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Wall Street bonuses were more than double the combined annual earnings of 895,000 full-time minimum wage workers (Institute for Policy Studies)
A new report from the Institute for Policy Studies found that the bonus pool for 172,400 Wall Street employees doubled the combined annual earnings of 895,000 full-time minimum wage workers in the US.
The average bonus in 2015 was $146,200, which was 4% higher than in 2009.
Here’s what Iran’s elections mean (Advisor Perspectives)
Iran held elections for parliament and for the Council of Experts in late February. The results pointed to a strong showing for moderate candidates rather than hardliners.
“For the markets, a more ‘liberal’ government in Iran is welcome, although there are serious doubts that we will see an immediate change in foreign policy,” argues Bill O’Grady of Confluence Investment Management.
“In the long run, the most likely result of these elections is that a less conservative body will appoint the next Supreme Leader. If a Pragmatic Conservative becomes the next leader of the clerical apparatus, Iran could become easier to deal with,” he continued. “However, in the end, we would not expect the substance of Iranian foreign policy to change due to these elections.”
CardHub’s 2015 credit card debt study found that consumers racked up $52.4 billion in credit card debt during the fourth quarter of 2015 — the largest fourth quarter buildup since the Great Recession.
Moreover, the average household with credit card debt now owes about $7,879 — also the highest level since the Great Recession.
Women aren’t actually all identical (FA Magazine)
A new report from Ernst and Young found that advisors who treat women as a homogeneous group will end up struggling to attract female clients, reports Karen Demasters.
That could be very detrimental, since women worldwide are expected to increase their income to $18 trillion from $13 trillion over the next five years. Additionally, women are expected to control 75% of discretionary income around the world by 2028, according to the Earnst and Young report.
“Wells Fargo & Co. and a Rhode Island government agency were sued by a US regulator for allegedly misleading investors about how much money a company led by former Boston Red Sox pitcher Curt Schilling needed to develop a video game,” report Matt Robinson and Brian Chappatta.
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