Tobacco Tycoon’s Wealth Declines As Indonesia Ratchets Up Taxes To Curb Smoking

This story appears in the December 2022 issue of Forbes Asia. Subscribe to Forbes Asia Susilo Wonowidjojo Gudang Garam This story is part of Forbes’ coverage of Indonesia’s Richest 2022. See the full ...

Jefferies Suggests 2 High-Yield Dividend Stocks — Including One With 13% Yield

The rollercoaster ride continues in the stock market, and equities have been falling across the board this week. The S&P 500 is down 3.5%, and the Dow has lost some 870 points. The market drop was...

Indonesian Coal Billionaire Low Tuck Kwong Mines Super-Profits To Become The Country’s Second Richest Person

This story is part of Forbes’ coverage of Indonesia’s Richest 2022. See the full list here. Bayan Resources’ Low Tuck Kwong, whose wealth jumped nearly fivefold in the past year, is confident that coa...

Senate Banking Committee calls on Bankman-Fried to testify on Dec. 14

The U.S. Senate Banking Committee wants Sam Bankman-Fried to testify on the collapse of his crypto exchange, FTX and linked trading firm, Alameda Research.  “As the Founder and CEO of FTX ...

Tesla has a demand problem, or so a Tesla bear says

Tesla Inc.’s recent price cuts on vehicles sold in the U.S. and China point to a possible demand problem, one that could persist into 2023 and cut down on the electric-vehicle maker’s margins. That’s ...

Indonesia Wealth Creation: Powered Up In 2022

This story appears in the December 2022 issue of Forbes Asia. Subscribe to Forbes Asia Getty This story is part of Forbes’ coverage of Indonesia’s Richest 2022. See the full list here. Amid intensifyi...

Why This Market Rally Is So Dangerous; Tesla Nears Bear Lows On This Move

Dow Jones futures fell slightly in extended trading, along with S&P 500 futures and Nasdaq futures. The stock market rally had a flat-to-lower session Wednesday. X The Nasdaq led declines as Apple...

Combined Wealth Jumps To A Record $180 Billion

Newcomer No. 32 Eddy Sugianto Mandiri Coal This story is part of Forbes’ coverage of Indonesia’s Richest 2022. See the full list here. Buoyed by high global prices for Indonesia’s commodity exports, t...

4 More REITs Hit New Yearly Lows

Worries about whether the Federal Reserve might slow the pace of interest rate hikes are taking a toll on a few real estate investment trusts (REITs). These four interest-sensitive REITs dropped to ne...

I’m Not Afraid Republicans Will Cut Social Security. I’m Afraid They Won’t.

Congressional Democrats’ final argument prior to the mid-term elections was, of all things, that Republicans would cut or even “end” Social Security. In reality, most Republicans have not given Social...

The Fed is expected to raise rates once more before 2023. If you’re shopping for a new CD, you may want to hold off

With inflation still at an all-time high, consumers could see one more rate hike from the Fed before 2022 comes to an end. The Federal Open Market Committee holds eight regularly scheduled meetings du...

After Crisis Meeting, Hansi Flick Remains Germany Coach

The DFB confirmed on Wednesday that Hansi Flick will remain the head coach of the Germany’s national … [+] team. (Photo by Stuart Franklin/Getty Images) Getty Images Hansi Flick will remai...

GameStop, Rent the Runway, C3.ai, and more

GameStop (GME): The retailer missed on both the top and bottom lines as sales declined amid a gaming slowdown. Third-quarter net sales of $1.19 billion were down 8.5% from a year ago, driven by a 19% ...

COP27 Is Over, But Egypt’s Climate Struggles Are Just Beginning

A sunset over one of the three pyramids of Dashur in Egypt. (Photo by Barry Iverson/Getty Images) Getty Images Last month, the COP27 conference, which brings together leaders from across the world to ...

The ‘best country in the world’ is planning to ban electric cars amid the energy crisis. Is it time to revisit oil stocks? Here are 3 big plays

Winter is coming: The ‘best country in the world’ is planning to ban electric cars amid the energy crisis. Is it time to revisit oil stocks? Here are 3 big plays Electric vehicles have bec...

Rare Late-Season Disturbance Could Become First December Subtropical Storm In 9 Years

Topline A storm system developing in the Atlantic this week could become the first named December storm in almost a decade, according to meteorologists, possibly making for an unusually late end to hu...

