Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai


Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai
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Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass.

Last year, the Thai stock market suffered a record $9 billion in foreign investment outflows as investors withdrew from emerging markets amid rising interest rates in the U.S. and global economic concerns. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front.

The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. The vote is set to be a contest between three political fractions:

A pro-military camp that include the Palang Pracharat Party, which named current Prime Minister Prayuth Chan-o-cha as its candidate to lead the country.

An anti-military camp that consist of the Pheu Thai Party — which is linked to exiled former Prime Minister Thaksin Shinawatra — and the newly founded Future Forward Party.

A group of parties that are neutral or undecided on which side they would align, including the Democrat Party led by another former prime minister, Abhisit Vejjajiva, and Bhumjaithai Party, which recently made headlines for its promotion of marijuana as a new cash crop in Thailand.

None of the parties are expected to single-handedly win enough seats to form the next government, which means the most likely scenario is a coalition administration. That may be challenging, however, in a polarized political environment like Thailand, analysts said.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
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Ralph Northam says he’s devoted to addressing inequality, race: WaPo

“It’s obvious from what happened this week that we still have a lot of work to do. There are still some very deep wounds in Virginia, and especially in the area of equity,” The Post reported him as saying. Lawyers for one woman, Meredith Watson, made the accusation in a statement that also called on Fairfax to resign from office. Another woman, California university professor Vanessa Tyson, had recently accused Fairfax of sexual assault in an incident nearly 15 years earlier. If all three Democr


“It’s obvious from what happened this week that we still have a lot of work to do. There are still some very deep wounds in Virginia, and especially in the area of equity,” The Post reported him as saying. Lawyers for one woman, Meredith Watson, made the accusation in a statement that also called on Fairfax to resign from office. Another woman, California university professor Vanessa Tyson, had recently accused Fairfax of sexual assault in an incident nearly 15 years earlier. If all three Democr
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Ralph Northam says he's devoted to addressing inequality, race: WaPo

Virginia Governor Ralph Northam maintained on Saturday that he is not the person featured in a decades-old blackface photo that’s upended the state’s politics, but intends to spend the remainder of this term focused on racial reconciliation, The Washington Post reported.

Northam was hit with calls for his resignation from Republicans and Democrats alike after it was revealed that his 1984 medical school yearbook page included a racist photo of a person in blackface, standing next to another person wearing a KKK hood.

In his first interview since the photograph came to light on Feb. 1, the 59 year old governor elected in 2017 continued to defy widespread calls for his resignation. He said that he “overreacted” after the photo was first made public, and that “If I had it to do over I would step back and take a deep breath,” he told the publication.

After a “horrific” week in which three of the state’s top-ranking Democrats were engulfed in scandals of their own, Northam told The Post that he’s was working with his staff on specific proposals to begin expanding access to health care, housing and transportation.

“It’s obvious from what happened this week that we still have a lot of work to do. There are still some very deep wounds in Virginia, and especially in the area of equity,” The Post reported him as saying.

“There are ongoing inequities to access to things like education, health care, mortgages, capital, entre­pre­neur­ship. And so this has been a real, I think , an awakening for Virginia. It has really raised the level of awareness for racial issues in Virginia. And so we’re ready to learn from our mistakes,” he added.

Northam’s fate has become an even bigger question after two women accused Lt. Gov. Justin Fairfax, a rising star in the Democratic Party, of sexual assault over a decade ago.

Lawyers for one woman, Meredith Watson, made the accusation in a statement that also called on Fairfax to resign from office. Another woman, California university professor Vanessa Tyson, had recently accused Fairfax of sexual assault in an incident nearly 15 years earlier.

The next person in the line of succession after Fairfax, Attorney General Mark Herring, admitted that he, too, wore blackface at a college party in 1980.

If all three Democratic leaders resigned, then Republican Kirk Cox, the speaker of the House of Delegates, would become governor.

–CNBC’s Kevin Brueninger contributed to this report.

The Washington Post’s full story can be found on its website.


Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: javier e david, alex edelman, getty images
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Salesforce’s Marc Benioff blames Silicon Valley for San Fran inequality

Silicon Valley has driven San Francisco into a “train wreck” of inequality, with homelessness being a severe issue in the city, Salesforce CEO Marc Benioff told CNBC on Tuesday. “In some ways, San Francisco is the canary in the coal mine,” Benioff said in an interview with CNBC’s Sara Eisen at the World Economic Forum in Davos, Switzerland. “We have to look at San Francisco and say here’s the best technology example in the world and yet the worst homelessness.” “San Francisco is kind of a train


Silicon Valley has driven San Francisco into a “train wreck” of inequality, with homelessness being a severe issue in the city, Salesforce CEO Marc Benioff told CNBC on Tuesday. “In some ways, San Francisco is the canary in the coal mine,” Benioff said in an interview with CNBC’s Sara Eisen at the World Economic Forum in Davos, Switzerland. “We have to look at San Francisco and say here’s the best technology example in the world and yet the worst homelessness.” “San Francisco is kind of a train
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Salesforce's Marc Benioff blames Silicon Valley for San Fran inequality

Silicon Valley has driven San Francisco into a “train wreck” of inequality, with homelessness being a severe issue in the city, Salesforce CEO Marc Benioff told CNBC on Tuesday.

Benioff added that though the Valley is the home of “an incredible technology industry” that “every city in the world craves,” some executives in the sector are ignoring issues such as gentrification and homelessness.

“In some ways, San Francisco is the canary in the coal mine,” Benioff said in an interview with CNBC’s Sara Eisen at the World Economic Forum in Davos, Switzerland. “We have to look at San Francisco and say here’s the best technology example in the world and yet the worst homelessness.”

“San Francisco is kind of a train wreck, we have a real inequality problem,” he said. “It’s because of the tech sector.”

A one-night count of San Francisco’s homeless population in 2017 showed that roughly 7,500 people were without homes, according to figures released by the city in June.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: ryan browne, adam galica
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Marc Benioff says San Francisco is still an inequality ‘train wreck’

Marc Benioff says San Francisco is still an inequality ‘train wreck’6 Hours AgoSalesforce CEO Marc Benioff sat down with CNBC’s Sara Eisen to discuss the gender inequality in the tech sector, what to expect for social media governance in 2019 and dangers in artificial intelligence.


Marc Benioff says San Francisco is still an inequality ‘train wreck’6 Hours AgoSalesforce CEO Marc Benioff sat down with CNBC’s Sara Eisen to discuss the gender inequality in the tech sector, what to expect for social media governance in 2019 and dangers in artificial intelligence.
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Marc Benioff says San Francisco is still an inequality 'train wreck'

Marc Benioff says San Francisco is still an inequality ‘train wreck’

6 Hours Ago

Salesforce CEO Marc Benioff sat down with CNBC’s Sara Eisen to discuss the gender inequality in the tech sector, what to expect for social media governance in 2019 and dangers in artificial intelligence.


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India’s economy is booming. Now comes the hard part

Overall inequality also appears to have grown, according to Credit Suisse’s Global Wealth Report, which said the 2018 Gini coefficient for wealth in India rose to 0.854 from 0.83 in 2017 and 0.804 in 2011. The closer a country’s Gini value gets to 1.0, the more unequally distributed is its economy. But the analysis also shows that unlike most countries which started with high inequality, inequality in India has continued to rise,” Oxfam said. “In the context of the acceleration of growth rate of


Overall inequality also appears to have grown, according to Credit Suisse’s Global Wealth Report, which said the 2018 Gini coefficient for wealth in India rose to 0.854 from 0.83 in 2017 and 0.804 in 2011. The closer a country’s Gini value gets to 1.0, the more unequally distributed is its economy. But the analysis also shows that unlike most countries which started with high inequality, inequality in India has continued to rise,” Oxfam said. “In the context of the acceleration of growth rate of
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India's economy is booming. Now comes the hard part

A 2018 report from international nonprofit Oxfam looked at different assessments from before and after Modi’s administration to conclude that more and more of the country’s income is going “to the top 10% and top 1% of the population.”

