Oxfam predicted that the 1% would overtake the rest of the world this time last year.
The richest 1% now has as much wealth as the rest of the world combined, according to Oxfam. It uses data from Credit Suisse from October for the report, which urges leaders meeting in Davos this week to take action on inequality.
Brent crude fell below $28 a barrel in Asia on Monday for the first time in more than 12 years on fears about a worsening supply glut after Western sanctions on Iran were lifted, allowing Tehran to resume oil exports.
Up to half a million barrels per day of Iranian crude could be added to already saturated markets after US and European leaders ended a crippling embargo put in place over Tehran’s nuclear programme.
3. We go to the currency market now where
Currency Buying Selling
Dollar 3.80 4.00
Pound Sterling 5.58 5.60
Euro 4.14 4.50