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Latest News
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6:48Chinese banks cut borrowing costs as PBOC signals easing
Chinese lenders lowered borrowing costs for a second straight month after the central bank cut policy loan rates and pledged more easing to stabilize the economy.
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6:14Global tourism about to rebound, luxury hotel operator says
Global tourism is on its way to a “long-term, sustainable recovery” as more travelers and countries recognize the endemic nature of COVID-19
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Rising costs add to pandemic pain for small businesses
Sharply higher costs are yet another challenge thrown at business owners by the global pandemic. The unpredictability of shipping, labor and the coronavirus itself have created an environment where owners are often left guessing about when products might arrive and how much they'll cost.
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5:55COVID pandemic may shift to endemic in 2022, Moderna chair says
The pandemic could start moving into an endemic phase in 2022, though countries will need to stay vigilant as the omicron variant spreads, according to Moderna Inc. co-founder Noubar Afeyan.
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LA port defers empty-box fee, seeks options to clear docks
The Port of Los Angeles, the U.S.’s largest for container traffic, has deferred a plan to charge ocean carriers that fail to clear empty containers off the docks and is consulting with the logistics industry on alternatives on how to cut the backlogs.
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4:28COVID loses most of infection capacity after 20 minutes in air
Coronavirus loses most of its ability to infect shortly after being exhaled and is less likely to be contagious at longer distances, a study from the University of Bristol’s Aerosol Research Centre showed.
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World Economic Forum warns cyber risks add to climate threat
The World Economic Forum says cybersecurity and space are emerging risks to the global economy, on top of existing challenges posed by climate change and the coronavirus pandemic.
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Sidney Poitier, actor who made Oscars history, dies at 94
Sidney Poitier, the Academy Award-winning Black actor who experienced in life many of the racial stresses explored in his films, has died. He was 94.
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U.S. SEC lays charges in insider trading scheme involving failed Aphria deal
The U.S. SEC is charging 3 Florida residents for their alleged involvement in an insider trading ring that is believed to have netted millions of dollars in profits, including from tips tied to an ill-fated attempted takeover of Aphria
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7:58‘Avengers’ directors sell stake in company to video-game maker at US$1.1B value
Video-game maker Nexon bought a US$400M minority stake in AGBO, the independent film production company co-founded by “Avengers” directors, allowing both parties to develop games and films based on new entertainment properties.
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What investors learned from the Elizabeth Holmes trial: 'zero'
It took a jury seven full days to conclude that Theranos Inc. founder Elizabeth Holmes was guilty of four counts of fraud after a three-month trial. The startup world had been watching in suspense, but it was largely for the spectacle of it all -- not because anyone thought the verdict would significantly change behavior in venture capital fundraising.
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Europe seeks green label for certain gas and nuclear projects
The European Union proposal to classify investment in some natural-gas and nuclear projects as sustainable exposed deep divisions among member states, underscoring the challenges facing the bloc as it reaches for an ambitious climate-neutrality goal.
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This was the year of the super billionaire, with US$1 trillion in gains
Elon Musk’s wealth soared to levels only ever achieved by John D. Rockefeller. Bill Hwang lost US$20 billion in days, Bill Gates -- once the world’s richest man -- divorced under a Jeffrey Epstein cloud.
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U.S. airlines cancel over 1,000 flights on day before New Year’s Eve
Airline cancellations are already piling up in the U.S., with 1,086 flights scrubbed as rising coronavirus cases hobbled staffing. Winter storms meanwhile threatened to further disrupt travel over New Year’s weekend.
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Ghislaine Maxwell found guilty in sex-trafficking case
Ghislaine Maxwell was found guilty in the case accusing her of luring and grooming underage girls for sexual abuse by Jeffrey Epstein, a verdict that offers some long-delayed justice for his victims.
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How will China change in 10 years under Xi’s common prosperity push? Citizens speak out
It’s been a year of overwhelming change for China, and the fundamental shift in the relationship among the country’s government, businesses and citizens is a long way from complete.
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COVID spreads to 89 cruise ships, prompting CDC investigations
The U.S. Centers for Disease Control and Protection identified 89 cruise ships with COVID-19 cases on Tuesday, nearly all of which have met the threshold for a formal investigation.
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Fearing the ax in 2022, CEOs sweat supply chain more than COVID
The C-suite is a bundle of nerves this winter. A new survey shows that 72 per cent of chief executive officers are worried about losing their jobs in 2022 because of business disruptions, tracking closely with the 94 per cent of bosses who say their corporate models need to be overhauled within three years.
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The cost of this year’s 10 worst climate disasters: US$170 billion
Ten of this year’s most destructive weather events cost a combined US$170 billion in damages, according to a new study.
