Donald Trump’s net worth dropped by about $700m to $2.3bn (£1.65bn) during his time as president, according to the Bloomberg Billionaires Index. The Covid-19 pandemic hit his fortunes hard, with…
Category: Business News
China: Tycoon abruptly quits tech giant he founded
Colin Huang is China’s seventh richest person and is worth more than $50bn from his stake in the online firm. The founder of high-flying Chinese e-commerce group Pinduoduo has stepped…
USA: Burnt-out Goldman Sachs bankers ask for 80-hour week cap
First-year bankers at investment bank Goldman Sachs have warned that they might quit unless their gruelling working conditions improve. An internal survey among 13 employees showed they averaged 95 hours…
Italy: Lamborghini’s profits soar during Covid
Lamborghini had its most profitable year ever in 2020, despite a two-month shutdown of its Italian factory during the pandemic. “We were surprised,” said chief executive Stephan Winkelmann. While sales…
Taiwan: Dozens change name to ‘salmon’ to get sushi deal
Dozens of people in Taiwan have changed their names to “salmon” to take advantage of a restaurant’s sushi promotion deal. Officials have issued a plea asking people to stop visiting…
UK: 5G auction to boost mobile speed and coverage
The auction of the airwaves that will create faster mobile services for rural areas and hasten the rollout of 5G has ended, with all four operators pleased with their haul.…
Silver: The Silver lining on Silver
The price of silver hit an a eight-year high on Monday, amid social media calls to buy the metal and emulate the trading frenzy that surrounded US games retailer GameStop…
Climate Change: Oil Industry’s woes
The oil industry has been left reeling. Share prices plunged, and Goldman Sachs warned of a drop in US crude supplies. “The industry is aghast at these changes,” one oil…
The Season of the Electric Cars: Ford to start building electric Mustangs in China
Ford is to start building its iconic Mustang cars in China for the first time. The US carmaker said its Mustang Mach-E will start being produced there later this year…
Satellite Industry: The War Zone for Billionaires
Considering the capital required to enter into any business set up in space, space has traditionally had a high barrier to entry. As of January 2020, just seven firms make…