tycoons

Tycoon’s Wild $3 Billion Gamble on ‘China’s LVMH’ Crashes

by

(Bloomberg) — Six years ago, a little-known textile maker called Shandong Ruyi Group embarked on a frantic acquisition spree with the goal of becoming China’s version of luxury powerhouse LVMH. Most Read from Bloomberg Based in the hometown of Confucius, Chairman Qiu Yafu spent more than $3 billion snapping up assets from the boulevards of … Read more

Indian mining tycoon’s tale of woe in South America’s ‘Switzerland’

by

Uruguay sells itself to investors as the Switzerland of Latin America. Many business people hail it as a beacon of sound government in a region beset by corruption and turmoil. Indian mining tycoon Pramod Agarwal describes that reputation as “eyewash”. His decade-long attempt to develop a world-class iron ore mine in the South American beef-exporting … Read more