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Jail where Jeffrey Epstein hanged himself reckons with future
A few hundred feet from Ghislaine Maxwell’s sex-trafficking trial is the dark, shuttered jail where her onetime boyfriend Jeffrey Epstein hanged himself and left her to answer for their alleged crimes.
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John Legend branches out into book publishing
John Legend's newest project brings him into the book business.
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8:10Billionaire economy is booming with private jets in short supply
The hunger for pricey jets is just the latest example of the booming billionaires economy, where demand for mansions, boats and many collectibles has surpassed pre-COVID levels.
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Art dealer pleads guilty to US$86M fraud scheme
A once high-flying international art dealer has pleaded guilty to selling the same works to multiple collectors in an US$86 million fraud scheme.
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Queen Elizabeth II is 'irritated' by world leaders' lack of climate action
Queen Elizabeth II has been overheard criticizing world leaders for a lack of action on climate change ahead of the COP26 summit in Glasgow.
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1:21Global tax overhaul endorsed by G20 finance ministers
Finance ministers from the world’s biggest economies endorsed a global accord overhauling how countries tax big corporations, setting it for approval by heads of state at a summit later this month.
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Kanye West lists Wyoming ranch with go-kart track for US$11 million
Kanye West once had big dreams for his sprawling ranch in northwestern Wyoming. Now it appears he is ready to make a change.
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Ambani joins Bezos, Musk in world’s exclusive $100 billion club
Mukesh Ambani, Asia’s richest person, joined Jeff Bezos and Elon Musk in the world’s most exclusive wealth club with a fortune of at least $100 billion.
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7:03Ireland abandons 12.5% tax pledge as global deal races to finish
Ireland is ready to sign up to a proposed global agreement for a minimum tax on companies, a climbdown that removes one hurdle to an unprecedented deal that would reshape the landscape for multinationals.
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Bill Gross found in contempt of court, gets suspended jail time
Bill and Amy Gross were found guilty of contempt of court for flouting a judge’s order not to annoy their California neighbor with loud music. The couple was sentenced to 5 days in jail, which was suspended because of COVID-19.
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Canadian mogul Peter Nygard has agreed to extradition to U.S.
Canadian fashion mogul Peter Nygard has agreed to be extradited to the U.S. to face charges of racketeering and sex-trafficking.
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Women's European football winnings doubled, still just 5% of men's
The prize money for the 16 teams taking part in Europe’s elite women’s international soccer competition, the UEFA European Championships, is to double to 16 million euros ($18.8 million), according to a statement from UEFA Thursday.
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6:50World’s wealthiest families gained US$312B over past year
Abundant liquidity, soaring stock markets and accommodating tax policies have been favorable for growing dynastic wealth. The world’s 25 richest families are worth US$1.7 trillion, a 22 per cent increase from a year ago.
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12:28Alexandria Ocasio-Cortez brings 'tax the rich' message to New York's elite
The emblazoned message on the white fabric was bold, blood red and on brand: TAX THE RICH.
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COVID hits European football player trading despite big names
Europe’s top soccer clubs spent less during the summer transfer window as the pandemic continued to hit their finances, even as the sport’s two most prominent players switched team.
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Bill Gates calls dinners with Jeffrey Epstein a 'huge mistake'
Bill Gates called his relationship with the late Jeffrey Epstein a “huge mistake” and that he regretted having dinner with the sex offender on several occasions in an interview with CNN.
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3:16Bill Gates and Melinda French Gates divorce becomes official
Three months after they first announced their split following 27 years of marriage, Bill Gates and Melinda French Gates are officially divorced.
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7:31Big rethink ahead for U.S. Chinese-listed stocks after ugly July
A clampdown by Beijing authorities led to the worst selloff since the financial crisis, prompting a broad reassessment for a burgeoning corner of the world’s largest stock market.
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Art collector sentenced to 3 1/2 years over US$1.3M fraud
A German art collector was sentenced to three and a half years in prison less time she’d already served after admitting to an art fraud involving the fake sale of a US$1.3 million yellow pumpkin sculpture by Yayoi Kusama.
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Billionaire ends U.K.'s largest divorce with US$186M deal
Billionaire Farkhad Akhmedov agreed to pay his ex-wife US$186 million, ending the largest financial dispute that Britain’s divorce courts have ever seen.
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Tokyo Olympics to ban spectators in city as virus resurges
The Tokyo Olympics will ban domestic spectators in events held in Japan’s capital, revising an earlier decision to allow some fans, as the resurgence of virus cases pushed the government to declare a state of emergency in the city.