Wall Street climbed on Tuesday as telecom stalwarts AT&T and Verizon gained and bank shares added to their torrid post-election rally, helping the Dow set another record closing high. The S&P financial sector .SPSY rose nearly 1 percent, lifted by a 2.2 percent gain for Wells Fargo (WFC.N). The bank’s chief executive told an investor conference it will see a near-term profit hit because of the sharp […]
Hedge fund manager Pierre Andurand has returned almost 15 per cent this year by betting on a recovery in oil prices and he forecasts the rally has further to run after Opec’s agreement last week to cut supplies. The French founder of Andurand Capital, which has grown to be one of the world’s largest oil funds, returned 6.1 per cent in November as he positioned for crude’s […]
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. It’s so quaint that politicians still get pissed at the press and utter some version of Mark Twain’s, “Never pick a fight with people who buy ink by the barrel.” That was underscored again Monday by Donald Trump, who tweeted, […]
In interviews with The New York Times, a former Taliban finance minister described how he traveled to Saudi Arabia for years raising money while ostensibly on pilgrimage. The Taliban have also been allowed to raise additional millions by extorting “taxes” by pressing hundreds of thousands of Pashtun guest workers in the kingdom and menacing their families back home, according to Vali Nasr, a former State Department adviser. […]
Submitted by Mac Slavo via SHTFPlan.com, When gold exploded to the upside earlier this year amid the biggest New Year’s stock market panic in history, we noted that the bull market had awoken. And despite arguments to the contrary from mainstream financial pundits that gold and silver were not monetary metals and nothing but historical relics, it became apparent during the Brexit vote that precious metals were the […]
HONG KONG Asian stocks opened higher on the back of a strong Wall Street with markets discounting the potential impact of Italy’s referendum vote, while U.S. Treasury yields firmed as robust economic data pointed to an interest rate hike next week. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.4 percent in early trade with Antiopodean markets leading gains. Korea .KS11 climbed 1 percent in […]
U.S. President-elect Donald Trump said on Monday he would name retired neurosurgeon Ben Carson as secretary of the Department of Housing and Urban Development. The following is a list of Republican Trump’s selections for top jobs in his administration. All the posts but that of national security adviser require Senate confirmation: DEFENCE SECRETARY: JAMES MATTIS Mattis is a retired Marine Corps general known for his tough talk, […]
The great American corporate buyback party was expected to fizzle out next year, leaving a hangover of debt and remorse. Instead, the boom may soon find renewed succour if US companies bring their pile of foreign-based cash back home. A tax holiday for US companies looms under president-elect Donald Trump, with some seeing this wave of cash as the catalyst of an investment boom and faster US […]
Wall Street rose on Monday, with the Dow Jones industrials setting fresh record highs, as services sector data gave further evidence of strength in the domestic economy. U.S. services sector activity hit a one-year high in November, with a surge in production boosting hiring, following on the heels of Friday’s employment report that showed strong job gains last month. U.S. stocks have climbed since the Nov. 8 […]
Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. Gold transactions must be fully backed by physical metal and settled on the same day, the developers of the new guidance said, to observe Islam’s distinction between real economic activity and speculation. Traditionally, gold has played a very […]
By Amy Tennery | NEW YORK NEW YORK Green Party presidential nominee Jill Stein pressed her case on Monday for recounts of U.S. presidential ballots in three states, and locked horns with President-elect Donald Trump over her motives. Stein sued Pennsylvania election officials in federal court, demanding a statewide recount. Hours earlier, a federal judge in Michigan ordered a recount to begin there without delay. In Wisconsin, […]
In the United States, too, I found resistance to the idea that Brexit was a harbinger of a Trump victory. I was assured over and over by liberal friends that Trump would never be president. American voters were too sensible to fall for his hateful demagogy. Trump, I was told, was a product of peculiarly American strains of populism that flare up periodically, like the anti-immigrant nativism […]
Liberty plays football in Division I’s second rung. The university is run by Jerry Falwell Jr., a godly sort who understands the need for occasional accommodation with the secular world. Earlier this year he strolled around the Republican National Convention with his candidate, Donald J. Trump, a thrice-married man whom numerous women have accused of sexually harassing them. Photo Jerry Falwell Jr., the president of Liberty University, […]
Your daily guide to community and cultural activities across the Emirates for December 4, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Yoga class Sign up for a Yoga Dance Body Rhythm class with Yvette Campbell at Bodytree Studio. This yoga-inspired dance class is set to the percussive rhythms and is a fun full-body […]
By Peter Henderson | OAKLAND, Calif. OAKLAND, Calif. At least nine people were dead and about 25 were unaccounted for after a massive fire broke out during a late-night party in a warehouse in Oakland, California, the city’s fire chief said on Saturday. Fire officials were still trying to determine how the blaze started at about 11:30 p.m. on Friday, said Chief Teresa Deloach-Reed. The roof of […]
It has been a bad week for Conservative Eurosceptics, their worst since their EU referendum victory in June. The sight of Zac Goldsmith, a leading Brexiter, losing his 23,000 majority in a by-election to the pro-European Liberal Democrats capped it. “The result doesn’t change anything,” said a Conservative spokesman, pointing out that Theresa May was still committed to starting Brexit by the end of March 2017, whatever […]
Like Christmas ornaments on Main Streets across America, Wall Street banks’ forecasts for the year ahead keep coming out earlier every year. At least this year analysts have something substantive to sink their intellectual teeth into: the impact of incoming president Donald Trump. The results are fascinating — especially for bonds. The fixed income market has been one of the biggest victims in the “Trumpflation trade” that […]
AJMAN// A time capsule that sums up the UAE’s history with videos, pictures and writings, was the highlight of Ajman’s celebrations for 45th National Day. The capsule, an initiative from the Ajman Tourism Department, was launched on November 25 and will be on display until December 3 before being placed underground for a period of five years. People from across the country were invited to participate with […]
A digital battle is being waged over the huge amount of technical data that will be stored in autonomous vehicles Just like credit cards, smartphones or search engines, autonomous cars will carry a trove of information about their owners as they make driving more comfortable, raising new concerns about privacy. Automakers are engaged in a fierce race to develop the first driverless car, which experts say should […]
Donald Trump has named Stephen Schwarzman, chief executive of Blackstone, as chairman of a new council of strategic advisers, capping a week that has seen Wall Street veterans installed at the heart of the incoming US administration. The president’s strategic and policy forum, which will meet for the first time in February, also includes JPMorgan Chase chief executive Jamie Dimon and Larry Fink, founder of BlackRock, among […]
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 […]
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 […]
By Anshuman Daga and Marius Zaharia | SINGAPORE SINGAPORE Singapore’s central bank imposed penalties on the local units of U.K.-based Standard Chartered (STAN.L) and private bank Coutts for money laundering breaches related to Malaysia’s scandal-tainted 1MDB fund and said it was nearing the end of its probes. The penalties – of S$5.2 million ($3.65 million) and S$2.4 million, respectively – were the latest punitive measures taken by […]
There aren’t very many tourists on my flight from New York to Kingston – it’s mostly Jamaicans going home. The tourists usually favour the trip to Montego Bay, from where they’re immediately shuttled into carefully cloistered resorts and served a jolly medley of reggae and other clichés of island life along with the necessary TVs, ATMs, fast-food chains, souvenir shops and multiple pools. Many travellers who visit […]
