As the credit crunch bites and a global economic crisis threatens, Robert Peston reveals how the super-rich have made their fortunes, and the rest of us are picking up the bill.
Economics
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Zambia’s copper resources have not made the country rich. Virtually all Zambia’s copper mines are owned by corporations. In the last ten years, they’ve extracted copper worth $29 billion but Zambia is still ranked one of the twenty poorest countries in the world.So why hasn’t copper wealth reduced poverty in Zambia? Once again it comes down to the issue of tax, or in Zambia’s case, tax avoidan
Apple. Intel. Genentech. Atari. Google. Cisco. Stratospheric successes with high stakes all around. Behind some of the world's most revolutionary companies are a handful of men who (through timing, foresight, a keen ability to size up other people, and a lot of luck) saw opportunity where others did not: these are the original venture capitalists. All were backing and building companies before the
Back in 1994, a man by the name of James Jebbia opened the first location for the brand known as Supreme, this initial small storefront was located on Lafayette Street in New York. Back then Supreme was known to be a brand for skaters but also run by skaters. The layout for the shop itself had even been designed to be wider, allowing for skaters to walk off the street into the store with
China may soon be the birthplace to half the world's billionaires but Singapore - the world's richest city - is where they go to play. Some of the rich and famous who have moved to the tiny Southeast Asian island republic include Indian telecom tycoon Bhupendra Kumar Modi, Chinese movie superstars Gong Li and Jet Li, New Zealand billionaire Richard Chandler, and famed US investor Jim Rogers. One i
The average American family today carries 10 credit cards. Credit card debt and personal bankruptcies are now at an all time high. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the American banking industry: more than $30 billion in profits last year alone. FRONTLINE examines how the credit card industry becam
Roger & Me is a 1989 American documentary film directed by Michael Moore. Moore portrays the regional negative economic impact of General Motors CEO Roger Smith's summary action of closing several auto plants in Flint, Michigan, costing 30,000 people their jobs at the time (80,000 to date) and economically devastating the city.
This Dutch documentary examines the silent revolution that is taking place in the United Arab Emirates (and the Gulf region in general) where Bedouin tents have been replaced by luxury and indulgence. While most of the world media’s Middle East focus has been portraying the region as a source of conflict, an incredible process of modernisation is taking place in the UAE, a process rarely seen befo
As countries like Greece and Spain struggle under huge debts that are impoverishing its people, the elites around the world are getting richer and richer. This documentary looks at the ever widening gap.There are customers that have up to 100 vehicles in their garage, Torsten Muller-Otvos from Rolls Royce tells us. A Rolls Royce is worth about half a million dollars and last year Rolls Royce s