23 June, 2021
5 million new millionaires
Rolling in it
5 million new people became millionaires in 2020, boosted by recovering stock markets and soaring house prices. There are now 56.2 million people in the world with over $1 million in wealth according to Credit Suisse. Despite the economic damage wrought by the pandemic, wealth held steady for the first half of the year and then grew rapidly in the second half - overall, total global wealth grew 7.4% in 2020.
UK employers are feeling more confident about the economy than they have in almost 5 years according to the Recruitment and Employment Confederation. Optimism is riding high on the loosening of coronavirus restrictions. The only thing they’re worried about? A shortage of staff to fill vacant roles.
No jab, no entry
Morgan Stanley is planning to ban staff and clients who aren’t fully vaccinated from its New York offices. The Wall Street giant is urging its workers to return to the office - but only if they’ve had both jabs. The rule should allow the bank to do away with social distancing and face coverings in its workspaces.
Selling Channel 4?
The government is considering selling off Channel 4, which could lead to the broadcaster being privatised as soon as next year. It’s state-owned by 90% funded by adverts. It also wants to look at clamping down on streaming services such as Netflix and Amazon Prime to subject them to the same bias and accuracy rules as the BBC, ITV and Sky.