The China Evergrande Group has US$300-billion in liabilities and was put into liquidation by a Hong Kong judge yesterday. Once the largest property developer in China, the fate of Evergrande is expected to impact Australian exports.
A Hong Kong court on Monday ordered Evergrande to be wound up after more than two years since defaulting on its debts, marking another grim milestone for Hui Ka Yan, once Asia’s richest person.
Microsoft joined Apple in the highly exclusive $3 trillion club Wednesday.
As of January 1, the 10 richest people on the planet are worth nearly $1.47 trillion—$30 billion more than a month earlier. And Facebook founder Mark Zuckerberg has overtaken Bill Gates to become the world’s fifth richest person.
Finding out who owns Australia’s biggest companies isn’t easy. Data journalist Juliette O’Brien sleuthed dozens of sources to find the answer.
The company’s A and B Class shares were both up more than 10% on Friday.
Spotify shares were up more than 6.8% in pre-market trading Monday morning after news broke that it would lay off roughly 1,500 of its workforce in an effort for the audio streaming service to cut costs amid slowing growth.
Meta is suing the Federal Trade Commission, claiming the agency’s in-house courts are unconstitutional and violate due process protections, a bid that also aims to stop the FTC from making blanket changes to a 2020 privacy violation settlement that would further restrictions on Meta’s data monetization practices.
Pfizer shares tumbled again Monday, continuing the pharmaceutical giant’s struggles tied to declining demand for its Covid-19 products and essentially wiping out the entirety of the firm’s peak pandemic gains.
Chief executive Bjorn Gulden said the scenario is “financially the worst case.”