Overall inequality also appears to have grown, according to Credit Suisse’s Global Wealth Report, which said the 2018 Gini coefficient for wealth in India rose to 0.854 from 0.83 in 2017 and 0.804 in 2011. The closer a country’s Gini value gets to 1.0, the more unequally distributed is its economy.

“On most indicators, India is now among the countries with the highest level of inequality. But the analysis also shows that unlike most countries which started with high inequality, inequality in India has continued to rise,” Oxfam said. “In the context of the acceleration of growth rate of Indian economy, the rise in inequality raises issues of the distribution of gains from the growth.”

Oxfam separately reported that its online surveys showed 73 percent of respondents in India said “the gap between the rich and the poor needs to be addressed urgently or very urgently.”

Jayati Ghosh, professor at the Centre for Economic Studies and Planning at Jawaharlal Nehru University, blamed longstanding inequality in the country on a lack of political will and inefficient domestic policies: “Inequality is a political choice. The hold of the elites and powerful lobbies over government policy is very strong,” she said.

Modi, meanwhile, campaigned in 2014 on the slogan “Sabka Saath, Sabka Vikas,” which translates in English to “together with all, development for all.”

His party manifesto from that election year included some ambitious goals for improving the standard of living for all Indians by creating jobs, increasing profits for farmers, eradicating corruption, curbing inflation and more.

Since coming to power, Modi has taken public steps toward keeping some of those promises — and he’s made some new ones along the way — while others have seen fewer headlines. Here’s how experts think the Indian leader has fared so far.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: harini v, adnan abidi, mohd zakir, hindustan times, getty images
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How much money you need to be among the richest 10 percent of people worldwide

To be among the global top 10 percent, you may not need as much money as you think. According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures. A net worth of $93,170 U.S. is enough to make you richer than 90 percent of people around the world, Credit Suisse reports. More than 102 million people in America are in the 10 percent worldwide, Credit Suisse reports, far more than from any other country. More than 19 million Americans qualify, Cre


To be among the global top 10 percent, you may not need as much money as you think. According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures. A net worth of $93,170 U.S. is enough to make you richer than 90 percent of people around the world, Credit Suisse reports. More than 102 million people in America are in the 10 percent worldwide, Credit Suisse reports, far more than from any other country. More than 19 million Americans qualify, Cre
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How much money you need to be among the richest 10 percent of people worldwide

To be among the global top 10 percent, you may not need as much money as you think. According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures.

A net worth of $93,170 U.S. is enough to make you richer than 90 percent of people around the world, Credit Suisse reports. The institute defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts.”

More than 102 million people in America are in the 10 percent worldwide, Credit Suisse reports, far more than from any other country.

You need significantly less to be among the global 50 percent: If you have just $4,210 to your name, you’re still richer than half of the world’s residents. And it takes a net worth of $871,320 to join the global 1 percent. More than 19 million Americans qualify, Credit Suisse reports.

These numbers reflect the extreme level of persistent wealth inequality. As Credit Suisse puts it, “While the bottom half of adults collectively owns less than 1 percent of total wealth, the richest decile (top 10 percent of adults) owns 85 percent of global wealth, and the top percentile alone accounts for almost half of all household wealth (47 percent).”

The good news is, “there are signs that wealth inequality is no longer rising,” Credit Suisse says.

The share of financial assets among many of the richest people and richest countries “peaked in 2015 and has been declining since then. In previous reports, we predicted that wealth inequality would follow suit — possibly with a slight lag — and there is evidence that this is now the case. The share of the top decile and the top 5 percent remains at the same level as in 2016, while the share of the top 1 percent has edged down from 47.5 percent to 47.2 percent according to our best estimate.”

It’s too early to conclude that wealth inequality is on a downward trend, Credit Suisse reports, but “the prevailing evidence suggests it may well have leveled out, albeit at a very high level.”

Don’t miss: How much money you need to be part of the 1 percent worldwide

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Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: kathleen elkins
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How much money you need to be part of the 1 percent worldwide

Just how much money do you need to be among the global 1 percent? According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts.” To be among the top 10 percent worldwide, you don’t even need six figures: A net worth of $93,170 will do it. These numbers reflect the extreme level of p


Just how much money do you need to be among the global 1 percent? According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts.” To be among the top 10 percent worldwide, you don’t even need six figures: A net worth of $93,170 will do it. These numbers reflect the extreme level of p
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How much money you need to be part of the 1 percent worldwide

Just how much money do you need to be among the global 1 percent?

