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Investor’s Lawsuit Accuses 777 Partners of $600 Million Fraud
In a suit filed in federal court in New York, a firm that provided hundreds of millions of dollars to 777 accused the company of double-pledging its collateral to other investors.
Read moreBerkshire Reports Strong Earnings and Formidable Cash Stockpile
The company also disclosed in its first-quarter earnings that it had trimmed its stake in Apple, but Warren Buffett, its C.E.O., said he remained a fan of Apple.
Read moreIs It Good to Go Exclusive?
The exclusive period for Paramount’s potential merger with Skydance expired without a deal, highlighting the long-debated question of whether exclusivity is a waste of time.
Read moreBerkshire Hathaway’s big mystery stock wager could be revealed soon
Warren Buffett's bet, shrouded in mystery, has captivated Berkshire Hathaway investors since first appearing in disclosures late last year.
Read moreChina wants sci-fi industry, led by megahit 3 Body Problem, to help tech make the jump to lightspeed
In the spotlight due to the Netflix hit 3 Body Problem, China’s sci-fi industry saw revenues grow by 29 per cent year on year to 13.29 billion yuan (US$15.6 billion) in 2023.
Read moreStar Wars was the first Lego license — 25 years later, it's stronger than ever
The Star Wars license was the first of its kind for Lego. Now, it has become a blueprint for the company's other brand deals.
Read moreTesla Pullback Puts Onus on Others to Build Electric Vehicle Chargers
The automaker led by Elon Musk is no longer planning to take the lead in expanding the number of places to fuel electric vehicles. It’s not clear how quickly other companies will fill the gap.
Read moreHow Scammers Are Stealing Money From Food Stamps Recipients
Thieves are using skimmers to drain millions in food stamps and other public benefits from the neediest Americans.
Read moreGot an Idea for a Toy? Toymakers Want to Hear From You.
Companies like Lego and Mattel have divisions that seek out design concepts directly from collectors and other highly dedicated fan bases.
Read moreWhen a Bunch of Bloody Yanks Came for English Soccer
American investors are gobbling up the storied teams of the English Premier League — and changing the stadium experience in ways that soccer fans resent.
Read moreCalls to Divest From Israel Put Students and Donors on Collision Course
To get protesters off campus lawns, Brown University and others have agreed to consider ending investments linked to Israel. But how?
Read moreWhat Will Warren Buffett Bet on Next?
Berkshire Hathaway shareholders will gather in Omaha for the conglomerate’s annual meeting on Saturday, with questions about the company’s future.
Read moreSam Ash Music Stores to Close
The chain, which started with a single shop in Brooklyn in 1924, said it would close all 42 of its locations by the end of July, citing competition from online retailers.
Read moreBillionaire Donor Barry Sternlicht Assails Brown’s Deal With Protesters
The real estate mogul Barry Sternlicht’s scathing criticism of his alma mater is the most immediate blowback against the school’s deal to end protests on campus.
Read moreSkydance bid for Paramount hinges on Shari Redstone as special committee ends exclusive talks
Skydance is likely to walk away from its Paramount offer unless controlling shareholder Shari Redstone reaffirms her commitment following the Apollo-Sony bid.
Read moreAs Australian wine returns to China, how will industry cope when ‘good old days’ are gone and adversity remains?
After Beijing’s recent lifting of crippling wine tariffs that had been in effect since early in the pandemic, Chinese customers will need to be convinced to buy new stocks of Australian wine.
Read moreSEC Charges Trump Media Auditor With Fraud
Regulators said BF Borgers failed to abide by accounting rules that its public company clients are required to follow.
Read moreParamount Will Let Exclusive Talks With Skydance Lapse, Imperiling Deal
Negotiations are now likely to focus on another suitor, Sony, which has teamed up with the private equity giant Apollo on a $26 billion bid.
Read moreShould China’s once eastern backwater, Hefei, be an innovation poster child or a cautionary tale?
Hefei, the capital of the eastern Anhui province, has placed a heavy focus on innovation and emerging industries, including new energy vehicles, with officials from across China eager to copy the formula for success.
Read more'Garden floods show need to work with nature'
Insurance scheme urges gardeners to use planting to protect their homes from floods.
Read moreWorst-ever job interviews: 'We had to crawl and moo'
Dozens of jobseekers tell the BBC about their worst-ever interview experiences.
Read moreHave the wheels come off for Tesla?
As the electric carmaker sees sales fall and cuts jobs, we take a closer look at its problems.
Read moreCampus Protests Over Gaza Spotlight the Work of Student Journalists
Columbia University’s radio station and other student-led news outlets have provided some of the most detailed coverage of the turmoil engulfing university campuses.
Read morePolitical Furor Over U.S. Steel Bid Puts Cfius in Spotlight
Backlash over the deal has echoes of the 1980s when Nippon Steel tried and failed to buy another American metal company.
Read moreStock Market Rises After Jobs Report Revives Investors’ Hopes for a Rate Cut
A cooler-than-expected jobs report for April shifted the tone on Wall Street, rekindling investors’ expectations that the Federal Reserve may cut rates soon.
Read moreOverlooked No More: Min Matheson, Labor Leader Who Faced Down Mobsters
As director of the International Ladies’ Garment Workers’ Union, she fought for better working wages and conditions while wresting control from the mob.
Read moreImmigrant workers are helping boost the U.S. labor market
The government predicts that the influx of immigrant workers will grow gross domestic product over the next decade by $7 trillion.
Read moreU.S. Job Market Eases, but Hiring Remains Firm
Employers added 175,000 jobs in April, a milder pace than in the winter months, though layoffs have remained low and most sectors appear stable.
Read moreDave & Buster's plan to allow betting on arcade games draws scrutiny
An Illinois lawmaker is proposing legislation to prevent wagering at family entertainment venues, saying such companies don't have proper safeguards in place.
Read moreOil Companies Expand Offshore Drilling, Pointing to Energy Needs
Shell and others say they plan to drill for oil and gas in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land.
Read moreMike Repole, Horse Racing’s Loudest Critic, Is Kentucky Derby Favorite
The brash owner Mike Repole will take a break from tweaking horse racing’s powers when his colt Fierceness runs in the Kentucky Derby on Saturday.
Read moreTikTok, Facing US Ban, Tells Advertisers It Won’t Back Down
Hundreds of marketers and ad agency types flocked to TikTok’s annual sales presentation after a new law put its future in question.
Read moreAmgen stock soars on weight loss injection progress as Novo Nordisk, Eli Lilly shares slide
Amgen's update fueled concerns about potential new competition in the weight loss drug market, sending shares of Novo Nordisk and Eli Lilly lower.
Read moreThe Fed Is Looking for a Job Market Cool-Down. It Just Got One.
Wage growth and hiring slowed in April, prodding investors to slightly increase their bets on rate cuts this year.
Read moreLong-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
Starbucks, Pizza Hut and KFC are among the chains that reported same-store sales declines this quarter.
Read moreTalent war between family offices and Wall Street drives up salaries
Wealthy families are spending an average of $3 million to run their family offices, according to a J.P. Morgan Private report, and the biggest cost is staffing.
Read morePost Office lawyer accused of 'big fat lie'
Former senior Post Office solicitor Jarnail Singh denies knowing about Horizon bugs in 2010.
Read moreTata redundancy offer callous, say steel unions
Unions say company disregards the impact of its changes on workers, families and communities.
Read moreSlowdown in US job growth revives rate cut talk
Employers in the US added 175,000 jobs in the US in April, while the unemployment rate ticked up to 3.9%.
Read moreThe Perils of the Fed’s Vast Bond Holdings
The Federal Reserve is shedding assets at a glacial pace, exposing the financial system to continuing risks, our columnist says.
Read moreMedical Debt Shows Up Less Often on Credit Reports
But the Consumer Financial Protection Bureau said 15 million people still had medical bills in their files, which can make it hard to qualify for loans.
Read moreWater deal could harm regulation, says watchdog
Sutton and East Surrey Water has about 845,000 customers across the South East and London.
