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Interest rate cut, stock market slumped, cannot withdraw their saving from banks; Chinese people save their own skin by secretly buying gold bar

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Luxury Heir Alleges His $13 Billion Hermès Fortune Has Vanished​

  • Descendant loses Swiss court case against ex-wealth manager
  • Nicolas Puech accused Eric Freymond of ‘gigantic fraud’
A Hermès boutique in Paris.

A Hermès boutique in Paris.Photographer: Benjamin Girette/Bloomberg
By Tara Patel
July 30, 2024 at 5:00 PM GMT+8
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An octogenarian heir to the Hermès luxury fortune, who sparked controversy last year over a plan to leave his money to his gardener, may not have much to give away after all.

In the latest twist to the longstanding mystery surrounding Nicolas Puech’s billionaire status, a Swiss court this month threw out the 81-year-old’s allegations that his former wealth manager had a role in his fortune’s disappearance.
 

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ingapore’s Temasek to Invest $30 Billion in US Over Five Years​

  • State-owned investment firm looking to US for AI opportunities
  • Temasek’s Americas investments have surpassed those in China

By Marion Halftermeyer
July 30, 2024 at 6:12 AM GMT+8


Singapore’s state-owned Temasek Holdings Pte Ltd. plans to invest $30 billion in the US market over the next five years as the firm remains cautious on putting money into China.

“The Americas is going to be and continue to be the largest recipient of capital,” Jane Atherton, Temasek’s head of North America, said in an interview Monday.
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