A Barclays report on wealthy individuals worldwide notes that 47 percent of rich Chinese intend to move abroad in the next five years
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The Consumer Financial Protection Bureau is suing Corinthian, a for-profit college operator, alleging abusive debt collection and deception
A report finds high default rates on franchise loans
For many Chinese entrepreneurs, Ma is a hero. A former school teacher, Ma, 43, is the founder and CEO of the Alibaba Group, China's premier e-commerce player. The company, headquartered in Ma's hometown, the eastern Chinese city of Hangzhou, controls Yahoo China and Taobao, the country's top consumer Web site. The flagship of the group is Alibaba.com, a business-to-business service that connects small and midsized importers and exporters in China with counterparts worldwide. Ma successfully guided Alibaba's $1.5 billion Hong Kong initial private offering last November and is now using that cash pile to expand into new markets in Japan, India, and Korea.