Rich Life
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Sotheby's 3Q loss widens
Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.
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Going local --- In a shaky art market, collectors stick close to home
From Michigan to Italy, contemporary-art collectors are passing on works by international art stars and skipping far-flung art fairs and auctions. This year, they're buying local.
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In Tax Case, 4 Days Save Robertson $27 Million
What a difference four days can make.
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UBS predicts 11% rise in number of HNW UAE nationals
The number high net worth individuals, having minimum liquid assets worth SFr2m (€1.3m), in the UAE is likely to rise by 11% next year compared to a nearly 9% increase for the rest of the Middle East, UBS has forecast, according to a report in Emirates Business.
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Bonus boom will buoy luxury property market
A wave of around £6bn ($9.9) in bonuses expected to be distributed to City financiers in spring will support London's prime property market in areas such as Chelsea and Kensington, although the mainstream market is expected to continue to decline.
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Survey predicts 40% hike in year-end bonuses for Wall Street workers
Wall Street workers are poised to secure a nearly 40% hike in their year-end incentive compensation, a widely observed survey scheduled to be released on Thursday by Johnson Associates, a New York-based pay consulting firm, will show, according to a report in The Wall Street Journal.
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Research finds 35% decline in number of UK property millionaires
The number of UK real estate millionaires has plunged from 283,000 in November 2007 to merely 183,000 today, a study by property website Zoopla.co.uk has shown, according to a report in The Daily Telegraph, London.
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Life after the City: Emyr Thomas
For one former corporate financier, a taste for the London high life developed into a successful business managing the luxury lifestyles of City clients. Emyr Thomas tells his story.
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Hedge-fund billionaire triumphs in $27m tax case
A judge at New York’s Division of Tax Appeals last month rejected the local tax department’s argument that hedge-fund billionaire Julian Robertson owed the state $27m (€18.3m) in taxes for the year 2000, according to a report in The Wall Street Journal.
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Advisers 'Stress-Test' Family Business Plans
With conflicting signals about the pace and sustainability of U.S. economic recovery, it's crucial for family businesses to revisit their contingency plans, think about the positioning of their businesses and expectations about growth, according to financial advisers.
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Brummel
Relocation, relocation, relocation
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
Rich Monitor
Sotheby's 3Q loss widens
Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.
