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☆ Michael Bloomberg is worth an estimated $106 billion — but you won't find him on the Bloomberg rich list
▼ + stars: | 2024-04-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe release of Forbes' annual rundown of the world's billionaires has underlined a glaring omission from the Bloomberg Billionaires Index: Michael Bloomberg himself. Forbes ranked the 82-year-old Bloomberg LP founder in 12th place with an estimated $106 billion fortune as of March 8. Based on Forbes' wealth estimate, Bloomberg would be in joint 12th position with Michael Dell (also $106 billion) as of Thursday. Related storiesThe Bloomberg Index's methodology explains why the boss is missing: "Bloomberg News editorial policy is to not cover Bloomberg LP. As a result, Michael Bloomberg, the founder and majority owner of Bloomberg LP, isn't considered for this ranking."

Persons: —, Michael Bloomberg, Sergey Brin, Amancio Ortega, Carlos Slim Helu, Michael Dell, isn't, Forbes, Jensen Huang, Salomon Brothers, He's Organizations: Service, Forbes, Bloomberg, Business, Nvidia, Waltons, CVS Health, GM, New York City's Locations: Inditex, New York

☆ The world's 2 biggest economies are moving in starkly different directions
▼ + stars: | 2024-01-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. AdvertisementMeanwhile, on Monday, a Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted real estate developer. "I expect that the Chinese market will bounce around, but that the bias is towards more pain since the problems are systemic in my opinion," Laffer Jr. said. "The US on the other hand should do well for the 2024 period — strong economy, strong employment, strong earnings, strong dollar."

Persons: —, That's, Arthur Laffer Jr, Laffer, Xi Jinping, Joseph Seydl, you've, Seydl, didn't, Alfredo Montufar, Helu, China Evergrande Organizations: Service, Real, Business, International Monetary Fund, Investments, JPMorgan Private Bank, Conference Board's China Center, CSI, Bloomberg Locations: China, US, Beijing, backtrack, deleverage, Hong Kong

☆ China's economy is on shaky ground - but its movie industry is hitting historic box office records
▼ + stars: | 2023-10-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

China's economy hasn't seen the post-pandemic rebound as many expected, but its film industry is running strong. From June to September, Chinese consumers spent $3.2 billion at the box office, a record high for that stretch. Meanwhile, China's economy faces weak growth, a shaky property sector, and declining trade. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementChina's economy has yet to enjoy the post-pandemic rebound many had anticipated, but its movie industry has thrived nonetheless.

Persons: hasn't, —, Barbie, Oppenheimer, Lehman, Alfredo Montufar Organizations: Service, CNN, China Center, Conference Board Locations: Dengta, China, Beijing

INGLEWOOD, Calif. (AP) — Los Angeles Rams wide receiver Puka Nacua set the NFL single-game record for most receptions by a rookie with 15 catches for 147 yards in Sunday's 30-23 loss to the San Francisco 49ers. Nacua broke the record with a 17-yard reception late in the fourth quarter. Nacua, a fifth-round pick out of BYU, also became the first rookie to have double-digit receptions in his first two games. He had 10 receptions for 119 yards in last week's 30-13 win at Seattle. Nacua's 25 receptions are also a new overall league mark for a rookie in his first two games.

Persons: Nacua, Washington’s Roy Helu, Saquon Barkley, Pittsburgh’s Najee Harris, San Francisco's Earl Cooper Organizations: Los Angeles Rams, San Francisco 49ers, New York Giants, BYU, Seattle Locations: INGLEWOOD, Calif

☆ There could be even tougher times ahead for China's economy, as forecasters slash their growth predictions
▼ + stars: | 2023-08-29 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Forecasters polled by Bloomberg have slashed their growth outlook for China. The country is battling deflation, soaring youth unemployment, and a property-market crisis. Policymakers cut stamp duty taxes Monday – but are yet to roll out a "big bang" economic fix. China's economy expanded 6.3% over the second quarter of 2023, falling well short of forecasters' expectations, while the country is also battling deflation, record youth unemployment, and a severe real-estate crisis. "As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing."

Persons: They're, Joe Biden, Alfredo Montufar, – Organizations: Bloomberg, Service, China Center, Conference Board Locations: China, Wall, Silicon, Beijing

☆ China's economic model isn't working, but that doesn't mean the country's headed for a 'Lehman moment'
▼ + stars: | 2023-08-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And, similar to the crisis that ultimately toppled Lehman Brothers in 2008, much of China's troubles are rooted in its property sector. China's property crisisFront and center for any comparison between today's China and the US in 2008 is the real estate market. "The boom that characterized the property sector of the last decade is over," he said. AdvertisementAdvertisementStill, given the scale of China's property market, policymakers may need to step in with fiscal stimulus to avoid catastrophe. "Rather, it'll be a slow-moving, structural economic crisis that could last for years.

