A worker holds part of a pair of trousers at PT Trisula Garmindo Manufacturing in Bandung, West Java province September 17, 2013. In PT Trisula International’s hangar-sized factory outside the western Indonesian city of Bandung, hundreds of workers stitch together clothes for some of the world’s top brands. Amid the clatter and hum of their machines are hopes for a renaissance that can restore Indonesia’s place among […]
An ice storm, an email suggesting regime change and the mechanics of thinly traded futures markets have emerged as central points of contention in the market manipulation trial of one of the world’s biggest traders in financial derivatives. Donald Wilson and DRW, the trading group he leads from Chicago, are fighting civil charges they distorted the price of an interest rate futures contract. They went on trial […]
ABU DHABI // “Building nations is not complete without safeguarding heritage,” Sheikh Hazza bin Zayed told the Safeguarding Cultural Heritage Conference in the capital on Friday. The deputy chairman of Abu Dhabi Executive Council was addressing the first day of the conference, where attendees heard reports of past atrocities as a prompt to forging meaningful outcomes for the future. The conference concludes Saturday, with the adoption of […]
BEIJING Chinese President Xi Jinping told former U.S. secretary of state Henry Kissinger on Friday that China was watching U.S. politics “very closely” following the presidential election won by Republican Donald Trump. Trump lambasted China throughout the U.S. election campaign, drumming up headlines with his pledges to slap 45 percent tariffs on imported Chinese goods and to label the country a currency manipulator. A few days after […]
On the heels of Jeff Gundlach‘s “there’s going to be a buyer’s remorse period” warnings yesterday, the other ‘bond king’ has raised similar fears that the Trump rally is overdone (as are the prospects for growth behind it). Putting aside the book-talking as their bond portfolios suffer, Gross echoes Gundlach’s “Trump’s not the wizard of oz” comments, noting that the next president faces serious structural headwinds and […]
By Matthias Inverardi and Harro Ten Wolde | FRANKFURT FRANKFURT Aixtron (AIXGn.DE) will have to take action to balance income and costs, including potential job cuts, if U.S. President Barack Obama blocks its takeover by China’s Fujian Grand Chip Investment Fund (FGC). Shares in the German semiconductor equipment maker fell more than 5 percent on Friday following a report by Bloomberg, citing sources, that said Obama was […]
Good morning. Here’s our daily summary of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Since Jim VandeHei and John Harris proved most everybody to be idiots, VandeHei can only hope that reflexive suspicion of his new gambit again proves to be entrepreneurial bliss. The two journalists famously pitched the notion of an all-politics digital […]
Investors poured money into US equity funds and pulled it from European ones in a week dominated by hopes for an acceleration in US economic growth and anxiety over Italy’s referendum on constitutional reform this weekend. European equity funds lost $2bn in the week to November 30, according to data from EPFR, while US funds attracted $4.4bn. That takes the total inflow for US equity funds since […]
Zahid says all component parties should help each other out, especially during the next general election. KUALA LUMPUR: Other Barisan Nasional (BN) component parties must work as hard as Umno, says the party’s acting deputy president Ahmad Zahid Hamidi. Zahid said he had met with the presidents of BN component parties to discuss this and was confident that a “huge change” would happen soon. “I have urged […]
Coutts, the taxpayer-owned bank, provided offshore services to controversial clients including a member of the Brunei royal family accused of stealing billions from his own country, and a banker charged with assisting the sons of Egypt’s deposed president, Hosni Mubarak, in financial crime. Known as the Queen’s bank after its most famous customer, Coutts is revealed to have managed secretive tax haven structures for the Sultan of […]
By Greg Torode and Marius Zaharia | HONG KONG/SINGAPORE HONG KONG/SINGAPORE As the impounding of Singaporean troop carriers in Hong Kong exposes rising tensions between China and Singapore, the Lion City is unlikely to budge on core security interests concerning Beijing – its military relationship with Taiwan, worries over the South China Sea and its hosting of the U.S. military. Singaporean officials, retired military officers and analysts […]
By Roslan Khasawneh | SINGAPORE SINGAPORE Oil prices slipped on Friday as some investors opted to cash out after Brent touched 16-month a high on Thursday, with optimism over this week’s OPEC-Russia accord on cutting output giving way to questions on the “sticking point” of implementing the deal. International Brent crude oil futures LCOc1 were trading at $53.36 per barrel at 0446 GMT, down 58 cents, or […]