Bruising Stock Reversal Shows How Fed’s Pivot May Come Too Late

(Bloomberg) — For many investors, December has been a shocker in the stock market. After getting sucked in by a rousing seven-week rally, they’ve now had to watch as the S&P 500 posted the l...

Introducing Allbridge Core – Crosschain Stablecoin Swap Solution

Lisbon, Portugal Allbridge – a crosschain solution provider, just launched its latest product Allbridge Core, enabling seamless transfer of stablecoins between a wide variety of EVM and non-EVM blockc...

Rich Chinese keep spending while others cut back: McKinsey survey

Pictured here is a science-fiction themed installation at the Maison Hermes in Shanghai, China, on Nov. 28, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — Wealthier Chinese were ...

Carvana Shares Crash To All-Time Low—Here’s How Its 99% Drop Compares To Other Pandemic Darling Stocks

Topline Carvana shares plummeted 41% Wednesday to $3.95, down 99% from its all-time high of $370 just 16 months ago, the latest drastic indication of investors abandoning assets that skyrocketed durin...

Is Apple A Value Or Growth Stock?

While 2022 is marked with red ink for the majority of stocks, it’s been a good year for those of the Value persuasion, relatively speaking. Indeed, as of 12.07.22. the Russell 3000 Value index had a n...

Costco earnings arrive as consumers slow down slightly

Investors are closely watching Yahoo Finance Company of the Year Costco as it is set to report its fiscal first-quarter earnings Thursday after the market close. Costco is coming off cooling sales in ...

Pro-fintech Republican McHenry officially named next House Financial Services chair

Rep. Patrick McHenry, R-N.C., has been named the next chair of the House Financial Services Committee. The House Republican Steering Committee, which determines committee leadership positions, m...

RXDX Stock Skyrockets On Promising Results In Irritable Bowel Disease

Prometheus Biosciences (RXDX) reported promising results for one of its drugs in two inflammatory disease studies on Wednesday, and RXDX stock catapulted by triple digits. X The company studied its dr...

The Contract Won’t End Well, But The Yankees Had To Sign Aaron Judge

Major League Baseball player Aaron Judge walks with his wife on the sideline before an NFL football … [+] game between the Tampa Bay Buccaneers and the New Orleans Saints in Tampa, Fla., Monday,...

Amazon CEO, Putting Stamp on Company, Promotes Four Leaders

(Bloomberg) — Amazon.com Inc. Chief Executive Officer Andy Jassy has appointed four executives to senior roles as he continues to put his stamp on the world’s largest e-commerce company. Most Re...

Academy Sports + Outdoors Reports Third Quarter 2022 Results

Conroe Texas store Photo Courtesy company Courtesy Academy Sports There was a real air of confidence as management of Academy Sports + Outdoors spoke about the future of the company. Management had ju...

AMC’s APEs hit new low

AMC Entertainment Holdings Inc.’s AMC, -10.37% AMC Preferred Equity Units APE, -8.91%, or APEs, hit a new low of $0.82 on Wednesday. The stock was down 7.6% by mid-afternoon Wednesday, outpacing...

Kanye West’s Yeezy Brand Owes $600,000 In Unpaid State Taxes, Records Show

Topline Kanye West’s brand Yeezy Apparel owes California more than $600,000 in unpaid tax debt, according to state lien notices sent to the company in recent years, as West’s financial troubles deepen...

Is Lululemon Athletica eyeing a Santa Claus rally to the April highs?

With a monthly gain of 14.64%, Lululemon Athletica Inc. (NASDAQ:LULU) could be looking to end the year strong. The stock has lost by a similar margin in the last one year, with the recoveries giving h...

Exxon’s US Workers Get Inflation-Busting Pay Hike as Profit Hits Record

(Bloomberg) — Exxon Mobil Corp. is awarding US employees above-inflation pay increases just weeks after the Texas oil giant posted its highest quarterly profit, underlining how strong 2022 has b...

More Classified Records Found In Trump’s Florida Storage Unit, Reports Say

Topline A search team that former President Donald Trump’s attorneys were court-pressed to hire discovered at least two records marked “classified” at a storage unit the ex-president used in West Palm...