World's richest 1% own 40% of all wealth, UN report discovers | Money The richest 1% of adults in the world own 40% of the planet's wealth, according to the largest study yet of wealth distribution. The report also finds that those in financial services and the internet sectors predominate among the super rich. Europe, the US and some Asia Pacific nations account for most of the extremely wealthy. More than a third live in the US. The UK is also third in terms of per capita wealth. The global study - from the World Institute for Development Economics Research of the United Nations - is the first to chart wealth distribution in every country as opposed to just income, for which more comprehensive date is available. Anthony Shorrocks, director of the research institute at the United Nations University, in New York, led the study. His team used detailed data from 38 countries, but had to rely on incomplete information from the rest. The report found the richest 10% of adults accounted for 85% of the world total of global assets.
How investment banks turned housing and student loans into a toxic and financial disaster – Middle class largest asset coopted by banking sector to raid and speculate on. Financial sector nearly 30 percent of all corporate profits in U.S. In the 1950s it Most Americans pull their net worth from their investment in good old housing. It is the biggest purchase most will ever make. And because of this, after the Great Depression, housing was a boring yet stable investment class. It had to be. This is the cornerstone of wealth for most Americans. Banks used to do their due diligence by verifying income and typically having a say in their local communities. The burden of housing and investment banks speculation By far, the largest debt American households carry is with mortgage debt: This is one of the most troubling charts since it shows how household debt since the 1950s has become a larger and larger part of our economy. Inequality rises because of broken financial system Wealth inequality in the U.S. is now at the levels last experienced during the 1920s: The top 5 percent in the U.S. control 63 percent of all wealth. It stalled out. You also have the absurd amount of student loan debt in our country and the cost of education:
Charts & Launchpad Bloomberg Launchpad® is a customizable workspace, designed for financial professionals, that brings your most critical information and functionality forward to help you make informed decisions in real time and ahead of the market. You gain a completely personalized interface structured to meet your own needs—in the format that most fits your personal workflow. With 1 billion ticks per hour flowing through your data feeds, Launchpad provides an easy, efficient way to sort through the noise and focus on what matters most. The most flexible desktop environment available to financial professionals today, Launchpad delivers dynamic multi-asset class security monitors, powerful alerting tools, sophisticated charting, and news that moves markets. All combined with built-in communication and collaboration tools. What do you get in your Launchpad desktop?
Bloomberg Terminal - Wiki A six-screen Bloomberg terminal in use at Bloomberg West The Bloomberg Terminal is a computer system provided by Bloomberg L.P. that enables professionals in finance and other industries to access the Bloomberg Professional service through which users can monitor and analyze real-time financial market data and place trades on the electronic trading platform.[1] The system also provides news, price quotes, and messaging across its proprietary secure network. Most large financial firms have subscriptions to the Bloomberg Professional service. Many exchanges charge their own additional fees for access to real time price feeds across the terminal. The same applies to various news organizations. All Bloomberg Terminals are leased in two-year cycles (in the late 90's and early 2000s, three year contracts were an option), with leases originally based on how many displays were connected to each terminal (this predates the move to Windows based hardware). Architecture[edit] Keyboard[edit]
Building a pipe directly into social networks Q4 finds a way around delays and uneven distribution Canada’s Q4 Web Systems keeps pushing the boundaries. Today it announced that it has integrated StockTwits into IR websites the same way it did with Twitter and Facebook. By pushing corporate messages directly into the social networking sites using their application programming interfaces (APIs), Q4 avoids the delays and uneven access that can nobble the social web. The announcement comes on the same day that StockTwits announced a new IR suite and CMP.LY introduced CMP.LY4Finance, giving financial services companies a way to include compliance disclosures such as safe harbor statements even in 140-character tweets. Darrell Heaps, Q4’s co-founder and CEO, says that as far as he knows, Q4 is the only IR website provider connecting directly with social networks on a programming level. There’s another advantage in publishing directly to StockTwits: messages are distributed to the service’s content partners including Yahoo!
