The surging global popularity of TikTok has seen the co-founder of its parent company, ByteDance, become China’s richest person. According to a rich list produced by the Hurun Research Institute, Zhang…
Category: Business News
USA: Banking giant sues customers over TikTok “infinite money glitch”
US banking giant JP Morgan Chase, is suing customers who allegedly took advantage of a glitch by illegally withdrawing thousands of dollars from its ATMs. The “infinite money glitch”, as…
USA: Microsoft CEO Satya Nadella gets 63% pay rise
Microsoft’s chief executive Satya Nadella earned $79.1m (£61m) last year, a rise of 63% compared to his compensation the year before. That was despite a request from Mr Nadella to…
USA: Treasury gets $100m settlement for Baltimore bridge collapse
The owners of a container ship that crashed into Baltimore’s Francis Scott Key Bridge have been ordered to pay the US government more than $100m (£77.1m) in damages, the US…
USA: Ex-Abercrombie CEO pleads not guilty to sex trafficking charges
Ex-Abercrombie & Fitch CEO Mike Jeffries has pleaded not guilty to charges of sex trafficking and interstate prostitution. Lawyers entered the plea on behalf of Mr Jeffries in New York…
UK: BHP and Vale sign $30bn settlement for 2015 Brazil dam collapse
The mining giants BHP and Vale have signed a deal with the Brazilian government to pay nearly $30bn (£23bn) in compensation for the Mariana dam collapse in 2015 that caused…
USA: IMF concerned about possible global trade war
The world economy could contract by the size of the combined French and German economies, if there is a broad-based trade war between the world’s major economies, the International Monetary…
USA: Boeing workers reject 35% pay rise offer and vow to continue striking
Striking Boeing workers have rejected a new offer from the plane-making giant, which included a 35% pay rise over four years. The International Association of Machinists and Aerospace Workers (IAM)…
India: Billionaires Elon Musk and Ambani battle over India’s satellite internet
The race between two of the world’s richest men, Elon Musk and Mukesh Ambani, is intensifying as they prepare to face off in India’s satellite broadband market. After India’s government announced last…
Germany: Police raid pizzeria serving side order of cocaine
Police have raided a pizzeria in western Germany which they alleged served customers a side of cocaine when they ordered item number 40 on the menu. Authorities were tipped off…