Liu Yiqian, a billionaire industrialist and art collector. ‘The message to the West is clear: We have bought their buildings, we have bought their companies, and now we are going to buy their art.’ Photograph: Sim Chi Yin/New York Times

Even as the cost of his quarry pulled away from the $100 (€93) million mark, Liu Yiqian remained calm. “I was on the phone with a girl from Christie’s(...)

Square chief executive Jack Dorsey. The company priced its shares at $9, resulting in a valuation significantly less than the $6 billion it was valued at in its last private fundraising round. Photograph: Mike Blake/Files/Reuters

Mobile payments company Square is set to make its debut on the stock market, with its $9 shares priced at 25 per cent less than it had hoped. The com(...)

Building materials group CRH gained 1.54% to close at €24.685 on trades totalling more than 800,000 shares

Markets surged yesterday after European Central Bank (ECB) president Mario Draghi signalled that its stimulus programme would continue well into next (...)

 Bono gestures launches the Red Product Line to Help the Global Fund to Fight AIDS, Tuberculosis and Malaria at the World Economic Forum in Davos, Switzerland in  2006. Photograph: AP Photo/Michel Euler

As U2 prepare for their first indoor tour for a decade, and the first live action since Bono’s serious bike accident in New York a year ago, is it tim(...)

The fact that Visa has chosen to invest in Stripe, not in PayPal, is seen to have huge significance

Stripe, the online payment processing company established by Irish brothers Patrick and John Collison, is now valued at $5 billion after raising new f(...)

UnionPay: its days of domination may be under threat after a complaint in 2012 by the United States to the World Trade Organisation

The Chinese payment system UnionPay, operated by the People’s Bank of China and owned by the about 85 domestic banks, which dominates the credit card (...)

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York. Photograph: REUTERS/Lucas Jackson

Disappointing earnings results from corporate bellwethers weighed on equity prices in Europe and on Wall Street yesterday. European equities fell in (...)

The biggest share price gains for Visa and MasterCard over the past year have come in response to Chinese government policies that open the local payment card market to foreign players.  Photograph: Simon Dawson/Bloomberg

Global bank card operators including Visa and MasterCard can seek licences to clear domestic Chinese payments starting today, following a long-running(...)

American Express has slid the most in the Dow Jones Industrial Average since December 31st after setbacks including the end of the company’s partnership with warehouse-club chain Costco and a ruling by a federal judge that its policies prohibiting merchants from steering customers to cheaper cards violated antitrust laws.

American Express’s short-term stock results have been “disappointing,” as the company faces a variety of issues including the loss of its biggest reta(...)

US president Barack Obama (left) is interviewed during a taping of the “Late Show with David Letterman” in New York. Photograph: Jonathan Ernst/Reuters

Following a week of racially charged protests in Baltimore, US president Barack Obama has said that the residual effects of racism have built up over (...)