CFM

The Latest at Forbes Monaco

Forbes Now

Monaco Edition

European Union Will Impose $4 Billion In Tariffs On American Goods Over Long-Running Boeing Trade Dispute
Money

European Union Will Impose $4 Billion In Tariffs On American Goods Over Long-Running Boeing Trade Dispute


In the latest development in a tit-for-tat trade dispute over aircraft subsidies, the European Union announced Monday that it would move forward with tariffs on $4 billion in U.S. goods.  KEY FACTS - The World Trade Organization authorized the…


read more
Ant Group Will Raise $34.5 Billion In Biggest IPO Ever

Ant Group Will Raise $34.5 Billion In Biggest IPO Ever


Ant Group, the financial technology arm of Chinese e-commerce giant Alibaba, plans to raise $34.5 billion when it lists its shares on the Hong Kong and Shanghai stock exchanges—that would make its initial public offering the largest in…


read more
Trading exchanges: Prospects and ways of evolution in the XXI century

Trading exchanges: Prospects and ways of evolution in the XXI century


The first attempts to create a platform for carrying out trade operations between those wishing to exchange one product for another appeared about 700 years ago. Even then, it became apparent to some business people that there was a need to…


read more

More from Money


Report: Trump Only Paid $750 In Taxes For 2016 And 2017

Report: Trump Only Paid $750 In Taxes For 2016 And 2017

President Donald Trump paid only $750 in federal income taxes for the years 2016 and 2017, as he successfully ran his 2016 campaign for president and began his first term as president of the United States, according to tax records obtained…


read more
Dow Rallies 350 Points, But Stocks Are Down For A Fourth Week In A Row

Dow Rallies 350 Points, But Stocks Are Down For A Fourth Week In A Row

The market rallied on Friday as tech stocks recovered some of their losses for the month, but Wall Street still posted its fourth straight week of losses amid ongoing uncertainty over fiscal stimulus and a resurgence in coronavirus cases. KEY…


read more
May The Secular Forces Be With You

May The Secular Forces Be With You

Group CIO Yves Bonzon has his eye in the economic and investing environment shaping the next decade. And one thing is for sure, cash is not king.   In mid-March, when the coronavirus outbreak was upgraded to a pandemic and…


read more
These Stocks Will Outperform The Market If A Coronavirus Vaccine Is Approved, According To Experts

These Stocks Will Outperform The Market If A Coronavirus Vaccine Is Approved, According To Experts

As optimism on Wall Street grows about potential FDA approval for a coronavirus vaccine, here are six stocks that could make outsized gains and rebound on the news, according to experts from Stifel. KEY FACTS - Stifel analysts recently highlighted…


read more
The U.K. Is Officially In Recession After Suffering The Deepest Slump In Europe

The U.K. Is Officially In Recession After Suffering The Deepest Slump In Europe

The severe economic toll of the coronavirus crisis in the U.K. is starting to emerge as closure of shops, restaurants, hotels and schools—ordered to save lives in the midst of the pandemic—has pushed the economy into its first recession…


read more
Global Investment Summit In Monaco Gathers Investors Worth $ 4.5 Trillion

Global Investment Summit In Monaco Gathers Investors Worth $ 4.5 Trillion

From July 28 to 30, Monaco hosted the 11th Global Family Office Investment Summit, which was attended by over 600 private investment offices and the richest people in the world with wealth over $4.5 trillion. The Ritossa’s Family Office…


read more
CMB Named Best Private Bank In Monaco, Pictet Wins Award For Switzerland

CMB Named Best Private Bank In Monaco, Pictet Wins Award For Switzerland

For the third year running, Compagnie Monégasque de Banque (CMB) has been named Best Private Bank in Monaco by World Finance magazine. “I am truly honored that CMB has been nominated this year again Best Private Bank in…


read more
Amazon

5 Big Numbers That Show Amazon’s Explosive Growth During The Coronavirus Pandemic

Here are five big numbers that show Amazon AMZN -3.7%’s explosive growth during the pandemic which has hurt much of the retail world. $570 billion That’s how much Amazon’s market capitalization has gained so far…


read more
London Tower Bridge

U.K. Economy Shrinks By A Fifth During First Three Months Of Lockdown

The U.K. economy shrank almost a fifth in the first three months of lockdown, mostly dragged down by a 20% fall in April, laying out the cost of shutting down entire industries in a bid to curb the pandemic, new data from the U.K.’s statistics…


read more
Forbes Monaco Millionaires

‘Please Tax Us’: Dozens Of Millionaires Urge Governments To Tax The Rich To Pay For Coronavirus Impact

