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By Steve Holland and Emily Stephenson | WASHINGTON/NEW YORK WASHINGTON/NEW YORK President-elect Donald Trump closed in on naming two early Wall Street backers to key economic positions but jettisoned a national security expert from his transition team on Tuesday, a sign of the premium he places on loyalty as he confronts the task of building his administration. Trump, a Republican outsider who won a surprise election victory […]

By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]

By Paul Sandle | LONDON LONDON Google delivered a vote of confidence in London’s future as a technological hub after the Brexit vote on Tuesday by announcing plans for a new building in the King’s Cross area of the city that will house thousands of extra engineers. Google’s Chief Executive Sundar Pichai said computer science had a great future in Britain, citing the talent pool, educational institutions, […]

Donald Trump’s election victory heralds the beginning of a new era that will be marked by the retreat of globalisation and rising bond yields, according to Bridgewater’s Ray Dalio. Mr Dalio, the founder of the world’s biggest hedge fund group, said in a note on Tuesday that “there is a good chance that we are at one of those major reversals that last a decade”, similar to […]

MARRAKECH// The UAE delegation headed by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, attended the opening session of the Conference of Parties 22 on Tuesday. Sheikh Mansour thanked the government and people of Morocco for hosting this important event to tackle climate change and to put in place an effective mechanism for the implementation of last year’s Paris Agreement. The session was […]

Photo A blanket of smog covered Tehran on Monday. Every year, heavy pollution gets trapped by the Alborz Mountains. Credit Atta Kenare/Agence France-Presse — Getty Images TEHRAN — This week, as a yellow blanket of smog settled in for what is typically a winter-long stay, Reza Shajiee, a prominent hipster socialite, posted a picture of himself on Instagram wearing a gas mask under his motorcycle helmet. The […]

newslide ‘The Rock’ talks a future in politics, including potential White House run The Rock may have been voted Sexiest Man Alve by People, but the 44-year-old is interested in topping a more serious poll. After parleying a professional wrestling career as The Rock into leading roles in Hollywood, Dwayne Johnson is entertaining the idea of jumping into the political ring, including perhaps even a run for […]

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“Phase one is the hope phase,” Stephen Cucchiaro, chief investment officer at 3 Edge Asset Management, says of the reaction in financial markets to president-elect Donald Trump. “As it is a while until he’s president, you can hope for fiscal stimulus getting growth going and reawakening animal spirits.” Evidence of exuberance is not hard to find. S&P 500 financials and heathcare stocks are flying; US 10-year Treasury […]

Saudi Arabia’s central bank expects gross domestic product to grow 1.8 percent this year, faster than the 1.2 percent forecast by the International Monetary Fund, the bank said in its annual report, released on Monday. The non-oil sector is expected to expand 2.5 percent and the oil sector, 1.2 percent, the central bank said. At a news conference, central bank governor Ahmed Al Kholifey said that the […]

PARIS U.S. President-elect Donald Trump will have little choice but to adopt a softer line on trade than the one he has flagged during his campaign, although flare-ups with some partners are likely, former WTO chief Pascal Lamy said. With financial markets wondering whether Britain will opt for a hard or soft Brexit, Lamy said that there was a similar scenario for trade under a Trump presidency. […]

November 15, 2016 by: Kathrin Hille in Moscow Vladimir Putin has urged Donald Trump to co-operate on the war in Syria and develop economic ties in his first push to improve strained Russian relations with the US following America’s election. The Russian president spoke by telephone with Mr Trump, the US president-elect, late on Monday and expressed a “willingness to build a dialogue between partners with the […]

Political advertising may get more attention but with Election Day hours away, a liberal super PAC is betting direct outreach to voters is actually more effective. For Our Future has “a goal of 8,093,518 knocks by Election Day,” according to its most recent publicly posted strategy memo. The group was formed last June and supports Democratic presidential nominee Hillary Clinton and Democratic candidates for Congress, including U.S. […]

