{ }
The Turkish lira has drastically lost value over the past two decades, with an official inflation rate of 48.6% in October, though independent estimates suggest it may be closer to 90%. Consumption is seen as the best investment due to constant price increases, while the minimum wage barely covers average rent in Istanbul. As the lira stabilizes, the economic reality remains challenging for many, highlighting the disparity between debtors benefiting from hyperinflation and those struggling to make ends meet.
Retailers are increasingly adopting smaller store formats to adapt to changing consumer preferences and optimize revenue per square foot. Chains like Macy’s, Target, and Ikea are experimenting with mini-stores, offering personalized experiences while catering to urban shoppers. This shift reflects a broader trend where convenience and accessibility are prioritized, as consumers seek tailored shopping experiences in both physical and online environments.
The Zurich Administrative Court has overturned minimum wage regulations in Zurich and Winterthur, siding with trade associations against voter-supported rules. A study reveals significant income inequality across Swiss cantons, with the wealthiest holding an increasing share. Meanwhile, Lombard Odier faces money laundering charges linked to the daughter of a former Uzbek president, and Trump's envoy for Ukraine advocates for increased arms support while proposing peace negotiations.
The assets of Switzerland's wealthiest individuals have surged to a record 833.5 billion Swiss francs, marking a 4.8% increase after two years of decline. Gérard Wertheimer leads the list with an estimated fortune of 37 to 38 billion francs, despite a decrease in his wealth. Notable newcomers include crypto investors Giancarlo Devasini and Christian Angermayer, reflecting the growing influence of digital assets among the super-rich.
The Ikea heirs, who dominated the list of Switzerland's richest for 21 years, have fallen out of the top ten in 2024, with their wealth reportedly shrinking from 55 billion francs to just 10 billion. This significant drop has raised skepticism about the accuracy of the wealth assessment.
The FTC has initiated an antitrust investigation into Microsoft, scrutinizing its software licensing and cloud practices amid allegations of market dominance abuse. In other news, Unusual Machines' stock surged following Donald Trump Jr.'s appointment to its advisory board, while Ikea reported a decline in profits due to price cuts. Additionally, South Korea unexpectedly cut interest rates to boost its economy, and U.S. consumer spending remains strong, although inflation progress has stalled.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.