business

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Billionaire Packer Quits Crown Amid Mental Health Issues

Packer to step back from all commitments, spokesman says Gaming mogul only returned to the board seven months ago stepping down as chairman and then as a director in 2015. “He’s a large figure in the business world and there’s a lot more scrutiny of what he does than of others,” said Evan Lucas, an

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These Are the Worlds Cheapest Places for Drugs, Booze and Cigarettes

Drugs, drinks and cigarettes are most affordable in Luxembourg In Japan, New Zealand and Australia vice basket tops $1,000 a year earlier. Online Sales In absolute terms, the gross weekly cost exceeded $1,000 in only three countries: Japan, New Zealand and Australia. By comparison, an equivalent basket ran less than $100 in 21 mostly tropical

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Peter Munk, Entrepreneur Who Founded Barrick Gold, Dies at 90

He spent three decades expanding company into a global giant Hungarian-born Munk pledged bulk of fortune to philanthropy love affair. After the deprivation of postwar Europe, food was abundant and friends welcomed him into their homes with open fridges. He worked a series of odd jobs — selling Christmas trees, harvesting tobacco, clearing bush —

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Sociologists Examine Hackathons and See Exploitation

As the gospel of Silicon Valley-style disruption spreads to every sector in the economy, so too have the industry’s favorite competitive ritual, hackathons. The contests, where small teams of “hackers” build tech products in marathon all-night coding sessions, are a hallmark of Silicon Valley culture. Recall Facebook’s most famous hackathon, thrown on the eve of

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A Hurricane Flattens Facebook

Two weeks ago, Facebook learned that The New York Times, Guardian, and Observer were working on blockbuster stories based on interviews with a man named Christopher Wylie. The core of the tale was familiar but the details were new, and now the scandal was attached to a charismatic face with a top of pink hair.

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Recovering Philippine Governor Gets No Respite on Rate-Hike Push

Philippine central bank Governor Nestor Espenilla’s admission that he’s recovering from cancer hasn’t stopped investors from pushing for more action on monetary policy. Espenilla said he was diagnosed with “Read Espenilla’s verbatim comments on Feb. 25 Espenilla has taken a cautious approach to monetary policy tightening, keeping the benchmark interest rate unchanged at 3 percent

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Remingtons Bankruptcy May Be the Tip of the Iceberg

Firearms companies face declining sales, falling stock prices and tremendous debt. Gunmaker American Outdoor Brands Corp., formerly known as Smith & Wesson, has seen its stock plummet by almost half from 2017. On Monday, Remington Outdoor Co., an iconic, 200-year-old American firearms manufacturer, announced it’s planning to file for bankruptcy.   With Republicans in control of Washington, there’s little

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Martin Shkreli jailed: 'Pharma Bro' sentenced to seven years for fraud

Shkreli, convicted of securities fraud and conspiracy, sought leniency from the court after calling the trial a witch-hunt In a packed Brooklyn courthouse on Friday, Martin Shkreli, the Pharma Bro who rose to international notoriety after increasing the price of a lifesaving drug 50-fold, was sentenced to seven years in prison. Shkreli, 34, was obtain

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What Led the Middle East's Top Dealmaker to Step Down

The Middle East’s biggest private equity dealmaker is stepping aside under a cloud of controversy. Arif Naqvi ceded control of the fund-management unit of his Abraaj Group in February on the heels of allegations that money in the company’s health fund had been misused. Naqvi and the company denied any wrongdoing and blamed unforeseen political and

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This Is the Smart Home of the Future

Don’t worry: Technology may come and go, but some things never change. In the not-so-distant future, cars will drive themselves and men may become obsolete (sorry, guys), but home will always be home. It’ll just be a heck of a lot smarter. Photographer: Evan Ortiz/Bloomberg Granted, some tech is better than other tech. No one needs