UK taxpayers are facing a £24bn bill for decommissioning oil and gasfields in the North Sea — threatening to wipe out remaining tax revenues from an industry that has been among the Treasury’s most reliable cash cows for the past four decades. The new estimates show how the North Sea oil industry risks becoming a net drain on UK resources as it enters its sunset years and […]
One of the more cherished bits of jargon used in finance is an idea that cash may sit on the sidelines, as if piles of notes are substitute players ready to dive into the great game of markets. Investors are still sitting on large piles of cash, holding nearly 5 per cent of their portfolios in spare liquidity in December, according to data from BofA Merrill Lynch. […]
The iPhone 7 – 10 years after the release of the first iPhone, Apple is under pressure to come up with a new wonder The smartphone continues to change the world a decade after the debut of the iPhone, even as Apple is under pressure to come up with a new wonder. The iPhone—introduced by late Apple co-founder Steve Jobs on January 9, 2007—set the stage for […]
LONDON — In a deeply embarrassing episode revealed on Sunday, a senior employee of the Israeli Embassy in Britain was recorded plotting to “take down” senior British politicians critical of Israel and calling Foreign Secretary Boris Johnson “an idiot” who “ has become minister of foreign affairs without any responsibilities.” The Israeli ambassador, Mark Regev, offered a formal apology on Friday, according to a statement from the […]
In October 1938, the one-hour adaptation of H G Wells’s The War of the Worlds, directed by Orson Welles, was broadcast on CBS Radio in the United States. A story of aliens invading rural New Jersey rendered as news broadcasts and authentic-sounding updates, it was a little too convincing. There are legends of panic in the streets, mass hysteria and heart attacks. That may have been the […]
Israel’s ambassador to the UK has apologised after a senior member of his embassy staff was recorded saying he wanted to “take down” the Foreign Office minister Sir Alan Duncan. Shai Masot, the Israeli embassy’s senior political officer, said he was disappointed that Sir Alan, an outspoken critic of settlement building in the occupied West Bank, had not been “neutralised”. The official claimed, according to a recording […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on debunking misleading parallels between Reaganomics and Trumponomics and what changes the new US president’s policies will force in investor behaviour. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. The world is too different from the 1980s for Donald Trump to achieve […]
How’s your weekend going? Redditor, Law School Graduate, and nimble navigator William Craddick (/u/PleadingtheYiff / brand new Twitter handle @williamcraddick) has made quite the name for himself on Reddit’s “The_Donald” forum. In just three short months, Craddick has managed to rack up over 153,000 “post karma” and 48k “comment karma,” which (if you’re not familiar) is impressive. The guy is an incredibly effective dot-connector, perhaps owing it to his legal training – often posting lengthy reads that […]
The UK’s Brexit vote shook the cocoa futures market in 2016, pushing the commodity that is priced in sterling to levels not seen in decades. Six months on, traders are feeling a new aftershock from the UK referendum following a filing for bankruptcy protection at the end of December by the US subsidiary of a top 10 cocoa processor Transmar Group. Transmar Commodity Group filed for Chapter […]
Jared Kushner, son-in-law and advisor to President-elect Donald Trump, has held talks recently with one of China’s most politically-connected tycoons about a potential real-estate deal, raising fresh questions about conflicts of interest in the New York billionaire’s incoming administration. The 36-year old real estate developer, who is married to Ivanka Trump, met with Wu Xiahoui, chairman of Anbang, a privately owned Chinese conglomerate, as recently as November […]
Photo The Raiders’ Connor Cook, the first quarterback in N.F.L. history to make his first start in a playoff game, was hit by Jadeveon Clowney. Credit Eric Gay/Associated Press HOUSTON — Brock Osweiler redeemed himself after last month’s benching. Jadeveon Clowney established himself as a postseason force. And the Houston Texans got their first playoff victory since the 2012 season, beating the Oakland Raiders, 27-14, on Saturday. […]
Oil started the first week of 2017 with a bang but ended it with a whimper, as the Opec fireworks that dominated the last quarter gave way to the more mundane reality of monitoring if the cartel will make good on its pledged cuts. Brent crude oil briefly touched an 18-month high above $58 a barrel on the first day of trading but there was little fresh […]
