Rich Monitor

1. Diary: Utopia for Yacht Lovers

   Looking to get more from your yacht? Why not share it with others?

2. How The Rich Are Different: Recession Hits Investment Psyche

   The rich are different than you or me, and it turns out that the ultrarich are different than the mere well-to-do, according to a survey that asked wealthy investors about the effects of the recession on their portfolios and prospects.

3. Diary: Where to Buy Champagne?

   With just over a month left for Christmas shopping and currencies still yo-yoing, it pays to know which European city will give you the best deal on your purchases.

4. Luxury labels "should not be ashamed"

   At the 2009 Walpole Awards for Excellence in the UK luxury industry last night, luxury brands were urged to "hold their head high", and recognise the importance they play in supporting the British economy.

5. Family values pay off for Merck

   He is not yet two years old but already Thomas, the first member of the 13th generation of his family, is being initiated into the working of the family business – Merck, the world’s oldest pharmaceutical and chemical company.

6. Film icon tops list of biggest givers

   Paul Newman, the late American actor, has beaten film stars Brad Pitt and Angelina Jolie to the number one spot of the most generous US celebrity philanthropists in 2008.

7. Female entrepreneurs to double before 2010

   The number of so-called "lipstick entrepreneurs" are set to double to over two million over the next decade.

8. Swiss regulator won't cap bank, insurer bonuses

   Swiss banks and insurers will have to ensure that management bonuses are dependent on the institutions' long-term success, but bonuses won't be limited otherwise, Switzerland's financial markets regulator Finma said on Wednesday.

9. Big banks' pay on course to top $300bn

   The biggest banks in the US and Europe have so far set aside a total of $224bn (€149.5bn) for compensation and benefits this year, according to their third quarter results. It leaves them on track to top the $300bn mark for pay and bonuses for the full year, according to research conducted by Financial News/Wealth Bulletin.

10. Switzerland – post banking secrecy

    The Swiss government has bowed to international pressure and eased its bank secrecy rules, a move that some sceptics believe will make the country less competitive. But a low-tax environment and a high standard of living means that the Alpine nation continues to attract both wealthy individuals and companies.