After a day of chaotic communication, a stock sell-off and a $6.3bn writedown that may destroy one of Japan’s greatest industrial names, the Toshiba president’s bow of apology finally came. Satoshi Tsunakawa’s head nodded for just one perfunctory second on Tuesday. Most assume there will be much deeper, longer bows to come as Toshiba leads investors, customers, employees and Japan as a whole through the country’s first […]
As central bankers seek to wean markets off quantitative easing and exit the dangerous experiment of negative rates, they increasingly fret about the resilience of credit markets. How worried should they be? The US Treasury’s Office for Financial Research, the European Central Bank and the Bank of England have all issued warnings in their financial stability reports voicing concern over whether we might see fire sales that […]
By Colin Packham and Aaron Bunch | SYDNEY SYDNEY Officials at an Australian immigration centre in Papua New Guinea are increasing pressure on asylum seekers to return to their home countries voluntarily, including offering large sums of money, amid fears a deal for the United States to take refugees has fallen through. About a dozen Bangladeshi and Nepalese asylum seekers on Manus Island told Reuters they are […]
BEIJING A court in southeastern China on Wednesday sentenced the former Communist Party boss of the northern province of Hebei to 15 years in jail after finding him guilty of corruption, the latest senior official jailed in a sweeping crackdown on graft. Zhou Benshun was the top official of Hebei province, which surrounds Beijing and is China’s most important steel producer. He had earlier worked with one-time […]
Matt Kiser worked in news for many years, and now he works as a product manager at an algorithm startup in Seattle. But every day, Matt spends upwards of six hours working by hand on his single-subject blog, which launched in January. Starting a new project to track what the fuck just happened today. https://t.co/p64yr6BKJ3 — Matt Kiser (@Matt_Kiser) January 29, 2017 Single subject, distinct tone, clear […]
Since then the barriers to peace have grown even more formidable, and attitudes like Mr. Gatshan’s more entrenched. Continue reading the main story When President Trump and Israel’s prime minister, Benjamin Netanyahu, meet in Washington on Wednesday they are likely to discuss a change of tactics, relying on Arab states like Qatar to help secure a two-state solution, under which Israel and an independent Palestinian state would […]
When Federal Reserve chair Janet Yellen testifies before a Senate committee on the state of the economy on Tuesday, there will be plenty tuning in who believe the epitaph for the three-decade rally in the bond market has been rightly written. US president Donald Trump’s plan to ramp up government spending and axe corporate taxes threatens to accelerate inflation, push up interest rates and widen the deficit […]
By Rozanna Latiff and Ebrahim Harris | KUALA LUMPUR KUALA LUMPUR The slight girl in a turquoise headscarf held back tears as she recalled what happened when she fled to Malaysia from Myanmar’s violence-hit Rakhine state. Just 12-years-old at the time, she was forced to wed a man she did not know, and who was more than a decade older than her. The teenager, who is not […]
By Manolo Serapio Jr | SANTA CRUZ, Philippines SANTA CRUZ, Philippines His brother kept telling him that the mine would reopen and he would be hired again: but when Winston Ordonez didn’t get a call from a mining firm, he took a laptop charger cable, tied it around his neck and hanged himself in his kitchen. Ordonez worked at the nickel mine operated by Eramen Minerals Inc […]
An arrest warrant for Samsung boss Lee Jae-yong has been filed for a second time by special prosecutors investigating the Korean political scandal involving the country’s president. Investigators grilled Lee, the de facto boss of the entire Samsung business group, on Monday for 15 hours as a suspect. The court will review the filing Friday and decide whether to arrest him pending trial. He faces bribery charges […]
On Valentine’s Day everyone is looking to celebrate love. But if you are a millennial, then you might have no problems breaking up and trading in a lover for the limelight. According to a study conducted by the social entertainment network Clapit, some millennials have no problem choosing fame over falling in love, getting married and having children. Clapit, the mobile-first platform that aims to helps users […]
Goldman Sachs shares shattered a 10-year record to reach a fresh closing high on Tuesday, buoyed by hopes that the Trump administration will bring a profit-boosting mix of higher interest rates, lower taxes and lighter regulation. All banks have rallied hard since November 8, when Mr Trump beat Hillary Clinton in the race to the White House. But only a handful have done as well as Goldman, […]
