Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what is perhaps the biggest reason for the recent “anti-establishment” revulsion: an unprecedented concentration of wealth among a handful of people, as shown in its infamous global wealth pyramid, an arrangement which as observed by the “shocking” political backlash of the past few months suggests that the lower ‘levels’ of the pyramid are increasingly unhappy about.
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Time For Truth: (Zero Hedge) – Global Wealth Update: 0.7% Of Adults Control $116.6 Trillion In Wealth
The government’s Medicines and Healthcare products Regulatory Agency (MHRA) has found that Cannabidiol (CBD) has a “restoring, correcting or modifying” effect on “physiological functions” when administered to humans, in a potential milestone in the campaign to legalise cannabis and bring about evidence-based laws regarding drugs.
Walmart, the US supermarket chain, plans to cut 7,000 back office and accounting jobs in its US stores.
The move comes after a pilot programme in 500 stores this summer that tested a new accounting system.
A Walmart official said the employees affected by the changes would have the option of moving into jobs serving customers if they chose to stay.
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Time For Truth: (BBC News) – Walmart plans to cut 7,000 jobs
As the Greece debt crisis unfolds and capital controls are forced down the throats of their people, bitcoin has moved back into the mainstream spotlight. With long lines in front of ATM machines reminiscent of the Cyprus bail-in, once again bitcoin appears to offer a safe haven.
Apple Inc. may be facing a hefty tax bill in Europe.
The world’s largest company could owe more than $8 billion in back taxes as a result of a European Commission investigation into its tax policies, according to an analysis by Matt Larson of Bloomberg Intelligence. Apple, which has said it will appeal an adverse ruling, is being scrutinized by regulators who have accused the iPhone maker of using subsidiaries in Ireland to avoid paying taxes on revenue generated outside the U.S.