Young adults (15-29) in South Korea face a severe job market crisis, with employment down 255,000 year-on-year, marking 43 consecutive months of decline. The wealth gap widens due to soaring real estate prices, disproportionately benefiting older generations.
Trump Accounts, launching July 4 with a $1,000 U.S. Treasury deposit for children born 2025-2028, aim to build long-term financial security. Experts question their impact on the wealth gap due to opt-in requirements and varying family contributions.
Elon Musk has become the world's first trillionaire, largely due to the market debut of SpaceX. This unprecedented wealth accumulation highlights a growing wealth gap, with many struggling financially while the richest see their fortunes accelerate.
Australia's billionaires saw their wealth surge by nearly $50,000 per minute in the past year, according to Oxfam. Meanwhile, Barnaby Joyce headlines an anti-abortion rally in Sydney, Peter Garrett leads an inquiry into Aukus, and a smart drug shows promise against cancer.
Australia's billionaires saw their wealth increase by nearly $50,000 per minute in the past year, according to Oxfam. Meanwhile, anti-abortion rallies gain traction, a smart drug shows promise against cancer, and Peter Garrett leads an inquiry into the Aukus pact.
South Korea's Deputy PM Bae Kyung-hoon stated that wealth generated by AI must benefit the public and address potential inequality and job losses. His comments follow labor tensions at Samsung Electronics and a proposal to distribute AI/semiconductor tax revenue to citizens.
China wants artificial intelligence to become a new engine of growth, powering everything from factory upgrades to scientific discovery. But outside the country’s technology hubs, the economic benefits promised by AI may be harder to realise. Recent studies suggest that AI will widen regional divides. Big cities with deep pools of talent, capital and innovative firms are best placed to adopt the technology, while smaller cities and rural areas may struggle to keep up. According to analysts, the...
A new Health Foundation report reveals a 20-year gap in healthy life expectancy between the wealthiest and poorest areas in the UK. Average healthy life expectancy has fallen by about two years over the decade from 2012-14 to 2022-24, with the UK ranking second-lowest among high-income countries. Men in the least deprived areas can expect 69.2 healthy years versus just 49.8 in the most deprived areas, while women show 68.5 years versus 48.2 years. The think tank warns this represents a significant economic cost and should be a watershed moment for policymakers.
