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Number of ultra-rich swells to almost 173,000

The world’s super-rich continued their seemingly unstoppable rise last year with the number of people worth $30m (£19.7m) or more expanding to 172,850. Between them they control nearly $22tn in assets – more than the national output of the US and Germany combined.

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Citigroup to make redundancies - memo

Citigroup is set to make a round of redundancies within its markets and securities business in the Europe, Middle East and Africa region, according to an internal memo sent to staff Tuesday and seen by IFR.