Business
Companies, deals, and the industries shaping the global economy.
Business
Nvidia Reportedly Agrees to Buy Open Source AI Platform Hugging Face for $12.9 Billion
The chipmaker is said to be paying nearly triple Hugging Face's last private valuation, a move that would hand Nvidia control of one of the most widely used hubs for open source AI models.
2 min read
Business
Rakuten Brokers Deal to Bring German Strike Drones to Japan's Military
Rakuten is acting as the go between for Helsing, a German defense startup, as Japan's Ground Self Defense Force field tests the company's HX-2 strike drone through the end of September.
2 min read
Business
China Hands Evergrande Founder Hui Ka Yan a Life Sentence
A Chinese court sentenced Hui Ka Yan, the property tycoon once ranked as Asia's richest man, to life in prison after he pleaded guilty to fraud, bribery, and other charges tied to Evergrande's collapse.
1 min read
Entrepreneurs
Meet Peyush Bansal, Whose Plan to Help India See Better Made Him a Billionaire
Sixteen years after founding the eyewear retailer Lenskart, Peyush Bansal is worth an estimated 1 billion dollars, riding a November 2025 IPO and a chain of nearly 3,500 stores that has turned clearer vision into an 11 billion dollar company.
3 min read
Business
Peptides May Soon Be Legal, and These Companies Are Ready to Cash In
An FDA advisory panel has weighed legalizing production of seven peptides, and compounding pharmacies like Empower and Strive, along with Hims and Hers, are racing to turn a 3 billion dollar gray market into a legitimate business.
3 min read
Business
Mukesh Ambani's Reliance Teams With Rolls-Royce to Build Fighter Jet Engines in India
Reliance Industries and Rolls-Royce have agreed to design and manufacture indigenous combat engines for India's fifth-generation fighter program, pushing Mukesh Ambani's empire into one of the hardest technologies in modern manufacturing.
3 min read
Business
Jeff Bezos Joins Investor Group Taking a Multibillion-Dollar Stake in Liverpool FC
An investor group including Jeff Bezos, Facebook co-founder Eduardo Saverin, and the Mittal family has agreed to buy about 30 percent of Liverpool FC in a deal valuing the Premier League club at roughly 7.4 billion dollars, with a path to majority control within a year.
3 min read
Wealth
Bill Gates-Owned Four Seasons Resort in Nevis Is Sued for 100 Million Dollars by Its Villa Owners
The homeowners association at the Four Seasons Resort Nevis, controlled by Bill Gates's Cascade Investment, is suing for more than 100 million dollars, alleging years of neglect from a broken water system to a fire site left unrebuilt for nearly four years.
3 min read
Business
BingCard Makes Signing Up Effortless. Its Reviewers Say Getting Money Out Is Not
The crypto card provider advertises no ID, no proof of address, and no credit checks, but its Trustpilot page has been flagged for a guidelines breach and is dominated by reviewers who say deposits go in easily and withdrawals never come back out.
3 min read
Business
How Royal Botania's In-House R&D Keeps It Ahead in the Global Outdoor Furniture Market
Founder Kris Van Puyvelde has built the Belgian luxury outdoor furniture brand into a global name by keeping design, research, and manufacturing under one roof, from the first sketch to the award-winning Anamon parasol.
4 min read
Policies & World
Germany's Economy Minister Warns the AfD's Rise Could Scare Off Investors
Katherina Reiche says growing support for the far-right AfD could unsettle the foreign investors Berlin is courting as it seeks at least 3.75 trillion euros of private capital by 2040 ahead of its first Invest in Germany summit in October.
4 min read
Luxury
Sardinia, Robbie Williams and Luxury at Its Highest Level: Inside the Spectacular BIG ART Festival
Under the Sardinian sky on August 9, BIG ART Festival delivered one of Porto Cervo's defining nights of the season at Romazzino, A Belmond Hotel, crowned by a headline performance from Robbie Williams.
2 min read
Leadership
Amazon's Mariangela Marseglia on Rising by Lifting Others
The vice president of Amazon European Stores says talent is not what holds women back, access and sponsorship are, and she treats every promotion as a chance to hold the door for the people coming up behind her.
