Tokyo relishes top spot in rich list

Tokyo residents have the highest purchasing power in the world, edging out people in Los Angeles, Sydney, London and Toronto, according to a new survey.

Japan’s capital scored most in the survey by the Swiss banking giant UBS, which uses the Big Mac as its benchmark. Hungry Tokyo workers need only 10 minutes’ labour to earn enough to get their teeth into the burger. London came joint sixth, with 16 minutes of work required.