Building cities from scratch to avoid urban heat
One solution being touted for extreme urban heat is building new cities from scratch. One project, Masdar City in the UAE began construction almost two decades ago.
China Evergrande reportedly has last-ditch debt plan
China Evergrande Group, the world's most indebted property developer, is seeking to avert a potentially imminent liquidation with a last-minute debt restructuring proposal, three people with direct knowledge of the matter said.
How cryptocurrency is funding Hamas and Hezbollah
A new front has emerged in Israel's fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron. Israel's counter-terrorist financing authorities have seized more than a hun...
Sumitomo Mitsui CEO Ohta, who pushed Asia growth, dies
Jun Ohta, chief executive officer of Sumitomo Mitsui Financial Group Inc., Japan's second-largest bank, has died of pancreatic cancer at age 65.
Barclays reportedly plans £1 billion in cost cuts
Barclays Plc is working on plans to reduce costs by as much as £1 billion ($1.3 billion) over several years, which could involve slashing as many as 2,000 jobs, according to Reuters.
Inflation and cost of living outpaces wage growth
Australian wages have grown at the fastest pace on record, but only after low paid workers and aged care staff were given one-off boosts. Even though pay packets have picked up, most Australians are still struggling due to the high cost ...
Wall Street sells car loans customers can't repay
Wall Street is making millions selling car loans to customers who can't pay them off. Lenders profit while borrowers buckle under debt as part of a fine-tuned money-making machine.
China’s property sector crisis threatens economic recovery
A slump in domestic demand in China is weighing on the prospects for an economic recovery. Analysts point to low consumer confidence and a property sector crisis.
What’s behind today’s new gold rush?
China, the United States, Germany, Italy, and Russia are all on a gold-buying spree. For their central banks, gold is a stable reserve asset. The price of gold is at a record high as a result.
Burgernomics: What is the Big Mac index?
The Big Mac is the same around the world, but its price is not — so it’s a good tool to compare purchasing power among currencies.
UBS posts first quarterly loss in six years
UBS posted its first quarterly loss in almost six years, as the ongoing absorption of Credit Suisse drags on the Swiss lender's performance. The Zurich-based bank said it had a net loss of $785 million for the three months to September, ...
FTX founder Sam Bankman-Fried guilty of fraud
Former crypto mogul Sam Bankman-Fried was convicted Thursday of defrauding his FTX customers out of billions of dollars, in one of the biggest financial frauds on record, with Manhattan's top prosecutor saying the case should serve as a ...
Home buyers awarded billions in real estate case
The National Association of Realtors and several large brokerage firms have been found liable of conspiring to artificially inflate real estate commissions. After about two weeks of hearing testimonies, a federal jury in Kansas City rule...
Donald Trump Jr. to testify in New York fraud case
Donald Trumps children are taking to the stand in a trial against their family's business, which has been accused of fraud in the State of New York. Donald Trump Jr. is expected to testify Wednesday and Eric Trump on Thursday.
WeWork prepares to file for Chapter 11 bankruptcy
WeWork Inc. is preparing to file for bankruptcy as soon as next week, according to people with knowledge of the matter.
Tesla valuation falls $145 billion on low demand
Tesla Inc. shares have dropped roughly 20% since the company reported third-quarter results less than two weeks ago, amid growing concerns that demand for electric cars is starting to weaken.
Sam Bankman-Fried testifies in his fraud trial
FTX founder Sam Bankman-Fried testified at his fraud trial, without the jury present, that lawyers at his now-bankrupt cryptocurrency exchange were involved in key decisions at the heart of the case, as he sought to distance himself from...
Sam Bankman-Fried to testify in his FTX fraud trial
In a surprise move, Sam Bankman-Fried will take the stand at his own fraud trial. The FTX founder faces decades in prison on charges related to collapse his digital-asset empire.
Bitcoin hits $35,000 for first time since 2022
Bitcoin extended a rally fueled by expectations of fresh demand from exchange-traded funds, reaching the highest price since May of last year.
Tech giants expected to deliver huge growth numbers
With the list of stock-market worries growing seemingly by the day, investors looking to earnings season for a dose of good news are hanging their hopes on a familiar group: Big Tech. Names including Amazon, Google and Microsoft all repo...
Is marijuana banking reform on the way?
Thanks to federal banking rules, legal cannabis dispensaries are cash dependent. But there is renewed hope that Congress might be changing that. Marijuana laws could change as DEA considers reclassification.
CBA loses market share as competition heats up
For the first time in more than five years the Commonwealth Bank has lost market share to other banks. Analysts believe CBA could soon launch competitive deals to win back customers which would be good news for borrowers looking to refi...
Commonwealth Bank loses market share as competition heats up
Competition between banks for home loan customers could soon heat up again amid news the nation's biggest lender has lost market share to other banks. Analysts believe the Commonwealth Bank could soon launch competitive deals to win back...
Sam Bankman-Fried knew about shortfall, trial hears
Sam Bankman-Fried directed that money from his Alameda Research hedge fund be used to make political donations after he learned the fund owed $13 billion to customers of his FTX cryptocurrency exchange, a former executive has testified.