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Washington - While it is widely believed that money can not buy love, a new study has suggested that it can buy you happiness but only up to a ‘sweet spot’ of 36,000 dollars GDP per person. A new analysis led by economists Eugenio Proto in the Centre for Competitive Advantage in the Global Economy at the University of Warwick and Aldo Rustichini, from University of MInnesota found that as expected, for the poorest countries life satisfaction rises as a country’s wealth increases as people are able to meet their basic needs. However, the new surprise finding is that once income reaches a certain level – around 36,000 dollars, adjusted for Purchasing Power Parity (PPP) - life satisfaction levels peaks, after which it appears to dip slightly in the very rich countries. The researchers found suggestive evidence that this happiness dip in the wealthiest countries is because more money creates higher aspirations, leading to disappointment and a drop in life satisfaction if those aspirations are not met. The study was published in journal PLOS ONE.
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Analysis: What Stephen Miller gets wrong about debt, deficits and immigrati...

Analysis: What Stephen Miller gets wrong about debt, deficits and immigration **Federal Deficit Debate: Examining the Role of Immigration Policy** Recent pronouncements from a senior White House official have ignited a renewed debate regarding the drivers of the federal budget deficit, with a... read more »

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Snowflake rockets 35% on earnings beat and plan to spend $6 billion on Amazon cloud **Snowflake Deepens AWS Partnership, Unveils Ambitious Cloud Investment Strategy** **SAN MATEO, CA – [Date]** – Cloud data warehousing leader Snowflake announced today a significant expansion of its strategic... read more »

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Economy

RBI outlines broad plans on $150 billion bank bad loan resolution

The Reserve Bank of India (RBI) outlined the broad contours of a plan to resolve the $150 billion bad debt problem plaguing the country’s banks Mumbai: The Reserve Bank of India (RBI) outlined on... read more »

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Heavy Bikes, Luxury Yachts, Private Jets to Attract 31 ...

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Strong U.S. job growth, rising wages set stage for Fed ...

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Investing

Lloyds, two others dismissed from yen Libor litigation in U.S

NEW YORK (Reuters) – A U.S. judge on Friday dismissed Lloyds Banking Group Plc , ICAP Europe Ltd and Tullett Prebon Plc as defendants from litigation alleging a conspiracy among many financial... read more »

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India’s Avenue Supermarts IPO oversubscribed 106 ...

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Gold & Metals

Gold remains weak on low demand; silver recovers

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