NEW DELHI — Asia’s controversial richest man, Indian tycoon Gautam Adani, is again in the spotlight. His companies’ stocks plunged up to 20% on Thursday after he was indicted by U.S. prosecutors on charges he duped investors in a massive solar energy project in India by concealing that it was being facilitated by an alleged … Read more
Government borrowing was much higher than expected in October, official figures show. Borrowing – the difference between spending and tax take – was £17.4bn last month, the second highest October figure since monthly records began in 1993. The borrowing figures are the first to be released since Chancellor Rachel Reeves’ first Budget last month. The … Read more
President-elect Trump on Wednesday announced the sale of a limited number of “45” guitars on his social media site. “Coming Soon! The Limited Edition ‘45’ Guitar. Only 1,300 of each Acoustic and Electric Guitars MADE — Some personally signed!” Trump wrote on Truth Social. The “American Eagle” series of guitars features the “Make America Great Again” … Read more
SEOUL, South Korea — North Korea and Russia reached a new agreement for expanding economic cooperation following high-level talks in Pyongyang this week, the North’s state media said Thursday, as they continue to align in the face of their confrontations with Washington. North Korea’s official Korean Central News Agency didn’t elaborate on the details of … Read more
TOKYO — Asian shares were mostly lower on Thursday after a mixed close on Wall Street, with regional markets shrugging off a strong profit report from Nvidia that was released after U.S. markets closed. Nvidia again topped analysts’ expectations, but technology shares in Tokyo declined due to the company’s lower-than-hoped for profit forecasts. In after-hours … Read more
Nearly 40,000 University of California workers began a two-day strike Wednesday to protest what they claim is bad faith bargaining by university negotiators as the two sides try to hammer out new labor agreements. The work stoppage, which affects service and patient care workers at all UC campuses and medical facilities, will continue until 11:59 … Read more
The Los Angeles City Council on Wednesday postponed a vote on a major boost to wages for hotel and airport workers, voicing concerns that the pay hike could damage the city’s tourism industry. The council’s decision to put off the vote until Dec. 11 came as hotel owners were threatening to pull out of a … Read more
LAS VEGAS — Federal water officials made public on Wednesday what they called “necessary steps” for seven states and multiple tribes that use Colorado River water and hydropower to meet an August 2026 deadline for deciding how to manage the waterway in the future. “Today we show our collective work,” Bureau of Reclamation Commissioner Camille … Read more
Former Wall Street investor, Sung Kook “Bill” Hwang, has been sentenced to 18 years in prison in a massive fraud case that cost banks billions of dollars. The sentence comes after Hwang was found guilty of fraud and market manipulation in a case linked to the failure of his investment fund Archegos Capital Management in … Read more
The National Hockey League is commanding more respect when it comes to team values. The average NHL team is worth $1.92 billion, according to CNBC’s Official 2024 NHL Valuations, and recent transactions come at revenue multiples that rival deals done in Major League Baseball. What accounts for the league’s ascension? Steady revenue growth combined with … Read more