The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia traded lower on Monday afternoon, as a Nasdaq-style technology board on the Shanghai Stock Exchange marked its debut.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
New York is still the billionaire capital of the world. But Hong Kong is catching up fast.
New York has 103 billionaires, according to the Wealth-X Billionaire Census. But Hong Kong is now a close second with 93. And while New York's billionaire population is static (it only grew by one last year), Hong Kong added 21 new billionaires last year, for a growth rate of 29 percent.
"New York is the preferred location for those seeking a luxury blend of finance, culture, commerce, shopping and real estate," the report said.
In fact, New York City has more billionaires than every country except for China, Germany and India.
Hong Kong's growth, however, could soon surpass the Big Apple. Its surge was "driven by strong domestic economic performance, the upturn in global financial markets and trade and investment with China," the report said. This was a big turnaround from 2016, when a falling stock market made Hong Kong the biggest billionaire loser.
San Francisco ranked third, with 14 new billionaires, bringing its total to 74. San Francisco now has more billionaires than all but eight countries.
"San Francisco has experienced the strongest growth in billionaire numbers of any U.S. city in recent years," the report said.
Moscow lost two billionaires, as economic sanctions continued to hurt the economy.
Here is the rest of the top 10 billionaires cities list: