Axa chief executive Thomas Buberl has distanced himself from a bid for Generali’s German life insurance business. There has been speculation that the French group could play a part in any break-up process that would follow the possible acquisition of Generali by Italian bank Intesa Sanpaolo. However, speaking to the Financial Times on Thursday, Mr Buberl said that “buying a traditional life insurance business in Germany would […]
Russia is pressing world powers to provide Syria with billions of dollars for reconstruction to bolster its faltering efforts to resolve the Arab state’s six-year conflict. But European and Gulf states, angered by Russia’s military intervention that tilted the war in favour of President Bashar al-Assad, will only contribute if Moscow secures a peace settlement that sets the terms for an eventual political transition, western diplomats say. […]
The documents’ detailed account of Mr. Awlaki, who stars in Mr. Abdulmutallab’s story as both a religious hero and a practical adviser on carrying out mayhem, is particularly important. The government allegation that Mr. Awlaki was behind the underwear bomb plot — never tested in a court of law — became the central justification that President Barack Obama cited for ordering the cleric’s killing in a drone […]
Thursday 05:25 GMT Overview Asian stocks fell, following their US counterparts lower as investors digested the minutes of the Federal Reserve’s January policy meeting. Hot topic The Fed’s minutes showed that “many” policymakers thought it would be appropriate to raise short-term US interest rates again “fairly soon”, even given potential uncertainty around the new Trump administration’s economic policies and possible tax cuts. The market view on rates […]
Tesla is likely to turn to Wall Street for another big cash infusion as it gears up to launch its first mass-market electric vehicle later this year, chief executive Elon Musk indicated on Wednesday. His comments came as the US electric carmaker disclosed that chief financial officer Jason Wheeler would leave the company after little more than a year. Mr Musk said only that Mr Wheeler was […]
Goldman Sachs, the last bank on Wall Street to handle significant physical volumes of oil and gas, has pushed back against a planned crackdown on combining finance with commodities trading. The institution warned the Federal Reserve to carefully weigh the effects on markets and companies as it sought to levy steep capital charges against a bank’s holdings of bulk materials. In its letter to the Fed dated […]
By Tom Miles and Stephanie Nebehay | GENEVA GENEVA U.N. mediator Staffan de Mistura said on Wednesday he did not expect an immediate breakthrough when Syria peace talks restart on Thursday but wanted productive talks that relaunch the process towards a political solution to end the six-year war. They will be the first U.N.-mediated negotiations on Syria in almost a year, during which time the military and […]
22 February 2017 Al Maha Arjaan by Rotana is pleased to announce the appointment of Nadim El Zyr as General Manager of the hotel. Born and raised in a legacy of hoteliers, he spans a career of over 15 years in the hospitality industry and brings an assortment of rich experience. In his new role he will provide strategic leadership that ensures effective and efficient management of […]
Telstra has sold its remaining 6.5 percent stake in Chinese online company Autohome to Chinese insurer Ping An Insurance Group for $29.30 per share, for a total of $217 million (AU$282 million). “The divestment reflects Ping An is now well established as a strategic partner for Autohome,” Telstra said in a statement to the Australian Securities Exchange (ASX) on Thursday morning. “As a result of the sale, […]
Analysts and traders alike were looking forward to today’s “black box” earnings from Tesla as it would be the first consolidated report that combined Tesla Motors operations with those from cash-bleeding monstrocity SolarCity following the pair’s merger, to wit: “with the acquisition of SolarCity, we have created the world’s only integrated sustainable energy company, from generation to storage to transportation.“ And, as usual, Elon Musk managed to […]
Tesla Inc (TSLA.O) posted a smaller quarterly loss and said its mass-market Model 3 sedan was on track for volume production by September. The electric car maker said it expected to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017. The company said it planned to invest between $2 billion and $2.5 billion in capital expenditures ahead of the […]
Your daily guide to community and cultural activities across the Emirates for February 23, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini 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 Abu Dhabi Performance Get tickets […]
