Traders sleep by their desks as China's financial hub locks down
CNN
China's banks and investment firms are calling on essential staff to live at the office this week to avoid any trading disruption during Shanghai's massive Covid lockdown.
A person familiar with the matter told CNN Business that traders and fund managers were being offered between 500 and 2,000 yuan ($78 to $314) per night to camp out at work, with some companies placing folding beds under workers' desks. Other firms have also provided staff with sleeping bags, food and toiletries to get by.
One of China’s most popular short-video and streaming platforms was flooded with porn and violent content earlier this week, sparking outrage and bafflement in a nation where the internet is tightly controlled.
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Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.
Thieves are increasingly targeting the copper wires that keep America’s power grids and phone networks running.
You don’t get labeled the “Oracle of Omaha” for nothing.
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“60 Minutes” just suffered a severe blow to its credibility. Now one of its own correspondents fears the program is being “dismantled,” and some employees are threatening to quit.
Popular Kentucky bourbon maker Jim Beam plans to pause production at its main distillery next year, according to the James B. Beam Distilling Company.
The opening was shy of analysts’ expectations that it could earn more than $100 million, but it also earned roughly $257 million internationally, bringing its global opening to $345 million.