Read moreF.T.C. Clears Exxon Mobil’s Acquisition of Pioneer Natural Resources
The Federal Trade Commission will bar Pioneer’s chief executive, Scott Sheffield, from joining Exxon’s board, saying he colluded with OPEC to reduce oil production.
Read moreTaiwan, US enter ‘harder’ phase of trade talks as mainland China bristles
Trade talks between Taiwan and the United States for a phase-two deal have begun, with progress likely to be ‘harder’, analysts say, as more contentious topics fall under the microscope.
Read moreFor Labour Day break, Chinese tourists journey to Japan, visa-free destinations as South Korea’s appeal wanes
A cheaper Japanese yen is too appealing to pass up for many of China’s outbound holidaymakers, and tourism in South Korea is taking a hit.
Read moreTurkey halts trade with Israel over Gaza 'tragedy'
Officials say the measures will be in place until Israel allows an "uninterrupted and sufficient flow" of aid.
Read moreApple sales fall in nearly all countries
The tech giant says demand for its smartphones fell more than 10% in the first three months of the year.
Read morePost Office’s expert gave false evidence to court
Expert suggested bug fix which would alter data without branch knowing, but told court that was impossible.
Read moreHong Kong’s stock market rebound: dead cat bounce or durable recovery?
Technical factors, like the unwinding of the ‘Asia ex-China’ trade, seem to be driving Hong Kong’s stock rally, as opposed to underlying fundamentals. In the longer run, the narrative around China’s economy and markets has to brighten considerably if Hong Kong stocks are to continue their recovery.
Read moreTrain strikes: How May's disruption affects you
Train drivers are staging strikes and an overtime ban around the May Bank Holiday.
Read moreHow the computer games industry is embracing AI
Developing computer games can be wildly expensive so some hope that AI can cut the cost.
Read moreAmgen scraps experimental weight loss pill, moves forward with injection
Amgen is among several drugmakers racing to join the red-hot weight loss drug space dominated by Novo Nordisk and Eli Lilly.
Read moreChina wants ‘patient capital’ to fund its tech drive. Will slow and steady win the race?
In an official communique, China’s Politburo said ‘patient capital’ is expected to pitch in as the country moves towards a tech-driven growth model, showing a much-needed focus on the long term, analysts say.
Read moreHow progress, not just profit, drives China’s approach to industry
Rather than being out to undermine economies around the world, China’s economic policy is based on foresight, efficiency and commitment to scale. Decoupling would not only disrupt supply chains but increase the cost of the global energy transition amid our ongoing climate struggle.
Read moreCampus Protests Give Russia, China and Iran Fuel to Exploit U.S. Divide
America’s adversaries have mounted online campaigns to amplify the social and political conflicts over Gaza flaring at universities, researchers say.
Read moreGlamping Beneath the Stars in Utah
Would cloudy weather ruin a visit to the first-ever resort to receive certification from DarkSky International? A stargazer in Utah holds on to her optimism.
Read moreWayfair shares surge after furniture retailer cuts losses by more than $100 million
Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.
Read morePeloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.
Read moreSony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid
Sony and Apollo showed formal interest in a Paramount Global buyout as Paramount's special committee is prepared to give its recommendation to Skydance.
Read moreModerna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold
The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of its RSV vaccine.
Read moreSony, Apollo Express Interest in Buying Paramount
Paramount has been exploring a potential deal for months, talking to suitors including Skydance, producer of “Top Gun: Maverick.”
Read morePeloton CEO Barry McCarthy Steps Down as Company Cuts 15% of Workers
Barry McCarthy took over as C.E.O. in February 2022 to revive Peloton from its late-pandemic slump, but the company has struggled to become profitable.
Read morePost Office 'saw postmasters as enemies'
A former top lawyer at the postal group admitted its security team took an "adversarial" approach
Read moreThe Judge Deciding Google’s Landmark Antitrust Case
Amit P. Mehta, a judge in U.S. District Court for the District of Columbia, will issue a landmark antitrust ruling.
