Jack Ma-Backed Ant Plans Restructuring, Paving Way for HK IPO
Ant Group Co. is planning a restructuring that will break off some operations that aren’t core parts of
2023-07-26 10:46
Top Battery-Maker CATL’s Profit Soars 63% Amid EV Sales Boom
Chinese battery maker Contemporary Amperex Technology Co. Ltd.’s quarterly profit soared, powered by rising electric-vehicle sales globally and
2023-07-26 10:29
Oil Edges Lower After Four-Day Climb With Fed Decision in Focus
Oil edged lower after a four-day rally of almost 6% as traders took stock of the advance and
2023-07-26 09:58
Australia’s Cooler Inflation Bolsters Case for RBA to Stand Pat
Australia’s inflation rate slowed more than expected in the three months through June, reflecting global trends and bolstering
2023-07-26 09:58
L’Occitane Owner Said to Mull Buyout of $4.2 Billion Firm
L’Occitane International SA’s controlling shareholder is considering a move to take the skin-care company private, people with knowledge
2023-07-26 09:53
China Market Rally Needs Policy Follow-Up, Morgan Stanley Says
Imminent follow-through of actionable policy measures, especially those for the property sector, will be key to sustaining a
2023-07-26 09:45
Ouster of Xi’s Handpicked Foreign Minister Halts Rising Career
As foreign minister, China’s Qin Gang was expected to usher in an era of diplomacy that would help
2023-07-26 09:19
Chip Heavyweight Hynix’s Revenue Beats as AI Lifts Memory Demand
SK Hynix Inc. reported better-than-expected revenue, declaring the memory chip market is recovering because of surging interest in
2023-07-26 08:26
Tottenham owner Joe Lewis indicted in the US for ‘brazen insider trading scheme’
Tottenham owner Joe Lewis has been indicted in New York for “orchestrating a brazen insider trading scheme”, a US attorney said. Damian Williams, the US attorney for the Southern District of New York, said in a video released by his office: “Today I’m announcing that my office, the Southern District of New York, has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider trading scheme. “We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends. “Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing.” Mr Williams described Lewis’s behaviour as “classic corporate corruption”. He said: “Now, none of this was necessary. Joe Lewis is a wealthy man. But as we allege, he used inside information as a way to compensate his employees or to shower gifts on his friends and lovers. “That’s classic corporate corruption. It’s cheating, and it’s against the law. Laws that apply to everyone, no matter who you are. “That’s why Joe Lewis has been indicted and will face justice here in the Southern District of New York.” Lewis, 86, is the founder and primary investor of Bahamas-based investment firm Tavistock Group. He bought a controlling stake in the Premier League club from Lord Sugar in 2001 for £22million.
2023-07-26 07:52
Microsoft’s Azure Slowdown Overshadows Optimism About AI Growth
Microsoft Corp. posted tepid quarterly sales growth and forecast a continued slowdown in its Azure cloud-services business, overshadowing
2023-07-26 07:51
San Francisco’s Office Demand Surges, Largely Thanks to AI Companies
The worst of San Francisco’s office pain is showing signs of easing. Demand for offices in the city
2023-07-26 07:45
Visa Card Spending Tops Estimates With Strong Travel Demand
Visa Inc. reported card-spending growth that was more robust than Wall Street expected as consumer demand for travel
2023-07-26 07:17