When the next Forbes billionaires list is released, 32 new names will be on it. And while most hail from the sort of countries you'd expect -- the United States, China, EU nations -- a half dozen made their fortunes in more surprising places.
Wal-Mart, the world's biggest retailer, can go ahead with its 17 billion rand ($2.2 billion) purchase of a controlling share of a South African chain, a South African regulatory appeals body said Friday. The Competition Appeal Court upheld a ruling last year by the Competition Tribunal, the government agency charged with promoting competition and protecting consumers.
Major League Baseball's worldwide spread is facing slow going in China and Africa. But America's favorite pastime is working hard to find friends in both areas, starting with footholds in Taiwan and South Africa. MLB is clearly keeping its eye on the ball overseas.
The U.S. finds itself on the wrong side of the currency manipulation argument this week, as many G20 countries criticize the Fed's $600 billion bond buying plan, which could further devalue the dollar. World leaders say the move breaks the vow of unity made during the last G-20 summit.
China's TenCent is one of the world's largest pure-play Internet companies, and its shares are sizzling. But for a stealthy way to invest in TenCent at a major discount, buy South African media giant Naspers.
It's called the vuvuzela (pronounced vu-vu-ZEL-uh) and it has swarmed into the spotlight of the 2010 FIFA World Cup. The tournament kicked off a few days ago, introducing the world to a plastic horn capable of reaching 127 decibels.
South Africa has some lofty expectations about the boost the World Cup will bring to its economy. Economists are skeptical that the soccer tournament will live up to those expectations and history shows that it most likely will not.
