Concerns that we are in a “lost decade” for global wealth growth have been given further credence by the latest “Global Wealth Report”. In 2000, the top 1 percent owned 49.6 percent of all household wealth, dropping to 45.4 percent in 2009. This figure has since clambered back up to reach 50.8 percent in 2016. Source: CNBC
British Steel Ltd.’s three-year run as a company ended on Wednesday, putting 5,000 jobs at risk and piling fresh misery on the U.K.’s manufacturing base. Source: Bloomberg
Japan’s goods trade surplus plunged 90.3 percent in April from a year earlier to 60.4 billion yen ($546 million), hit by weak exports to China amid U.S.-China trade tensions. Source: Mainichi
British Steel, the country’s second largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan, two sources close to the situation said. British Steel said negotiations had not concluded and it continues to work with all parties to secure the future of the business. It also reassured employees that their salaries will be paid in full for May. Source: Reuters
