Business Best Friend

Oil prices slipped on Tuesday as manufacturing data from Europe and Japan focused market attention on the gloomy outlook for demand. Meanwhile uncertainty around supply disruptions in Saudi Arabia remains. Brent crude futures LCOc1 fell 40 cents to $64.37 a barrel by 0624 GMT, while U.S. West Texas Intermediate (WTI) futures CLc1 were at $58.31, down 33 cents. “The demand side of the equation is back in focus,” said Michael McCarthy, senior market analyst at CMC Markets in Sydney, pointing to sluggish manufacturing numbers in leading economies in Europe as well as Japan. “That’s why we’re seeing a little bit more (downward) pressure on Brent than West Texas at the moment.” Still, oil prices remained at comparatively elevated levels for the year in the wake of the Sept. 14 attack on Saudi Arabia’s largest oil processing facility that halved output in the world’s top oil exporter. Reuters reported that Saudi Arabia has restored more than 75% of crude...

Li Ka-shing GBM KBE JP is a Hong Kong business magnate, investor, and philanthropist. As of June 2019, Li is the 30th richest person in the world , with an estimated net wealth of US$29.4 billion. He is the senior advisor for CK Hutchison Holdings, after he retired from the Chairman of the Board in May 2018; through it, he is the world’s leading port investor, developer, and operator of the largest health and beauty retailer in Asia and Europe. Li was one of the most influential entrepreneurs in Asia, presiding over a business empire with a diverse portfolio of businesses from a wide array of industries, including transportation, real estate, financial services, retail, and energy and utilities. His conglomerate company Cheung Kong Holdings was influential in many sectors of the Hong Kong economy and made up 4% of the aggregate market capitalisation of the Hong Kong Stock Exchange. Forbes Magazine and the Forbes family honoured Li Ka-shing with the first ever Malcolm S. Forbes L...

Americans love shrimp, but what about faux shrimp? Tyson Ventures, the venture capital fund owned by Tyson Foods, announced an investment in San Francisco-based  New Wave Foods , a female-founded startup that makes plant-based shrimp. Tyson Foods did not disclose the amount of this investment or any other details about the deal. “We’re excited about this investment in the fast-growing segment of the plant-based protein market,” said Amy Tu, president of Tyson Ventures . “This continues our focus of identifying and investing in companies with disruptive products and breakthrough technologies related to our core business so we can continue to serve a growing global population.” New Wave’s product is based on co-founder and Chief Technology Officer Michelle Wolf’s collaboration with a research and development team that included leading food scientists and academics. The company’s first offering, a plant-based shrimp, is made with sustainably sourced seaweed and plant protein a...