Xanxus Tan

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The commodities empire of Brazil’s richest man looks a bit shaky

Flamboyant Brazilian commodities billionaire Eike Batista’s (paywall) empire is under assault.<p>The latest blow was Monday’s announcement that his oil company would probably close its only productive wells next year (paywall).<p>OGX is one of the six publicly-listed corporations he runs through his …

Major U.S. Weapons Compromised By Chinese Hackers, Report Warns

A previously undisclosed portion of a U.S. Defense report lists the specific weapons system designs that it says have been at least partially …

Apple Has Several More Game-Changing Ideas, Says CEO Tim Cook

It's been over three years since the iPad, and Apple has yet to release its next mind-melting product.<p>This is a pretty unfair charge for Apple, since it revolutionized the mobile market with the iPhone and the PC market with the iPad.<p>It's hard for any company to just crank out one product that …

Wal-Mart fined for dumping hazardous waste in US

<b>Wal-Mart has agreed to pay $82m (£54m) in civil and criminal charges after pleading guilty to dumping hazardous waste in California and Missouri.</b><p>The retailer admitted to violating environmental regulations after illegally disposing of fertiliser, pesticides and bleach.<p>Prosecutors said employees had …

Chinese hackers reportedly accessed designs for advanced US weapons systems

According to the <i>Washington Post</i>, which has seen a confidential section of a report prepared by the Defense Science Board for the Pentagon, the designs for more than two dozen advanced US weapons systems were accessed by Chinese hackers. The public version of the report, titled "Resilient Military …

Why millionaire investors are holding cash

Despite feeling financially secure and confident about their fiscal future, the wealthy are still holding mountains of cash rather than investing it.<p>Today's wealthy investors seem to have split personalities.<p>A part of them brims with confidence and optimism. Survey after survey shows that they are …