3 min read
Business
The Strategy Behind Neubauer Artists Explosive Growth
Neubauer Artists , operating as Neubauer Artists LLC in United States and Jorge Limited PLC in United Kingdom, under the umbrella of the L’Oréal , has been making waves in the fashion…
5 min read
Luxury
A Night to Remember in Porto Cervo: Robbie Williams Headlines BIG ART Festival at Romazzino
Costa Smeralda welcomes an intimate celebration of music, High Jewellery, couture, gastronomy and contemporary luxury.
5 min read
Innovation
Catherine Larue Wants to Build the Bridges Between Lab Research and the Health Industry
The immunologist and former head of the Integrated BioBank of Luxembourg now runs the consultancy CoDx, helping institutes and small companies carry medical ideas from the research bench to the market that missing gateways so often leave stranded.
3 min read
Markets
Coinbase Makes Luxembourg Its European Home With a MiCA License and Big Ambitions
Coinbase has won a MiCA license from Luxembourg's CSSF, giving it a single regulated base to passport crypto services across the European Union as chief executive Jean-Baptiste Graftieaux pitches the exchange as a partner to banks rather than a rival.
3 min read
Business
PwC Germany Bolsters Its Healthcare Dealmaking With Two Senior Hires in Frankfurt
PwC has added Jens Gerlach and Julian Knirim as partners in Frankfurt to expand its corporate finance and mergers advisory in healthcare, importing a pair of bankers with more than 15 years each and over 100 transactions between them.
2 min read
Policies & World
Lee Says Korea's Community in Germany Is a Bridge as Korean Firms Expand in Frankfurt
On the final stop of a five nation tour, President Lee Jae Myung told Koreans in Frankfurt that their community is a key pillar of Korea's competitiveness and a bridge to Europe, as Korean companies deepen their presence across Frankfurt and Hesse.
2 min read
Markets
Commerzbank Opens the Door to Takeover Talks With UniCredit After Months of Resistance
Chief executive Bettina Orlopp told staff that Commerzbank will hold talks with UniCredit about a possible tie-up, a thaw that comes after the Italian bank built a stake of roughly 48 percent in its German rival.
2 min read
Business
BMW to Shed About 8,000 Jobs in Its Largest Voluntary Buyout as German Auto Pain Deepens
BMW plans to cut roughly 8,000 administrative and development jobs in Germany through the largest voluntary redundancy programme in its history, aiming for about 1 billion euros in annual savings from 2028 as China weakness and tariffs squeeze the sector.
3 min read
Wealth
How Private Credit's Master of Disaster Built an 800 Million Dollar Fortune
Leonard Tannenbaum has extracted more than 670 million dollars in fees, dividends, and stock sales since 2008, building an estimated 800 million dollar fortune even as the public funds he ran trailed the market or lost value for their shareholders.
4 min read
Business
Mercedes CEO Calls for a German Productivity Push as China Slump Erodes Car Profits
Chief executive Ola Kallenius is launching a productivity initiative for Germany and lowering the carmaker's 2026 outlook, after a 30 percent drop in China sales cut adjusted profit in the core cars division by 26 percent to 909 million euros.
3 min read
Wealth
How Zhu Yiming Built a 15.9 Billion Dollar Fortune Turning CXMT Into China's Answer to Micron
A Shanghai listing that made ChangXin Memory Technologies the most valuable company on China's onshore market turned its 54 year old chairman, Zhu Yiming, into a 15.9 billion dollar fortune and gave Beijing a homegrown memory chip champion.
4 min read
Wealth
This Billionaire Just Made 360 Million Dollars Selling His Psychedelic Company to Eli Lilly
Christian Angermayer bet a decade and 100 million dollars of his own money that psychedelics would go mainstream. Eli Lilly's purchase of AtaiBeckley for 2.8 billion dollars upfront just handed him a roughly 360 million dollar payday.
4 min read
Business
Lim Kok Thay's Genting Bets 5.5 Billion Dollars on a Full New York Casino Resort
Just months after opening the first casino in New York City history, billionaire Lim Kok Thay's Genting is committing 5.5 billion dollars to add a 1,200 room Crockfords hotel, a 7,000 seat arena, and thousands of new slots and tables at its Queens site.
