Pharmaron Beijing’s shares trade in Hong Kong and Shenzhen. Photographer: Roy Liu/Bloomberg © 2020 Bloomberg Finance LP Pharmaron Beijing, a China-based pharmaceutical research services company led by billionaire Lou Boliang, expects profit earned in the year to Dec. 31 to have climbed by as much as 45% to 1.7 billion yuan, or about $265 million,… More
Peloton’s stock may have rebounded Friday, but it still has a long way to go to recover. Ezra Shaw/Getty Images Peloton shares are on a painful ride that keeps getting worse. The stock plunged 24% on Thursday—wiping out billions in market value—amid reports that the beleaguered at-home fitness equipment company would temporarily halt production of… More
Topline Robinhood cofounders Vlad Tenev and Baiju Bhatt are no longer billionaires according to Forbes’ calculations, as shares of their popular stock trading app continue to move lower in recent months and have now lost half their value since the company went public last year. Robinhood shares have lost more than half their value since… More
Changpeng Zhao, CEO of Binance. Wei Leng Tay/Bloomberg Binance, the world’s largest cryptocurrency exchange, has teamed up with Sarath Ratanavadi’s Gulf Energy Development to look into setting up a digital asset trading platform in the Southeast Asian country. Gulf Energy said the agreement with Binance is a response to the “rapid growth” of Thailand’s digital… More
Vingroup vice chair and VinFast CEO Le Thi Thu Thuy. COURTESY OF Vingroup On Thursday, VinFast, a rather obscure automaker from Vietnam, revealed three new electric vehicle models at this year’s CES in Las Vegas, the world’s largest tech trade show. The move comes less than two months after the company unveiled two electric SUVs… More
The flagship Selfridges store in London Courtesy of Central Group Central Group—controlled by the Chirathivat family, among Thailand’s richest—and Austrian partner Signa Holding have agreed to buy British retailer Selfridges & Co. from the Weston family of Canada. The equal partners are acquiring a portfolio comprising 18 department stores, including the flagship Selfridges store on… More
Visitors check out the booth belonging to SenseTime at the 2021 World Artificial Intelligence … [+] Conference in Shanghai on July 7, 2021. STR/CNS/AFP via Getty Images Chinese artificial intelligence giant SenseTime is pushing ahead with its initial public offering in Hong Kong despite being placed on a U.S. investment blacklist just one week ago,… More
A plane and a shuttle bus belonging to Philippine Airlines PAL are seen at the Manila Ninoy Aquino … [+] International Airport NAIA terminal 1 in Paranaque City, the Philippines, on February 3, 2021. Rouelle Umali/Xinhua via Getty Philippine Airlines—controlled by billionaire Lucio Tan—has won court approval to restructure, paving the way to revive the… More
Power tool supplier Chervon is aiming to list at the Hong Kong Stock Exchange. (PHILIPPE LOPEZ/AFP … [+] via Getty Images) AFP via Getty Images The launch of an IPO in Hong Kong by a China manufacturer of power tools this week may mint the country’s newest billionaire. Chervon Holdings is offering 71.9 million shares… More
A driverless AR bus and AI intelligent car developed by SenseTime are unveiled at the World … [+] Conference on Artificial Intelligence in Shanghai, China, July 7, 2021. Costfoto/Barcroft Media via Getty Images) Chinese artificial intelligence company SenseTime has decided to postpone its initial public offering in Hong Kong after it was put on a… More
Zhao Changpeng speaks during the Bloomberg New Economy Forum in Singapore, on November 19, 2021. Bryan van der Beek/Bloomberg Binance Singapore has withdrawn its application for a license to operate a cryptocurrency exchange, and will shut down its trading platform in the city-state by February 13. Binance Singapore’s users will be informed through email as… More
Visitors visit SenseTime’s booth at the 2019 Zhejiang International Intelligent Transportation … [+] Conference in Hangzhou, east China’s Zhejiang Province, December 6, 2019. Long Wei /Costfoto/Barcroft Media via Getty Images Tang Xiao’ou, the billionaire professor who cofounded artificial intelligence giant SenseTime seven years ago, is poised to boost his wealth by almost 50% as the… More
Two men talk in front of the entrance of the Shanghai Stock Exchange. AFP PHOTO / JOHANNES EISELE … [+] (Photo credit should read JOHANNES EISELE/AFP via Getty Images) AFP via Getty Images China added its latest billionaire from the semiconductor industry on Wednesday following the listing of Shanghai Prisemi Electronics at the Shanghai Stock… More
Topline Trevor Milton, the embattled former chairman of Nikola Motor, has offloaded a massive stake of the electric truck maker he founded nearly seven years ago in recent months, selling $131 million in stock over the past week and nearly $300 million worth since he pleaded not guilty to three counts of criminal fraud charges… More
Topline Hedge fund billionaire Ken Griffin bought a rare copy of the U.S. Constitution for $43 million—outbidding a group of cryptocurrency investors in a record-setting auction Thursday, Sotheby’s announced in a press release. Ken Griffin, founder and CEO of Citadel. Patrick T. Fallon/Bloomberg Key Facts The “extremely rare” first-edition copy of the Constitution sold for… More
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