According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts.”

More than 19 million Americans are in the 1 percent worldwide, Credit Suisse reports, far more than from any other country, while “China is now clearly established in second place in the world wealth hierarchy,” with 4.2 million citizens among the world’s top 1 percent.

To be among the top 10 percent worldwide, you don’t even need six figures: A net worth of $93,170 will do it.

And even if you have just $4,210 to your name, you’re still richer than half of the world’s residents.

These numbers reflect the extreme level of persistent wealth inequality. As Credit Suisse reports: “While the bottom half of adults collectively owns less than 1 percent of total wealth, the richest decile (top 10 percent of adults) owns 85 percent of global wealth, and the top percentile alone accounts for almost half of all household wealth (47 percent).”

The good news is, “there are signs that wealth inequality is no longer rising,” Credit Suisse says.

The share of financial assets among many of the richest people and richest countries “peaked in 2015 and has been declining since then. In previous reports, we predicted that wealth inequality would follow suit — possibly with a slight lag — and there is evidence that this is now the case. The share of the top decile and the top 5 percent remains at the same level as in 2016, while the share of the top 1 percent has edged down from 47.5 percent to 47.2 percent according to our best estimate.”

It’s too early to conclude that wealth inequality is on a downward trend, Credit Suisse reports, but “the prevailing evidence suggests it may well have leveled out, albeit at a very high level.”

Don’t miss: Here’s how much money the top 1 percent have in savings

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Company: cnbc, Activity: cnbc, Date: 2018-11-01  Authors: kathleen elkins, julian herbert, getty images entertainment, getty images
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The 1 percent makes over $1 million more than everyone else in the US

Income inequality is a persistent, growing problem in the United States, the Economic Policy Institute reports, and it’s gotten worse “in every state since the 1970s.” Americans in the top 1 percent of earners make an average of $1.32 million per year, compared to those in the bottom 99 percent, who earn just $50,107. In the chart below, the blue dot represents the average annual income for those in the bottom 99 percent and the red dot represents average annual income for those in the top 1 per


Income inequality is a persistent, growing problem in the United States, the Economic Policy Institute reports, and it’s gotten worse “in every state since the 1970s.” Americans in the top 1 percent of earners make an average of $1.32 million per year, compared to those in the bottom 99 percent, who earn just $50,107. In the chart below, the blue dot represents the average annual income for those in the bottom 99 percent and the red dot represents average annual income for those in the top 1 per
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The 1 percent makes over $1 million more than everyone else in the US

Income inequality is a persistent, growing problem in the United States, the Economic Policy Institute reports, and it’s gotten worse “in every state since the 1970s.” Americans in the top 1 percent of earners make an average of $1.32 million per year, compared to those in the bottom 99 percent, who earn just $50,107.

“In 2015, a family in the top 1 percent nationally received, on average, 26.3 times as much income as a family in the bottom 99 percent,” the EPI reports.

To find out where people in the top 1 percent make the most compared to those in the bottom 99 percent, How Much used EPI data to plot the average annual income for top earners in each state against that of the rest of the earners there.

In the chart below, the blue dot represents the average annual income for those in the bottom 99 percent and the red dot represents average annual income for those in the top 1 percent. The gray bar in between represents the size of the gap: The longer the bar, the larger the distance between the groups.

How Much: Income inequality in the United States.