Persons: hasn't, Lehman, Xi Jinping, Alfredo Montufar, William Hurst, Hurst, it's, Helu, Evergrande, Nicholas Spiro, Spiro Organizations: Service, Lehman Brothers, People's Bank of, China Center, Conference Board, Citi, Zhongrong, University of Cambridge, Country Garden Holdings, Lauressa Locations: China, Wall, Silicon, People's Bank of China, Japan, Beijing

☆ China's economy faces a lopsided supply and demand problem that's been years in the making
▼ + stars: | 2023-08-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

That model is starting to show its weaknesses, however, as it's created a lopsided economy with too much supply and soft demand. "Stimulus functions on the supply side, and on the demand side you need structural reforms. Everything appears to be boiling over all at once, but China's problems have been years in the making. Confidence crisisThese issues have manifested most clearly in the real estate market, which now faces a glut of inventory thanks to years of overbuilding. "There could be a real rapid decline in real estate prices that would hurt a lot of people's livelihoods."

Persons: it's, William Hurst, hasn't, Hurst, that's, Alfredo Montufar Organizations: Service, University of Cambridge, New York Times, Conference Board, Garden Holdings, Conference Board's China Center Locations: China, Wall, Silicon, Beijing, Cambridge

☆ China's economy is flailing. Here's how its problems could spill into global markets.
▼ + stars: | 2023-08-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

China's economy is facing headwinds ranging from an unstable property market to weak consumer demand. Experts told Insider that a worsening scenario in China bodes poorly for global markets and other economies like the US. "As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing." One way this is already being felt is in the softening of Chinese demand, which has led to a sharp drop in trade. And as the housing crisis deepens, it will become harder to China to right the ship, creating a lasting drag on future global growth.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Evergrande, Alfredo Montufar, Helu, Keith Hartley, Hartley, Noah Sheidlower, Dexter Roberts, David Roche, they're, Roche Organizations: Service, Privacy, China, Country Garden Holdings, China Center, Conference Board, Federal Reserve, Atlantic Council, Housing, Independent, CNBC Locations: China, Wall, Silicon, U.S

☆ Country Garden stock reaches record low, Chinese property giant flags loss of up to $7.6 billion as it nears default
▼ + stars: | 2023-08-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Country Garden warned investors in a Hong Kong stock exchange filing Thursday that it would likely record a loss of 45 billion to 55 billion Chinese yuan (about $6.2 billion to $7.6 billion) for the six months through June. The disclosure lays bare the financial woes currently facing Country Garden, a massive builder of hundreds of thousands of homes annually across China. Country Garden did not immediately respond to a request for comment. As of early afternoon in Hong Kong Friday, its stock had reached a record low of 95 Hong Kong cents, below its previous low of 98 Hong Kong cents reached in October 2008. Cash crunchEarlier this week, Country Garden stoked concerns by missing two bond payments, according to analysts.

Persons: ” Morningstar, Jeff Zhang, Kaven Tsang, ”, Zhang, Morningstar, Yang Huiyan, Yang, won’t, Moody’s, Fang xing, ICHPL, Alfredo Montufar, “ Organizations: Hong Kong CNN, Garden, CNN, Hong, China’s, “, Hong Kong, Bloomberg Locations: Hong Kong, China, Foshan, Guangdong province, Real

☆ MLB roundup: Padres prevail in offensive showcase in Mexico City
▼ + stars: | 2023-04-30 | by ( ) www.reuters.com time to read: +14 min

Trent Grisham hit a two-run double to increase the Padres' lead to 14-11 in the eighth. Machado had three hits with three RBIs and four runs, while Thairo Estrada had four hits and three RBIs for the Giants. Andujar went 2-for-3 with three RBIs, while Connor Joe went 1-for-4 with a solo homer and two runs for Pittsburgh. Patrick Corbin (1-4) gave up three runs on seven hits with two strikeouts and a walk in 5 1/3 innings. Nationals starter Chad Kuhl (0-2) allowed eight runs on seven hits with four strikeouts and four walks in just 3 2/3 innings.

☆ China to form a national bureau to manage its troves of data
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, March 7 (Reuters) - China will form a national data bureau that will be responsible for coordinating the sharing and development of the country's data resources, according to a plan submitted on Tuesday to parliament. The proposed bureau will be administrated by the state planning agency, the National Development and Reform Commission (NDRC), the plan said. This has included issuing a series of new laws that require organisations with large user bases undergo assessments and obtain approvals when handling data. Some firms are struggling with a deadline requiring them to seek approval to export user data. "Multinationals will no doubt want to understand how a centralised data regulator will interface with overseas stakeholders."

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