BERLIN (AP) — An icebreaker carrying scientists on a year-long international effort to study the high Arctic has returned to its home port in Germany carrying a wealth of data that will help researchers better predict climate change in the decades to come.
The RV Polarstern arrived Monday in the North Sea port of Bremerhaven, from where she set off more than a year ago prepared for bitter cold and polar bear encounters — but not for the pandemic lockdowns that almost scuttled the mission half-way through.
The third quarter of 2020 will be remembered as one of the most unique periods of merger and acquisition activity in the history of the wealth management industry.
There were a record number of deals in Q3 – 55 transactions in total, according to the latest ECHELON Partners RIA M&A Deal Report – which surpasses the previous high of 53 deals that our research tracked in Q4 2019.
This record period comes directly after just 35 deals took place in Q2. This 57% increase in quarter-over-quarter M&A activity also registers as one of the sharpest increases in the industry’s history, marking a major rebound after the COVID-19-related market declines delayed and prolonged normal deal-making activity, as the figure below illustrates:
There are now 2,189 billionaires globally with a combined wealth of $10.2 trillion, as the pandemic-induced stock market rally catapulted the net worth of the world’s uber wealthy to a new high.
As of July 2020, Asia-Pacific accounted for the highest number of ultra-high net worth individuals, with 831 (38%) of the super rich residing in the region, where billionaire wealth now totals $3.3 trillion, according to Swiss bank UBS’ new Billionaires Insights Report 2020. That compares to 762 (35%) across the Americas and 596 (27%) in Europe, the Middle East and Africa (EMEA).
The findings, based on interviews and data from 2,000 billionaires across 43 markets, saw Asia-Pacific retain its global position as “the engine of wealth growth,” UBS Global Wealth Management’s Anurag Mahesh said at the report’s launch Wednesday.
Mainland China emerged as the region’s top market for wealth creation, with 415 billionaires, followed by India (114), Hong
ZURICH (Reuters) – Billionaire wealth reached record high levels amid the COVID-19 pandemic, a report by UBS UBSG.S and PwC found, as a rally in stock prices and gains in technology and healthcare helped the wealth of the world’s richest break the $10 trillion mark.
The report, covering over 2,000 billionaires representing some 98% of the cohort’s total wealth, found billionaire wealth grew by more than a quarter during the early months of the pandemic to reach $10.2 trillion in July, breaking the previous record of $8.9 trillion at the end of 2019.
The figure represents a five- to ten-fold rise over the past 25 years, the span covered by the UBS and PwC database, when billionaire wealth stood at just over $1 trillion.
Way back on Sept. 30 — which may as well be eons ago but in reality was the day after the first presidential debate — Halsey sat down with former Democratic presidential candidate Bernie Sanders for the first in what she bills as an “intimate conversation to discuss the future of America, some of the most important issues facing our nation and why they’ll be voting for Joe Biden this November.”
In the chat that was titled “Greed & the Wealth Tax,” the debate (Halsey says is “arguably one of the most frustrating pieces of television that I’ve ever had the misfortune of witnessing”) and Halsey’s upbringings in a “lower class family.”
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One of the most compelling parts of the conversation was when the two discussed the “preposterous concept” of billionaires.
NtechLab, a startup that helps analyze footage captured by Moscow’s 100,000 surveillance cameras, just closed an investment of more than 1RUB billion ($13 million) to further global expansion.
The five-year-old company sells software that recognizes faces, silhouettes and actions on videos. It’s able to do so on a vast scale in real time, allowing clients to react promptly to situations It’s a key “differentiator” of the company, co-founder Artem Kukharenko told TechCrunch.
“There could be systems which can process, for example, 100 cameras. When there are a lot of cameras in a city, [these systems] connect 100 cameras from one part of the city, then disconnect them and connect another hundred cameras in another part of the city, so it’s not so interesting,” he suggested.
The latest round, financed by Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and an undisclosed sovereign wealth fund from the Middle East, certainly
Next year, in cities across the world, expect to have your face scanned for levels of aggression. NtechLab, a Russian facial recognition company best known for the FindFace app once labelled the harbinger for the end of online privacy, says it’s currently testing “aggression detection” tech with plans for a full rollout to its surveillance partners and customers in 2021.
To help it along the way, it’s just received $15 million from two sovereign wealth funds – one the Russian Direct Investment Fund, the other a mysterious, unnamed Middle East partner. Previously, NtechLab had previously received support from the U.A.E. sovereign investor Mubadala Investment Company, but it wouldn’t tell Forbes who was putting up the funds in
Minneapolis-based aggregator Wealth Enhancement Group has made two key hires that will focus on digital efforts at the firm. While the firms’s representatives would not disclose details on those efforts, WEG will employ data and predictive analytics to help its advisors better understand the wants and needs of its clients.
Terri Kallsen has joined WEG as chief operating officer and previously led Investor Services at Charles Schwab. Kallsen has also held senior positions at First Command, USAA and Thrivent Financial. Her efforts will center on improving operational efficiency at the firm.
The other hire is Utkarsh Patel, who has taken on the combined role of chief marketing and digital officer. Patel most recently led First Abu Dhabi Bank’s digital strategy efforts.
In addition to the hires, WEG has appointed A. Charles Thomas, formerly the head of data science and growth analytics for Microsoft’s Cloud + AI unit. According to the