The Trump Tower in New York, which currently serves as Donald Trump‘s residence in New York has just been renamed “Dump Tower” on Google Maps. The tech company has reportedly moved to fix the label immediately last Sunday, so it’s now back to its old label. Dump Tower The renaming is said to have been perpetrated last Nov. 26 around the time someone or the same person […]
By Sue-Lin Wong | DANDONG, China DANDONG, China A labour agent sat in his bus on a recent frigid morning, waiting to cross the “Friendship Bridge” at China’s main border post with North Korea. He had come to pick up migrant workers and take them to jobs in factories and restaurants in China. The single-lane bridge in the border city of Dandong is the main gateway for international trade […]
Switzerland has a world-beating position in cross-border investing: its finance industry last year managed SFr6.6tn of assets on behalf of institutions, companies and the rich. So Swiss bankers have a keen interest in the technological revolution sweeping global finance, which has profound implications for the way markets operate. That includes some of the more fantastic ideas about handing the management of clients’ assets entirely to computers — […]
Aramex founder and Wamda Capital chairman Fadi Ghandour has called on investors in the region to invest in startups in their early stages. Speaking at the 2016 Arabian Business Digital Forum, Ghandour said funding startups is a crucial part to building a healthy business ecosystem. “Not everyone like my friend Mohamed Alabbar can launch businesses with $1b. But thousands of startups, if we don’t fund them, we […]
By Andrea Hopkins | OTTAWA OTTAWA Canadian Prime Minister Justin Trudeau will not attend the funeral of Fidel Castro, his office said on Monday, days after Trudeau’s warm comments about the late Cuban leader sparked a backlash. Furore over Trudeau’s expression of sorrow at Castro’s death has erupted in both Canada and the United States. Trudeau acknowledged Sunday that Castro had been a dictator as political opponents […]
Mariah Idrissi was shopping at the Westfield London mall when she was stopped in her tracks by a stranger who asked to take her photo. Decked out in a tracksuit, a turban-style hijab and without any make-up on, she found herself being scouted by fashion label H&M. Sceptical at first as to why a western company might want a covered Muslim woman to model for them, Idrissi […]
November 28, 2016 by: Jessica Dye in New York and John Paul Rathbone in Miami Donald Trump on Monday threatened to end the Obama administration accord that restored diplomatic ties between the US and Cuba if the former Cold War foe did not negotiate a better deal with his government. Following the death of longtime Cuban leader Fidel Castro on Friday, the US president-elect tweeted that he […]
Monday 12:00 GMT. Overview Stock markets in Europe are slipping back, led by losses for embattled Italian financials, on concern about potential contagion spreading from the sector into the eurozone financial system after Italy’s reform referendum. Meanwhile the dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.1 per cent, although it is holding […]
Bail in risk – €4 Trillion Italian banking system at risk as referendum looms Sunday according to Financial Times Concerns of multiple bank failures – Eight banks at risk of failure and bail ins Monte dei Paschi di Siena, third largest by assets and mid-sized banks Popolare di Vicenza, Veneto Banca and Carige and four smaller banks Italy’s banks have €360 billion of problem loans Contagion poses risks to Unicredit, […]
Monday 11:30 GMT. Overview The dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.5 per cent, although it is holding the 100-point mark at 100.940. Stock markets in Europe are slipping back, led by losses for embattled Italian financials. Hot topic Oil is likely to loom large over the week before Wednesday’s Opec […]
Stop me if you think you’ve heard this one before. Italian bank stocks are being hit hard this morning, leading declines across European financials ahead of a key referendum on December 4 that could have major consequences for plans to revive Italy’s troubled financial system. UniCredit – Italy’s most systemically important bank – is the biggest loser, falling 4 per cent, while Banco Popolare, Banca Popolare di […]
Nov 28, 2016 12:27 pm IST Thousands of people thronged the streets of New Delhi to celebrate India’s lesbian-gay-bisexual-transgender community on Sunday. Members of the LGBT community and their supporters marched at the annual Delhi Queer Pride Parade, shouting slogans and holding placards amid growing calls to decriminalize gay sex in the country. Section 377 of the Indian penal code, a colonial-era law that was reinstated by […]
