Italy experiences over decade of growth marred by growing inequality

STORY: Italy experiences over decade of growth marred by growing inequality SHOOTING TIME: June 3, 2024 DATELINE: June 4, 2024 LENGTH: 00:00:51 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of Italy 2. various of streets in Rome STORYLINE: While wealth in Italy grew over the last 15 years, the economic gap between high-income and medium-income families has also widened, a national report recently showed. Italy is the third largest economy in the European Union (EU) after Germany and France, and its total net wealth increased by about 14 percent between 2010 and 2023, according to the latest Bank of Italy's annual report. However, the distribution of wealth was increasingly uneven and mostly benefitted the wealthiest 10 percent of households, while middle-class families saw their relative share of wealth decrease. In terms of wealth distribution, Italy's population can be divided into three groups (top, medium, and bottom group), the central bank said. The top 10 percent of households

OECD urges reforms in Italian economy report

STORY: OECD urges reforms in Italian economy report SHOOTING TIME: Jan. 22, 2024 DATELINE: Jan. 23, 2024 LENGTH: 00:00:50 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of screenshots of the report 2. various of street views in Rome STORYLINE: The Organization for Economic Cooperation and Development (OECD) on Monday released a report on Italian economy, suggesting an array of reforms that it said would help the country avoid an economic slowdown. The Italian government's statistics entity has estimated that the country's economy grew 0.7 percent in 2023, slightly better than the EU estimate of 0.6 percent for the eurozone. In its report, the OECD said Italy was at risk of slower growth if it did not make certain reforms, including scaling back pensions for the wealthiest residents. "Reducing the generosity of pensions for high-income households could limit the increase in spending (on pensions), while maintaining adequate public services and social protections," the report said. The

Biden proposes 20 pct minimum tax on wealthiest in White House budget plan

STORY: Biden proposes 20 pct minimum tax on wealthiest in White House budget plan DATELINE: March 29, 2022 LENGTH: 00:02:10 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): JOE BIDEN, U.S. President 2. various of White House STORYLINE: The Biden administration on Monday proposed a new 20-percent minimum tax on the wealthiest, vowing to fix the tax code to ensure corporations and wealthy people "pay their fair share." "This minimum tax would apply only to the wealthiest 0.01 percent of households - those with more than 100 million U.S. dollars - and over half the revenue would come from billionaires alone," according to a White House fact sheet on President Joe Biden's budget for Fiscal Year 2023. SOUNDBITE (English): JOE BIDEN, U.S. President "Under my plan, as I said, no one making less than 400,000 U.S. dollars a year will pay an additional single penny in taxes. No one. If you don't make 400 grand, you're not going to pay a single penny in additional federal taxes. And the

Rihanna Is Now Officially A Billionaire

Rihanna Is Now Officially A Billionaire

File photo dated February 12, 2017 of Rihanna attends the 59th GRAMMY Awards at STAPLES Center in Los Angeles, CA, USA. Robyn "Rihanna" Fenty is officially a billionaire, according to Forbes. The business magazine, which tracks and publishes data on the world's wealthiest individuals, on Wednesday reported the 33-year-old pop star's estimated net worth to be $ 1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind Oprah Winfrey. Photo by Lionel Hahn/ABACARESS.COM

Rihanna Is Now Officially A Billionaire

Rihanna Is Now Officially A Billionaire

File photo dated March 22, 2015 of Rihanna attends the premiere of Twentieth Century Fox and Dreamworks Animation's Home at Regency Village Theatre in Los Angeles, CA, USA. Robyn "Rihanna" Fenty is officially a billionaire, according to Forbes. The business magazine, which tracks and publishes data on the world's wealthiest individuals, on Wednesday reported the 33-year-old pop star's estimated net worth to be $ 1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind Oprah Winfrey. Photo by Lionel Hahn/ABACAPRESS.COM

Rihanna Is Now Officially A Billionaire

Rihanna Is Now Officially A Billionaire

File photo dated June 5, 2018 of Rihanna at the World Premiere of Ocean's 8 at Alice Tully Hall at Lincoln Center in New York City, NY, USA. Robyn "Rihanna" Fenty is officially a billionaire, according to Forbes. The business magazine, which tracks and publishes data on the world's wealthiest individuals, on Wednesday reported the 33-year-old pop star's estimated net worth to be $ 1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind Oprah Winfrey. Photo by Dennis van Tine/ABACAPRESS.COM

Rihanna Is Now Officially A Billionaire

Rihanna Is Now Officially A Billionaire

File photo dated April 13, 2014 of Rihanna attends the 2014 MTV Movie Awards at the Nokia Theater in Los Angeles, CA, USA. Robyn "Rihanna" Fenty is officially a billionaire, according to Forbes. The business magazine, which tracks and publishes data on the world's wealthiest individuals, on Wednesday reported the 33-year-old pop star's estimated net worth to be $ 1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind Oprah Winfrey. Photo by Lionel Hahn/ABACAPRESS.COM

Rihanna Is Now Officially A Billionaire

Rihanna Is Now Officially A Billionaire

File photo dated May 19, 2017 of Rihanna attending the Okja Screening as part of the 70th Cannes Film Festival in Cannes, France. Robyn "Rihanna" Fenty is officially a billionaire, according to Forbes. The business magazine, which tracks and publishes data on the world's wealthiest individuals, on Wednesday reported the 33-year-old pop star's estimated net worth to be $ 1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind Oprah Winfrey. Photo by Aurore Marechal/ABACAPRESS.COM