FINANCE

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Zuckerberg: How Facebook Morphed Into Meta
Facebook is now Meta, CEO and founder Mark Zuckerberg announced on Thursday divulging the tech-giant “will effectively transition from primarily being a social media company to being a metaverse company.” Meta will keep the brand...
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FDA Approves Pfizer Vaccine for Children 5 to 11-Years-Old
The FDA has granted Pfizer-BioNTech emergency approval for their vaccine for use in children from 5 to 11-years old, throwing open the door to inoculate 28 million children in the U.S. alone. "The FDA has...
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What Is Really Happening Behind the US-China Geopolitical Curtain?
For many businesses, financial gain trumps rising diplomatic tensions News analysis For the past two decades, China has been racing against the U.S. to gain momentum and control over the global economy. In an age...
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China’s Billionaire Class Exposed in Hurun’s 2021 Rich List; Bottled Water and New Energy Create Fortunes
The 2021 Hurun China Rich List was announced on Oct. 27 and according to the calculation of wealth, as of Jan. 15, 2021, the wealth of bottled water king, Zhong Shanshan, 67, grew by US$3.9 billion...
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Beijing Asks Evergrande Founder to Use His Money to Pay Back Company Debts
Chinese authorities have asked the founder of Evergrande, billionaire Hui Ka Yan (also known as Xu Jiayin), to tap into his personal wealth to pay back some of the debts of the company. Evergrande has...
China is planning to introduce taxes on properties.
China Doesn’t Have Property Taxes, But Soon It Will
Almost two decades ago, Chinese authorities began floating the idea of taxing property owners. And now, the government has begun moving in this direction. On Oct. 23, the country’s top legislature, the National People’s Congress...
California supply chain crisis PMA and ILWU labor dispute
California Supply Chain Crisis Could Be Rooted in Union Labor Dispute
A major supply chain crisis that has left the California coast line littered with dozens of cargo ships as supply shortages plague North America may be rooted in a labor dispute over issues such as...
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Treasury Secretary Insists Inflation Under Control Following Twitter CEO’s ‘Hyperinflation’ Tweet
On Oct. 23, Twitter CEO Jack Dorsey said in a tweet that hyperinflation is “happening” and that it will change “everything.” Dorsey’s tweet highlighted the inflationary pressure facing America and his tweet quickly became a...
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China Evergrande Group Secures Extension On Defaulted Bond
China’s debt-ridden property developer Evergrande Group has managed to secure an extension on a defaulted bond. Evergrande has been granted a three-month plus extension on a $260 million bond after the company offered extra collateral....