US technology shares are on track to log their worst week in seven months as investors shifted their focus to equities that will benefit from the soaring price of oil and the policies of the Trump administration. The S&P 500 technology index, a measure of large companies in the sector, has declined by 3.3 per cent since last Friday. The fall would represent the steepest drop since […]
By Ju-min Park and Kaori Kaneko | SEOUL/TOKYO SEOUL/TOKYO South Korea and Japan said on Friday they would impose new unilateral sanctions on North Korea over its nuclear and ballistic missile programmes, following a fresh U.N. Security Council resolution imposed on the reclusive country this week. North Korea has rejected the U.N. resolution, aimed at cutting Pyongyang’s annual export revenue by a quarter after its fifth and […]
The pound climbed to its highest level against the euro in almost three months after a rare public comment from the government on its strategy for leaving the EU, adding further momentum to the currency’s November rally. The pound was worth €1.1940 for the first time since September 7 after David Davis, so-called Brexit secretary, told MPs the UK would consider paying for access to the single […]
Petrochemicals companies led Gulf stock markets higher on Thursday in response to OPEC’s first agreement on output cuts to prop up oil prices since 2008 – a deal that could allow governments to ease austerity policies slightly. Expectations for the deal had already boosted oil and Gulf bourses on Wednesday, but the agreement included bigger production cuts than many analysts had expected, lifting oil prices higher on […]
ABU DHABI // Tickets for British band Coldplay’s New Year’s Eve show in Abu Dhabi have turned up online at inflated prices, barely hours after the concert sold out in record time. Fans hoping to see the band are angry that some were able to buy batches of tickets to resell for profit. General admission tickets, priced at Dh395 for the du Arena gig, were being resold […]
By Alonso Soto and Lisandra Paraguassu | BRASILIA BRASILIA Venezuela will be suspended from the Mercosur regional trade bloc as early as Friday for failing to meet membership requirements, a Brazilian official said, in the latest blow to the oil-producing country during a deep political and economic crisis. According to the official, who asked for anonymity because of the sensitivity of the issue, Mercosur understands that Venezuela […]
By Emily Stephenson and Dustin Volz | WASHINGTON WASHINGTON President-elect Donald Trump, who pledged on the campaign trail to “drain the swamp” in Washington, is staffing his on-the-ground transition teams mostly with government veterans, including ex-lobbyists, a Reuters review of publicly available information shows. Drawing heavily from former military, congressional and agency staff, he has named about 140 operatives to “landing teams” at various government departments to […]
After securing a deal to save 1,100 jobs at a Carrier plant in Indiana from being exported to Mexico, Trump is set to kick off his Midwest “Thank You Tour” with a speech there which is expected to get started around 2pm EST. As we pointed out earlier this morning, Trump’s deal reached with Carrier keeps 1,100 jobs in the U.S. in return for $700,000 in […]
By Kristina Cooke | MENLO PARK, Calif. MENLO PARK, Calif. Facebook Inc (FB.O) is working on automatically flagging offensive material in live video streams, building on a growing effort to use artificial intelligence to monitor content, said Joaquin Candela, the company’s director of applied machine learning. The social media company has been embroiled in a number of content moderation controversies this year, from facing international outcry after […]
Saxo Bank awarded multiple accolades by FX Week, Finance Magnates, HFM Asia Hedge Fund Services and Global Finance 01 December 2016 Saxo Bank, the online multi-asset trading and investment specialist, today announces that it has won Best Prime of Prime House in FX Week’s Best Banks Awards and Best Forex Broker and Best Prime of Prime/Retail Liquidity Provider in the Finance Magnates Awards. Recognized by industry experts […]
ABU DHABI // Tickets for British band Coldplay’s New Year’s Eve show in Abu Dhabi have turned up online at inflated prices, just hours after the concert sold out in record time. Fans hoping to see the four-piece play live in the capital are angry touts were able to buy batches of tickets to resell for profit. General admission tickets, at Dh395 for the du Arena gig, […]
By Jacob Gronholt-Pedersen | COPENHAGEN COPENHAGEN Maersk Line, the world’s biggest shipping company, is to buy smaller rival Hamburg Süd, joining a wave of M&A in the industry just over two months after the Danish company revealed plans to bolster its transport operations. The deal, announced by parent A.P. Moller-Maersk (MAERSKb.CO) on Thursday, is the group’s first full takeover in more than a decade and highlights a […]
