After securing a deal to save 1,100 jobs at a Carrier plant in Indiana from being exported to Mexico, Trump is set to kick off his Midwest “Thank You Tour” with a speech there which is expected to get started around 2pm EST. As we pointed out earlier this morning, Trump’s deal reached with Carrier keeps 1,100 jobs in the U.S. in return for $700,000 in […]
The month that stunned investors with Donald Trump’s US election victory was a record-breaker in markets. The prospect of big tax cuts and fiscal spending from the incoming administration has stirred the market’s animal spirits, driving Wall Street into record territory, while bond prices have been hit hard by expectations of higher inflation. Here is how November played out in numbers: 13 — The dollar index — […]
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Fitbit is in advanced talks to acquire Pebble, the smartwatch pioneer and darling of crowdfunding site Kickstarter, according to several people close to the negotiations. The deal, which is in its closing stages but has not been completed, would bring intellectual property and new expertise in wearable devices to Fitbit at a time when the fitness-tracker maker is looking to expand its product range. Pebble has raised […]
To our complete shock, the Government Accountability Office has released a report blasting the Education Department’s understanding of basic mathematics and accounting concepts after finding the department drastically underestimated the costs of Obama’s student loan forgiveness programs. The 100-page report entitled “Federal Student Loans: Education Needs to Improve Its Income Driven Repayment Plan Budget Estimates” found that taxpayers could be on the hook for $137BN of student […]
By Angus McDowall and Tom Perry | BEIRUT BEIRUT Syrian rebels on Wednesday vowed to fight on in east Aleppo in the face of sudden government advances that have cut the area held by the opposition by a third in recent days and brought insurgents in the city to the brink of a catastrophic defeat. Gains by the Syrian army and its allies since last week have […]
Steven Mnuchin made his fortune by swooping in to buy IndyMac, one of the biggest casualties of the mortgage crisis, then selling it for more than twice what he paid five years later. But to Kevin Stein, deputy director of the California Reinvestment Coalition, a housing advocacy group, it sticks in the craw to see him nominated by Donald Trump to serve as the 77th US Treasury […]
By Steve Holland | NEW YORK NEW YORK Under pressure to avoid any conflict of interest, President-elect Donald Trump said on Wednesday he will be leaving his far-flung business “in total” to focus on running the country and scheduled a Dec. 15 news conference to lay out his plan. Trump announced his plans in a series of tweets but did not explain exactly what he would be […]
Wednesday 06:00 GMT Overview Markets across Asia were treading cautiously on Wednesday, following mild overnight gains for Wall Street, a weakening of the US dollar and as investors turned their attention to a meeting between Opec members later today. European bourses are expected to open with only meagre moves, with spreadbetters predicting the UK’s FTSE 100 will slip 10 points to 6,762 and Germany’s Dax to be […]
Tuesday 15:15 GMT Overview The dollar and Treasury yields are steadying, but US equities are edging lower, as stronger-than expected US GDP data raise concerns that the Federal Reserve may quicken the pace of interest rate rises. The firmer buck is adding to pressure on commodity prices, with gold selling off and oil prices sliding on scepticism over an Opec deal to curb output. Hot topic It […]
4224 28 by Adam Segal November 18, 2016 A man is silhouetted against a video screen with an Facebook logo as he poses with an Samsung S4 smartphone in this photo illustration taken in the central Bosnian town of Zenica, August 14, 2013. (Dado Ruvic/Reuters) Here is a quick round-up of this week’s technology headlines and related stories you may have missed: 1. Disinformation. Disinformation everywhere. Since Donald Trump’s […]
American Airlines has selected IBM Cloud to be a service provider as it moves its internal applications to the public cloud. The airline has said that it was looking to move some of its customer web site and back office applications to the public cloud. American Airlines was evaluating Amazon Web Services, IBM and Microsoft. Terms of the deal weren’t disclosed. IBM said that American will use […]
Tuesday 06:00 GMT Overview Markets across Asia were trading cautiously as Wall Street and the US dollar weakened overnight and the price of oil has pulled back. European bourses are expected to open a touch weaker, with spreadbetters predicting the UK’s FTSE 100 will slip about 10 points to 6,790 and Germany’s Dax to drop 20 points to 10,562. US index futures suggest the S&P 500 will […]
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 […]
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 […]
Given its enormity, India offers an array of local specialities. From clothing and gemstones to handicrafts and fabrics, every region has its own retail identity. One of the benefits of visiting Delhi, its capital city, is that it eloquently showcases a cross section of the country’s regional specialities, and over the past decade, the ancient city has grown rapidly beyond the exquisite and conventional to include whimsical […]
TOKYO Oil prices tumbled on Monday on fears that producer countries may fail to agree an output cut, pressuring U.S. stocks and the dollar as traders reversed their “Trumpflation” trade as weak oil prices would reduce pressure on U.S. interest rates to rise. That gave some relief to Asian shares, which had underperformed on worries about capital flight to higher-yielding U.S markets in the weeks since Donald […]
By Isabel Coles | GOGJALI, Iraq GOGJALI, Iraq Until three weeks ago, many of Abu Osama’s customers were Islamic State militants who brought their wives and children to his pharmacy on the eastern edge of Mosul for injections and treatment. Now, most of them are Iraqi security forces who recaptured the Gogjali neighborhood earlier this month and are pushing further into the city, which has been under […]
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 […]
Your daily guide to community and cultural activities across the Emirates for November 27, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. newslide Abu Dhabi Art exhibition See No White Walls, featuring works created by professional artists in the UAE who have collaborated on an initiative to develop the art scene in Abu Dhabi by staging exhibitions […]
Jenny Strasburg/The Wall Street Journal Early Friday morning, FBI agents arrested a longtime SAC Capital portfolio manager, Michael Steinberg, on insider-trading charges, making him the most senior employee of one of the nation’s most prominent hedge funds to be snared in the government’s sprawling probe. (via WSJ)
By Noel Randewich | SAN FRANCISCO SAN FRANCISCO Wall Street expects consumers to open their wallets a little wider this holiday shopping season but bargains among red-hot retail stocks could be hard to find, especially as profit growth proves elusive for many big names. Retailers, including Best Buy, Kohls Corp and Macy’s, that were pummeled in last year’s disappointing holiday quarter have seen their shares surge recently […]
If breakfast is the most important meal of the day, why not have it for lunch and dinner, too? It seems the all-day breakfast trend is being embraced by cafes across the UAE, with options appearing at many venues. Much like the age-old chicken or the egg question, it is unclear whether the birth of the ‘Breakfastarians’ – a term popularised on the internet and in IHOP […]
By Lisa Lambert | WASHINGTON WASHINGTON Lender GE Capital asked the U.S. government on Thursday to stop designating it as “too big to fail,” saying it had shrunk to the point where it would not pose a major threat to the nation’s financial stability if it experiences distress. Chief Executive Officer Keith Sherin said in a statement that the General Electric Co (GE.N) unit no longer met […]
