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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 […]

US President-elect Donald Trump is sending another strong signal that he plans to take a pro-growth and business friendly approach to economic policy, with leading New York investors Steve Mnuchin and Wilbur Ross on his short list for Treasury and Commerce secretary. The pair on Tuesday won the endorsement of billionaire investor and Trump backer Carl Icahn who turned to Twitter after speaking with the incoming Republican […]

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 […]

“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 […]

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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 […]

Photo Donald Trump at a rally against the Iran deal in Washington last year. He vowed during his campaign to renegotiate or renounce the agreement. Credit Doug Mills/The New York Times Seventy-six national security experts urged President-elect Donald J. Trump on Monday to reverse his hostility to the nuclear agreement signed with Iran last year and to use it as a tool to ease other tensions with […]

Tokyo is struggling to find out who is advising Donald Trump on Japan policy, as the president-elect prepares to meet Prime Minister Shinzo Abe in New York this week in what will be his first meeting with a foreign leader since his victory over Hillary Clinton. Four former US officials said the Japanese embassy had been contacting Asia experts in Washington to identify Trump advisers on Japan […]

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 […]

SINGAPORE Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. U.S. crude futures for December delivery CLc1 had climbed 90 cents, or 2.1 percent, to $44.22 a barrel by 0340 GMT. They struck their lowest in nearly two months […]

November 15, 2016 by: Peter Wells in Hong Kong Tuesday 03.35 GMT. The US dollar has retreated from recent highs, leaving counterparts across the Asia-Pacific region firmer. US Treasuries are eyeing their first rise in more than a week, while stocks across Asia have followed on from a muted lead on Wall Street. The US dollar index, a measure of the US currency against a basket of […]

Members of Prime Minister Benjamin Netanyahu’s Likud party and other rightist politicians jumped to make hay of the change. Continue reading the main story Yoav Kish, a Likud member of Parliament, called for the expansion of Israeli sovereignty into the West Bank; Meir Turgeman, the chairman of Jerusalem’s municipal planning committee, said he would now bring long-frozen plans for thousands of Jewish homes in the fiercely contested […]

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 […]

Apple Inc (AAPL.O) is considering expanding into wearable glass headsets and has talked about the project with potential suppliers, Bloomberg reported citing people familiar with the matter. The wearable headset would show images, along with other information and may use augmented reality, according to the report. Chief Executive Tim Cook, who has been struggling with a slowdown in iPhone sales in recent quarters, said earlier this year […]

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 […]

Mary Jo White is stepping down as chair of the Securities and Exchange Commission, putting a spotlight on one of the many regulatory roles Donald Trump will have to fill having promised to loosen rules on the financial sector Ms White, a former federal prosecutor and defence lawyer appointed by President Barack Obama in 2013, said she would leave at the end of the Obama administration, well […]

MOSCOW — A Russian fighter jet crashed off the Syrian coast on Monday while trying to land on an aging aircraft carrier in the Mediterranean, Russian military officials said. The Russian Defense Ministry blamed a technical failure for the crash of the jet, a MIG-29, according to a ministry statement carried by the Interfax news agency. The pilot, who was the only one in the jet, ejected […]

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 […]

By Ann Saphir | WICHITA FALLS, Tex. WICHITA FALLS, Tex. Markets are betting heavily that the man Americans last week elected as their next president will enact fiscal and other policies that will boost U.S. growth and inflation, but at least one U.S. central banker is pushing back. Since Republican Donald Trump was elected U.S. president last week, the 10-year Treasury yield has climbed to its highest […]

It was naïve to believe that enough white people would hear everything Donald Trump has said in the last 18 months — let alone five years — and stand in opposition to it. Instead, they stood with it, at a rate of 58 percent. Not necessarily because they’re racists, misogynists, xenophobes or anti-Islam, exactly, but because Trump made it in their interests to do so. They did […]

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