Finance


Reappearance of Fosun boss fails to reassure wary investors

Guo, the founder of Fosun Group, is China's 17th richest man with a net worth of $5.6 billion, according to data compiled by Bloomberg. The billionaire made no reference to the investigation during the company meeting at a Shanghai hotel on Monday,...

Fosun chair back in action, receives standing ovation in Shanghai

Reflecting government calls for economic restructuring, as well as investor's shifting taste, 20 companies - including cinema operator Wanda Cinema Line Co and green energy firm CECEP Wind-Power Corp were added to the flagship CSI300 index, replacing...

Fosun International Chinese conglomerate's shares tumble on news chairman

Guo appeared at the Fosun event at the Kerry Hotel Pudong in eastern Shanghai where he discussed the company's strategy and performance, but did not speak about his apparent disappearance, Reuters reported, citing a source. The Chinese tycoon was r...

Fosun Group Chairman Assisting Authorities in Graft Investigation Against Company

Wang Qunbin, president of Fosun International, said the ongoing investigation more concerning Guo's personal matters rather than Fosun's business practices. Fosun International plunged nearly 11 percent in Hong Kong, while Fosun Pharmaceutical droppe...

Hedge fund manager details plan to turn Yahoo around

The demands from SpringOwl Asset Management and Canyon Capital Advisors reflect shareholders' frustration with Mayer's inability to snap the company out of a financial funk after three-and-half years on the job. The size of Starboard's stake in Yaho...

Billionaire head of China's Fosun re-emerges after 'disappearance'

Fosun, one of China's biggest private conglomerates, halted trading of its Hong Kong shares following the reports. The group's shares were suspended on Friday and dropped more than 10% when trading resumed today. It has interests spanning media, in...

Most Investors Say Raising In Interest Rates Won't Hurt Personal Finances

Here's how players in various sectors view the coming rate rise. This week, the Federal Reserve is expected to raise short-term interest rates for the first time since 2006. According to latest projections available (September...latest will be re...

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Breaking News

Oil prices increase as Texas refineries start returning to normal

Gasoline for October RBV7, -1.14% fell 1.4% to $1.68 a gallon on Wednesday. The two pipelines transport around 675,000 barrels per day (bpd) of West Texas crude oil into East H...

Energy Secretary: US gas prices will rise in Storm Harvey's wake

Additionally, Indian Oil says demand is strong enough for refiners that do not export to stick to domestic markets and enjoy cheaper feedstock and higher fuel prices . "As the pip...

Hurricane fuels spike in Greater Lowell gas prices

The gasoline supply issues could reduce inventories on the East Coast, causing prices to rise further, Zachary Rogers, a refining and oil products analyst at Wood Mackenzie Ltd...

People need to consider flood insurance

For reinsurance companies, Fitch expects that the insured loss from the storm will fall within primary players retention levels under catastrophe programs, with perhaps a small p...

Tropical disturbance brushes NC coast, heading out to sea

Heavy rain is expected to be the main hazard. Monday: Rain and thunderstorms linger in Florida and spread into eastern North Carolina and eastern Virginia. There is a 10- to 20...

Disturbance To Pelt North Carolina Coast With Rain, Gusty Wind

A weather system off Africa that's being monitored by the National Hurricane Center is likely to develop as it approaches the eastern Atlantic Ocean, forecasters said Tuesday. Fo...

Tropical storm warning posted for part of North Carolina

The storm system that could become Irma was expected to track up the mid-Atlantic coast Tuesday before moving out to sea Wednesday . We'll see a nice mix of sun and clouds. It is ...

Disturbance To Pelt North Carolina Coast With Rain, Gusty Wind

A weather system off Africa that's being monitored by the National Hurricane Center is likely to develop as it approaches the eastern Atlantic Ocean, forecasters said Tuesday. Fo...

A Tropical Storm is Developing Northeast of Jacksonville

As always, there's the chance we could see a very unsafe storm come our way before the season is over - remember, Hugo, the Historic Floods of 2015 and Hurricane Matthew all occur...

Coastal Storm Bringing Rain & Wind to NC Coast

Harvey brought catastrophic flooding to Texas . As of this writing, rain is already spreading northward through the Garden State, with heavier rain expected later on. Sunday n...

Special Reports

Lee jailed for 5 years in bribery case

Lee jailed for 5 years in bribery case

Lee had been spearheading the country's biggest conglomerate with 350 trillion won ($310.1 billion) in assets as its father and chairman Lee Kun-hee has fallen into a coma in 2014 ...

Floyd Mayweather to Fight Conor McGregor in Lighter Gloves

Floyd Mayweather to Fight Conor McGregor in Lighter Gloves

One point articulated by Marnell, which every other commission member echoed, is that referee selection is the most important factor in fighter health and safety, particularly in a...

Reliance Disruption: Jio Launches A Zero Priced Feature Phone

Reliance Disruption: Jio Launches A Zero Priced Feature Phone

In addition to Reliance Jio , Bharti Airtel, Idea Cellular, Vodafone, Reliance Communications, and BSNL are looking for enhancing their mobile Internet reach. It comes with an A...

Venus Williams vs Jelena Ostapenko

Venus Williams vs Jelena Ostapenko

Williams became the oldest woman to reach the Wimbledon quarterfinal since 1994 with a rock-solid performance on Centre Court. Williams will next face either second-seeded Sim...

June job growth was a healthy 222000 . . . but we can do better

June job growth was a healthy 222000 . . . but we can do better

The US economy added 222,000 jobs in June, according to the Bureau of Labor Statistics . Even with 2,000 jobs added this past month, the legal industry has seen a lot of cuts to...

Why Amazon Bought Whole Foods

Why Amazon Bought Whole Foods

The question for many other grocery stores might wonder if they're perishable. In working toward becoming an industry leader in staple industries such as food & beverage, Amazon...

Trump calls House health bill he backed 'mean'

Trump calls House health bill he backed 'mean'

That House bill was widely criticized for letting states seek waivers from insurance protections for people with pre-existing conditions. In other words, Senate Republican leadersh...

Whole Foods customers react to $13.7 billion Amazon merger

Whole Foods customers react to $13.7 billion Amazon merger

Charlie O'Shea, a Moody's lead retail analyst, told the Associated Press news agency that the deal could be "transformative, not just for food retail, but for retail in general"....

Oil hits the lowest since November as over-supply glut continues

Oil hits the lowest since November as over-supply glut continues

USA inventories fell less than forecast last week, keeping supplies more than 100 million barrels above the five-year average, according to data from the Energy Information Admi...