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03 Oct 2022

Days before civil trial, Chinese billionaire Liu settles US rape allegation

The civil suit was part of a long-running legal battle between Richard Liu and Liu Jingyao, who was a 21-year-old student in 2018 at University of Michigan when she said Liu raped her after an evening of dinner and drinks.

Chinese billionaire

11 May 2021

Chinese billionaire suffers a loss of Rs 18,365 crore for sharing a poem

The poem, posted on May 6 by Chairman and CEO Wang Xing on a small social media site that he founded, criticises the emperor of the Qin dynasty, who burnt books to suppress intellectual dissidents, only for it to be overthrown by illiterates. Shares of Chinese food delivery giant Meituan slumped further in a sell-off precipitated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping. He was referring to social media criticism of Meituan and other industry players` treatment of delivery riders, most of whom are not covered by basic social and medical insurance.

10 Dec 2015

Chinese-backed electric car venture to build first plant in Nevada

Faraday Future, an electric car venture with backing from Chinese billionaire Yeuting Jia, announced plans Thursday to invest $1 billion to build its first manufacturing facility in Las Vegas to make what it touts as "cars of the future."

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