China tops US in numbers of billionaires
Image copyright AFP Image caption Dalian Wanda's Wang Jianlin has retained his top spot China's annual rich list has indicated that, once again, the country has more dollar billionaires than the US, and the gap is widening. Property magnate Wang Jianlin of Dalian Wanda tops the list of 594 billionaires in the country, ahead of 535 billionaires in the US. Alibaba's Jack Ma was second, with his wealth having risen 41% from last year. The annual list is ..>> view originalKilling the Death Tax Would Resurrect Growth
The death tax is an inevitable point of disagreement in a presidential campaign. Donald Trump would eliminate it to promote growth. Hillary Clinton would raise it—up to 65%, while lowering the exemption for estates to $3.5 million—to promote equality. The outcomes would be as different as their intentions. What’s less remarked upon is that estate taxes are always double taxation. Estates are built with savings that have already been...>> view originalWeak China data, stronger dollar send global stocks skidding
LONDON World stocks stumbled to three-week lows on Thursday and developed market bond yields dipped, after Chinese data showed a sharp decline in exports, reviving concerns about the health of the world's second-biggest economy.Riskier assets have had a difficult few weeks, undermined by concerns about a potential rise in U.S. interest rates, the outcome of U.S. elections, Britain's departure from the EU and the health of German and Italian banks.Asia's markets suffered falls overnight after ..>> view originalUnilever Defends Brexit Price Rises After Tesco Spat
LONDON—Unilever PLC on Thursday defended its stance in a pricing dispute with Tesco PLC as it reported a slowdown in third-quarter revenue growth amid fierce competition and currency devaluation. The consumer goods giant said it had to raise prices in the U.K. following a slump in the pound after the vote to leave the European Union. “The...>> view originalGloomy China September trade data raises fears recovery may be faltering
BEIJING China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.The disappointing trade figures pointed to weaker demand both at home and aboard, and deepened concerns over the latest depreciation in China's yuan currency CNY=CFXS, which hit a fresh six-year low against a firming U.S. dollar on Thursday."This comes..>> view originalSweden, Norway Sell Shares in SAS, Say Airline Better Off in Private Hands
STOCKHOLM—Sweden and Norway reduced their stakes in Scandinavian airline SAS AB, saying the state-controlled carrier would perform better in private hands. The Swedish government reduced its stake to 17.1% from 21.3%, while the Norwegian government lowered its stake to 11.5% from 14.2%. Denmark retains a 14.2% stake in the airline. “There are no good reasons why the state should own an airline,” Norwegian Economics Minister...>> view originalHanjin Shipping's Asia-US Route Assets to Be Put on Sale
SEOUL—The South Korean bankruptcy court handling Hanjin Shipping Co.’s insolvency proceedings said Thursday it plans to dispose of the firm’s sales and marketing network for its Asia-U.S. route, in an effort to raise funds and help rehabilitate the indebted company. The court will put up a sales notice as early as Friday, a judge at the Seoul...>> view originalGerman Court Rejects Complaint to Suspend Canada Trade Deal
BERLIN รข€” Germany's highest court has rejected calls from opponents of a European Union-Canada trade deal for an injunction that had the potential to spell an end to the pact.The Federal Constitutional Court ruled Thursday against the complaints against the trade deal with Canada, known as CETA. Tens of thousands of citizens joined in two of those complaints.The plaintiffs had wanted the government to be forced to vote against approving the accord at an EU meeting Oct. 18 pending full conside..>> view originalEricsson's Inefficiency Seen Leading to Further Job Reductions
The sales slump that triggered a plunge in Ericsson AB shares probably will lead to further job cuts at the Swedish maker of wireless-phone network equipment. Exclusive insights in your inbox, from our technology reporters around the world. Get Fully Charged, from Bloomberg Technology. Business Your daily briefing on the most important business stories of the day. You will now..>> view originalWells Fargo's new CEO faces immediate test
NEW YORK Tim Sloan will not have much time to prepare his pitch for Wall Street.The newly installed chief executive of Wells Fargo & Co (WFC.N) will present third-quarter results on Friday, less than 48 hours after replacing John Stumpf at the helm of the bank.Investors are seeking reassurance that Wells Fargo can rebuild its reputation and retain profits while overhauling the hard-charging sales culture at the heart of a scandal over unauthorized accounts.Sloan's nearly 30 years with Wells, l..>> view original
Tuesday, October 18, 2016
China tops US in numbers of billionaires and other top stories.
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