Bloomberg Alibaba Group Holding Ltd. Executive Vice Chairman Joe Tsai has agreed to buy 49 percent of the Brooklyn Nets from Russian billionaire Mikhail Prokhorov in a deal that values the National Basketball Association club at a record $2.3 billion, according to people familiar with the matter. The agreement gives Tsai the right to buy the remaining stake of the ...

­­­­­­­­­­­Bloomberg The Federal Emergency Management Agency is investigating a controversial $300 million contract to rebuild Puerto Rico’s power grid, a no-bid award that has spotlighted the agency’s poor record of policing similar grants and drawn scrutiny from its watchdog. Whitefish Energy Holdings LLC, a Montana-based company that had just two full-time employees prior to beginning its work in Puerto Rico, ...

Bloomberg The US imposed duties on imports of aluminum foil from China, ratcheting up trade tensions between the world’s largest economies before President Donald Trump’s visit to Beijing next month. The Commerce Department said it would impose preliminary import duties in the range of 96.81 percent to 162.24 percent on Chinese aluminum foil, saying the goods are being sold at ...