SEOUL • A new elite of uber-rich entrepreneurs is shooting up the wealth rankings in South Korea, overtaking the families behind the country's decades-old sprawling conglomerates known as chaebol.. Read more at straitstimes.com.
HONG KONG • The prediction was vintage Jack Ma, as provocative as it was prescient. This is the era of the Internet, the Chinese billionaire proclaimed in October 2013, just weeks after his plan to take Alibaba Group Holding public in Hong Kong had been scuttled by regulators. It no longer belongs to Li Ka-shing.
Mr Ma s dig at the famed Hong Kong tycoon raised plenty of eyebrows at the time, but few would disagree with him now. The past few years have seen a remarkable shift in fortunes between China s tech-savvy moguls and their old-school Hong Kong counterparts - a trend that shows few signs of fading any time soon.
The Straits Times
Mr James Dyson faced criticism from UK lawmakers for relocating his company.PHOTO: DYSON
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MUMBAI (BLOOMBERG) - A struggling 261-year-old UK toy-store chain is seeking a new lease of life in the hands of billionaire Mukesh Ambani, who s looking to India where about a fifth of the world s babies are born to fuel its revival.
Hamleys, a British retail icon that hasn t made a profit for a number of years, plans to quadruple its outlets in India to more than 500 in three years despite the pandemic, according to Darshan Mehta, chief executive officer of Ambani s Reliance Brands. Besides the main growth market, the company is also adding stores from Europe to South Africa and China, he said in an interview.