Volcker Rule - Wiki The Volcker Rule refers to § 619[1] (12 U.S.C. § 1851) of the Dodd–Frank Wall Street Reform and Consumer Protection Act, originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers.[2] Volcker argued that such speculative activity played a key role in the financial crisis of 2007–2010. The rule is often referred to as a ban on proprietary trading by commercial banks, whereby deposits are used to trade on the bank's own accounts, although a number of exceptions to this ban were included in the Dodd-Frank law.[3][4] The rule's provisions were scheduled to be implemented as a part of Dodd-Frank on July 21, 2012,[5] with preceding ramifications,[6] but were delayed. Background[edit] Volcker was appointed by President Barack Obama as the chair of the President's Economic Recovery Advisory Board on February 6, 2009. Effects[edit]
How the Volcker Rule May Affect Foreign Banks Drafts of the proposed Volcker Rule, implementing Section 619 of the Dodd-Frank Act, have begun circulating in advance of a vote by the federal agencies to issue the proposal. The Volcker Rule would ban many forms of proprietary trading by banks and would strictly limit their investments in private equity and hedge funds. Among the many unanswered questions of the Volcker Rule was its application and effect on non-American banks that are subject to it by virtue of their branches or subsidiaries in the United States. Most observers had expected that the prohibitions would apply to American banks worldwide, but would apply only to the activities in the United States of non-American banks. Section 619 contains an exception from the prohibition on proprietary trading for trades done “solely outside of the United States.” Second, the draft rule would subject to the Volcker Rule restrictions any trade in which a person located in the United States is “directly involved.”
Frbny Social Media Rfp World economy - Wiki The world economy, or global economy, generally refers to the economy, which is based on economies of all of the world's countries' national economies. Also global economy can be seen as the economy of global society and national economies – as economies of local societies, making the global one. It can be evaluated in various kind of ways. For instance, depending on the model used, the valuation that is arrived at can be represented in a certain currency, such as 2006 US dollars. It is inseparable from the geography and ecology of Earth, and is therefore something of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. Economy – overview[edit] Twenty Largest Economies in the World by GDP at Given Years[edit]
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Gross world product - Wiki The gross world product (GWP) is the combined gross national product of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).[nb 1] In 2012, the GWP totalled approximately US$84.97 trillion in terms of purchasing power parity (PPP), and around US$71.83 trillion in nominal terms.[1] The per capita PPP GWP was approximately US$12,400.[1] Recent global growth[edit] The table below gives regional percentage values for overall GWP growth through 2012, and estimates for 2013 and 2014, according to the International Monetary Fund (IMF)'s 2013 World Economic Outlook database. Historical and prehistorical estimates[edit] Average annual GWP growth rate from 1,000,000 BCE to 2011. 2011 GWP adjusted with CPI data. In 1998, J. See also[edit] Notes[edit] Jump up ^ See measures of national income and output for more details. References[edit] External links[edit]
Investment banking - Wiki Unlike commercial banks and retail banks, investment banks do not take deposits. From 1933 (Glass–Steagall Act) until 1999 (Gramm–Leach–Bliley Act), the United States maintained a separation between investment banking and commercial banks. Other industrialized countries, including G8 countries, have historically not maintained such a separation. As part of the Dodd-Frank Act 2010, Volcker Rule asserts full institutional separation of investment banking services from commercial banking. There are two main lines of business in investment banking. Trading securities for cash or for other securities (e.g. facilitating transactions, market-making), or the promotion of securities (e.g. underwriting, research, etc.) is the "sell side", while buy side is a term used to refer to advising institutions concerned with buying investment services. Organizational structure[edit] Investment banking is split into front office, middle office, and back office activities. Front office[edit] Research[edit]
List of countries by GDP (nominal) - Wiki This article includes a list of countries in the world sorted by their gross domestic product (GDP), the market value of all final goods and services from a nation in a given year. The GDP dollar estimates presented here are calculated at market or government official exchange rates. Several economies which are not considered to be countries (world, the EU, and some dependent territories) are included in the lists because they appear in the sources. These economies are not ranked in the charts here, but are listed where applicable. The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.
Electronic Money - Wiki Electronic money is a new expression the meaning of which is not stable. It can refer to different realities depending on the context (legal or not, historical or actual, monetary theory...). However, the underlying principle of electronic money involves the use of computer networks, the Internet and digital stored value systems. Electronic money definitions[edit] A European Commission website describes electronic money, or e-money, as “a digital equivalent of cash, stored on an electronic device or remotely at a server.” Law[edit] Since 2001, the European Union has implemented a directive "on the taking up, pursuit and prudential supervision of the business of electronic money institutions" last amended in 2009.[2] Yet doubts on the real nature of EU electronic money have arisen, since calls have been made in connection with the 2007 EU Payment Services Directive in favor of merging payment institutions and electronic money institutions. Electronic money systems around the world[edit]