World Business

 

Uber taps Saudi Arabia for cash

More than 300 Uber drivers have been fined since April 27.

Mike Isaac and Michael J. de la Merced 11:05 AM   In its quest to build a global empire, Uber has turned to the Middle East for a $4.8 billion cash infusion.

Blood-test billionaire's fortune drops from $4.5b to zilch

Elizabeth Holmes, founder of blood test start-up Theranos, is now worth nothing, according to Forbes.

Patrick Hatch 10:58 AM   Elizabeth Holmes, whose plan to revolutionise healthcare made her a darling of the start-up world and a billionaire at age 30, has a jaw-dropping new net worth: zilch.

Banker arrested for insider tips to plumber

Turning on the tap: Steven McClatchey's plumber made a six-figure windfall thanks to the trading tips. In return, he ...

Bob Van Voris   Former Barclays director Steven McClatchey accused of telling his plumber friend about future company deals in exchange for cash and a new bathroom.

Comments 1

France rules out Google tax deal

France's Finance Minister Michel Sapin says there may be other cases.

France will "go all the way" to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald's were targeted by tax raids.

Fed to raise rates 'in coming months'

US Fed chair Janet Yellen is preparing the market for higher rates.

Binyamin Appelbaum   The US Federal Reserve chairwoman has reinforced a recent effort by central bank officials to prepare investors for higher borrowing costs.

Comments 4

Protect whistleblowers, then pay them

Bradley Birkenfeld, a former banker, received $104 million from the US Treasury for exposing a multi-billion dollar tax ...

Nassim Khadem   The Panama Papers, Swiss Leaks and Lux Leaks highlighted the fragmented and limited protection offered.

Comments 4

We've seen the Trump phenomenon before

Versions of Donald Trump and the kind of politics he represents have been popping up around the globe in a rise of ...

Eduardo Porter   Look around the advanced market democracies: Versions of Donald Trump and the kind of politics he represents have been popping up in a global rise of protectionism.

Comments 4

Is North Korea behind bank attacks?

FILE - In this Oct. 10, 2015, file photo, North Korean leader Kim Jong Un delivers remarks at a military parade in ...

Nicole Perlroth and Michael Corkery   It would be the first known case of a nation using digital attacks to boost its coffers.

Man U, Real Madrid soccer's most valuable

Manchester United is worth €2.9 billion ($4.5 billion), KPMG says, giving the club the same value as Real Madrid.

Tariq Panja   Manchester United's fifth place finish in the English Premier League may have gotten its manager fired, but the team's bottom line is just fine.

Sugar shortage halts Coke production

The iconic drink is the latest to join a group of basic products becoming scarce in a country beset by currency ...

Andrea Navarro and Jennifer Kaplan   Sugar is so scarce in Venezuela that Coca-Cola has been forced to stop production of the iconic drink in the country.

Investment banks in worst Q1 since GFC

Trading in fixed income, currencies and commodities for the world's biggest investment banks, including Goldman Sachs, ...

Anjuli Davies   Worried about the global economy? Goldman Sachs, Deutsche Bank and 10 other big banks have now posted the worst first-quarter results since the GFC.

Modi's shuttle blasts into Musk's space race

An artist rendering of India's Reusable Launch Vehicle (RLV) spacecraft.

Anurag Kotoky and Ganesh Nagarajan   India is launching a scale model of a reusable spacecraft on Monday to make space travel cheaper.

'We'd fight over who'd get to be Captain Kirk'

There is a connection between Mr Spock (played by the late Leonard Nimoy) and the first search for extraterrestrial ...

Brian Fung   Amazon boss Jeff Bezos isn't just a "Star Trek" nerd. He's a giant, epic, subspace anomaly of a "Star Trek" nerd with his own space travel company.

Codeword: 'Dallas Cowboys'

Phil Mickelson said he reached an agreement with the market regulator to return proceeds of nearly $US1 million ($1.4 ...

David Voreacos   What began with a friendship forged over gambling, golf and business turned into a six-year insider-trading plot involving one of the world's most beloved golfers, Phil Mickelson.

Facebook has no liberal-leaning bias: Zuckerberg

"I wanted to hear their concerns personally and have an open conversation about how we can build trust," said Facebook ...

Sarah Frier and Jennifer Jacobs   Facebook chief executive Mark Zuckerberg met with political conservatives to explain how the social network comes up with its trending news topics, seeking to quell concerns that liberal-leaning news and sources were favoured by the company's editors.