The amount of money making bets that US Treasuries will fall in value climbed to a new record high over the last week in a wager that faster US economic growth and higher inflation will weigh further on government bond prices. So-called “non-commercial” speculative positions selling the 10-year Treasury futures contract have been rising since the US presidential election and hit 816,156 contracts in the week to […]
KINI ROUNDUP Here are the key headlines you may have missed yesterday, in brief. Auditor Parker Randall in spotlight Petaling Jaya Utara MP Tony Pua claimed 1MDB failed to disclose that it is local firm Afrizan Tarmili Khairul Azhar (Aftaas) that would be auditing 1MDB when it announced Parker Randall as its new auditor. “Aftaas is a member of Parker Randall International, an international association of audit […]
Dubai Opera has just celebrated its first 100 days of operation, with more than 60 shows delivered and passing the milestone of 100,000 tickets sold along the way. Whilst these achievements are ones of which everyone who works at Dubai Opera is exceptionally proud, we all recognise that we are really just starting out on the path towards our goal of regularly bringing world-class cultural, artistic and […]
Five people have been killed after a gunman opened fire in the crowded baggage claim area of Fort Lauderdale airport in Florida on Friday. The county sheriff’s office said that five people were dead and eight had been injured in the incident at the baggage carousel, which began shortly before 1pm. “We still have people fighting for their lives in the hospital,” said Rick Scott, Florida’s governor. […]
Teva Pharmaceuticals, the world’s largest maker of generic drugs, has cut its sales and profit expectations for 2017 as it braces for more pricing and competition pressure on its best-selling drug — the multiple sclerosis treatment Copaxone. The Israeli group said net revenue for full-year 2017 would now be $23.8bn-$24.5bn, compared with the $25.2bn-$26.2bn range it gave in July. Expectations for earnings per share have also been […]
Alexa made its debut as the heart of the Amazon Echo—a family of internet-connected speakers that answer questions, run apps, and let people get weather reports or order goods on Amazon Amazon’s virtual assistant Alexa is emerging as one of the big winners at this year’s Consumer Electronics Show, cropping up in TVs, cars, fridges—you name it—in what may signal a breakthrough moment for the smart technology. […]
Facebook has appointed former NBC and CNN anchor Campbell Brown to oversee its sometimes-strained relationship with the news industry, as the platform faces criticism for its role in the US presidential election. Campbell Brown, who hosted her own show on CNN until 2010, wrote in a post on Facebook that she will join its news partnerships team this month, charged with helping journalists work more effectively with […]
Nobody likes to admit going along with the consensus. It sounds better to be contrarian, and in markets there is far more money to be made when you latch on to an unpopular notion that turns out to be correct. That is how you get to buy things cheap. But sometimes the herd gets it right, even if it gets overexcited and “overshoots” its target. On balance, […]
This is the first article in our series called Cool Tools. The idea is to spotlight tools that can make your professional life easier, save you some time, or help you get more done. In this inaugural column, we focus on the $69.95 Pro Tech Toolkit from iFixit. As the accompanying video shows, most of us have lots of plastic boxes filled with tools. When it comes […]
BEIRUT // Syrian film, television, and theatre pioneer Rafiq Sebaie – best known to audiences as Abu Sayyah after one of his long-standing roles – has died at the age of 86. Sebaie died of natural causes on Thursday. He had undergone a series of operations since breaking his hip in a fall at his home last year, Syrian state media said. Often cast in tough-guy roles, […]
January 6, 2017 by: Adam Samson in New York US wage growth accelerated to the quickest pace since 2009 last month, underscoring rising inflationary pressure as President Barack Obama prepares to pass the torch to Donald Trump. Average hourly earnings climbed 0.4 per cent in December from the previous month, beating expectations for a 0.3 per cent pick-up, the Labor Department said in the final employment report […]
Never mind football’s alarmingly martial terminology. What Saban, who cut his coaching teeth on defense, noticed and passed along helped Alabama find solutions that led to 269 rushing yards — more than twice the average Washington had allowed in games this season. Continue reading the main story “It’s good for the offense,” Bobby Williams, a special assistant who has held several coaching jobs on Saban’s staffs, said […]