Read moreGlobal Growth Forecast Is Lifted but Risks Loom, O.E.C.D. Says
The global economy has proved resilient and inflation has declined, but any widening of the conflict in the Middle East could increase price pressures and dampen growth.
Read moreThe Fed Is Eyeing the Job Market, but It’s Difficult to Read
Fed officials are watching labor trends as they contemplate when to cut rates. But different measures are telling different stories.
Read moreGoldman Sachs removes bankers' bonus limit
Investment bank becomes the first to bring in changes first announced by Kwasi Kwarteng in 2022
Read moreWeight loss drug wins 25,000 new US users a week
Novo Nordisk is under pressure to cut US prices of its weight loss drug, as demand soars.
Read moreNorth Carolina Triad Tries to Reinvent Its Economy
North Carolina’s Triad was built on tobacco, textiles and furniture. Now it’s trying to forge a new economy from more highly skilled manufacturing.
Read moreUniversal Music Artists Will Return to TikTok
The two companies reached a new licensing deal, ending a three-month stalemate that kept some of pop’s biggest stars off the platform.
Read moreIn Asia, US dollar’s growing strength gives rise to stability concerns, suspected rate intervention
Analysts say China’s central bank, with an eye on the yuan’s stability, could let it weaken gradually, but such a move ‘could backfire to some degree’.
Read moreWalnuts Recalled From Whole Foods After E. Coli Outbreak
The outbreak linked to shelled organic walnuts distributed by Gibson Farms has sickened 12 people and hospitalized seven in California and Washington State, federal officials said.
Read moreDave & Buster’s to Allow Betting on Arcade Games
A software company announced it had teamed up with the arcade and restaurant chain to allow betting in the future through the Dave & Buster’s app.
Read morePasteurized Dairy Foods Free of Live Bird Flu, Federal Tests Confirm
But the scope of the outbreak among cattle remains uncertain, and little human testing has been done.
Read moreRepublicans Call on NPR’s Chief, Katherine Maher, to Testify on Bias
Katherine Maher, the radio network’s new chief executive, has been in the spotlight since an editor published an essay accusing the organization of leftward-leaning bias.
Read moreWhat Will It Take for the Fed to Lower Interest Rates?
Stubbornly high inflation has scrambled the central bank’s outlook. Wall Street is now shifting focus to Friday’s jobs report for clues on its next move.
Read moreWhat can you do if a gig gets called off?
After Olivia Rodrigo is forced to delay her gig at the Co-Op Live venue - can fans get their cash back?
Read moreChina property: new stimulus is on the way as Politburo pledges to cut housing inventory, say analysts
A new wave of property stimulus measures is brewing that should fuel a recovery in market sentiment across China as the country’s top decision-makers pledged to tackle housing inventories, according to analysts.
Read moreTikTok and Universal settle music royalties dispute
The deal means songs from artists including Ariana Grande and Drake can be used on the platform again.
Read moreCarvana shares spike 30% as used car retailer posts record first quarter
Carvana reported record first-quarter results Wednesday that beat Wall Street's top- and bottom-line earnings expectations for the online used car retailer.
Read moreChina’s C919 passes ‘deep level’ post-flight safety tests, ramps up rivalry with embattled Boeing
A crew of more than 60 checked a China Eastern Airlines C919 during four days of tests in Shanghai.
Read moreUK forecast for slowest growth of richest nations next year
The UK economy will remain “sluggish” due to the impact of interest rate rises, the OECD says.
Read moreHorse Racing Deaths Raise Questions About Sport’s Future
The breakdown of 12 horses in the days surrounding the celebrated race a year ago has led to existential questions about the sport and its future.
Read moreNavigating the Fine Line Between Art and Luxury
The boundaries between art, fashion and luxury seem to be melting away. That’s great for brands, but what about artists — and the art?
Read moreUber faces £250m London black cab drivers case
The case against the US-based ride-hailing giant is being brought on behalf of over 10,800 drivers.
