Category: Business

As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. Patel, who worked for a decade in India’s Surat where about 80% of the world’s diamonds are polished, joined the exodus of gem workers leaving the city as […]

Foxconn, the world’s largest contract electronics manufacturer (2317.TW), posted a better-than-expected quarterly profit and forecast its smartphones business would see sustained revenue weakness but at a slightly slower pace this quarter. The Taipei-based company, however, is expected by analysts to boost its revenue recovery in the months ahead, underpinned by the expected launch in autumn […]

Stock investor Zhu Haifeng halved his once-cherished holdings in Chinese tech giants Tencent and Alibaba after the United States announced on Friday sanctions against some Chinese firms in the latest escalation between the world’s two top economies. The move followed U.S. President Donald Trump’s announcement of a sweeping ban on U.S. transactions with Tencent Holdings […]

Shares of Next Digital Ltd (0282.HK) tumbled over 40% on Wednesday after soaring more than 1,000% in the last two sessions, as the securities watchdog said it was monitoring trading activity in the Hong Kong media group. This week’s staggering rally was spurred by an online campaign by pro-democracy protesters to drum up support for […]

Walmart Inc (WMT.N) posted its biggest-ever growth in online sales on Tuesday as shoppers cashed in stimulus checks and ordered everything from electronics and toys to groceries from the safety of their homes amid the COVID-19 pandemic. The near-doubling of online sales in the second quarter helped the retailer trounce Wall Street expectations for quarterly […]

The S&P 500 closed at a record high on Tuesday, rebounding from huge losses triggered by the coronavirus pandemic and crowning one of the most dramatic recoveries in the index’s history. Trillions of dollars in fiscal and monetary stimulus have made Wall Street flush with cash, pushing yield-seeking investors into equities. Amazon and other high […]

Josh Black was looking for the next lucrative deal after scoring a 500% profit in a few weeks by investing in electric truck maker Nikola Corp NKLA.O following the announcement of its merger with a blank-check acquisition company. He then invested $23,000 in Spartan Energy Acquisition Corp (SPAQ_u.N) after the special purpose acquisition company (SPAC), […]