The 2S22 in action on the coast. Ukrainian defense ministry photo The Ukrainian army’s rarest artillery played a pivotal role in finally driving Russian troops off strategic Snake Island in the western Black Sea. Official video from the defense ministry in Kyiv depicts the 2S22 truck-mounted howitzer—only one of which is known to exist—firing on… More
Bitcoin investor Tim Draper believes the cryptocurrency is primed for an epic turnaround. His billionaire status depends on it.Roger Kisby/redux Venture capitalist Tim Draper thinks cryptocurrency is going to go up more than 10-fold by the end of 2023. He isn’t the only crypto mogul whistling in the dark. During an interview with Forbes in… More
From left, Bazaar Los Angeles co-founders Imani Watts and Alexandria Hadley.Bazaar Los Angeles Black businesses were slammed by the pandemic-induced recession of 2020. Although they bounced back fairly strongly in 2021–according to research by Robert Fairlie, a professor at University of California, Santa Cruz–many Black businesses still have some of the vulnerabilities that existed before,… More
Biden speaking Tuesday in the Roosevelt room at the White House. Getty Images Is too much inflation crushing your summer vacation plans? President Joe Biden has a holiday for you — at the gas pump. Biden is set to request from Congress a three-month, emergency relaxation of the federal tax on gasoline. By removing that… More
NEW YORK, NEW YORK – JUNE 01: A man fills up his motorcycle at a Manhattan gas station on June 01, … [+] 2022 in New York City. New York has suspended its gasoline tax beginning today for the rest of the year in an effort to ease soaring prices. New York has some of… More
Long-term savers can be thankful that interest rates are higher. They’re finally getting a real return. I Easy-money fans at the Federal Reserve building, June 14.Tom Brenner/Bloomberg Finance LP If you have a chunk of retirement money in bonds, you’re probably feeling miserable. This year’s spike in interest rates has wrecked what was supposed to… More
T-62s in southern Ukraine. Social media capture After losing more than 700 of its best T-72, T-80 and T-90 tanks in Ukraine in the first three months of fighting, the Russian army got pretty desperate for functional armored vehicles. So desperate that, in May, the army pulled from long-term storage what might be at least… More
Covestro, which had sales of over $17 billion in 2021, aims to be carbon-neutral by 2035. Covestro On Monday, Germany-based polymer manufacturer Covestro announced a 5-year collaboration agreement with San Francisco-based quantum computing software developer QC Ware. Together, the companies will work to the develop quantum computing algorithms that can improve Covestro’s manufacturing processes and… More
A pair of twentysomethings from Uganda and Ghana thought there was a fortune to be made bringing transnational financial services to Africa’s 1.2 billion people. With 5 million users, San Francisco-based Chipper Cash is just getting started. It was the summer of 2018, and Ham Serunjogi, a 24-year-old Ugandan immigrant, thought the pitch he was… More
Continental Airlines Chairman Frank Lorenzo announced a $75 million hub expansion at Cleveland … [+] Hopkins International Airport in 1986. Bettmann Archive One of the airline industry’s best-known entrepreneurs says he doubts that antitrust regulators will approve the proposed JetBlue-Spirit merger. “In evaluating the proposed merger, the Justice Department may well consider what it does… More
EAST COAST, SOUTH KOREA – JULY 05: In this handout photo released by the South Korean Defense … [+] Ministry, U.S. M270 Multiple Launch Rocket System firing an MGM-140 Army Tactical Missile during a U.S. and South Korea joint missile drill aimed to counter North Korea’s intercontinental ballistic missile test on July 5, 2017 in… More
Longer lifespans means that many of today’s graduates have 50-plus years of work ahead of them. getty The beat of Pomp and Circumstance is playing across the country this month. From high schools to colleges young people are graduating in commencement ceremonies. Commencement is all about celebrating the end of one chapter and the beginning… More
Fayez Sarofim with wife Susan, 2018. Getty Images for UNICEF Fayez Sarofim, the billionaire money manager, died Saturday at his home in Houston, at age 93. “I’ve always claimed it took someone from abroad to recognize the true potential in this country,” said Fayez Shalaby Sarofim in his first interview with Forbes Magazine in 1969.… More
Forbes 30 Under 30 Asia logo It was his daily three-hour commute between Gurgaon and Noida that convinced Rohan Nayak that many Indians like him craved high-quality audio content. Less than four years after the launch of the Pocket FM app, the audio streamer claims to have more than 15 million monthly active users. Nayak,… More
Forbes 30 under 30 Asia 2022 Forbes 30 under 30 Asia 2022 XanPool, a cross-border payments infrastructure provider, aims to expand outside of the Asia-Pacific region amid growing global demand for both crypto and fiat currency settlements. The Hong Kong-based company—which has raised $32 million since inception in March 2019—plans to enter markets such as… More
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