Inequality helps explain why young billionaires are so boring

Early in Warren Buffett’s life, his father failed to get hired at the family grocery store during the Great Depression. Without a job, and without any

Xiaomi gains USD6b in a rebound from weak Hong Kong debut

Xiaomi Corp. surged 13 percent a day after its disappointing debut, gaining roughly USD6 billion of market value as investors begin to pile into the

Pepsi gets another boost from salty snacks

PepsiCo Inc., grappling with a slumping soda business, got another boost from its food operations. The maker of Mountain Dew posted second-quarter profit that

Tesla plans China plant with 500,000 vehicle capacity

Tesla Inc. is planning a factory in China with a capacity for 500,000 vehicles a year, according to people familiar with the matter, making its

Uber poised to make investment in scooter-rental business

Uber is getting into the scooter-rental business. The ride-hailing company said yesterday that it is investing in Lime, a startup based in San Mateo,

Sa Sa records profit surge on tourism rebound

Cosmetics firm Sa Sa Holdings International has reported a profit growth of 34.7 percent for the year ending on March 31, driven by local consumption

Packer quits board of own company to recover from illness

Billionaire James Packer stepped down as a director of his private investment company, three months after quitting the board of his casino operator Crown Resorts

China stocks rebound with biggest gain since 2016, yuan climbs

Chinese large cap stocks climbed the most in two years, bouncing back from a bruising run of losses in the lead up to the imposition

Corporate Bits | Thirteen Sands China restaurants awarded for wine lists

Thirteen Sands Resorts Macao and Sands Macao restaurants have been honored for their exceptional selection of quality wine lists at the 2018 China’s Wine List of

HNA Chairman to step up role after death of top executive

HNA Group Co. Chairman Chen Feng will step up his role in managing the liquidity challenges at one of China’s most indebted companies after the sudden death

US web giants criticized for not playing fair

What was meant to be an opportunity to mingle in the sun in a southern French city turned partly into a public denunciation of tax

Real Estate Matters | Buying investment property without seeing it; the nuts and bolts of investment property

Why would you buy investment property without seeing it? The answer is simple. It’s a numbers game. Whether or not you see the property

Chinese stocks slide to more than two-year low

China’s bear market slump deepened, with the Shanghai gauge closing at its lowest since March 2016, and the yuan resumed its decline as traders

Thai billionaire’s retail unit eyes China, India expansion

Thai billionaire Dhanin Chearavanont’s retail subsidiary CP All Pcl is considering an expansion of wholesale operations in China and India to tap the might of consumers in

Singapore says Grab-Uber hurt consumers

Singapore threatened to force Grab to lower prices and revamp parts of its business, accusing the ride-hailing company of abusing its dominance after acquiring

Corporate Bits | MGM China awarded as ‘Most honored company’

MGM China has been recognized as “Most Honored Company” by financial publication Institutional Investor for the fourth consecutive year in the 2018 All-Asia Executive Team survey.

Innovation | Top Japan fashion site bets big on private brand, body scanning

Japan’s largest e-commerce company is betting that it has found the key to selling clothes online: a size-measuring bodysuit and its own line of clothing.

Huawei pushes back as pressure on Chinese companies grows

Huawei Technologies Co. said a proposed ban on selling its gear to some U.S. mobile providers isn’t lawful, pushing back against assertions it poses a risk as

Ryanair faces summer strikes

Ryanair Holdings Plc is facing pilot strikes in its Irish home market for the first time, in what may become its most significant confrontation with organized labor to

Roger Federer leaves Nike for Uniqlo in blockbuster deal

The eight-time Wimbledon champion surprised many fans when he walked onto Centre Court for his first- round match Monday afternoon in an outfit by Fast Retailing

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