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Worth of Forbes’ billionaires list grows by $5T during pandemic

Worth of Forbes’ billionaires list grows by $5T during pandemic

World
April 6 (UPI) -- Forbes' annual World's Billionaires List grew to a record 2,755 people in 2021, adding $ 5 trillion in worth despite the economic downturn caused by the COVID-19 pandemic. The business magazine released its 35th annual list Tuesday, which saw an increase of 660 of people, including 493 newcomers. Collectively, the 2,755 people on the list represent $ 13.1 trillion in wealth, up from $ 8 trillion in 2020. Advertisement Amazon CEO Jeff Bezos maintained his hold at the top of the list for the fourth year in a row. He's worth $ 177 billion, up from $ 113 billion in 2020. Tesla and SpaceX founder and CEO Elon Musk shot to the No. 2 spot in 2021, up from No. 31 in 2020, increasing his net worth more than six-fold to $ 151 billion. He briefly held the position as world's richest...
Bank credit grows at 5.4% in September quarter: RBI

Bank credit grows at 5.4% in September quarter: RBI

Finance
Mumbai: Bank credit growth on a year-on-year basis stood at 5.4 per cent in September quarter of the current fiscal year compared to 5.7 per cent growth in the previous quarter, RBI data showed. Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June. It however improved for the bank branches in rural, semi-urban and urban areas, according to the data released by the Reserve Bank of India (RBI). RBI on Friday released Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), September 2020. It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, ty...
Public sector net borrowing hits £22.3bn in October as debt pile grows

Public sector net borrowing hits £22.3bn in October as debt pile grows

Business
Public sector net borrowing is estimated to have been £22.3bn in October - the sixth-highest borrowing in any month since monthly records began in 1993.The figure, from the Office for National Statistics (ONS), means that public sector net debt stood at £2.076trn by the end of October - or 100.8% of GDP, a level not seen for many decades. Borrowing for the first seven months of the financial year is estimated to have been £214.9bn - the highest in any April to October period and the sixth-highest borrowing in any month since records began in 1993.This was mostly due to the massive cost of the coronavirus response. Chancellor Rishi Sunak, said: "We've provided over £200bn of support to protect the economy, lives and livelihoods from the significant and far reaching impacts of coronaviru
Pentagon, VA adapting as number of COVID-19 cases grows, officials say

Pentagon, VA adapting as number of COVID-19 cases grows, officials say

Business
July 7 (UPI) -- The Department of Defense has opened an outdoor facility for "safe and socially distant workouts," and officials say they are closely monitoring and adapting as the number of COVID-19 cases among active duty military continues to climb. The number of cumulative cases listed on the Pentagon's website as of Monday was 14,992, up from 12,521 Thursday. Advertisement The number of cases has doubled during June, and 2,471 new cases of COVID-19 were reported over the holiday weekend. Cases among veterans are also up, with Veterans Affairs officials reporting nearly 5,000 active cases of coronavirus among patients in the agency's care -- a threefold increase over the last month. VA Secretary Robert Wilkie told reporters Tuesday that so far the department is managing the new casel...
Business secretary defends 14-day virus quarantine plan as opposition grows

Business secretary defends 14-day virus quarantine plan as opposition grows

Business
The Business secretary has defended the government's planned 14-day quarantine for arrivals into the UK in the face of growing opposition, telling Sky News that a range of exemptions have already been made to help companies.Alok Sharma said public health had to be the priority as the controversial measure prepares to kick in from 8 June, despite critics warning it will be unenforceable and damage recovery from the COVID-19 shock to the economy. He was speaking hours after it emerged that more than 200 travel and hospitality businesses had now joined a campaign urging ministers to scrap the scheme. ...