When Ford borrowed a €750m bond in euros at the start of the year, the US carmaker was following a path that has become familiar to corporate America. The deal was an example of so-called “reverse Yankee” issuance, where US companies sell bonds in euros, tapping demand from eurozone investors. Ford added to the more than €100bn of debt sold in the eurozone over the past two […]
Fitch Ratings-Moscow-22 February 2017 Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of five UAE banks with Stable Outlook and maintained Rating Watch Positive (RWP) on First Gulf Bank’s (FGB) IDRs. The agency also downgraded the Viability Rating of Union National Bank (UNB) to ‘bbb-‘ from ‘bbb’. A full list of rating actions is at the end of this commentary. KEY RATING DRIVERS IDRs, SUPPORT […]
Unilever has promised to boost profits and conduct a root-and-branch review of its business that could lead to asset sales just days after an aborted $143bn takeover approach from Kraft Heinz, the US food group backed by 3G Capital and Warren Buffett. Unilever is under pressure to speed up returns to shareholders following the bid from Kraft Heinz, which has raised questions about the consumer products group’s […]
But one option being considered is for American troops to step up their support of the fighters by firing artillery, shooting mortars, helping with logistics and significantly expanding efforts to advise them, much as the United States is doing for Iraqi forces in the battle for Mosul. Continue reading the main story In late January, President Trump gave the defense secretary, Jim Mattis, 30 days to develop […]
Submitted by Chris Hamilton via Econimica blog, I’m dazed & confused…economists and the consensus all acknowledge 2001 and 2007 were low interest rate, debt driven financial and economic bubbles. However, somehow today’s even lower interest rate environment resulting in an additional $9.5 trillion in equity valuation from the last bubble peak…this one is legit and isn’t a bubble??? What I’m even more confused about is who, exactly, is buying all the […]
By Yashaswini Swamynathan U.S. stocks looked set to open little changed on Wednesday as investors awaited the minutes of the Federal Reserve’s most recent policy meeting for clues on the timing of the next interest rate hike. The Fed will release the minutes of its Jan. 31-Feb. 1 meeting at 2:00 p.m. ET (1900 GMT). Policymakers, including Fed Chair Janet Yellen, have been hinting at the possibility […]
BEIJING Authorities in a violence prone area of China’s western Xinjiang region are offering 100 million yuan ($14.5 million) in rewards for anti-terror tips, state media said, a policy that coincides with a dramatic rise in regional security spending. Hundreds of people have been killed in Xinjiang in the past few years, most in unrest between members of the Muslim Uighur minority, who call the region home, […]
Paul Polman thought it was just going to be an informal catch-up. But it quickly became clear that Alexandre Behring, chairman of Kraft Heinz, had something very specific on his mind when he visited Unilever’s art deco headquarters in London last month. Had Mr Polman, chief executive of Unilever since 2009, ever considered a collaboration with Kraft Heinz, Mr Behring wanted to know. Mr Polman took this […]
Vocus Communications has announced its financial results for the first half of FY17, revealing a net profit of AU$47.2 million, up from AU$24.2 million a year previous due to its acquisitions of M2 and Nextgen. Statutory earnings before interest, tax, depreciation, and amortisation (EBITDA) were AU$168.3 million, up from AU$60.7 million a year previous, while underlying EBITDA — excluding acquisition, integration, and other costs — was AU$187.2 […]
MANILA The foreign minister of the Philippines expressed doubt on Wednesday that a maritime sovereignty dispute with China could be resolved “during our lifetime”, so it was better to set it aside, engage Beijing and avoid an armed confrontation. In a defence of President Rodrigo Duterte’s decision not to push China to abide by an international arbitration ruling that went in Manila’s favour last year, Foreign Secretary […]
But they are not buying much. Unemployment is high, especially among the many young people graduating from college. In all, 50,000 people remain displaced. Electricity and water supplies are still near crisis levels. Hamas, which governs Gaza, elected a new hard-line leader. Tunnel building goes on (and, presumably, so does the construction and smuggling of weapons). On the Israeli side, the political right talks of a new […]
KUALA LUMPUR Malaysian police identified a senior official in the North Korean embassy on Wednesday as a suspect in the murder of Kim Jong Nam, and said another was linked to North Korea’s state airline. Police chief Khalid Abu Bakar said both suspects are still in Malaysia and have been called in for questioning. He said North Korean diplomat held the rank of second secretary at the […]