A coalition of some of the world’s wealthiest people, including entertainment heirs Abigail and Tim Disney, have signed an open letter urging governments to tax them more to pay for the coronavirus crisis. KEY FACTS - Some 83…


read more
London Theatre

Netflix Donates £500,000 To Help UK Theater Workers

As theaters remain shuttered in both the United Kingdom and the U.S., Netflix announced late Sunday that they have made a £500,000 donation to initiate the Theatre Artists Fund, a new initiative to directly help British artists affected…


read more
Market

Stocks Are Rallying Too Much On Vaccine News, Says This Market Expert

While reports of positive data from potential coronavirus treatments have helped propel the market higher in recent months, investors are far too optimistic about a vaccine and stocks shouldn’t be rallying so much on each bit of news,…


read more
Tesla

Tesla Is Now The World’s Most Valuable Car Company With A $208 Billion Valuation

Tesla’s stock jumped to a new record high on Wednesday, giving the electric vehicle maker a valuation of more than $208 billion, which means that it is now the most valuable car company on the planet. KEY FACTS - Tesla’s stock has…


read more
Shares Of Boeing, Southwest Take Off Monday As FAA OKs Test Flight For Grounded 737 MAX

Shares Of Boeing, Southwest Take Off Monday As FAA OKs Test Flight For Grounded 737 MAX

Shares in beleaguered airplane maker Boeing Co. and Texas-based Southwest Airlines soared Monday as investors responded to multiple media reports that Boeing has received the green light from the Federal Aviation Administration to begin test…


read more
Hong Kong

China Warns U.S. ‘Meddling’ In Hong Kong Could Derail Phase One Trade Deal

Chinese officials recently expressed “strong dissatisfaction” with U.S. sanctions that came in response to a new national security bill on Hong Kong, warning that crossing “red lines” and meddling in what China considers…


read more
Tesla

Tesla Is Overvalued: Investors Are Treating It Too Much Like A Tech Company, Says Morgan Stanley

Analysts from Morgan Stanley on Tuesday warned that Tesla stock, at over $1,000 per share, is grossly overvalued and set to plunge, with too many investors ignoring the risks of running a car company and instead treating Tesla like a high-growth…


read more
Amazon Launches $2 Billion Fund To Invest In Climate Change

Amazon Launches $2 Billion Fund To Invest In Climate Change

After facing criticism about its environmental record in recent years, Amazon is launching a new $2 billion venture capital fund—as part of its “Climate Pledge” announced last September—that will invest in clean energy…


read more
London Coronavirus

U.K. Economy Plunges 20.4% As Global Stocks Waver Over Fears Of Second Wave

Latest statistics from the U.K.’s Office of National Statistics show the true cost of a full month of lockdown measures which led to the closure of all non-essential businesses. KEY FACTS - “April’s fall in GDP is the biggest…


read more
New York Stock Exchange

Nasdaq Hits Record High As Amazon, Apple Shares Jump

The stock market finished lower on Tuesday—although the Nasdaq Composite rallied to a new record high—a day after the S&P 500 turned positive for 2020 and fully recouped its losses from the selloff caused by the coronavirus…


read more
Michael Jordan

Michael Jordan And Jordan Brand Pledge $100 Million To Racial Equality

Michael Jordan and the Nike-owned Jordan Brand pledged to contribute $100 million over the next 10 years to organizations dedicated to racial equality, social justice and education access, in the largest corporate donation made in the response…


read more
LVMH Says It’s Not Seeking To Buy Tiffany & Co Shares On The Market As Doubts Are Cast On The Deal

LVMH Says It’s Not Seeking To Buy Tiffany & Co Shares On The Market As Doubts Are Cast On The Deal

French luxury conglomerate LVMH said it will not buy up shares of Tiffany & Co on the market in a bid to get a lower price for the American jeweler, as the company is seeking to renegotiate its $16.2 billion deal for the retailer hard hit…


read more
Roger Federer

Roger Federer Tops World’s Highest-Paid Athletes: Tennis Ace Scores First No. 1 Payday With $106 Million

Roger Federer has landed the top spot on the annual Forbes list of the highest-paid athletes for the first time this year with $106.3 million in pre-tax earnings. The Swiss ace is the first tennis player to take the No.…


read more
President Donald Trump

Stocks Turn Positive After Trump Keeps Phase One China Trade Deal Intact

The market fell sharply for most of Friday as investors braced for President Trump’s announcement regarding China, but despite new sanctions and penalties, stocks turned positive after the phase one trade deal was kept intact. KEY FACTS…


read more
Shanghai China

Seven Numbers That Sum Up China’s Economy Right Now

China’s powerhouse economy was the first to feel the squeeze as the coronavirus pandemic took hold earlier this year, and the damage is likely to last for years to come. As top Chinese lawmakers gathered at the National People’s…


read more
Credit Suisse Thinks These Cruise Stocks Will Jump Over 50%

Credit Suisse Thinks These Cruise Stocks Will Jump Over 50%

The cruise industry has been rocked by the coronavirus shutdowns, but Credit Suisse is making a bold bet that the stocks of two major players will surge over 50% and lead the industry’s eventual recovery. KEY FACTS - The firm initiated…


read more
‘Today’s Top Wealth Manager Requires More,’ Says CEO UBS Monaco

‘Today’s Top Wealth Manager Requires More,’ Says CEO UBS Monaco

Following UBS’s 1Q20 announcement of $1.6 billion net profit, Agnès Falco, CEO UBS Monaco, talks to Forbes Monaco about the uncertainty and unfamiliar times of Covid-19. UBS’s first quarter 2020 reflected high client transaction…


read more
Wall Street New York

Stocks Fall As Investors Anticipate Rocky Reopening, Possible Coronavirus Second Wave

