Inequality is becoming a factor in monetary policy as central bankers increasingly realize it can cause financial instability they’ll have to fix, European Central Bank Governing Council member Ewald Nowotny said.
Over the past three decades, the highest incomes in the U.S. have risen dramatically, and that has appropriately received lots of attention. At the same time, however, these high incomes have also become much more volatile, and that has gone almost unnoticed.
St James’s Place says Woodford Investment Management to run U.K. Equity and Income Distribution funds and the U.K High Income Unit Trust * Threadneedle Investment to take over management of Strategic Managed Unit Trust, Strategic Managed fund (previously known as Invesco Perpetual Managed fund), St. James Place says in statement * Funds were previously managed by Invesco Perpetual
Kenya’s economy grew less than expected last year as tourism slumped on security concerns amid deadly attacks by Islamist militants including a raid by al- Shabaab gunmen on a shopping mall in the capital.
Peter Seto wakes up at 5:30 a.m., drinks a cup of coffee and makes the 18-minute cross-town commute to San Francisco’s waterfront. There, he hops in the driver’s seat of a 45-foot luxury coach outfitted with tinted windows, plush seats, TVs and wireless Internet to chauffeur a bus full of programmers around the Bay Area.