Author: Daniel snow

Shares of CATL debut in Hong Kong on May 20, 2025. Sopa Images | Lightrocket | Getty ImagesShares of the world’s largest battery manufacturer Contemporary Amperex Technology rose over 17% in their Hong Kong trading debut on Tuesday.Shares were trading at 309 Hong Kong dollars apiece on the Hong Kong stock exchange, compared with the initial public offering price of HK$263 dollars per share. The IPO raised HK$35.7 billion ($4.6 billion) according to a company filing, reportedly making it the largest global listing in 2025. CATL is already listed on on the Shenzhen Stock Exchange, where the shares are down 2.26% so…

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Wynn Resorts is dropping its bid to land a casino license in New York.The company said Monday it has become clear through the rezoning process that there are better uses for its capital. Wynn had partnered with Related Companies to develop an integrated casino resort in the posh Hudson Yards neighborhood of Manhattan, where high-end shops and restaurants already draw crowds.Wynn Resorts has surrendered to the inevitability of “years of persistent opposition,” according to a company news release.It is the second casino giant this spring to throw in the towel on a New York gaming license.Las Vegas Sands announced alongside…

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Wendy McMahon, president and co-head of CBS News and Stations.Michele Crowe | CBS | Getty ImagesCBS News Chief Executive Officer Wendy McMahon announced Monday she is stepping down, the latest twist in a growing battle of wills between the company’s news division and Paramount Global controlling shareholder Shari Redstone.Paramount Global co-CEO George Cheeks talked with McMahon on Saturday and asked for her resignation, according to people familiar with the matter. McMahon agreed to step down, and the Paramount Global board held a meeting Sunday at which members were made aware of the decision, according to those people, who spoke on…

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China Shipping containers are seen at the port of Oakland, as trade tensions continued over U.S. tariffs with China, in Oakland, California, U.S., May 12, 2025. Carlos Barria | ReutersChinese exporters are offering lucrative deals to U.S. customers with promises of bearing the full burden of tariffs. Look beneath and there’s a web of illicit activity that’s propping up these shipments from China.By using the “delivered-duty-paid” shipping approach where sellers pay for all import duties, and by under-invoicing shipments, some Chinese sellers are able to offer U.S. customers pre-tariff prices, while still turning a profit, according to legal experts and…

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