Word: billioned
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...Less than two years later, Li Ning the company is still soaring. In March, Li Ning Co. reported a more than 30% rise in profit in 2009. Li Ning started his sportswear company in 1990, building it into a giant, with 2009 sales considerably more than $1 billion. With 7,249 branded stores in China, Li Ning has surpassed Adidas to become the No. 2 sports-apparel company in the country. Unlike an Adidas or a Nike, 99% of Li Ning's revenue comes from within China. But this won't be the case for long. Li Ning has signed...
...tycoon leaped back into the Olympic spotlight - literally - during the opening ceremony at the 2008 Beijing Games. Suspended by cables, Li soared into the air and ran a slow-motion aerial lap around the Bird's Nest before lighting the Olympic cauldron in front of an estimated 4 billion television viewers - much to the annoyance of Adidas, which had spent some $80 million to sponsor the Games. (See pictures of the Beijing Olympics opening ceremonies...
When you're staring at a $250 billion budget deficit for the year, a fresh tax or two can come in handy. And if unpopular banks are the targets, better still. Few of Britain's voters will quibble with Alistair Darling's call Wednesday, March 24, for a global tax on banks to help recover the billions in public funds doled out during the crisis. "We intend to get all taxpayers' money back," the Chancellor of the Exchequer said during his budget speech to Parliament, his last before a general election expected in May. Charging banks to help do that...
...global financial blowout are gaining momentum. German officials announced plans Monday, March 22, to start taxing banks as a way of squirreling funds for any future bailouts, with details expected to come before the end of the month. U.S. President Barack Obama unveiled proposals in January for a $90 billion bank tax designed to recoup public money used to shore up the nation's lenders. No-nonsense Sweden, meanwhile, has already implemented its own version. But amid this consensus on the need to charge banks, doubts over the merit of the schemes remain. (See pictures of the global financial crisis...
...measure was intended to prod consumers to conserve energy and invest in greener cars and insulation, and raise $4.7 billion to $6.1 billion in new annual revenues to finance state-funded ecological investments. But what voters and rightist parliamentarians saw in it was one of the most visible examples of Sarkozy doing the opposite of what he'd promised when running for the presidency - and in this case, creating new taxes rather than cutting and eliminating as pledged. "Up till now, Sarkozy has led by saying 'I believe and I have decided,' and he's now being forced to modify...