3 min read
Business
Lucio Tan's Philippine Airlines Orders Up to 34 Jets From Airbus and Boeing
Four years after emerging from bankruptcy, the Tan family flag carrier commits to as many as 34 wide body jets, splitting its biggest order in years between Boeing Dreamliners and Airbus A350s.
3 min read
Business
Made for Germany Coalition Lifts Its Investment Pledge Past 800 Billion Euros
A business alliance built to restore faith in Germany's economy says its members now plan to commit more than 800 billion euros by 2028, up from 631 billion at launch, even as its own leaders warn the country needs more reform and steadier politics to earn it.
3 min read
Policies & World
Germany Prepares Its Terms for a UniCredit Takeover of Commerzbank
Berlin is shifting from resistance to negotiation, drawing up conditions on the Mittelstand, a Frankfurt base and an independent listing as UniCredit closes in on nearly half of Commerzbank.
3 min read
Innovation
AI Agents Can Now Spend Your Money. The Hard Part Is Getting You to Let Them
The payment rails that let software agents buy on their own are already live at Visa, Mastercard and beyond. The missing piece is trust, and the rules that would make handing over your wallet feel safe.
4 min read
Entrepreneurs
The Small Business Case for AI That Adds Jobs Instead of Cutting Them
The fear is that artificial intelligence will thin out small company payrolls. The early evidence points the other way, with most small firms that adopt AI adding staff rather than shedding it.
4 min read
Innovation
Inside Lovable, Where 200,000 New Apps a Day Are Built by Typing in Plain English
Lovable turns everyday sentences into working software, and the user built sites it hosts now pull in 600 million visits a month. Its founders explain what it takes to run vibe coding at that scale.
4 min read
Wealth
The Coffee Bean Fee That Built an 11 Billion Dollar Payments Fortune
A 500 dollar wire transfer fee on a coffee order set Jack Zhang on the path to Airwallex, the cross border payments company now valued at 11 billion dollars that has made him a fintech billionaire.
4 min read
Business
How iFAST Grew From a Singapore Fund Shop Into a 25 Billion Dollar Wealth Platform
A quarter century after it launched as an online store for mutual funds, iFAST now administers 33 billion Singapore dollars, runs a bank in London and a pension engine in Hong Kong, and is chasing a 100 billion dollar goal by 2030.
5 min read
Business
Eduardo Saverin's B Capital Raises 500 Million to Back Early Startups
The venture firm cofounded by the Facebook billionaire has closed a new early stage fund at double the size of its last one, a bet that the next wave of value will come from founders applying AI to old industries.
4 min read
Business
A German Pension Adviser Warns Against Politicizing Retirement Savings
As Germany prepares to invest statutory pension money in financial markets for the first time, a member of its pension commission cautions that the choice of what to buy must serve retirees, not the government of the day.
4 min read
Business
Stankevicius Group Steps Deeper Into AI Across Media and Defense
The company is placing artificial intelligence at the center of an unusual strategy that spans media and communications on one side and defense technology on the other, led directly by its founder.
3 min read
Policies & World
Italy Presses the EU to Water Down Green Rules in Its Next Budget
Rome wants to strip the environmental strings from the bloc's long term budget, the latest front in Giorgia Meloni's campaign to soften Europe's climate agenda and hand more power back to national capitals.
4 min read
Business
How Bending Spoons Built an 18 Billion Empire Buying Internet Has-Beens
The Italian company almost nobody has heard of just listed on Nasdaq at 18.4 billion dollars. Its trick is buying tired internet brands like AOL and Evernote, then squeezing fresh profit out of them.
4 min read
Policies & World
Germany Awards Rheinmetall a Laser Weapon Contract Without Competition
Lawmakers signed off on nearly 500 million euros for a naval laser meant to shoot down drones, and handed the work to the country's largest arms maker with no open tender.
4 min read
Policies & World
Germany Will Host the First ATACMS Missile Factory Outside America
Lockheed Martin and Rheinmetall have agreed to co-produce one of NATO's most capable missiles in Lower Saxony, the first time the weapon will be built anywhere beyond the United States.
4 min read
Policies & World
Germany Approves a Budget That Bets Big on Defense and Cuts Aid
The cabinet has signed off on a draft budget that pours money into the military and pares back development aid. It is one of the clearest signs yet of how the war in Ukraine has rewritten Germany's priorities.