500,000 Jeeps recalled over airbag malfunction

In addition to the vehicles in the United States, the action covers about 35,000 in Canada, 8,500 in Mexico and almost ...

Christopher Jensen   Fiat Chrysler Automobiles is recalling about 500,000 Jeep Wranglers because the driver's-side air bag may not deploy in a crash.

Bayer makes move for Monsanto

Any deal between Bayer and Monsanto could raise US antitrust concerns because of the overlap in the seeds business.

Bayer's unsolicited takeover offer for Monsanto comes as high inventories and low commodity prices spur consolidation in the global agrichemicals industry

Board bows in apology over 12c price rise

A teenager in Kawasaki, Japan, eating a Garigari-kun, a popular ice cream bar. The price of the bar was recently raised ...

Jonathan Soble   A popular ice cream maker has raised prices for the first time in 25 years, and its executives beg for forgiveness. It's a big deal in deflationary Japan.

Airbnb sued for ignoring host racism

Gregory Selden

Erik Larson and Andrew Harris   Airbnb is being sued for allegedly ignoring complaints of a black man that his room reservation was rejected because of his race.

Remember Nokia phones? They're back

Remember Nokia phones? The Finnish company once dominated the mobile phone industry.

Adam Ewing   The Nokia brand is set to return to smartphones, two years after the Finnish company walked away defeated by Apple and Samsung.

Comments 29

World's most expensive jewel sells for $80m

The world's most precious gem: The Oppenheimer Blue.

Corinne Gretler   A blue diamond set a record price for a jewel in auction when it went under the hammer at Christie's in Geneva.

Comments 1

Why women need to brag more

WOMAN AFR 101005 MELB PIC BY JESSICA SHAPIRO...
GENERIC female, executive, director, boardroom, equality, salary, pay, ...

Nassim Khadem   Women have to learn how to talk themselves up in their careers, says Kay Koplovitz, the first woman to serve as network president in US TV history.

Comments 6

Suzuki admits to flaw in fuel efficiency tests

Mitsubishi's rigged fuel economy tests put the carmaker at the brink. Now its rival Suzuki's turn.

Yuki Hagiwara and Craig Trudell   The carmaker says it used an improper method to test the fuel efficiency of its vehicles, widening a scandal for Japan's auto industry that first originated with Mitsubishi.

How much did Trump make last year?

Presumptive Republican presidential nominee Donald Trump.

Lynnley Browning   Donald Trump claimed income of more than $US557 million over the last year, though the campaign provided few details on the sources of the money.

Comments 9

Treasure Island of US debt

TROPICAL ISLAND .  010827 PHOTO BY GREG NEWINGTON
 GENERIC: HOLIDAY, TRAVEL, TOURISM, VACATION, BEACH AND PALM TREES.
 ...

Andrea Wong and Alexandra Scaggs   X marks the spot: China and Japan are America's biggest creditors. Then there's this little Caribbean getaway of 60,000 residents.

Pear-shaped pink diamond sells for $42.8 million at Sotheby's

"The Unique Pink", the largest Fancy Vivid Pink pear shaped diamond ever offered at an auction.

Stephanie Nebehay   A rare pear-shaped vivid pink diamond fetched 30.8 million Swiss francs ($42.8 million) at auction on Tuesday, Sotheby's said, but several other large stones failed to reach the reserve prices set by the sellers.

A big change could be coming to Twitter

The messaging site's problems weighed on its shares, adding to concerns about stagnant growth.

Sarah Frier   Twitter will soon stop counting photos and links in its 140-character limit for tweets, according to a person familiar with the matter.

Chinese look to US real estate: report

Vancouver, Canada has long been a destination for Chinese property investors.

Peter Mitchell   An Australian backlash against Chinese property investors has driven some to look to the more open US real estate market, according to a new study.

Shell eyes 'Baby Shell' spin-out

Royal Dutch Shell's proposed $90 billion takeover of BG Group will result in asset sales and an asset spin-out, ...

Brian Robins   Oil Major Royal Dutch Shell is looking to a possible $US40 billion spin-off of non-core assets in a bid to reduce debt.

'Living hell': One terrible decision

Peter Chapman outside the court in London.

Nick Miller   Time in a notorious Brazilian prison, in the end, counted for something.