There are now more billionaires in Asia than in the U.S., according to a report issued on Thursday. According to the UBS Group AG/PricewaterhouseCoopers study, there were 637 billionaires in Asia at the end of 2016, 117 more than the previous year. There were 25 new billionaires in the U.S., pushing the total to 563. U.S. billionaires control $2.8 trillion in wealth, about 40 percent more than their Asian counterparts. The wealth in the hands of the world's billionaires increased 17 percent to $6 trillion in 2016, the report says. The Swiss bank and the auditing house looked at data related to the assets of nearly 1,600 billionaires when compiling the report. –BLOOMBERG A fire that was presumably caused by an explosion has killed at least 47 people in an Indonesian fireworks factory. According to witnesses, there were two loud explosions at the factory near the capital, Jakarta: one at around 10 a.m. (0300 GMT), and another one three hours later. The first blast likely caused the fire. A police spokesman said 47 bodies have been recovered, while 46 people have been injured. Ten people remain unaccounted for. A search and rescue officer said the death toll is likely to rise. – REUTERS
There are now more billionaires in Asia than in the U.S., according to a report issued on Thursday. According to the UBS Group AG/PricewaterhouseCoopers study, there were 637 billionaires in Asia at the end of 2016, 117 more than the previous year. There were 25 new billionaires in the U.S., pushing the total to 563. U.S. billionaires control $2.8 trillion in wealth, about 40 percent more than their Asian counterparts. The wealth in the hands of the world's billionaires increased 17 percent to $6 trillion in 2016, the report says. The Swiss bank and the auditing house looked at data related to the assets of nearly 1,600 billionaires when compiling the report. –BLOOMBERG A fire that was presumably caused by an explosion has killed at least 47 people in an Indonesian fireworks factory. According to witnesses, there were two loud explosions at the factory near the capital, Jakarta: one at around 10 a.m. (0300 GMT), and another one three hours later. The first blast likely caused the fire. A police spokesman said 47 bodies have been recovered, while 46 people have been injured. Ten people remain unaccounted for. A search and rescue officer said the death toll is likely to rise. – REUTERS