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
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The U.K. economy posted its worst performance in a year as the dominant services industry felt the impact of an intensifying squeeze on living standards. Source Bloomberg
The company supplied a record 178.3 Bcm to what it calls the Far Abroad (Europe plus Turkey, excluding members of the former Soviet Union), but reported sales volumes to those countries slipped 1.1% because of lower sales prices. Oil & Gaz 360
Italy’s justice minister said on Thursday it was “a lie” to paint humanitarian ships saving migrants in the Mediterranean as criminals, responding to a Sicilian prosecutor who has repeatedly suggested some are colluding with Libyan smugglers. Source Reuters