Word: stockings
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...baby-boomer generation starts to die off and pass its property and other assets onto the next. Halifax Financial Services, one of the nation's leading home-mortgage firms, calculates that property worth $680 billion will change hands between now and 2020 - about 10% of the total housing stock in the nation and the largest transfer of housing wealth in British history. The impact is so big because the baby boomers have transformed home ownership: about 70% of households now own their own homes, more than double the 31% that did in 1946, according to Halifax, a subsidiary...
...news that a Massachusetts company, Advanced Cell Technology (ACT), had found a way to generate embryonic stem cells without destroying the embryo from which the cells came has already predictably raised the hopes of stem cell research supporters. But while ACT enjoyed a nearly 360% jump in its stock price after the news was reported Wednesday in the journal Nature, it's not at all clear that its achievement, while noteworthy for scientific reasons, has actually succeeded in resolving any of the ethical and moral objections - or even the legislative restrictions - to embryonic stem cell research...
...conservatively in cash, savings deposits and real estate. "The Asian rich have had a high propensity to hold cash," says Scott of BCG. "That was why private banking didn't take off for a long time in Asia." But several economic shocks?including the tech-stock crash of 2000 and the 9/11 terrorist attacks the following year?prompted the world's central bankers to slash interest rates in an effort to revive economic growth. With returns on savings deposits falling to around 1% (or even lower in Japan), Asia's wealthy were roused to seek alternatives. Today, they tend...
...sophisticated Asians, private banks now offer a slew of new investment products. One of the most popular: so-called structured notes, which are complex derivatives that often pay a guaranteed minimum return like bonds, or pay above the minimum depending upon the performance of other asset classes, such as stock-market indexes or commodities. "The beauty of structured products is you can tailor them to clients' needs," says Gary Tiernan, head of product management for Deutsche Bank in Asia. It's a buoyant enough business that Deutsche now has a structured-product team of five or six people in Singapore...
...lifelong right-winger from conservative stock (his grandfather was arrested as a war criminal after World War II, though never charged), Abe has visited Yasukuni repeatedly in the past. So far he has refused to say whether he would go as PM, but even if Abe defuses tensions over Yasukuni, he has other ways to rile Japan's neighbors. For a start, local media reported last week that he has plans to revise the country's pacifist constitution to allow Japan's self-defense forces greater participation in allied military operations?a signal that he's eager for Japan...