Controversial US Visa Draws Rich From China to India After Reset

(Bloomberg) — A US visa program that attracted $37 billion in foreign investments since 2008 for projects including New York’s Hudson Yards and Trump Bay Street in Jersey City is making a comeback — and the queue of wealthy applicants from China to India is growing. The revived EB-5 program is poised to fund undertakings from a golf resort in … Read more

Bezos Loses Title of World’s Second Richest Man to Indian Billionaire

It was to be expected.  Jeff Bezos has lost the title of second richest man in the world behind Elon Musk, electric-vehicle leader Tesla’s  (TSLA)  chief executive.  The founder and executive chairman of tech and online-retail giant Amazon  (AMZN)   dropped to No. 3, on Sept. 16 at around 10:38 a.m in New York, according … Read more

Ferrari unveils Purosangue, a 4-door, V-12-powered sports car

Ferrari Purosangue Source: Ferrari Ferrari on Tuesday revealed its new Purosangue, the 75-year-old sports car maker’s first-ever four-door production vehicle. The Purosangue looks like an SUV, akin to other luxury sports SUVs from brands like Porsche and Maserati. But despite its size, shape and higher stance, the company insists that the Purosangue – which means … Read more

Homes Sell Below List Price in US for First Time Since March 2021

The shift is largely because of surging mortgage rates, which have dented affordability and kept many would-be buyers on the sidelines, forcing sellers to accept lower prices. The average sale-to-list price ratio fell to 99.8% in the four-week period ended Aug. 28. It hasn’t been below 100% since March 2021, Redfin said.

How much does it cost to travel full time? Here’s what one couple pays

Ernestas Tyminas felt “stuck” in his role as a marketing manager at a newspaper in Colorado Springs, Colorado. So he requested two months off to backpack through Asia, he said, landing in Beijing in January 2019. “On the first day … I meet this one,” he said, gesturing to Darina Karpitskaya, sitting by his side. … Read more

What stock buybacks are, and how a new 1% tax affects your portfolio

U.S. President Joe Biden gestures as he delivers remarks on the Inflation Reduction Act of 2022 at the White House in Washington, July 28, 2022. Elizabeth Frantz | Reuters The new 1% excise tax on corporate stock buybacks — a late addition to President Joe Biden’s sweeping tax, health and climate package — adds a … Read more

World’s Richest Family Loses $13 Billion in Walmart Rout

Shares of the Bentonville, Arkansas-based retailer, which is controlled by the family, tumbled as much as 9.1% in New York trading after it said adjusted earnings per share will decline as much as 13% this year with US shoppers reining in spending on big-ticket items amid soaring consumer prices. Two months ago, the company said … Read more

What A Bear Market And Strong Dollar Mean For Car Collectors

(Bloomberg) — In the past two weeks, Peter Brotman found himself evaluating two multimillion-dollar car collections offered for private sale. Each collection—one with more than a dozen significant Porsches, the other featuring a cache of heavy hitter Ferraris—represents a massive potential transaction on an ultra-rare group of cars that were so undercover that until recently, even … Read more

Twitter Gets a Win Over Musk With Trial Fast-Tracked for October

Andrew Rossman, a lawyer for Musk, argued at the hearing that there was no need to rush a trial to meet an October deadline specified in the deal. The important date is when the financing commitments for the purchase expire, near the end of April of next year, he told the judge. A February trial … Read more