The ultra-rich lost 10% of fortune in 2022: study

23 Sept 06:53 Key points summarised by AI

Ultra-high-net-worth individuals (UHNWIs), defined as those with over $30 million, collectively lost 10% of their wealth in 2022, amounting to $10.1 trillion.
This decline was primarily driven by the Ukraine war, the European energy crisis, surging inflation, and subsequent sharp global interest rate hikes.
Europe's ultra-rich faced the steepest decline (17%), while Africa and Asia experienced lesser impacts; however, 69% of wealthy investors anticipate portfolio growth in 2023.

Macron condemns those who 'sought to bring down the Republic' after rioting mars nationwide protests

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.