Read moreTo call the likes of China and India ‘developing’ is, frankly, insulting
Given the prosperity and world-leading innovations of so-called emerging economies, from China and India to South Korea and Qatar, the ‘developing’ label is outmoded, outdated and patronising.
Read moreBulgarian Distrust of Russia Simmers Over a Black Sea Oil Terminal
Russia has been losing its grip on the Rosenets Oil Terminal, near the port city of Burgas, as Bulgarian authorities seek to assert greater control over the Russian-run facility.
Read moreUS warns rates to stay high as it battles inflation
The US central bank has left interest rates unchanged again, noting a "lack of further progress" on inflation.
Read moreBuilding gigafactory 'going to be a wild ride'
The CEO of what will be the UK's biggest electric car battery plant says he's 'up for the challenge'.
Read moreJohnson & Johnson Proposes $6.5 Billion in New Talc Settlement Offer
The offer is the company’s third attempt to resolve tens of thousands of claims that its baby powder caused ovarian cancer and mesothelioma.
Read moreHong Kong stocks enter bull market: banks, insurers gain after Fed rate decision as China’s policy support adds to cheer
Banking and insurance stocks boosted the Hang Seng Index close to bull market territory with the overall sentiment remaining upbeat following Beijing’s recent efforts to prop up stocks.
Read moreAs China seeks new economic growth, is it time to unleash the power of the ‘she-conomy’?
A growing ‘she-conomy’ in China is leading to the working-age female population playing a leading role in personal spending and family purchases amid Beijing’s shift away from an investment-led growth model.
Read moreThe insect farmers turning to AI to help lower costs
Makers of insect-based animal feed hope to be able to compete with soybeans on price.
Read moreFed Holds Rates Steady, Noting Lack of Progress on Inflation
The Federal Reserve left interest rates unchanged for a sixth straight meeting and suggested that rates would stay high for longer.
Read moreIn Latest Stunt, Airbnb Lists the ‘Up’ House. It Floats.
The company announced a new category of outlandish stays in partnership with brands and celebrities, building on the success of gimmicks like the Barbie Malibu DreamHouse.
Read moreKlobuchar Asks Regulators to Investigate MultiPlan Over Health Care Pricing
A data analytics firm has helped big health insurers cut payments to doctors, raising concerns about possible price fixing.
Read moreUS concern about China’s overcapacity is a non-issue, just like in 2009
The narrative around Chinese overcapacity sounds similar to that during the global financial crisis when, as a result of its massive stimulus package, China became the world’s largest exporter amid weak demand. Today, China’s green capacity should be viewed within the broader framework of climate change cooperation.
Read moreGiant Pandas Are Returning to San Diego, China Announces
“Panda diplomacy” has represented an area of cooperation between the United States and China despite tension over weighty issues of trade and national security.
Read moreViking shares rise 8% after cruise line operator's market debut
The company's initial public offering coincides with a strong rebound in cruise bookings.
Read moreJ&J hopes for deal with third talc settlement
The firm has set aside about $11bn to address claims its talc products caused cancer.
Read moreJohnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.
The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.
Read moreCVS shares plummet as health company slashes profit outlook on higher medical costs
CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.
Read morePfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.
Read moreNASCAR and Its Race Teams Fight Over the Sport’s Future
Team owners said they needed to share in racing’s financial success, putting them at odds with the privately held business that runs the sport.
Read moreUnitedHealth’s CEO Slammed Over Cyberattack
Several lawmakers questioned whether the company had become so large — with tentacles in every aspect of the nation’s medical care — that the effects of the hack were outsize.
Read moreWhat Fed Rate Moves Mean for Mortgages, Credit Cards and Student Loans
Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.
Read moreThe Fed Tries to Steer Clear of Politics, but an Election Year Is Making It Tough
Economists are wondering whether political developments could play into both the Fed’s near-term decisions and its long-term independence.
Read moreBally Sports regional networks go dark for Comcast cable customers
Carriage negotiations between Comcast and Diamond Sports broke down, leaving cable customers without access to Bally Sports regional networks during MLB season.
Read moreFederal Money Is All Over Milwaukee. Biden Hopes Voters Will Notice.
