China’s billionaire population is on the rise. Today, the country is home to 10 percent of the world’s almost 2,400 billionaires, according to the latest report from Wealth-X. But, perhaps more notably, a massive 94 percent of them are self-made. Growth in China’s technology, consumer retail and real estate sectors over the past five to
0 Comments
The Securities and Exchange Commission charged former cryptocurrency exchange BitFunder and its founder with fraud Wednesday. The regulator alleged that BitFunder and founder Jon E. Montroll ran the operation as an “unregistered securities exchange” and defrauded users of that exchange, according to a SEC statement. “Platforms that engage in the activity of a national securities
0 Comments
Former General Electric boss Jeff Immelt was consistently overoptimistic in running the large conglomerate during his 16-year tenure, The Wall Street Journal reported Wednesday. More than a dozen insiders — including both investors and current and former GE executives — told the paper Immelt would project results for the company’s future mismatched with its reality.
0 Comments
Bitcoin had its coming-out party in 2017. With all the excitement and opportunities around cryptcurrency, it might be easy to forget about crypto taxation. Almost every bitcoin or other “altcoin” transaction — mining, spending, trading, exchanging, air drops, etc. — will likely be a taxable event for U.S. tax purposes. Without a doubt, 2018 will
0 Comments
When people start investing money, one of the exercises they engage in is determining their own risk tolerance. Usually, this process is handled by filling out some sort of questionnaire, such as the one below, that has multiple-choice questions: If you had $10,000 to invest, would you: • Be willing to chance earning 30 percent
0 Comments
Priceline Group renamed itself to Booking Holdings Inc. on Wednesday to better reflect its growing portfolio of brands and highlight booking.com, the underlying driver of its business, according to CEO Glenn Fogel. Fogel told CNBC that booking.com has more than 1.5 million properties and generates more than 1 million bookings per day. “It helps change
0 Comments
Venezuela’s oil-backed “petro” cryptocurrency raised $735 million in the first day of its pre-sale Wednesday, President Nicolas Maduro has claimed. The Venezuelan president said on Twitter that the petro token raised more than 4.777 billion Chinese yuan, or $735 million, and that the state-backed virtual currency “reaffirms our economic sovereignty.” Tweet Tweet Caracas said that
0 Comments
After seven years of restructuring that involved cutting thousands of jobs and bank branches, HSBC has turned itself around with profits rising more than 140 percent over the last year. But the job of strengthening the bank is not over, Chairman Mark Tucker said Wednesday, as the ever-changing global environment calls for a more agile
0 Comments
The original 12-member deal was thrown into limbo early last year when U.S. President Donald Trump withdrew from the agreement to prioritize protecting U.S. jobs. The 11 remaining nations, led by Japan, finalized a revised trade pact in January, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It is expected to be signed
0 Comments
President Donald Trump announced Tuesday that he has recommended that “bump stocks” — devices that let semi-automatic weapons fire hundreds of rounds per minute — be banned. Trump signed a memorandum recommending that Attorney General Jeff Sessions propose regulations that would declare that bump stocks are illegal because they effectively turn legal semi-automatic weapons into
0 Comments