Business
Stock Market Hits Record High as Dollar Weakens – SUCH TV
At the start of the business week, the Pakistan Stock Exchange (PSX) witnessed a market recovery following an earlier decline.
By the third day of trading, the market showed a mixed trend, with initial losses giving way to a positive rally.
As a result, the PSX once again surpassed the 157,000-point milestone.
The KSE-100 index gained 555 points, closing at 157,120 points.
During intraday trading, however, the market also experienced a dip of 484 points.
At the close of the previous trading day, the stock market had ended at a record level of 156,563 points.
Business
Former Milwaukee Bucks owner Marc Lasry says he doesn’t believe L.A. Clippers owner Steve Ballmer circumvented salary cap
Former Milwaukee Bucks co-owner Marc Lasry said he doesn’t believe L.A. Clippers owner Steve Ballmer attempted to circumvent the NBA’s salary cap by working with a third-party company to surreptitiously pay superstar Kawhi Leonard in 2021
“It’s not something I would ever believe,” Lasry told CNBC in an exclusive interview. “I’ve always found him to follow the rules and do what’s right.”
Journalist and podcast host Pablo Torre reported earlier this month that Leonard had signed a $28 million sponsorship deal with a company called Aspiration. The deal required the NBA forward to do almost nothing with Aspiration to collect the money.
Ballmer invested $50 million in Aspiration. Torre reported that sources from within Aspiration told him the purpose of the deal was for the Clippers to circumvent the league’s salary cap by paying Leonard more money off the books. The NBA has begun an investigation based on his reporting.
Lasry said there’s always pressure to win in the NBA, but “there’s not pressure to skirt the rules.”
“In the NBA, everybody knows the rules. You follow it, and it’s because you know that if you don’t, you’re just going to get in a lot of trouble,” he said.
Ballmer and the Clippers have denied the allegations of salary cap circumvention. Aspiration filed for bankruptcy earlier this year and its co-founders have been charged with fraud.
“I think it’s probably a lot of smoke, but I don’t think there’s much there,” said Lasry.
Lasry agreed to sell his stake in the Bucks in 2023 to Cleveland Browns owners Jimmy and Dee Haslam at a $3.5 billion valuation.
Business
Oracle’s Larry Ellison Overtakes Elon Musk To Become World’s Richest After $101 Billion Gain
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Larry Ellison surpasses Elon Musk as the world’s richest person with a $393 billion net worth after Oracle’s record-breaking quarterly performance.
Oracle founder Larry Ellison. (File)
Larry Ellison, the founder of Oracle, has surpassed Tesla CEO Elon Musk to become the world’s richest person with a net worth of $393 billion.
As per the Bloomberg report, Oracle’s Chief Technology Officer (CTO) saw his wealth increase by $101 billion following Oracle Corporation’s exceptional quarterly performance.
Ellison’s net worth soared by $101 billion as of 10:10 am in New York on Wednesday, according to the Bloomberg Billionaires Index. That pushed his wealth to $393 billion, surpassing Musk at $385 billion.
The one-day increase is the largest ever recorded by the index, surpassing the $63 billion gain Elon Musk registered in December 2023.
Shares of the company jumped more than 40% in early trade on Wednesday, reaching an all-time high in their sharpest single-day rise since the dot-com boom of 1999. The company’s shares experienced a sharp rise after Oracle announced a strong growth projection on Tuesday evening. Shares of Tesla Inc., by contrast, went down 13% this year.
Ellison, 81, co-founded Oracle in 1977 and still holds around 1.16 billion shares, making him the company’s largest shareholder.
Meanwhile, Musk became the world’s richest person for the first time in 2021 before losing the title to Amazon’s Jeff Bezos and LVMH’s Bernard Arnault. He reclaimed it last year and had held it for just over 300 days.
Shobhit Gupta is a sub-editor at News18.com and covers India and International news. He is interested in day to day political affairs in India and geopolitics. He earned his BA Journalism (Hons) degree from Ben…Read More
Shobhit Gupta is a sub-editor at News18.com and covers India and International news. He is interested in day to day political affairs in India and geopolitics. He earned his BA Journalism (Hons) degree from Ben… Read More
New York, United States of America (USA)
September 10, 2025, 22:24 IST
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E-bike usage has spiked in London as commuters sought alternative ways to get around the city while strikes shut down Tube services.
Lime revealed a more than 50% jump in trips during rush hour traffic on Monday and Tuesday, rising to three-quarters by Wednesday.
It coincided with a strike by London Underground workers with thousands of members of the Rail, Maritime and Transport union (RMT) walking out during the week.
The company, which operates rental e-bikes and e-scooters in towns and cities around the world, said people had been taking longer journeys this week.
On Monday between 7am and 11am, the total number of trips taken surged by 58%, compared with the same period the previous week.
The duration of trips rose by 37% and distances increased by 24%.
Momentum continued into Tuesday, where total trips increased by 50%, while the duration surged by 41% and distance rose by 28%, compared with the same period a week ago.
By Wednesday, the number of trips had surged by 74% week-on-week, the company said.
Hal Stevenson, Lime’s UK and Ireland director of policy, said the data shows how London workers are using its bikes to “plug the gaps left by public transport”.
“Journeys were longer in both distance and duration, indicating that many riders relied on Lime for their entire commute rather than just the first or last mile,” he said.
Lime has “stepped up operations across the city” to meet the surge in demand, Mr Stevenson said.
“Our driver team has been on standby to keep vehicles in service, whether through fresh batteries or rebalancing overcrowded bays, and we are continuing to increase foot patrols in central London to keep high-demand areas clear.”
The City of London Corporation recently launched a crackdown in response to a number of complaints about e-bikes being left in unsuitable places.
The local authority said in February that more than 100 that were blocking pavements had been seized during a two-week operation.
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