White House officials have barnstormed Wisconsin to make the connection between big changes and their signature laws.
Read moreTruth Social Co-Founder Says Trump Nearly Derailed Deal That Led to Market Windfall
Andy Litinsky, who helped start the former president’s social media company, revealed Mr. Trump’s last-minute doubts about an agreement that made them all very wealthy.
Read moreU.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort
The penalties came after top Biden administration officials warned China not to help Moscow restock its arsenal to attack Ukraine.
Read moreApple working to fix alarming iPhone issue
Users have been reporting unexpected lie-ins after the alarms on their phones failed to go off.
Read moreZwirner Anchors Los Angeles Art Neighborhood With New Gallery
Its flagship will open with a 30th-anniversary exhibition featuring works by all of the gallery’s 80 artists.
Read moreNYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'
CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.
Read moreJob Openings and Hiring Are at a 3-Year Ebb
March data showed a cooling labor market, but layoffs remain low. The overall trend is likely to be welcomed by Federal Reserve policymakers.
Read moreBelarus firm accused of bypassing UK sanctions
MP claims a garage door parts company is getting round import bans imposed after Russia's invasion of Ukraine.
Read moreStarbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag
Across all regions, Starbucks reported shrinking same-store sales and falling traffic.
Read moreBiden Cancels $6.1 Billion in Debt for Former Art Institute Students
The announcement covers 317,000 former students and marks another step in the administration’s student loan relief efforts.
Read moreYum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint
KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.
Read moreChina halves rice-growing cycle in deserts of Xinjiang, opening new front in food security drive
Scientists have successfully grown rice in the harsh deserts of China’s Xinjiang region in half the time compared to conventional farming methods, a major step in the country’s campaign to ensure food security.
Read moreTesla staff say entire Supercharger team fired
The division responsible for the car-maker's huge fast-charging network is being axed to cut costs.
Read moreEx-Camelot boss named as new Post Office chairman
Nigel Railton is confirmed as interim chairman of the Post Office after Henry Staunton's sacking.
Read moreThe Marijuana Industry Hopes for New Highs
The Justice Department’s recommendation that restrictions on marijuana be lifted have revived expectations for a business that has waited years for such a change.
Read moreTo train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education
Dealership employees, who are employed outside Ford by dealers, are crucial for the company's sales, performance and customer engagement and satisfaction.
Read moreHouse prices fall as lenders raise mortgage rates
The Nationwide says the average cost of a home was down 4% on the peak seen in the summer of 2022.
Read moreChinese women are teaming up with strangers to save money
They are finding new ways to cut back on household spending as China’s economy loses steam.
Read moreChina’s job-hungry youth offered lifeline by South Korean university with its ‘exemplary employment-linked model’
A South Korean university is launching a new associate degree programme exclusively for international students as it battles labour and population issues, with some also faced by China.
Read moreIndia's economy: The good, bad and ugly in six charts
India has one of the world's fastest growing economies but the benefits are yet to fully reach the poorest.
Read moreTatti Lashes: The school friends who built a beauty empire
Charlotte Tiplady and Elliot Barton explain how together they built up their Tatti Lashes beauty empire from Liverpool.
Read moreChina has yet to join the ‘rich country’ club. Has the middle-income trap been sprung?
Predictions China would have already joined the group of high-income nations have yet to bear fruit. Is it still possible to break through the middle-income ceiling – and is it still an important benchmark?
Read moreNBC Sports could buy back rights to iconic theme song 'Roundball Rock' if it airs NBA games again, composer John Tesh says
NBC Sports can license the rights to John Tesh's famous "Roundball Rock" theme song if it secures a new NBA media package, Tesh said in an e-mail.
Read moreFTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic
The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.
Read moreMcDonald’s earnings miss estimates as diners pull back, Middle East boycotts hit sales
McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.
Read moreEli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro
Zepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.
Read moreWalmart to shutter health centers, virtual care service in latest failed push into health care
Walmart said clinics are not a sustainable business model due to a challenging reimbursement environment for primary care and increasing operating costs.
