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Combined net worth of 500 richest surges by $1.5 trn in 2023, Musk leads

No one did better than Elon Musk, who recaptured the title of world's richest person from French luxury tycoon Bernard Arnault. The Tesla chief executive officer netted an additional $95.4 billion

US 10-year yield poised to end 2023 at almost exactly where it started

It's an almost farcical conclusion to 12 months of trading that saw rates on the benchmark - a global anchor for markets and US mortgage rates - tumble to as low as 3.25 per cent

Goldman Sachs beats JP Morgan to emerge best provider for merger advice

The bank ended up with a 31% share of the global take for merger advice, edging past JPMorgan Chase & Co., which was in the lead at the year's midpoint, according to data compiled by Bloomberg

Brics to grow as Saudi, Iran, UAE, Egypt, Ethiopia join ranks on Jan 1

Current members Brazil, Russia, India, China and South Africa in August invited six other nations to become part of their group, pairing some of the planet's largest energy producers

Oil limps into 2024 as Opec+ and war fail to prevent annual drop: Report

Brent crude edged higher toward $78 a barrel Friday, but is set to close 2023 about $8 below where it started the year

First made-in-China cruise ship to set sail from Shanghai to S Korea

The Adora Magic City will depart from its home port of Shanghai Monday for a six-day trip that will take in South Korea's Jeju island and the Japanese cities of Nagasaki and Fukuoka

US tries to persuade shippers to sail Red Sea despite Houthi attacks

The Pentagon is engaged with industry on a near-daily basis to gauge needs and provide reassurance that the international community is there to help with safe passage

Huawei sales near $100 billion in year of semiconductor chip breakthroughs

Sales jumped to more than 700 billion yuan ($98.7 billion), their fastest pace of growth in years thanks to a resurgent smartphone business and robust 5G equipment sales

Retail trading boom doubles turnover of futures and options at NSE

Retail investors currently make up for more than 25% of the average daily turnover in derivatives. More than 8 million individual investors traded in this segment in 2023

Apple partner Luxshare set to gain control of key China iPhone plant

Luxshare is set to buy a 62.5% stake in Pegatron Corp.'s Kunshan unit in eastern China for about 2.1 billion yuan ($300 million), according to an exchange filing by the latter

Record eight-year winning streak seen extending for Indian equities

That's the key takeaway from an informal Bloomberg News survey of 10 fund managers and strategists, seven of whom said the NSE Nifty 50 Index will rise in 2024

Elon Musk's X fails to block US content moderation law on disclosure

In an eight-page ruling Thursday, a federal judge in Sacramento rejected arguments by the company formerly known as Twitter that the measure violates the free-speech rights of social media platforms

Democracy to face toughest challenge in face of fake news in 2024

The stakes are extraordinarily consequential for the future of democracy itself. In the US, the electoral favorite appears to revel in the possibility of becoming a dictator

L'Oreal heir Francoise Meyers becomes first woman with $100 bn fortune

The milestone came as shares of L'Oreal SA, the beauty products empire founded by her grandfather, rose to a record high, with the stock set for its best year since 1998

Apple supplier Luxshare to control Taiwan rival's iPhone assembly site

The acquisition is expected to give Luxshare a better chance at competing with Taiwan's Foxconn Technology Group, Apple's primary manufacturing partner

New US unemployment benefits claims rise again as labor market cools

The figures tend to be volatile around the holidays. The four-week moving average, which offers a clearer picture of the trend, was little changed at 212,000 last week, the lowest since late October

Credit Suisse penalised $3 mn after probe by Singapore authorities

The action on Credit Suisse follows its review of pricing and disclosure practices in the private banking industry, according to the MAS

Adani Group steps into AI joint venture with West Asia backer IHC

Adani Global Ltd. and IHC's Sirius International Holding Ltd. will own 49% and 51% respectively in the Sirius Digitech International Ltd., which will be based in Abu Dhabi

China's top political advisory body CPPCC removes 3 defence executives

CASIC is a state-owned enterprise that makes spacecraft and missile systems, while Norinco is a weapons producer for the People's Liberation Army

Inside the record year for India's $585 billion mutual funds industry

Equity funds have seen inflows for 33 straight months through November, with monthly recurring plans emerging as the most popular product among retail investors