U.S. consumer prices increased by the most in more than a year in March, but underlying inflation remained benign against the backdrop of slowing domestic and global economic growth. The Labor Department said on Wednesday its Consumer Price Index rose 0.4%, boosted by increases in the costs of food, gasoline […]
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Man wins over $110,000 and breaks single-day record on ‘Jeopardy!’
A 34-year-old professional sports gambler from Las Vegas won more than $110,000 on “Jeopardy!” on Tuesday, breaking the record for single-day cash winnings. The show said in a press release that James Holzhauer won the episode with a total of $110,914. The previous record of $77,000 was set by Roger […]
The skill that helped AirAsia’s CEO turn a $0.26 airline into a billion-dollar business
The CEO of leading low-cost airline AirAsia has proven himself a master of transformation. After building a successful career as a top exec at Warner Music, Tony Fernandes decided to pack it all in to try his hand at the airline industry in 2001. Within a year of purchasing the […]
Brexit summit: EU expected to grant UK extension with strings attached
European leaders will decide on Wednesday whether to grant the U.K. another extension to its departure from the bloc, due to take place on Friday April 12. The EU’s 28 leaders, including British Prime Minister Theresa May, are heading to Brussels for an emergency summit dedicated to Brexit. This after […]
ECB set to hold steady amid heightened economic risks
The European Central Bank is in an uncomfortable situation. It only announced its exit from the crisis-era multi-trillion bond buying program at the end of last year. However, only four months later there is more and more evidence that the economy is only having a temporary weakness as data across […]
IMF raises its 2019 growth forecast for China
The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S. IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, […]
Morgan Stanley to become top shareholder in China funds venture with stake increase
Morgan Stanley has won an auction to buy an additional 5.5 percent stake in its China mutual funds joint venture, in a deal that will make it the top shareholder of Morgan Stanley Huaxin Fund Management Co. The Wall Street bank, which currently owns 37.4 percent in Shenzhen-based Morgan Stanley […]
As more tech unicorns go public, this venture fund is looking to new frontiers
As the current crop of tech unicorns — or startups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation. “I think it is a really exciting time being in Silicon Valley and at the same […]
Venture fund 500 Startups says there are four new ‘tigers’ for mobile payments
As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation. “I think it is a really exciting time being in Silicon Valley and at the same […]
Magic Johnson abruptly quits as the Los Angeles Lakers’ president of basketball operations
Magic Johnson abruptly quit as the Los Angeles Lakers’ president of basketball operations Tuesday night, citing a desire to get back to the simpler life he enjoyed before taking over the franchise just over two years ago. Johnson didn’t tell owner Jeanie Buss or general manager Rob Pelinka before he […]