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Deutsche Bank and Credit Suisse have agreed to pay out billions to resolve a probe into the alleged mis-selling of mortgage-backed securities at the height of the US housing bubble, striking deals before the Trump administration takes power. The deals came as federal prosecutors announced they were suing Barclays and two of its executives over the issue of allegedly fraudulent residential mortgage-backed securities. The suit followed the breakdown of talks […]

Photo Basel Ghattas, an Arab member of Israel’s Parliament, in 2015. Mr. Ghattas was accused of smuggling cellphones to Palestinian prisoners. Credit Ahmad Gharabli/Agence France-Presse — Getty Images JERUSALEM — An Arab member of Israel’s Parliament was arrested on Thursday after being accused of smuggling cellphones to Palestinian prisoners, capping days of fractious debate that raised questions about the nature of loyalty and identity in a predominantly […]

Net redemptions from emerging market equity funds reached a five-week high in the latest week amid pressure from the rising dollar and uncertainty about trade policy in the US, especially with China. Investors withdrew $3.7bn from emerging market equity funds in the week to Wednesday, according to EPFR Global, with Asia ex-Japan equity funds seeing net redemptions of $2.36bn, the largest since September of 2015. China equity […]

By James Pearson | SEOUL SEOUL As hundreds of thousands of South Koreans poured into the streets every weekend for two months to call for President Park Geun-hye to resign, the opposition’s leading contender to replace her appeared reluctant to seize the moment. That is changing as Moon Jae-in, a 63-year-old human rights lawyer who lost the 2012 election to Park by more than a million votes, […]

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. It could be a dinner akin to the disastrous ones in “Meet the Parents,” “Talladega Nights” and “Wedding Crashers.” Or maybe “American Beauty,” where newly unemployed Kevin Spacey turns to his wife (Annette Bening) and daughter (Thora Birch) and says […]

Photo An Airbus A321 featuring the Iranian flag at an Airbus plant in Hamburg, Germany, this week. The acquisition of modern planes is an important achievement for President Hassan Rouhani of Iran. Credit Fabian Bimmer/Reuters The European aircraft manufacturer Airbus completed a deal on Thursday to sell 100 jetliners to Iran, a move described by both sides as a major step toward revitalizing Iran’s aged commercial fleet […]

Friday 02:50 GMT Overview Asian markets not already shut for the holidays went into retreat, following a negative lead from Wall Street as investors took a breather ahead of the Christmas break. Hot topic Most major global stock markets were on track to finish December in the black, continuing the rally set off by Donald Trump’s presidential election victory in early November. In Asia, Japanese equities have […]

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BEIJING Chinese state media on Friday expressed alarm and warned of a “showdown with the U.S.” after President-elect Donald Trump named Peter Navarro, an economist who has urged a hard line against China, to head a new White House National Trade Council. Navarro is an academic and one-time investment adviser who has authored books such as “Death by China: How America Lost its Manufacturing Base”. The book […]

Europe’s Airbus signed a firm contract on Thursday to sell 100 jets to IranAir, completing a return by Western plane giants and paving the way for deliveries to start next month, a year after sanctions against Iran were lifted. The deal took weeks of shuttling between Airbus headquarters in Toulouse, France, and Tehran, complicated by a shortage of expert legal advice as Iran completes its biggest commercial […]

In October 1977, a Memphis, Tennessee woman was raped in her home by two intruders.  The woman subsequently identified one of the perpetrators as her neighbor, 22 year old Lawrence McKinney.  One year later, McKinney was convicted on rape and burglary charges and sentenced to 115 years in prison. The only problem is that he didn’t do it.  After spending 31 years in prison, DNA evidence cleared […]

Your daily guide to community and cultural activities across the Emirates for December 23, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Festive fun Visit Al Maryah Island for the Winter Wonderland, featuring cosy winter cottages hosting activities including bauble-decorating, cracker-making and gingerbread-house-decorating. A skating rink and snow park offer a wintry feel, while […]

Donald Trump turned up the heat under Lockheed Martin about the cost of its F-35 fighter jet, tweeting on Thursday that he had asked rival defence contractor Boeing to price its F-18 Super Hornet as an alternative.  “Based on the tremendous cost and cost overruns of the Lockheed Martin F-35, I have asked Boeing to price-out a comparable F-18 Super Hornet!” Mr Trump tweeted on Thursday evening. […]