The reaction to a strike at the world’s largest copper mine underlines the sharp reversal in fortune in one of the world’s key metals over the past four months. Copper has jumped 5 per cent in the past two days to a two-year high after a strike at the Escondida mine in Chile raised supply fears about a market that has been starved of investment. The dispute […]
By Steve Holland and Richard Cowan | WASHINGTON WASHINGTON U.S. President Donald Trump knew for weeks that national security adviser Michael Flynn had misled the White House about his contacts with Russia but did not immediately force him out, an administration spokesman said on Tuesday. Trump was informed in late January that Flynn had not told Vice President Mike Pence the whole truth about conversations he had […]
By Andrew Osborn | MOSCOW MOSCOW Russia’s parliament applauded on learning that Donald Trump had won the U.S. election. But prospects for better relations with Washington have suffered setbacks since then and the resignation of Trump’s national security adviser is the biggest blow yet. The Kremlin still believes a rapprochement is feasible, even if it might take longer than initially thought. But the clock is ticking: Vladimir […]
DHAKA Bangladesh police on Tuesday shot dead a suspected militant commander and a close aide of the mastermind of the cafe attack last year that killed 22 people, mostly foreigners, a police official said. Police said Abu Musa, 32, was a close associate of Jahangir Alam, one of the masterminds of the July attack who was arrested last month, and wanted for killings of religious minorities and […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. producer prices recorded their largest gain in more than four years in January amid increases in the cost of energy products, but a strong dollar continued to keep underlying inflation at the factory gate tame. Rising raw material costs are boosting producer prices across the globe, notably in China, which is the biggest source of U.S. imports. But economists still […]
The US economy and fiscal policy face an uncertain path under the administration of Donald Trump, Janet Yellen warned on Tuesday as she declared “monetary policy is not on a preset course” but said it would be “unwise” to raise rates too slowly. Testifying before Congress on Tuesday, the Federal Reserve chair painted a picture of an economy with accelerating growth, higher inflation and a robust labour […]
The UAE shall take quality-focused steps to create a supportive environment for innovation at a legislative level and for educational system, economic and media segments, says UAE Economic Minister Dubai, February 14, 2017 Engineer Sultan bin Saeed Al Mansoori, Minister of Economy chaired the seminar on innovation and the future of economy at the World Government Summit, a global platform dedicated to shaping the future of government […]
PARIS France honored the A380 superjumbo with a place in its national aerospace museum on Tuesday, granting it equal status with the Boeing 747 even as questions pile up over the future of the industry’s biggest jets. The A380 test plane, the fourth to be built and the second to actually fly in 2005, flew to Le Bourget near Paris from Toulouse with 50 technicians who will […]
Fed Chair Yellen will be appearing before Congress deliver her semi-annual monetary policy testimony (sometimes called the “Humphrey-Hawkins” testimony) today. Her prepared remarks are expected to sound similar to her most recent speech, noting that the labor market has tightened and wage pressures are increasing modestly. As BofA details, she will likely note that the Fed is making progress toward its mandate of full employment and price […]
By Shadia Nasralla | VIENNA VIENNA An Austrian opposition lawmaker accused Turkey on Tuesday of operating an informer network via its embassy in Vienna that he said targets critics of President Tayyip Erdogan, promotes his policies and receives payments from Ankara. Peter Pilz, from the Austrian Greens, said he had sent documents to the police detailing the activities of the ATIB, an umbrella organisation headed by the […]
Getty Images/iStockphoto Operating systems are the core of our digital civilization. Hack-proofing them means that billions of devices – PCs, network switches, IoT devices, drones and much more – are much more secure. That forces cybercriminals to move up to less common layers of the software stack. special feature Cyberwar and the Future of Cybersecurity Today’s security threats have expanded in scope and seriousness. There can now […]
By Clare Baldwin and Andrew R.C. Marshall | MANILA MANILA Before Rodrigo Duterte’s bloody war on drugs had even begun, allies of the Philippines president were quietly preparing for a wider offensive. On June 30, as Duterte was sworn in, they introduced a bill into the Philippine Congress that could allow children as young as nine to be targeted in a crackdown that has since claimed more […]