Here are the top 10 places with the highest income inequality in the U.S.:


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: shawn m carter, dominic lipinski, getty images
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Income inequality continues to grow in the United States

The rich are getting richer and the poor are getting poorer, at least in the United States. The top 1 percent of families took home an average of 26.3 times as much income as the bottom 99 percent in 2015, according to a new paper released by the Economic Policy Institute, a non-profit, nonpartisan think tank in Washington, D.C. This has increased since 2013, showing that income inequality has risen in nearly every state. The paper looked at the income of families across the nation and assessed


The rich are getting richer and the poor are getting poorer, at least in the United States. The top 1 percent of families took home an average of 26.3 times as much income as the bottom 99 percent in 2015, according to a new paper released by the Economic Policy Institute, a non-profit, nonpartisan think tank in Washington, D.C. This has increased since 2013, showing that income inequality has risen in nearly every state. The paper looked at the income of families across the nation and assessed
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Income inequality continues to grow in the United States

The rich are getting richer and the poor are getting poorer, at least in the United States.

The top 1 percent of families took home an average of 26.3 times as much income as the bottom 99 percent in 2015, according to a new paper released by the Economic Policy Institute, a non-profit, nonpartisan think tank in Washington, D.C. This has increased since 2013, showing that income inequality has risen in nearly every state.

The paper looked at the income of families across the nation and assessed inequality at the state, metropolitan area and county level using data from the IRS. The incomes are averages of the IRS summaries of taxpayers in each income range.


Company: cnbc, Activity: cnbc, Date: 2018-07-19  Authors: carmen reinicke, spencer platt, getty images
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Barack Obama on wealth inequality: ‘There’s only so much you can eat’

Former United States President Barack Obama believes that ballooning wealth inequality is a threat to society, and that those who have the means should help those who are less fortunate. Wealthy people should give money to those who are less fortunate, Obama said in the speech, which was his highest-profile appearance since leaving office. In the years from 2009 to 2015, Obama gave more than $1 million to charities, according to Forbes. It’s also greatly reduced the demand for certain workers, h


Former United States President Barack Obama believes that ballooning wealth inequality is a threat to society, and that those who have the means should help those who are less fortunate. Wealthy people should give money to those who are less fortunate, Obama said in the speech, which was his highest-profile appearance since leaving office. In the years from 2009 to 2015, Obama gave more than $1 million to charities, according to Forbes. It’s also greatly reduced the demand for certain workers, h
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Barack Obama on wealth inequality: ‘There’s only so much you can eat’

Former United States President Barack Obama believes that ballooning wealth inequality is a threat to society, and that those who have the means should help those who are less fortunate.

“Right now I’m actually surprised by how much money I got,” the 44th President said in his address to more than 10,000 people gathered in Johannesburg, South Africa, on Tuesday. “There’s only so much you can eat. There’s only so big a house you can have. There’s only so many nice trips you can take. I mean, it’s enough.”

The Obamas made more than $20 million between 2005 and 2016 thanks in large part to two lucrative book deals, according to an analysis by Forbes.

Wealthy people should give money to those who are less fortunate, Obama said in the speech, which was his highest-profile appearance since leaving office.

In the years from 2009 to 2015, Obama gave more than $1 million to charities, according to Forbes.

“You don’t have to take a vow of poverty just to say, ‘Well, let me help out… let me look at that child out there who doesn’t have enough to eat or needs some school fees, let me help him out. I’ll pay a little more in taxes. It’s okay. I can afford it,’” Obama said.

“I mean, it shows a poverty of ambition to just want to take more and more and more, instead of saying, ‘Wow, I’ve got so much. Who can I help? How can I give more and more and more?’ That’s ambition. That’s impact. That’s influence. What an amazing gift to be able to help people, not just yourself.”

There have been significant improvements in global health and prosperity over the last hundred years, but many have been left behind, the former President said.

“While globalization and technology have opened up new opportunities, have driven remarkable economic growth in previously struggling parts of the world, globalization has also upended the agricultural and manufacturing sectors in many countries. It’s also greatly reduced the demand for certain workers, has helped weaken unions and labor’s bargaining power,” Obama said.

“And the result of all these trends has been an explosion in economic inequality. It’s meant that a few dozen individuals control the same amount of wealth as the poorest half of humanity. That’s not an exaggeration, that’s a statistic,” he said.

Indeed, 42 people have the same amount of wealth as the poorest half of the world, according to a study released in January by the global charity Oxfam. And 82 percent of the money made in 2017 went to the wealthiest 1 percent of the global population, the report says.


Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: catherine clifford, timothy hiatt, getty images
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