Mr. Trump, who last week nominated as ambassador to Israel a bankruptcy lawyer who heads a fund-raising effort for a West Bank settlement, made clear on Thursday that he would not wait for his inauguration to weigh in. In a statement, he said bluntly that the resolution should be vetoed. Continue reading the main story “As the United States has long maintained, peace between the Israelis and […]

US trade policies under Donald Trump will be key to agricultural commodities next year, as the world continues to grapple with high levels of grain production and inventories, according to a leading forecaster. “The area of concern is whether anything is going to happen that is going to affect our trade with China, which is a big agricultural buyer,” said Don Riffe, senior vice-president for agribusiness intelligence […]

PANAMA CITY: From the Panama Papers to the impeachments of the presidents of Brazil and South Korea, 2016 was a year marked by corruption scandals, and by rising public outrage over graft. The question is, will that translate into a lasting demand for cleaner politics? “A new phenomenon” is being seen, said Jose Ugaz, a renowned Peruvian lawyer and the chairman of Transparency International, a Berlin-based anti-corruption […]

LAGOS Nigerian authorities are involved in negotiations aimed at securing the release of some of the more than 200 girls kidnapped by Boko Haram in 2014 in the northeastern Nigerian town of Chibok, the president’s spokesman said on Thursday. His comments, posted on Twitter, came in response to reports in Nigeria’s media that some of the girls had been released by the Islamist militant group, which he […]

By Amy Tennery | NEW YORK NEW YORK A JetBlue airline passenger, who media outlets and a witness described as making angry remarks at the sight of Ivanka Trump on his flight, was removed from the plane on Thursday by the airline. JetBlue Airways Corp (JBLU.O) confirmed in a statement that a passenger had been removed from a flight set to depart from New York’s John F. […]

By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer spending increased modestly in November as household income failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period. The economy, however, remains on solid footing as other data on Thursday showed new orders for capital goods rising last month amid demand for machinery, indicating […]

Vladimir Putin and Donald Trump on Thursday called for the strengthening of their countries’ nuclear capabilities. Speaking at a meeting of defence chiefs in Moscow, Mr Putin said Russia needed to “strengthen the strategic nuclear forces, for that we should develop missiles capable of penetrating any current and prospective missile defence systems”, according to the Tass news agency. Mr Putin claimed Russia’s military was able to repel […]

ANKARA Bana Alabed, the young Syrian girl who drew global attention with her tweets from Aleppo before being evacuated to Turkey this week, says she hopes to go back to her hometown one day and fulfil a dream. “When I grow up I want to become a teacher and go back to Aleppo and teach the children of Aleppo,” Bana told Reuters in an interview in Ankara […]

By Ellen Francis and Stephanie Nebehay | BEIRUT/GENEVA BEIRUT/GENEVA The Syrian army said on Thursday that it had retaken complete control of Aleppo after the last rebel fighters were evacuated from the city, handing President Bashar al-Assad his biggest victory of the war. The army said it had brought “security and safety” to Aleppo, ending four years of rebel resistance in parts of the northern Syrian city. […]

Sombero (center) with his lawyer and a paper bag full of money Alleged illegal gambling middleman Wenceslao Sombero Jr. has turned over to the Office of the Ombudsman his purported P2-million share of the P50 million supposedly extorted from gambling tycoon Jack Lam by two former immigration officials. Sombero surrendered the plastic-wrapped cash on Thursday afternoon as part of his evidence in the graft case he filed […]

U.S. President-elect Donald Trump called for the expansion of the United States’ nuclear capabilities until the world “comes to its senses,” but gave no other details in a tweet on Thursday. “The United States must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes,” Trump said in the post on Twitter. Representatives for his transition team could […]

Abu Dhabi, December 22, 2016  H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy (MOE), recently met with Suren Karayan, Minister of Economic Development and Investments of Armenia to discuss key ways to further expand economic and trade relations between the two countries–building investment partnerships in sectors that would bring mutual benefits to both countries based on their respective capabilities. The discussion took place during […]

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