4 min read
Business
Three Paths for Volkswagen as It Weighs Its Own Breakup
Europe's largest carmaker is contemplating the most radical overhaul in its history, including the once unthinkable idea of splitting itself apart. Politics, not strategy, may decide which way it goes.
4 min read
Policies & World
Deterring Russia Is Cheaper Than the Alternative, Estonia's Leader Warns Europe
As the European Union argues over how much to spend on defense, Estonian Prime Minister Kristen Michal offers a blunt calculation. The price of failing to deter Vladimir Putin, he says, would dwarf the cost of paying for security now.
4 min read
Markets
Jersey Mike's IPO Filing Reveals a Family on the Payroll and a $41 Million Jet
The sandwich chain's path to the public market comes with an unusually candid look at founder generosity, including tens of millions paid to relatives and a private aircraft for the man who built the company.
4 min read
Business
Germany Signals It Will Back Tougher EU Trade Action Against China
Berlin has long been the most cautious major voice in Europe on China. Its shift toward supporting tariffs and other trade defenses could hand Brussels the weight it needs to confront its largest trading partner.
4 min read
Business
Mayer Brown Hires a Veteran Bond Lawyer to Bolster Its Frankfurt Practice
The firm has poached one of Germany's most experienced debt capital markets lawyers from a rival, the latest sign of how fiercely global law firms are competing for talent in Europe's financial capital.
4 min read
Business
Eurex Deepens Its Asian Push With a Securities Finance Membership in Singapore
A quiet trade association membership out of Singapore points to a larger contest. Europe's biggest derivatives exchange is steadily wiring itself into the plumbing of Asia's fast growing securities lending market.
4 min read
Business
German Business Activity Shrinks Again as Services Drag on Europe's Largest Economy
A closely watched survey showed private sector output falling for a third straight month in June, with a slumping services sector outweighing a steadier factory floor and raising fresh doubts about the German recovery.
4 min read
Business
Meet the Company That Says It Has Cracked AI Software Testing
As artificial intelligence writes ever more of the world's code, the harder problem is proving that the code actually works. Sauce Labs believes it has built the tool that closes that gap.
4 min read
Business
How One Small Business Owner Clawed Back $15,000 in Tariff Refunds
After a Supreme Court ruling forced the government to return billions in unlawful duties, a maker of bags for nursing mothers navigated a clunky federal portal to recover more than 15,000 dollars. Her experience is a map for other importers.
5 min read
Innovation
How France's Mistral Built a $14 Billion AI Empire by Not Being American
Paris-based Mistral trails the American giants on raw benchmarks, yet it has become Europe's most valuable AI company by selling something they cannot: independence from Silicon Valley and Beijing alike.
5 min read
Innovation
Inside Suno's $2.5 Billion Bet That AI Made Music Is Here to Stay
The startup that lets anyone turn a text prompt into a finished song has raised hundreds of millions and started signing peace deals with record labels. Its valuation is a wager that machine made music becomes permanent.
5 min read
Innovation
A Former OpenAI Leader Is Raising $500 Million to Let AI Run the Lab
Periodic Labs, the startup building robotic laboratories that feed scientific data to AI models, is closing in on a giant round. It is a bet that the next frontier for artificial intelligence is physical discovery, not chat.
4 min read
Money
China's Glass King Is Still Betting on Giving, and on the Future
At 80, Fuyao founder Cho Tak Wong has handed his company to the next generation but not his conviction. He remains one of China's most committed givers, and an optimist about where the country's philanthropy is headed.
4 min read
Business
How South Korea's Market Boom Turned Shinsegae's Chairman Into a Billionaire
Chung Yoo-kyung joined the billionaire ranks as shares of her luxury department store group soared. The surprise is that the force lifting her fortune began far from the shop floor, in the country's booming chip sector.
4 min read
Business
Adani and Abu Dhabi's IHC Commit $11.3 Billion to an Indian Aluminum Giant
A 50:50 joint venture will build a fully integrated aluminum complex in Odisha, pairing Gautam Adani's industrial ambition with patient Gulf capital and a bet on the metal that electrification demands.
4 min read