Investors in Fiat, the carmaker under investigation for violating emissions laws, have been accused of ignoring clear signs of corporate governance failings at the Italian-US business. Fiat Chrysler’s share price fell 16 per cent on Thursday immediately after the US environmental watchdog warned the company could face a fine of up to $4.6bn. It is accused of breaking emissions laws in 104,000 diesel vehicles. The US regulator […]
ADEN: At least 26 Yemeni fighters died in fresh clashes and an air strike as government forces advanced against Shiite Houthi rebels near a key shipping strait, medics and officials said Saturday.A week-long assault by government forces and their allies aims to expel the Iran-backed Houthis from Dhubab region, close to the Bab Al-Mandab strait linking the Red Sea and Indian Ocean.Twelve bodies of Houthi insurgents were […]
SpaceX put its first rocket back into space on Saturday since a spectacular launch pad explosion halted operations more than four months ago at the private US space company founded by billionaire Elon Musk. The Falcon 9 rocket lifted off from Vandenberg Air Force base on the southern California coast, taking 10 one-ton satellites into space for communications company Iridium. Investigators were left scratching their heads for […]
Dubai’s biggest bank, Emirates NBD, has expanded its disability-friendly branch network to include the Hamriya, Rashidya and Al Aweer branches, in addition to the Jumeirah and Jumeirah Emirates Towers branches. The bank said in a statement that it has also implemented the distribution of Braille currency in its Jumeirah branch for customers with vision disabilities. It added that it “will remain committed” to enabling financial inclusion for […]
|By Saifur Rahman|Dubai added 26,707 new companies last year to the existing 107,043 trade licenses, reflecting strong investor confidence in the emirate, the Department of Economic Development, Dubai’s trade licensing authority, said in a statement. “The number of licenses renewed in 2016 was 107,043 while 20,873 initial approvals were issued and 38,918 trade names were reserved,” the statement said. This means Dubai now has 133,750 companies active […]
There is no guarantee that all will go according to plan, of course. Israel struggled for years to develop regulations to manage its newfound wealth. The international energy firms that Israel is now courting have other options in an evolving global market. And the politics of a new era, as President-elect Donald J. Trump encourages assertive Israeli action in Jerusalem and the West Bank, could kindle fresh […]
Submitted by Gavin McInnes via TakiMag.com, Fake news site Buzzfeed just published a fake news story that is so fake, it’s not even fake news. “It’s just fake,” as Kellyanne Conway put it. The editor of Buzzfeed himself says he has “serious reason to doubt the allegations in it,” but he published it anyway because this is “how we see the job of reporters in 2017.” So, […]
Minister Without Portfolio Konrad Mizzi. Photo: Chris Sant Fournier During the year just ended the Labour government continued to dig itself deeper into a culture of institutionalised corruption with persons occupying high government positions and those close to them partaking of the fruits of a corrupt system. A perfect example was the scandal revealed last year by leaked secret files where then health and energy minister Konrad Mizzi […]
The Saudi-based Islamic Development Bank (IDB) has agreed to loan the Kyrgyz Republic $20 million to finance a rural water supply and sanitation improvement project. The funding will help the Kyrgyz Republic to improve access and quality of water supply in targeted rural communities, improve sanitation services primarily in schools, and health centres in selected villages and strengthen capacity of institutions in the water supply and sanitation […]
By Paul Lienert and David Shepardson | DETROIT/WASHINGTON DETROIT/WASHINGTON Japan’s Takata Corp (7312.T) on Friday agreed to plead guilty to criminal wrongdoing and to pay $1 billion to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide. The deal was announced hours after prosecutors in Detroit charged three former senior Takata executives with falsifying test results […]
A border tax in the US could upend the export-based economic model that has brought prosperity to millions of people in Asia, say analysts, as the region wakes up to reforms proposed by Republicans in Congress. Although most attention is still focused on whether president-elect Donald Trump will slap tariffs on China or target companies that move production offshore, proposals for a US tax regime that penalises […]
