210 billion, sanctioned due to the Ukraine conflict. The first payment will aid Ukraine’s defense, with
Explore how salaries vary drastically across 30 OECD countries in this eye-opening analysis. Visualized by Marcus Lu for Visual Capitalist, the data reveals surprising disparities from Luxembourg’s lavish earnings to Mexico’s stark contrasts. Adjusted for purchasing power parity (PPP), the findings showcase top-paying nations like the U.S. and Switzerland, where
Chinese tycoon Guo Wengui has been convicted by a New York jury for swindling over $1 billion from his supporters to fund his opulent lifestyle. Guo, known for his outspoken criticism of Beijing, faced charges including racketeering and fraud, with potential sentences of up to 20 years each. His trial
Amazon may be the e-commerce leader in Europe, but Chinese companies like Pinduoduo and Temu are rapidly closing the gap. By 2024, Pinduoduo is projected to be just 13% behind Amazon in gross merchandise volume, a significant shift from 2019 when Amazon’s volume was more than double that of Pinduoduo.