Stocks

Uninspiring earnings and a “black cloud” from Elon Musk drama have sent Tesla shares down 27% in 2024.

The billionaire justified the decision on the results of an unscientific poll run on his X account a day earlier.

GLP-1 injectable drugs like Ozempic and Wegovy made up a significant portion of the company’s annual sales.

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.

Billionaires around the world are now US$3.3 trillion (AU$5 trillion) richer than they were in 2020, with their wealth growing three times as fast as the rate of inflation, Oxfam’s Inequality Inc report has revealed.

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.

The accountants certified that Tingo Group had $462 million in the bank. The SEC says it was just $50. Short sellers are rejoicing.

At age 21, Zhang Hongchao started peddling shaved ice treats. A quarter of a century later, he and his younger brother Hongfu have made a fortune selling soft-serve ice cream, coffee drinks and its super popular bubble tea and lemonade.