Read moreHome prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller
It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.
Read moreCoca-Cola tops earnings estimates, hikes revenue outlook on higher prices
Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.
Read moreChina’s exports to Mexico are getting heavier tariffs – is it a sign of more to come?
With new tariffs being imposed by Mexico on most Chinese imports, observers and analysts disagree on whether stricter measures are being considered – but most say pressure from the US is at play.
Read moreChina, South Korea vie for advanced shipbuilding orders as battle of the supertankers heats up
QatarEnergy will pay China State Shipbuilding Corporation billions of US dollars for 18 tankers in a deal hailed as the industry’s biggest shipbuilding contract ever.
Read moreHow China’s third plenums have reshaped its economy – and what to expect this year
China’s Communist Party will hold one of its most-watched meetings in July, as analysts predict the political body will lay out reforms to aid in the country’s economic recovery.
Read moreOutlook ‘significantly brighter’ for Hong Kong stocks, as US$5 trillion market attracts global investors rotating out of US, Japanese shares
Hong Kong stocks emerged as the best-performing key market globally in April, after funds sought bargains by shifting out of expensive US and Japanese equities and as China’s growth shows more signs of stabilising.
Read moreChina’s private pension push marred by weak financial literacy, as ‘people still have no idea’
After a stretch of trials in select Chinese cities, there is rising urgency to rapidly expand use of the underperforming retirement accounts as demographic challenges mount.
Read moreChina’s factory activity grows at slower pace in April as order, price pressure undercuts economic recovery
China’s official manufacturing purchasing managers’ index (PMI) remained in expansion territory for a second consecutive month in April, although the pace slowed as officials admitted that manufacturers are facing higher costs.
Read moreMigrants hit by high fees to send money home
Sending money across borders, particularly in Africa, can still be expensive.
Read moreChery’s Jetour unit plans right-hand drive cars to expand to Malaysia and Indonesia as competition escalates in China’s automotive market
Jetour targets markets like Malaysia and Indonesia with right-hand drive models as globalisation drive accelerates.
Read moreChina should bail on US bonds even faster, scholar says, as bilateral tensions and anxieties mount
A highly placed scholar is encouraging China to offload more of its holdings in Treasuries as overseas assets become a riskier proposition thanks to erratic geopolitical shifts.
Read moreBYD’s first-quarter profit, deliveries slump as world’s largest EV maker reels from a bruising price war in China
The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.
Read moreC919 mega-purchase by China’s flagship airline lifts home-grown jet in competition with Boeing
New deal adds years of additional business for China’s state-owned manufacturer and may boost investments while further fuelling purchases of the narrowbody plane.
Read moreChina’s consumers seek security in ‘the only safe asset’ as gold purchases remain strong
Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.
Read moreState Street says Asia-Pacific institutional investors keen on private assets even as inflation, elevated borrowing costs subdue appetite
High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.
Read moreSwarovski moves up from crystals to lab-grown diamonds as CEO Alexis Nasard plays ‘the long game’ to get over China’s consumption slowdown
Austrian crystal maker Swarovski has launched a lab-grown diamonds collection in China, in a sign that it has confidence in its second-largest market by sales despite some economic turbulence.
Read moreChina is still a developing country despite what US leaders might say
In recent years, American politicians have been seeking to challenge China’s status as a developing country Despite building a “moderately prosperous society”, the Chinese economy is still not considered high-income, and parts of the country still face unbalanced development.
Read moreOvercapacity or ‘over anxiety’? China hits back at Western claims of dumping
State news agency rejects allegations that Chinese EV firms are exporting a glut of electric vehicles.
Read moreChengdu becomes latest major Chinese city to unveil housing market support measures, scraps home purchase qualifications
The measures effective from Monday range from the removal of restrictions on homebuyers to support for the funding needs of developers.
Read moreChina jobs: anxious young jobseekers ‘stuck in a rat race’, forced to ‘lie flat’ as unemployment remains a headache for Beijing
Creating enough jobs for its young people remains a daunting challenge for Beijing, with the key private sector struggling to shake off scars of the coronavirus pandemic.
Read moreSomeday soon China might dominate the hydrogen supply chain too
EU and US manufacturers already complaining of Chinese competition in solar power and electric vehicles won’t like China’s hydrogen policy. As it moves to produce hydrogen using renewable energy, this could become an important part of the world’s low-carbon future.
Read morePremier Li Qiang meets Elon Musk in Beijing, raising hopes of Tesla’s autonomous driving push
Billionaire Elon Musk flew into Beijing on Sunday, meeting Premier Li Qiang and hoping to bring Tesla’s autonomous driving technology to China amid intensified competition with local electric vehicle makers.
Read moreChina EV price war to worsen as market share takes priority over profit, hastening demise of smaller players
China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.
Read moreChina’s drive for tech progress stifled by ‘title-driven’ research approach
China is demanding more and better research to unearth the technology of tomorrow – but a research culture based around titles and participation in certain programmes is limiting the potential of its scientists.
Read moreChina’s international flights set to take off, buoyed by May Day holiday, but US travel suffering delays
Air China will start to add international flights from Sunday, while bookings ahead of May Day holiday have surged, but flights to US are having a sluggish recovery.
Read moreLike the US and EU, China uses subsidies. It just does it more effectively
China’s subsidies have been more effective than in most parts of the world because they are an intrinsic part of a distinct economic model. Rather than targeting China, the US and Europe should examine the effectiveness of their own economic strategies.
Read moreChina’s exporters shun the yuan, embrace alternatives as depreciation fears build
China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.
Read moreChina eyes food security boost from gene-cloned Asian soybean rust ‘breakthrough’, could save US$2 billion per year
Team led by a group of Chinese researchers cloned a specific gene that is resistant to Asian soybean rust amid Beijing’s focus on food security and tech self-reliance.
Read moreChina strikes oil with new high-yield rapeseed, making strides in food security
A new type of rapeseed engineered in China can improve upon yields by 50 per cent, increasing the domestic harvest of edible oil and lessening the country’s reliance on imports.
Read moreWhy green steam is a hot issue for business
Steam is still needed in many industries, but much of it is still made with fossil fuels.
Read moreChina’s beefed up statistics and accounting laws under review, robust fines to increase cost of fraud
China is reviewing amendments to laws governing statistics and accounting, with Beijing eager to clamp down on inflated or manipulated economic statistics and uphold rules in the world’s second-largest financial market.
Read moreWhy China’s reform of state-owned enterprises matters more than ever
China’s campaign to improve the financial performance of listed SOEs comes as Japan’s stock market is benefiting from corporate governance reforms. However, China is not Japan. Beijing is battling a structural downturn, and corporate governance reforms alone are not going to turn sentiment around.
Read moreChina preps for clampdown on financial crimes with new version of anti-money-laundering law
China is readying a revision of its law on money laundering, signalling a hardening of penalties for financial crimes and a desire to keep practices in line with international standards.
Read moreClimate disclosures: China’s ESG rules for listed firms could spur private firms to set net-zero targets, analysts say
‘Private firms are obviously looking at the torch that is potentially coming for themselves,’ when it comes to declaring emissions goals, says Net Zero Tracker project leader
Read moreChina’s food security push catches ‘grain-stealing mouse’ among 5 accused of US$3.45 million corn theft
Police in northern China have detained five people for allegedly colluding to steal about 10,000 tonnes of corn amid Beijing’s increasing focus on food security.
Read moreChinese, US corporate leaders propose to defuse trade tension on supply chain, new-energy vehicles at Apec’s business lobby
The plan would next be submitted to the relevant ministries in each of the 21 member economies of Apec before appearing on the agenda of the Apec Leaders’ summit in Lima in the week of November 10.
Read moreHow robots are taking over warehouse work
At Ocado's newest warehouse robotic arms are helping to pack customer orders.
Read moreHow Chinese firms are using Mexico as a backdoor to the US
Chinese firms are racing to set up factories in Mexico to bypass US tariffs and sanctions.
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