News

  AP China’s ambitions to become a pioneer in nuclear energy are sailing into troubled waters. Two state-owned companies plan to develop floating nuclear reactors, a technology engineers have been considering since the 1970s for use by oil rigs or island communities. Beijing is racing Russia, which started developing its own in 2007, to get a unit into commercial operation. ...

  Bloomberg Investors led by Chinese online games developer Shanghai Giant Network Technology Co. agreed to buy Caesars Entertainment Corp.’s online casino-style games unit Playtika Ltd. for $4.4 billion in cash, even as gambling remains illegal in the Asian country. The consortium includes Yunfeng Capital, the private equity company founded by Alibaba Group Holding Ltd. Chairman Jack Ma, China Oceanwide ...

AFP Veteran politician Yuriko Koike was elected on Sunday as Tokyo’s first woman governor, according to media exit polls, and immediately vowed to get a grip on the megacity’s troubled 2020 Olympic preparations. Public broadcaster NHK, Jiji Press and other major media forecast the 64-year-old Koike as the winner just after polls closed at 8 pm (1100 GMT). Koike is ...

  Bloomberg Chinese billionaire Jack Ma wants to pry the lid off China’s opaque charities. Ant Financial, the affiliate of Alibaba Group Holding Ltd. he controls, is using the technology behind bitcoin to record transactions and improve the accountability of the country’s philanthropic organizations. The company began a tamper-proof ledger based on blockchain technology to record donations made by its ...

  Madrid / AFP Luis Lag is one of thousands of Spaniards who went abroad during the crisis. This “very good decision” allowed him to find a better job when he eventually came back. But many others who left their country in search of work are still unable to return home due to Spain’s sky-high unemployment. Before leaving in 2011, Lag ...

  London / AFP The billionaire owner of the Topshop clothing chain on Saturday accused a leading British MP of running a “kangaroo court” after the tycoon was slammed over the collapse of department store chain BHS. Philip Green wrote a letter to Frank Field, saying that he had led a campaign against him culminating in the publishing of a report ...

  Bloomberg America Movil SAB, the Latin American wireless carrier controlled by billionaire Carlos Slim, sank to a seven-year low after reporting disappointing profit with its Mexican unit under siege from competitors and regulators. Earnings before interest, taxes, depreciation and amortization fell 11 percent from a year earlier to 61 billion pesos ($3.23 billion), the Mexico City-based company said Thursday ...

  Bloomberg Technology billionaires are making a run for the top of the global wealth rankings as surges for Facebook Inc., Amazon.com Inc. and Google parent Alphabet Inc. added $5.6 billion to their founders’ fortunes this week. Google co-founders Larry Page and Sergey Brin gained a combined $2.7 billion after the search engine’s ad business reported a growing user base ...

  Emirates Business Uber Technologies Inc. can’t require a Connecticut customer accusing the company of price-fixing to resolve the fight in arbitration, a federal judge ruled in one of several cases challenging the ride-hailing company’s efforts to steer disputes of all kinds away from public courtrooms. U.S. District Judge Jed Rakoff in Manhattan said Friday that Uber’s online user agreement ...

Dubai / Emirates Business An increase in soil testing frequency is pointing to a buoyant construction sector in the UAE, according to the top official of Geoscience Testing Laboratory (GTL), a subsidiary of Prime, the region’s leading quality and compliance solutions provider. The Chief Executive Officer of GTL, Mary Jane Alvero Al Mahdi said, “There is an increase in frequency ...