Soaring US ecommerce sales on the day after Thanksgiving have put Black Friday on course to challenge Cyber Monday as the year’s busiest online shopping day. But the opening days of the holiday shopping season have also seen heavy discounting that could weigh on retailers’ profits. US ecommerce sales hit a record $3.34bn on Black Friday, a 22 per cent increase from 2015, according to Adobe Digital […]
In these volatile times, gold is more important than ever. Bonner & Partners’ Bill Bonner explains in this two-part series, the importance of ‘real money’ and why you need it now… Many years ago, before the invention of modern money or capitalism, people still had wealth – although limited. And they still had ways of keeping track of it. The principle of “fair trade” seems to be […]
It is hard to believe that less than 50 years ago, life in the UAE relied entirely on the natural environment. When you look at photographer Richard Allenby-Pratt’s images of landscapes across the country, the devastation to the fine balance of a desert ecosystem caused by modern consumptive lifestyles is heartbreaking. Shots of the Hajar Mountains in Fujairah reveal great trenches carved out for cement production. On […]
Donald Trump has attacked Hillary Clinton’s campaign team for backing an election recount effort based on suspicions that foreign hackers rigged the vote in key states, even as the US President-elect made the unsupported claim that “millions” of Americans cast ballots illegally. Reacting to a weekend decision by the Clinton campaign to participate in a recount in Wisconsin, one of three swing states targeted for new counts by […]
Electrolux, the Swedish appliance maker, is exploring starting an “Uber for laundry” in which consumers would use their own washing machines to wash other people’s clothes. Jonas Samuelson, the new chief executive of the world’s second-biggest white goods manufacturer, told the Financial Times that Electrolux was trying to overcome big hurdles to make the project work. “We have a few fun ideas we are testing, like: how […]
JERUSALEM Israel’s security cabinet on Sunday approved the purchase of an additional 17 Lockheed Martin F-35 stealth fighter jets, bringing its total number on order to 50. Prime Minister Benjamin Netanyahu said in a statement the decision to increase the order was unanimous. Lockheed is developing three versions of the F-35 Lightning II jets for the U.S. military and nine countries that have already placed orders – […]
November 27, 2016 by: Kiran Stacey in New Delhi and David Keohane in Mumbai Indian banks will have to deposit as cash all the extra money they have been given as a result of demonetisation with the Reserve Bank of India, the central bank announced this weekend. The RBI made its sudden move after the country’s banks, flush with cash, went on a bond-buying spree, bringing down […]
A New York museum has created an exhibition to celebrate the syllable “om,” which is used in religious and yogic chants in India and around the world. The Rubin Museum of Art is set to transform its sixth floor into a participatory installation it is calling the “Om Lab” from Feb. 3 next year. For three months, visitors will be able to step into a recording booth […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on how infrastructure and fiscal policy shake-ups will play out for investors in the light of the current “Trumpflation” market rallies. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Infrastructure spending is the new zeitgeist of our age but we should have […]
November 27, 2016 by: Anne-Sylvaine Chassany in Paris French voters were heading to the polls on Sunday in a primary run-off contest predicted to give François Fillon the centre-right nomination and a good chance of becoming president of France next year. Mr Fillon, the former prime minister who unexpectedly surged to pole position with 44 per cent of the votes in a first round last Sunday, is […]
Here are the big questions we are asking at FT Markets into the week when the calendar flips over into December. Will Opec deliver a meaningful production cut? All eyes are on Vienna and Opec’s annual gathering with a keenly awaited decision on production levels. An Opec deal on Wednesday that delivers a concrete supply reduction of at least 1m barrels a day, with non-members such as […]
U.S., Peru seize $30 million in fake dollars, biggest bust ever | Reuters ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON U.S. and Peruvian agents have seized a record $30 million in counterfeit dollars in the biggest netting of fake greenbacks ever by the U.S. Secret Service, the agency said on Thursday. The stash was discovered when more than 1,500 Peruvian police, along with Secret Service agents, carried out searches […]
