He built a fortune lending to low-income borrowers shunned by banks. He paid staff below-market wages and thought they still earned too much. He gave away almost all his wealth to a handful of employees, content with his small house and a $5,000 car.
New contract demands made by the United Auto Workers union would add more than $80 billion to each of the biggest US automakers’ labor costs, according to people familiar with the companies’ estimates.
Traders trying to push Japanese shares back up to three-decade highs face increasing obstacles — including selling by global funds that helped fuel this year’s gains.
Amazon.com Inc. is in talks to join other tech companies as an anchor investor in Arm Ltd.’s initial public offering, according to a person familiar with the situation, part of preparations for a deal that could raise as much as $10 billion.
Credgenics, an online service that helps banks collect on debt, raised $50 million in a funding round led by existing backers Accel and Westbridge Capital that tripled its valuation to $340 million.
The leaders of South America’s Amazon nations gathered in Brazil on Tuesday as President Luiz Inacio Lula da Silva pushes for a united strategy to save the world’s largest rainforest — and pressures the planet’s richest countries to help.
India’s central bank is expected keep its benchmark rate and policy stance unchanged for a third consecutive meeting to support growth while food inflation accelerates in Asia’s third largest economy.
Marqeta Inc. gained after extending a partnership with Jack Dorsey’s payments company Block Inc. and posting revenue that topped analyst estimates.
WeWork Inc. shares plummeted more than 25% in extended trading after saying there’s “substantial doubt” about its ability to continue operating. The company cited sustained losses and canceled memberships to its office spaces.
The Bank of Japan’s looser grip on benchmark 10-year yields is starting to shake up the outlook for short-term borrowing costs, with swaps traders betting that the central bank will end the world’s last negative interest rate policy in as little as eight months.
