Business

A $4.7 trillion deal? Painter tells SEC he's richer than Bill Gates

"I always wanted to be wealthy, so I could have more free time with my family," says artist Antonio Lee.

A few hours after the New York market closed on February 1, an obscure Chicago artist by the name of Antonio Lee told the world he had become the world's richest man. He managed to issue his fabricated report in the most authoritative of places: The US Securities and Exchange Commission's database.

Trump Trade or Trump Tantrum? Today will tell

Investors are dialling back hopes that US President Donald Trump will swiftly enact his agenda.

Investors are dialling back hopes that US President Donald Trump will swiftly enact his agenda. "If the vote doesn't pass, or is postponed, it will cast a lot of doubt on the Trump trades," says an influential bond trader.

This may be the day the Trump trade died

Comey also dismissed Trump's claim that he was wiretapped by his predecessor during the campaign, a sensational but ...

Maybe investors should forget the Trump trade and start prepping for the Trump correction. There's an undeniable "risk off" vibe reverberating through markets.

Rinehart soars up Forbes Rich List but Trump tumbles

The resurgent iron ore price helped Gina Rinehart double her fortune in 2016, according to Forbes.

Gina Rinehart has consolidated her position as Australia's wealthiest person with the prominent magazine Forbes saying the mining magnate's net wealth jumped to $US15 billion ($19.4 billion) over the past 12 months.

Brazil president seeks to calm fears over meat sales, exports

Brazil's President Michel Temer, left, hosts a dinner for diplomats at a traditional Brazilian barbecue restaurant.

Brazil's President Michel Temer, confronting a corruption scandal tarnishing the coountry's lucrative meat industry, met on Sunday with executives and foreign diplomats to assuage health concerns tarnishing a sector responsible for $12 billion in annual exports.

Heinz security guard accused of insider-trading plot

It's the second insider trading case related to the $US28 billion takeover of Heinz by Warren Buffett's Berkshire ...

A security guard for a Heinz board member, Todd David Alpert printed out an email for his employer with the terms of the $36 billion takeover of the food giant. The next day, he called his broker and started trading.

Fast fashion fades as H&M;, Zara's profitability falls

H&M reported the first monthly sales drop in almost four years.

Fast fashion is getting tougher as consumer rather spend up on leisure activities and buy more clothes from the rising number of online suppliers. Zara's profitability has shrunk to an eight-year low and H&M; reported its first sales drop in almost four years.

Glaxo pays its first female CEO a quarter less

Emma Walmsley will take the helm at Glaxo at the end of the month.

Emma Walmsley, poised to take over as the first female chief executive officer of the global pharma giant, will earn about a quarter less than her predecessor. The move is likely to reignite a debate on the gender pay gap.