Stocks opened lower on Monday morning as investors braced for the possibility of a second wave of coronavirus cases even as economies around the world take their first cautious steps toward reopening. KEY FACTS - The Dow Jones Industrial Average…


read more
American Airlines

Warren Buffett Sells Airline Stocks Amid Coronavirus: ‘I Made A Mistake’

Billionaire investor Warren Buffett, chairman of Berkshire Hathaway, told shareholders on Saturday that he had sold all of the company’s airline stocks, admitting that he had made a mistake and that coronavirus had changed the business…


read more
Barclays Group CEO, Jes Staley

No EU Coronabond Bailout, Barclays £100M Covid-19 Aid Package

The Bank of France reported Wednesday morning that the country’s economy has shrunk 6 percent in the first quarter of 2020, its worst performance since 1945, due the coronavirus lockdown. French economy minister Bruno Le Maire met on…


read more
Mathieu Ferragut and Jean-Christophe Maillot

Annual Report

A year ago Mathieu Ferragut stepped in as CEO at the only Monaco-based bank with local shareholders. Founded in 1922, CFM Indosuez has become the only Monaco-based bank with local shareholders. While Credit Agricoleowns 70% through its…


read more
Jean-Christophe Gerard Confirmed As CEO Of Barclays Monaco 

Jean-Christophe Gerard Confirmed As CEO Of Barclays Monaco 

“We are one of the top private banks in the region and the leading investment solutions provider for (U)HNW clients in Monaco,” says Jean-Christophe Gerard, who after stepping in as interim Head of Barclays Private Bank EMEA in…


read more
Antonio Cecere

Diamonds And Disruptors

Antonio Cecere Adds Clarity To A Luxury Asset Soaring In Value The Magnificent Jewels at Christie’s New York auction this April proved once again that fancy color diamonds are a top performing physical asset and an investment vehicle…


read more
In The Market

In The Market

Few know more about global real estate trends than Sophie Chick. THE AVERAGE PRICE per square meter in Monaco, according to Savills, increased by 18% last year while the number of new build sales also reached a record high in 2018. With a reputation…


read more
Spotlight On Monaco Property

Spotlight On Monaco Property

Prices in Monaco increased by an astounding 18% last year, at a time when the rest of the world’s prime residential hotspots were slowing or seeing value falls. However, Savills doesn’t expect the trend to continue at the same rate…


read more
Monaco Entrepreneurial Women 2019

Monaco Entrepreneurial Women 2019

THE STATE OF WOMEN-OWNED BUSINESSES REPORT 2018 CLAIMS THE NUMBER OF WOMEN-OWNED BUSINESSES IN THE U.S. HAS INCREASED NEARLY 3,000% SINCE 1972 AND WOMEN NOW MAKE UP 40% OF THE COUNTRY’S NEW ENTREPRENEURS. MONACO’S NETWORK OF FEMALE…


read more
At Law. Raising The Bar

At Law. Raising The Bar

Monaco lawyers make a case to protect their profession during EU association agreement talks. When news first broke in February 2015 of a dispute between Forbes 224th richest man on the planet, AS Monaco football club president Dmitry Rybolovlev,…


read more
Daniel Ricciardo

All Ale To The Winning Formula!

F1 driver Daniel Ricciardo taps into the largest craft brewery on the coast. For over fifty years, drivers have triumphantly sprayed champagne on the F1 podium. Swiss racer Jo Siffert can be credited with the ritual when, at the 1966 Le Mans…


read more
Irina

Better Than Grandma’s Chicken Soup

How one Monaco resident is steeping into a $7 billion protein market one cup at a time. THE VITAMINS AND NUTRITIONAL supplements market in the U.S. is expected to top $39.3 billion this year, reaching $50 billion by 2022. Where there is…


read more
Nico Rosberg

The Electrification Of Nico Rosberg

"Autonomous cars drive better than I do,” says F1 champ WITHIN A WEEK OF CLINCHING the 2016 Formula 1 World Championship—and beating Mercedes teammate Lewis Hamilton in the pro—Nico Rosberg retired at the peak of his…


read more
Agnes Falco UBS Monaco

Local CEO Banks On Family And Health

Agnés Falco may have a career in banking and finance spanning 20 years but for this CEO at UBS Monaco, the bottom line comes down to quality of life, for her team and her clients. “When people come…


read more
What to expect from 2019

What to expect from 2019

Markets have stabilized and opportunities exist but could volatility become a recurring theme? Investors had a rough ride in the fourth quarter of 2018, with a 17% peakto- trough decline in global equities followed by a 7% rebound into theNew…


read more
Lewis Hamilton

Monaco’s Wealthiest Athletes

With more than 300 days a year of sunshine, no income tax for residents and one police officer for every 74 people, Monaco is a pretty sweet deal for athletes who train year- round and like to keep a low profile. Ayrton Senna,…


read more
Opera Gallery Monaco