WILMINGTON, Del, June 16 (Reuters) – Bondholders of gun maker Colt ripped into the bankrupt company’s private equity owner in a court hearing on Tuesday, saying the firm sped up its decline by starving it of cash and investment.
ABU DHABI, June 17 (Reuters) – The United Arab Emirates launched a state-owned bank on Wednesday to finance housing and other projects for UAE citizens, in a fresh round of intervention to promote the government’s social policy objectives.
Greece’s negotiations for a bailout seem to be hovering on the edge of total failure, with a default scenario rapidly approaching. The majority of economists and European leaders seem to agree that the consequences of a dramatic Greek exit would be dire. The financial system, currently propped up by the European Central Bank, would collapse; another recession would set in; and inflation would be rampant as the new currency crumbled in value…
NEW YORK, June 17 (Reuters) – When Stephen Lovell used to visit his grandparents as a kid, it was like entering the world of Cole Porter or “The Great Gatsby.”
The latest World Wealth Report from Capgemini and RBC Wealth Management came out on Wednesday, and it has some important insights on where and how the world’s ultra-rich are investing their millions. Last year, high net worth individuals, or HNWIs (defined as people with investable assets of $1 million or more, excluding primary residence, collectibles, consumables, and consumer durables), became slightly riskier: stocks overtook cash as the number one asset in their portfolios…
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