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China’s Richest 2019: Growing Consumer Appetite Boosts Fortunes Of Nation’s Wealthiest

This story is part of Forbes’ coverage of China’s Richest 2019.

The headlines from China in the past year have been gloomy. Trade friction with the U.S. has risen, while GDP growth in the world’s second-largest economy slowed to a near three-decade low of 6%. Happily for the country’s wealthiest, however, there’s more good news than bad among the members of our list of China’s richest.

The total wealth of the 400 members of the China Rich List rose by more than a fifth from a year ago, to $1.29 trillion, as China’s consumers spent more on everything and spent more of it online. More than half the listees saw their fortunes climb in the past year, while a quarter saw their fortunes fall. The minimum net worth needed to make the list this year was $1 billion, back … Read More

Dartmouth Tuck Loses Its Admissions Chief

Luke Anthony Peña, executive director of admissions and financial aid at Dartmouth Tuck School of Business, will leave that position on September 18 to return to Stanford University, where he served as director of MBA admissions at the Graduate School of Business from 2012 to 2017.

An economic recession and severe application downturn were only the opening acts of the turbulent era during which Luke Anthony Peña served as executive director of MBA admissions and financial aid at the Dartmouth College Tuck School of Business. Then coronavirus hit. Yet as Peña prepares to leave the Tuck School this month after just three years, he leaves behind a B-school with as strong an incoming MBA class in key metrics as any in recent history — and one that also makes history with the proportion of women enrolled.

In a move announced to the school community last Friday (August 28),

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Anti-California dream creates booming business opportunities

In recent years, the number of Californians leaving the Golden State has exceeded the number of new residents moving in, and the mass exodus has created business opportunities for companies offering to help disillusioned residents settle elsewhere in the United States.

Two of those companies are and, started by Scott Fuller, a real estate broker now residing in Arizona. Fuller told Fox Business that he got the ideas for these companies by working with a lot of clients who were “getting fed up and tired of what’s happening in California.”

A for sale sign stands in front of a house, Tuesday, Oct. 6, 2020, in Westwood, Mass.  (AP)

He said he started the companies to provide services to people who were “looking to relocate but were overwhelmed with the task,

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Huawei exits Australia sponsorship deal over ‘negative business environment’

Embattled Chinese telco Huawei exited its main sponsorship deal with rugby league’s Canberra Raiders Monday, citing a “negative business environment” after Australia blocked the company from its 5G wireless networks.

The Raiders were the tech giant’s first large-scale sporting sponsorship worldwide and they have backed the club for almost a decade, with their logo and name on the front of the playing kit.

But Huawei said in a statement that the “continued negative business environment is having a larger than originally forecasted impact on our planned revenue stream”, in explaining its decision to terminate the deal a year early.

“It is so disappointing that it has ended this way but are very proud of the small role we have played in this great NRL (National Rugby League) club,” Huawei Australia’s corporate affairs chief Jeremy Mitchell said.

“Our near decade as major sponsor of the Raiders has been one of the

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