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IF YOU had only $2,220 to your name (adding together your bank deposits, financial investments and property holdings, and subtracting your debts) you might not think yourself terribly fortunate. But you would be wealthier than half the world’s population, according to this year’s Global Wealth Report by the Crédit Suisse Research Institute. If you had $71,560 or more, you would be in the top tenth. If you were lucky enough to own over $744,400 you could count yourself a member of the global 1% that voters everywhere are rebelling against.
Unlike many studies of prosperity and inequality, this one counts household assets rather than income. The data are patchy, particularly at the bottom and apex of the pyramid. But with some assumptions, the institute calculates that the world’s households owned property and net financial assets worth almost $256trn in mid-2016. That is about 3.4 times the world’s annual GDP. If this wealth were divided equally it would come to $52,819 per adult. But in reality the top tenth own 89% of it.

THE train is often the best way to travel for business. Anyone heading to Paris from London for a meeting, for example, would be mad to choose an Airbus over a Eurostar. The journey time by rail may be more than twice as long—two hours and forty minutes compared with an hour and a quarter in the air—but that doesn’t take into account the fact that passengers must mope about the airport for a couple hours before boarding their flight. (Eurostar suggests turning up 30-45 minutes before the train leaves; for domestic trains you just need a few minutes.) Furthermore, unlike St Pancras station and Gare du Nord, Heathrow and Charles de Gaulle are some distance from the centre of town. In fact passengers will probably need to board a train to get there.
But time-saving is the least of it. In most instances, travelling by rail is simply more pleasant. Assuming that they have booked a seat and don’t have to squat in the aisles, passengers get more space, get a full-size window through which they can watch the world fly by and are able to get up and wander about. They may even get a table big enough to allow them to spread out their papers, laptop and a sandwich at the same…Continue reading

THE office parks of Silicon Valley boast many firms that are trying to change the world. But there are plenty with more modest goals. Zume Pizza, a tiny startup that is located a few miles from the sprawling headquarters of Google, wants to redesign the way pizzas are made. Zume has programmed robots to make pizzas that are then baked inside vans as they hurtle towards customers. Ovens are timed to finish cooking in sync with the vehicles’ arrival at their destination, so the pies are always piping hot.
In recent weeks spies from rival pizza companies and from food-delivery firms have been driving by in unmarked cars taking photographs of the office and the vans, says Julia Collins, one of Zume’s co-founders. To protect its business, the startup has patented the process of cooking food in ovens while a vehicle is moving (the patent probably gives Zume fairly defensible intellectual property, according to one patent lawyer). The company only operates in Mountain View, but has expansion plans. Since its founding last year it has reportedly raised $6m from investors, among them Jerry Yang, a co-founder and former boss of Yahoo, an early giant of the…Continue reading