“It sucks,” says Mike Mayo. One of the more visible Wall Street analysts, Mr Mayo lost his job last week when CLSA, the Chinese-owned broker which had employed him, abruptly shuttered its US research operations. At 4.15pm last Monday, as Mr Mayo tells it, he was summoned to an all-hands meeting. At 4.20pm he and 89 others were let go. He went to FedEx to buy nine […]
A joint venture led by Qualcomm and the Brazilian government will see the launch of a semiconductors factory producing high-complexity equipment. The consortium, which also includes semiconductor manufacturing firm ASE Group, is predicted to make a total investment of $200m in the initiative. The memorandum of understanding on the project was signed by the companies and the Brazilian Social Economic Development Bank (BNDES) on Wednesday (8). Exact […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. Nonfarm payrolls increased by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the […]
Risky US corporate bond funds suffered the largest weekly redemptions since the US election in November, as oil prices settled at their lowest level since December and benchmark stock indices slipped from record highs. The high-yield corporate bond asset class, which is comprised of speculative-rated groups judged more likely to default than their investment-grade peers, recorded outflows of roughly $2.8bn in the week to March 8, according […]
Saudi Arabian corporate earnings may finally have bottomed out after two years of falls due to low oil prices and the government austerity which followed, with the petrochemicals sector leading signs of recovery. But a sharp rebound is unlikely for companies in the Middle East’s biggest economy as further austerity looms and they are competing for customers who are no longer flush with cash. Analysts say stronger […]
Think to log in, please. Credit: Syda Productions/Shutterstock Biometrics – technology that can recognise individuals based on physical and behavioural traits such as their faces, voices or fingerprints – are becoming increasingly important to combat financial fraud and security threats. This is because traditional approaches, such as those based on PIN numbers or passwords, are proving too easily compromised. For example, Barclays has introduced TouchID, whereby customers […]
It has been nearly seven years but investors are finally beginning to focus on the prospect of a tightening in monetary policy for the eurozone. A subtle shift in the signalling from European Central Bank president Mario Draghi this week has pushed up the probability of a December 2017 rate rise to more than 50 per cent from just odds of a tenth at the start of […]
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By Kentaro Hamada and Makiko Yamazaki | TOKYO TOKYO The Japanese government, fretting over the future of Toshiba Corp’s flagship memory chips unit, is prepared to block a sale to bidders it deems a risk to national security, sources said, a stance that gives U.S. suitors a major advantage. The government would use Japan’s foreign exchange and foreign trade laws to control the auction if need be, […]
Kuala Lumpur, 10 March 2017 Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced its RM2.2 billion equivalent dual currency issuance, comprising a 5-year RM2.0 billion Conventional Medium Term Notes (CMTN) which was issued under Cagamas’ existing RM40 billion Medium Term Notes Programme and a 1-year SGD50 million Sukuk. The issuance was issued through the Company’s wholly-owned subsidiary, Cagamas Global Sukuk Berhad under […]
The US government’s benchmark borrowing costs remained above 2.6 per cent on Friday as investors anticipated robust US employment data ahead of a likely Federal Reserve interest rate increase next week. The benchmark 10-year yield — one of the most widely followed interest rates in the global economy — was at 2.61 per cent by early in London, its highest level since December and up from below […]
KADUNA, Nigeria Nigerian President Muhammadu Buhari returned home on Friday after nearly two months of medical leave in Britain, state television and a Reuters witness said. Buhari, 74, walked unaided from his plane after it landed at an air force base in the northern city of Kaduna. The former military ruler then boarded a waiting helicopter, state television showed. Details of his condition have not been disclosed. […]
Your daily guide to community and cultural activities across the Emirates for March 10, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Aarti Jhurani rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Nationwide New film Badrinath Ki […]
Mario Draghi has declared victory against deflation and moved a step towards ending the European Central Bank’s ultra loose monetary policy, sending the euro and German bond yields higher as investors bet on the end of crisis-era stimulus measures. Facing growing pressure from monetary hawks in Germany, the ECB president said the bank decided to change its guidance to investors — omitting a reference to using all […]
Friday 06:00 GMT Overview Asian markets were broadly positive on Friday as South Korea’s president was formally impeached, while Treasuries remained under pressure ahead of the US jobs report that could fuel expectations the Federal Reserve will raise interest rates next week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 20 points to 7,335 and Germany’s Dax to climb […]
Via Jim Quinn of The Burning Platform blog, In Part One and Part Two of this article I revealed how the Deep State’s fake data and fake news propaganda machine can be overcome by opening your eyes, observing reality, understanding how Fed created inflation has destroyed our lives, and why the election of Trump was the initial deplorable pushback to Deep State evil. “The notion that a […]
By Shinichi Saoshiro | TOKYO TOKYO Asian stocks edged up and the dollar rose to 1-1/2-month highs versus the yen on Friday, ahead of the closely-watched U.S. non-farm payrolls report due later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent, taking cues from a modest bounce in Wall Street overnight. Japan’s Nikkei climbed more than 1 percent on the back of […]
Nigeria’s telecoms regulator and central bank governor intervened on Thursday to try to help Etisalat Nigeria resolve debt restructuring talks with its lenders, after the company missed a payment on a $1.2 billion loan. A banking source told Reuters on Wednesday that the Nigerian affiliate of Abu Dhabi-listed telecoms company Etisalat had given notice to its Nigerian lenders that it would miss a payment in February. Debt […]
Viva Republica CEO SG Lee Image: Viva Republica Viva Republica, maker of peer-to-peer money transfer app Toss, announced that it has raised $48 million in a Series C round led by San Mateo-based VC firm Goodwater Capital, with PayPal, Bessemer Venture Partners, Altos Ventures, and Partech Ventures also contributing to the round. The latest funding round brings the total amount raised by the Seoul-based company to 87.5 […]
RBC is the first Canadian bank to publicly confirm it has severed ties with customers identified in the Panama Papers leak. (Randy Risling / Toronto Star) | Order this photo The Royal Bank of Canada has closed dozens of accounts linked to the Panama Papers, becoming the first Canadian bank to publicly confirm it has severed ties with customers identified in the leak. The admission came some 10 […]
By Alexandra Ulmer | CARACAS CARACAS A World Bank tribunal order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp (XOM.N) over nationalizations has been annulled, a lawyer for the government said on Thursday. “We were confident all along that our position was correct and are very pleased that the annulment committee agreed,” Venezuela’s lawyer George Kahale told Reuters by email. There was no […]
By Leigh Thomas and Sudip Kar-Gupta | PARIS PARIS Centrist Emmanuel Macron saw his position as favourite to win France’s presidential election boosted on Thursday in two polls, with one showing him ahead of far-right leader Marine Le Pen in the first round of the two-stage contest. A monthly Cevipof survey, considered the most authoritative because it has a far bigger sample size than most polls, put […]
AIG is on the hunt for its seventh chief executive since 2005 after shareholder pressure in the wake of a $3bn quarterly loss prompted Peter Hancock to stand aside from the helm of the second-biggest US insurer by market value. Just a day after AIG directors held a board meeting to discuss his future, the company said on Thursday that the 58-year-old planned to resign. The former JPMorgan banker has struggled to return AIG […]
Photo Palestinians waiting for travel permits to cross into Egypt through the Rafah border crossing this week. In an effort to improve relations with the Egyptian government a new Hamas document would declare that the group is not a part of the Muslim Brotherhood. Credit Said Khatib/Agence France-Presse — Getty Images CAIRO — Hamas, the Palestinian Islamist group that has governed the Gaza Strip for a decade, […]
