As Beijing and Washington veer towards a full-blown trade war, American brands in China face what may be an even bigger threat: local rivals armed with innovative products and the Chinese government’s blessing.
Billionaire hedge fund manager William Ackman, whose investment assets have shrunk by more than half in the last three years, has made a second round of staff cuts and laid off three investor relations team members, two sources familiar with the matter said on Tuesday.
Take a Lamborghini, a few movie stars and a dash of Bacardi, and infuse it all with the scent of cryptocurrency riches. With this cocktail, Italian film producer Andrea Iervolino hopes to revolutionize the entertainment industry. He’s building a social-media platform to take on the likes of Netflix and Facebook, and has raised $575 million through a private sale of tokens. The money was the easy part.
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