By Sinead Carew and Lewis Krauskopf | NEW YORK NEW YORK U.S. bank stocks will stay in favor with investors as long as earnings reports in the coming week show an improving profit outlook while investors wait to see if U.S. President-elect Donald Trump lives up to his campaign promises. Wells Fargo & Co. (WFC.N), JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) kicked off […]
Wells Fargo has laid down plans to close at least 400 branches over the next two years as part of a push to cut costs as the US bank tries to recover from the scandal over sham accounts. The San Francisco-based lender, which operates more than 6,000 branches across the country, is accelerating closures as it aims to reduce about $2bn in expenses by the end of […]
By Karen Freifeld | NEW YORK NEW YORK Moody’s Corp (MCO.N) has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Friday. The credit rating agency reached the deal with the Justice Department, 21 states and the District of Columbia, […]
Investors have returned to the world of debt in a cooling of the Trumpflation trade that pummelled bond markets and propelled equities to record highs after the US election. The shift, which has included fresh inflows to municipal, Treasury and emerging market bond funds over the past week, dovetails with a near month-long rally in haven US Treasuries and fatigue in benchmark stock indices. Municipal funds, which […]
The cuckery has reached a fevered pitch and the democratic party, in what can only be construed as a traumatic emotional breakdown on an institutional level, are throwing the gauntlet down here and now by sending out the so called ‘spiritual center’ of the party, Congressman John Lewis — declaring Trump ‘illegitimate’ because (wait for it) MUH RUSSIANS. It has been an absolute blitzkrieg of U.S. intelligence […]
Qatar is regaining its appetite for deals. In the past two months alone, the world’s richest country per capita invested in Turkey’s biggest poultry producer, Russian oil giant Rosneft PJSC, and U.K. gas company National Grid Plc. The investments have been made through the Qatar Investment Authority, created in 2005 to handle the country’s windfall from liquefied natural gas sales, of which it is the world’s biggest exporter. […]
Rainfall records are being broken in the San Francisco Bay Area: six inches since the start of the year, the most since 1982. Local drivers react by randomly deploying wipers, brakes and lights; it is no surprise that autonomous cars are being developed here. Other Silicon Valley records look equally hazardous. The technology-dominated Nasdaq Composite index has set further highs this week and stands more than 10 […]
An increase in Facebook pushed the Nasdaq to a record high on Friday, and the S&P 500 also rose after major U.S. banks kicked off the fourth-quarter earnings season with strong results. Wall Street has surged since President-elect Trump’s unexpected election victory on optimism he will cut corporate taxes, spend on infrastructure and deregulate banks. With stocks trading at price-to-earnings valuations well above historical averages, many investors […]
Citadel Securities, one of the largest traders on the US equity market, has agreed to pay $22.6m with US markets regulators to settle charges it misled customers over the prices they were getting for some of their deals. The Securities and Exchange Commission said on Friday that two of the algorithms Citadel used to execute orders on behalf of retail investors had not sought to obtain the […]
Rex Tillerson, the former Exxon chief, didn’t get where he is by being nice to China. When Beijing tried to force his company to abandon a gas exploration project in the waters off Vietnam in 2008, ExxonMobil showed it the finger. BP, Chevron, ConocoPhillips, and several others caved to Chinese pressure. ExxonMobil is still there, drilling on a Vietnamese license in waters also claimed by China. Is […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. A Detroit cop who used Facebook to refer to city residents as “garbage” and came pretty close to bragging about police brutality has retired, the city’s police chief announced Thursday. And at the heart of it all is a single […]
By Jonathan Stempel | NEW HAVEN, Conn. NEW HAVEN, Conn. A former Jefferies Group Inc bond trader being tried a second time for defrauding clients about prices of mortgage bonds should be convicted because he lied repeatedly to his own customers to boost profits, a U.S. prosecutor argued on Friday. Jesse Litvak, 42, was “motivated by greed,” and it was no excuse that other traders might have […]
A trading surge powered by Donald Trump’s victory has helped two of the three biggest US banks boost quarterly profits, fuelling hopes Wall Street can extend its post-election resurgence. JPMorgan Chase’s trading business, the largest in the world by revenues, produced its best ever fourth-quarter. Net income jumped 96 per cent from a year earlier to $3.43bn. At Bank of America’s global markets business, net income soared […]
