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From Bloomberg: Zong Qinghou, head of China’s third- largest beverage maker, is the country’s richest man after disclosing his stake in closely held Hangzhou Wahaha Group Co. is more than double previous estimates. The 66-year-old soda and juice tycoon owns more than 80 percent of Wahaha, the company’s spokesman Shan Qining said in an interview on Sept. 3. That stake elevates Zong’s net worth to $21.6 billion, according to the Bloomberg Billionaires Index. He is now [...] It was only a matter of time before the next bank bailout began despite all those promises to the contrary. Sure enough, as math always wins over rhetoric and policy, earlier this morning the shot across the Spanish bow was fired after PM Rajoy did a 180 on “no bank bailout” promises as recent as last week. From Dow Jones: “Spain may pump public funds into its banking system to [...] |
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