Fox Business - The Power to Prosper
Search Site

Premier Wen Jiabao

Chinese recycling tycoon says he wants to buy the New York Times

An eccentric Chinese recycling magnate said on Tuesday he was preparing to open negotiations to buy the New York Times Co..Chen Guangbiao, a well-known philanthropist, is something of a celebrity in China. During a particularly murky bout of pollution in January, the ebullient and tireless self-promoter handed out free cans of "fresh air".But Chen says he is perfectly serious in his bid to buy the Times, which he said he had been contemplating for more than two years. He said he expected to discuss the matter on January 5, when he is due to meet a "leading shareholder" in New York."There's nothing that can't be bought for the right price," Chen told Reuters.It is unlikely that the Times, which has long been controlled by the Ochs-Sulzberger family, would sell to Chen.A spokeswoman for the New York Times, contacted after initial Chinese media reports about Chen's offer, said the company did not comment on rumors.The company's chairman, Arthur Sulzberger, Jr., said recently that the Time...

Read More

  1. China politics keep central bank hawks at bay, for now

    Intense lobbying by central government agencies and debt-laden local governments is keeping People's Bank of China hawks in check after inflation jumped to a 10-mont...

  2. China February CPI up 3.2 percent on year as food prices jump

    China's annual inflation jumped to a 10-month high in February as holiday spending for the Lunar New Year drove food prices sharply higher, data from the National Bu...

  3. PBOC Says High M2-to-GDP Ratio Shows Risk

    The high ratio of money supply to gross domestic product in China means risks are excessively concentrated in the banking sector, according to a top official.This de...

  4. China Policy Makers Signal Plans to Tighten Monetary Policy

    Chinese policy makers sent signals that Beijing is preparing to tighten monetary policy, as inflation risks rise along with a recovering economy.At the annual meetin...

  5. U.S. Stock Futures Rally; Dow Set To Open Above Record High

    With the Dow Jones Industrial Average closing in on an all-time high, U.S. stock futures pointed to an opening above the record closing level, following strong retai...

  6. Banks Lead China Shares Higher; Recover From Monday's Slide

    Banks led China's shares to end higher Tuesday, erasing part of the losses from the previous session triggered by fresh housing-market tightening measures.The benchm...

  7. ASIA MARKETS: China Stocks Stage Strong Bounce, Lead Asia Gains

    Asian markets rebounded Tuesday as a higher finish on Wall Street attracted buyers a day after most regional equities suffered a sell-off, with Japanese stocks exten...

  8. ASIA MARKETS: China Stocks Rebound Strongly; Japan Adds To Gains

    Asian markets rebounded Tuesday as a higher finish on Wall Street helped sentiment a day after most regional equities suffered a sell-off, with Japanese stocks exten...

  9. ASIA MARKETS: Japan Stocks Add To Gains; China Rebounds

    Asian markets rebounded Tuesday as a higher finish on Wall Street helped sentiment a day after most regional equities suffered a sell-off, with Japanese stocks exten...

  10. MARKET COMMENT: China Shares Open Up; Shanghai To Stay Near 2250

    0158 GMT [Dow Jones] China shares open slightly higher led by heavyweight banks. The Shanghai Index is up 0.1% at 2275.21 after losing 3.7% Monday, and is expected t...

  11. China Sets 2013 GDP Target At 7.5%: Reports

    China has set its gross domestic product target at 7.5% for 2013, according to reports from the region. The target, to be announced in a government work report by Pr...

  12. ASIA MARKETS: Property Stocks Sink Shanghai, Support Tokyo

    Mainland Chinese stocks suffered their worst drop in several months on Monday as property and construction-related sectors got slammed after Beijing imposed fresh me...

  1. Chinese Recycling Tycoon Wants to Buy NYT for $1B

    An eccentric Chinese recycling magnate said on Tuesday he was preparing to open negotiations to buy the New York Times Co..Chen Guangbiao, a well-known philanthropis...

  2. China seeks to boost trade with ex-communist Europe

    China wants to double trading volumes with central and eastern members of the European Union in the next five years, Li Keqiang said on his first visit to the former...

  3. China May Lift Ban on Facebook, Twitter: Report

    After years of being blocked in mainland China, Facebook (NASDAQ:FB) and Twitter may be partially accessible in a section of Shanghai beginning this Friday, accordin...

  4. JPM China Probe Sends Chills Through Investment Banks

    A U.S. banking regulator's probe into JPMorgan's <(NYSE:JPM) hiring practices in China will have rival banks scrambling to review their own records, lawyers say, in ...

  5. With big-name backers, Chinese firm eyes Smithfield's know-how, brands

    In three decades, Wan Long has turned Shuanghui International Holdings from a small, loss-making meat processor into China's largest, and is making his country's big...

  6. Iceland Signals Deeper Ties with China

    Iceland's foreign minister signaled deeper cooperation with China on commerce and offshore exploration following the signing of the first free-trade pact between the...

  7. Exclusive: Princeling-backed firm eyes $500 million China buyout fund - sources

    Nepoch Capital, a new private equity firm founded by the son of a former member of China's politburo, has launched the first 'princeling' fundraising since the new g...

‹ Prev12345Next ›
Freebase CC-BY
Source: Premier Wen Jiabao on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL