Business Contents Archive

Joe Biden’s sweeping climate bill looked doomed to fail. Then Bill Gates stepped in. Link in bio for the full story.

The UK’s leading Rolex dealer, Watches of Switzerland Group, will relocate its flagship store to a much larger London location, underscoring its faith in strong demand for the storied Swiss brand. The company says it will move its current Rolex boutique in London from a 900 square-foot (84 square meters) location on Bond Street to a new 7,200 square-foot space on Old Bond street in 2023. The huge new shop will still be well shy of the world’s largest Rolex boutique, in Dubai. Tap the link in bio to find out more.

Late on a sleepy summer afternoon last week, a pair of filings hit the SEC website. In terse, boilerplate language, they stated that two SPACs launched by Chamath Palihapitiya needed to push back the deadlines they had set to make acquisitions. Few on Wall Street even seemed to notice them, and Palihapitiya was in no mood to trumpet the news. There were no tweets, no interviews, none of the braggadocio that came with so many of his big SPAC deals, back when the market was the hot new thing in finance, a sure-fire, money-minting machine, and Palihapitiya was its undisputed king. But if those euphoric moments two years ago represented the peak of SPAC frenzy — a phenomenon created out of the same ingredients that gave us meme stocks and Dogecoin millionaires — then these SEC filings represented something of an unofficial end to this chapter of financial mania. Tap the link in bio for the full story.

Even when everything was going right — inflation was nonexistent, interest rates were low and stocks were in an extended bull market — the US was facing a multi-trillion dollar retirement savings shortfall. Then came a pandemic, war in Europe, decades-high inflation, the fastest rate-hiking cycle since the early 1980s and fears of a recession. The resulting market turmoil erased some $3.4 trillion from 401(k)s and IRAs in the first half of 2022, according to Alicia Munnell, director of Boston College’s Center for Retirement Research. The picture looks even worse for young people who are priced out of the housing market, struggling to build wealth and buried under mountains of student-loan debt. Millions of Americans face the reality of spending their senior years struggling to make ends meet. So how did one of the wealthiest countries in the world end up in this situation? Read the full story at the link in bio. 📷: Chandan Khanna/AFP/Getty Images

How likely is a Chinese invasion of Taiwan? Singapore's leader-in-waiting says “no one deliberately wants to go into battle, but we sleepwalk into conflict.” In an exclusive interview, Deputy Prime Minister Lawrence Wong says the relationship between the world’s biggest economies is on a “very worrying” trajectory in the wake of House Speaker Nancy Pelosi’s visit to Taiwan and China’s military drills. He also says Singapore’s goal is to create an “overlapping circle of friendships” in which all major powers have stakes in the region. Tap the link in bio to read more.

Five billion people would die in a modern nuclear war with the impact of a global famine -- triggered by sunlight-blocking soot in the atmosphere -- likely to far exceed the casualties caused by lethal blasts. Scientists at Rutgers University mapped out the effects of six possible nuclear conflict scenarios. A full-scale war between the US and Russia, the worst possible case, would wipe out more than half of humanity, they said in the study published in the journal Nature Food.

MUSK BE KIDDING: The electric automaker seems to be leading the 'charge' into the future. Link in bio.

Africa’s most-populous nation showed more interest in cryptocurrencies than any other country since the digital assets began to decline in April, according to a study by price tracker CoinGecko. Nigeria has the highest search score in the study that looked at Google Trends data for six searches such as “buy crypto” or “invest in crypto.” The Nigerian stock exchange said in June it planned to start a blockchain-enabled platform next year to deepen trade and lure young investors to the market. Tap link in bio to see where other countries rank.

Bhavish Aggarwal, the founder of ride-hailing firm Ola who disrupted the electric scooters market in the country, is planning to launch an electric sports car in 2024. The plan will put it in competition with Indian players, such as the Tata group and Mahindra & Mahindra, and global giants like Tesla and Hyundai. #ola #sportscar #electriccar #electricvehicle #fast #speed #cars #india

SWITCHING CHANNELS: The 'Riverdale' network will now be aiming toward an older audience. Link in bio.

The Centre may release about Rs 35,000 crore to states as goods and service tax (GST) arrears by September-end, Business Standard has learnt, taking the compensation for the year (FY23) to Rs 1.2 trillion. #gst #centre #states #india #tax #compensation

People from the Parsi community embrace each other at a fire temple on the occasion of 'Navroz', the Parsi New Year, in Ahmedabad. Photo: PTI #navroz

It all started to go from bad to worse as controversial former AIFF president Praful Patel, whose third term in office ended in December 2020, stayed in office citing a pending Supreme Court case. Head to our link in bio to read the full story

The wholesale price-based inflation eased to 13.93 per cent in July on easing prices of food articles and manufactured products. The Wholesale Price Index-based inflation was 15.18 per cent last month and at a record high of 15.88 per cent in May. It was 11.57 per cent in July last year. The WPI inflation continued its declining trend for the second month in July but remained in double-digits for the 16th consecutive month beginning April last year. #Inflation #WPIinflation #India

● The investment will be the largest check written for a single round of backing in Andreessen Horowitz's history, according to the New York Times, which first reported on the deal. ● Details on Flow are scant, but the company seeks to address America’s housing crisis, in part by offering community-centric services in apartment properties. ● Already, Neumann has purchased thousands of residential units in Atlanta; Fort Lauderdale, Florida; Miami; and Nashville, Tennessee, where he plans to operate as landlord. ● Read more through the link in our bio. (📸: Jackal Pan/Visual China Group/Getty Images)