Pandemic boosts super-rich share of global wealth

The share of household wealth owned by billionaires has risen by a record amount during the pandemic, with millionaires also coming out of COVID-19 ahead, a study found on Tuesday. The World Inequality Report produced by a network of social scientists estimated that billionaires this year collectively own 3.5% of global household wealth, up from

Chilean president Piñera impeached over Pandora papers revelations

Lower house approval vote sets up trial in Chile’s senate Papers revealed offshore dealings of conservative president Chile’s President Sebastián Piñera has been impeached by the lower house of congress, setting up a trial in the nation’s senate over allegations he favored the sale of a family property while in office. The vote to impeach passed with

Dozens arrested as Indigenous people lead mass Ecuador protests

Demonstrators are unhappy at the economic policies of the country’s conservative president and want fuel price hikes reversed. As dawn broke in the early hours of October 26, Ecuador’s Indigenous communities had already started the most recent “paro nacional”, or national shutdown in English, by bringing main transit arteries to a halt in the countryside

Biden to meet Kenya president as war roils nearby Ethiopia

President Joe Biden is set to hold his first one-on-one, in-person talks as president with an African leader on Thursday, hosting Kenyan President Uhuru Kenyatta as war and a humanitarian crisis roil neighboring Ethiopia, according to the White House. The Oval Office talks come just weeks after Biden signed an executive order threatening to levy

Chile’s billionaire president under scrutiny over Pandora leak

Papers gave details about a 2010 stake sale by Sebastian Pinera’s family in a mining project that activists objected to. Chile’s public prosecutor has said it will investigate the sale of a mining project involving the family of President Sebastian Pinera after new details emerged about the transaction in the Pandora Papers leak. Marta Herrera,

Czech prime minister’s party narrowly loses re-election days after Pandora Papers revelations in surprise outcome

Scandal-clouded billionaire Andrej Babis now faces probes over secret luxury property deals exposed in ICIJ’s global investigation based on the biggest ever offshore data leak. In a shock result, billionaire Andrej Babis’ party has narrowly lost the Czech Republic’s parliamentary election days after the populist leader had to contend with revelations from the Pandora Papers,

As Americans Demand Tax Reforms, Analysis Finds Top 1% Hold More Wealth Than Whole Middle Class

By comparison, in 1990 the top 1% held just 17% of the nation’s wealth—less than half of the middle class’ 36%. As the bombshell Pandora Papers continue to expose dubious details about how the world’s superrich hide their fortunes and avoid paying their fair share of taxes, Bloomberg on Friday published an analysis of U.S. Federal Reserve data revealing that Americans in

Ahead of election, Pandora Papers cast shadow over Czech PM

Andrej Babis, who denies allegations about his offshore dealings, is under pressure from Czechs, politicians and media. With days to go until national elections in the Czech Republic, Prime Minister Andrej Babis is trying to shake off criticism following allegations about his business dealings in the Pandora Papers. In the headline-grabbing leak published on Sunday, which

Pandora Papers: Qatar ruling family avoided £18.5m tax on London super-mansion

The Qatar ruling family bought two of the UK’s most expensive houses in a deal that allowed them to avoid £18.5m in stamp duty, leaked documents show. The family bought the properties in central London via offshore companies for over £120m and applied to make them into a 17-bedroom “super-mansion”. There is no suggestion that