An official with China’s foreign-exchange regulator is the lead candidate to become next investment chief of the largest U.S. public pension fund, according to people familiar with the matter. The California Public Employees’ Retirement System has offered the job to Ben Meng, deputy CIO of China’s State Administration of Foreign Exchange, one of these people → Read More
KUALA LUMPUR, Malaysia — Former Malaysian Prime Minister Najib Razak was arrested Wednesday by antigraft authorities in connection with the 1MDB financial scandal over his alleged receipt of more than $600 million into his personal bank account. The authorities said that Najib was being held at the antigraft agency’s headquarters and would be transferred to → Read More
Asian stock markets mostly rose modestly in early trading Thursday, continuing recent gains fueled by investors setting aside trade concerns for now. Japanese stocks opened to muted trading, with the Nikkei NIK, +0.00% up 0.2% after consecutive gains of more than 1% on Tuesday and Wednesday. Still, the index was on pace for a fifth → Read More
Billionaire Mark Cuban will donate $10 million to women’s advocacy groups after an independent investigation found rampant sexual harassment on the business side of his basketball team. In February, Sports Illustrated reported that the Dallas Mavericks’ corporate environment was toxic and consistently devalued women. On Wednesday, the team released the results of a seven-month investigation, → Read More
Cannabis producer Tilray Inc. experienced one of the wildest trading sessions in recent memory Wednesday, with trading halted five times in a roller-coaster end to the session, but the end result — a 38% gain— has become somewhat normal for a stock that is more susceptible than others to wild price swings. Tilray TLRY, +38.12% → Read More
WASHINGTON — Republicans forged ahead with a hearing Monday to consider sexual-assault allegations against Supreme Court nominee Brett Kavanaugh and set a deadline of Friday to determine whether his accuser appears, after days of political wrangling over how best to handle accusations that threaten his nomination. White House Spokesman Raj Shah said the president won’t → Read More
The 1 million American jobs that Chinese billionaire Jack Ma promised he’d create following a 2017 meeting with then-President-elect Donald Trump are not coming, thanks to the trade war between the U.S. and China. “The promise was made on the premise of friendly U.S.-China partnership and rational trade relations,” Ma, the founder and chairman of → Read More
WASHINGTON — President Donald Trump will name retiring congressman Darrell Issa of California to be the director of the U.S. Trade and Development Agency. The White House confirmed Wednesday that Issa, a Republican from Southern California, will be named to the position, which is currently vacant. The independent agency helps companies create jobs domestically through → Read More
Amazon.com Inc. is considering a massive expansion of its cashierless AmazonGo stores, aiming to open as many as 3,000 nationwide by 2021, according to a report by Bloomberg News. If successful, Amazon’s push into brick-and-mortar retail could shake up the convenience-store and fast-casual restaurant industries, and shares of retailers such as CVS CVS, +0.45% , → Read More
European Union antitrust authorities have begun a preliminary investigation into Amazon.com Inc.’s treatment of other merchants that sell products using its platform, opening a new regulatory front against an American tech giant. EU Competition Commissioner Margrethe Vestager said Wednesday that investigators recently sent out questionnaires to merchants that sell through Amazon AMZN, -0.75% . The → Read More