Business Trends

Former Singapore Oil Mogul to Pay Liquidators, HSBC $3.6 Billion

Singapore’s High Court approved former oil tycoon Lim Oon Kuin’s agreements to pay $3.59 billion to the liquidators of his company and creditor HSBC Holdings Plc, ending the multiyear civil cases against him and his family.

French tycoon gains $17 billion from China’s economic stimulus push

The billionaire owner of French luxury powerhouse LVMH has seen his wealth inflate by $17 billion dollars in just one day, after China announced fresh moves to restore economic growth that some call the long-awaited “bazookas” needed to revive confidence.

L'Oreal Heiress Francoise Meyers Becomes World’s Richest Woman After Surpassing Walmart Scion Alice Walton

Walmart scion Alice Walton’s short-lived term as the world’s richest woman came to an end Thursday after Francoise Bettencourt Meyers, the granddaughter of the founder of L’Oreal, secured the title amid a spike in European luxury stocks that reacted positively to an economic stimulus package committed to by China this week.

Caroline Ellison Gets 2-Year Jail Sentence After Testifying Against Ex-Boyfriend FTX’s Bankman-Fried: What To Know

Former crypto bigwig Caroline Ellison received a jail sentence Tuesday for the financial crimes committed alongside her ex-boyfriend Sam Bankman-Fried, landing time behind bars despite some legal experts suggesting Ellison may skirt jail time for her extensive cooperation against Bankman-Fried, the former billionaire head of the $32 billion cryptocurrency exchange FTX.

Goodbye Louis Vuitton. China’s Gen Z leans into ‘dupe economy’ as growth prospects stall

China’s economic slowdown isn’t an abstract concept for Zheng Jiewen, 23, who works full time at an ad agency in the southern megacity of Guangzhou.

Pound Is Starting to Look Vulnerable After Hitting Two-Year High

The pound’s peer-beating rally got a fresh spur this week, but strategists from J.P. Morgan Private Bank, State Street Global Markets and Jefferies say those gains are looking increasingly fragile.

Warner Bros. Discovery Shares Jump 10% After Adding Max To Charter Cable Bundle

Warner Bros. Discovery’s stock experienced one of its strongest days of trading in recent months on Thursday, after the media conglomerate announced a deal with Charter Communications that will bring the Max streaming service to standard cable packages.

Fed cuts interest rates by half a point, marking first trim since 2020

The more aggressive decision, announced at the end of the Fed’s two-day policy meeting, marks a major pivot in Fed policy after officials sprinted to catch up to soaring inflation.

We still don’t know how the Lebanon pager attack happened. Here’s what we do know about our own electronic devices

So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and around 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.