A sell-off reverberating through sovereign bond markets tested investor appetite on Monday for a multibillion-dollar corporate bond sale, as money managers wait for volatile price swings to subside. Pfizer successfully completed a $6bn bond sale on Monday but several investors familiar with the sale said interest was subdued by the recent volatility in fixed-income markets, which has seen the yield on both the 10 and 30-year Treasuries […]

New London office construction activity has fallen 42 per cent from a year ago as Brexit and other uncertainties cast a shadow over the property market. Work began on 40 new office developments totalling 2.8m square feet over the past six months, down from a record 4.8m square feet recorded a year earlier, according to Deloitte Real Estate’s Crane Survey. Total development activity rose slightly from a […]

By Julia Love and Kristina Cooke | SAN FRANCISCO SAN FRANCISCO Alphabet Inc’s Google said on Monday it is working on a policy change to prevent websites that misrepresent content from using its AdSense advertising network, a move aimed at halting the spread of “fake news” and other types of misinformation on the internet. The shift comes as Google, Facebook Inc and Twitter Inc face a backlash […]

With US president-elect Donald Trump’s governing priorities slowly starting to take shape, the US steel industry emerged on Monday as one sector where investors are placing their bullish bets. Three companies — US Steel, AK Steel and iron-ore producer Cliffs Natural Resources — saw their stock ratings upgraded by Morgan Stanley analysts in the wake of last week’s election, pushing their share prices up. Mr Trump’s election […]

By Hugh Bronstein | BUENOS AIRES BUENOS AIRES Donald Trump’s election as U.S. president raises concern that Washington may increase the intrusiveness of domestic intelligence gathering, former U.S. spy agency contractor Edward Snowden said on Monday, warning that democratic checks and balances were losing ground to authoritarianism. Snowden lives in Moscow under an asylum deal after he leaked classified information in 2013 that triggered an international furore […]

After months of sending government troops to battle militants blowing up oil pipelines in the Niger Delta, Muhammadu Buhari tried a different tack. The Nigerian president invited the region’s community leaders and traditional rulers to his villa this month for talks — a step energy sector executives hoped could halt a wave of sabotage since January that has cost the country billions of dollars in damages and […]

Brent crude oil dropped below $44 a barrel on Monday to hit its lowest level for three months, as a strengthening US dollar and doubts over Opec’s ability to agree supply curbs when it meets this month led to funds selling out of the market. Hedge funds and other large speculators have been paring their bets on higher oil prices for the past month, with the latest […]

NEW YORK A measure of U.S. inflation expectations held mostly steady at low levels in October, with only some momentum higher, according to a Federal Reserve Bank of New York survey taken before Americans voted in this month’s presidential election. The survey of consumer expectations, an increasingly influential gauge of prices for the U.S. central bank, found that inflation is expected to be identical one and three […]

A global bond market rout intensified on Monday while the dollar strengthened as investors bet that US president-elect Donald Trump’s mix of economic stimulus and protectionism will herald faster growth and the return of inflation. Since Mr Trump’s surprise win in last week’s election, investors have begun to question long-held consensus forecasts for subdued inflation and mediocre growth that underpinned a rally in bonds over the summer. […]

US bank shares have staged the sharpest recovery rally since Wall Street emerged from the financial crisis in 2009, underlining the stark shift in investor sentiment that has gathered pace since Donald Trump captured the US presidency.  The S&P 500 banks index, a gauge of the largest US banks, has turned a year-to-date fall that, at its worst, reached almost 25 per cent, to a gain of […]

Thanks to a bill passed by Texas legislators that put in place technical voting procedure for astronauts, they have the ability to vote from space through specially designed absentee ballots. To preserve the integrity of the secret vote, the ballot is encrypted and only accessible by the astronaut and the county clerk responsible for casting it. Source link

By David Morgan | WASHINGTON WASHINGTON With a bitter election campaign finally over, the Congress will reconvene this week to try to set aside its partisan differences long enough to keep the government from closing. As President-elect Donald Trump shapes his administration, Republicans are expected to move away from initial plans for compromise funding legislation and opt instead for a short-term measure to keep the government running […]

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