By Anthony Esposito | MONTERREY, Mexico MONTERREY, Mexico Engineers from across Mexico streamed into a cramped hotel lobby in the industrial city of Monterrey for a chance of a job with the U.S. electric vehicle maker Tesla Inc (TSLA.O), which is looking south of the border for talent in short supply at home. The fair was held at a delicate time for American firms hiring abroad as […]
Aldar Properties on Saturday announced that all homes in the third tower of its The Bridges affordable project has sold out. Following the strong demand for the first two towers of The Bridges at Cityscape Abu Dhabi, Aldar said the apartments in tower 3 were sold in just four hours, taking the total value of sales across all three towers to AED600 million ($163 million). Unit prices […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. The image of power was simple: Jared Kushner and Ivanka Trump walking off Marine One Thursday, hand-in-hand, and boarding Air Force One for a short trek to New York City with Kushner’s father-in-law. Yes, Jared Kushner, trusted power broker, to […]
Invesco’s move to snap up Source, the London-based exchange traded fund provider, has thrust the US asset manager into the centre of an increasingly ferocious battle across Europe’s passive investment industry. European fund managers now face another formidable US competitor in addition to the existing heavyweights BlackRock and Vanguard, which are pursuing a cut-throat ETF price war as they expand their presence in Europe. Atlanta-based Invesco already […]
Representatives from the Kushner family descended upon the Ritz Carlton in Beijing to pitch wealthy Chinese the EB-5 visa program aka crony capitalism. Nicole Kushner, Jared’s sister, was alleged to be in attendance. The pitch was “Invest early, and you will invest under the old rules,” according to the Washington Post. The event, which was closed to foreign press, was hosted by the Chinese company Qiaowai — who […]
By Jonathan Cable | LONDON LONDON The fate of the European Union and the euro could hang on the outcome of Sunday’s French presidential election. The expected victory of centrist, pro-EU candidate Emmanuel Macron would be taken by markets as a sign that political risk in Europe is receding; a surprise win for far-right candidate Marine Le Pen would raise the risk that the euro zone’s number […]
Shifting of cases from FBR HQ to ‘inexperienced’ field formations raises eyebrows PHOTO: AFP ISLAMABAD: After a one-year hiatus, the government has shifted over 400 cases against persons named in the Panama Papers from the Federal Board of Revenue (FBR) Headquarters to its field formations, raising concerns that the authorities intend to bury the issue like many other high-profile cases. The decision shows that the federal government has […]
ABU DHABI // Bangladeshis are calling for an end to the visa ban on their citizens, as it leaves them with few job opportunities and makes them vulnerable to abuse from employers. There has been a ban on any new visas being issued to Bangladeshis since 2012 because of the high crime rate among their compatriots. Professionals claim they are being forced to pay for visa renewals […]
A UAE-based team is entering the world-famous Gumball 3000 rally, a 3,000-mile adventure around Europe. The five members of the team have unveiled the three cars to be driven during the race from Riga, Latvia to Mykonos, Greece taking place from July 1-8. Sheikh Mohamed Al Thani, chairman and co-founder of Musafir.com, along with Mohammed Al Othman, Masoud Mohammed, Raed Zidan and Omar Zidan showcased their Rolls […]
Wall Street people underestimated how nasty and political the struggle over the post-Brexit fate of European clearing houses would become. This week the European Commission offered threats to London-based clearing houses and inducements for their customers to move their trade to the EU. €650bn Value of euro-denominated trades that clear through London each business day UK negotiators in turn demand that euro derivatives clearing should stay in […]
The Jewel of the Creek project in Dubai, which will include hotels, apartments, offices and a conference centre, is set to be completed in the first half of 2019. Dubai’s transport authority said in a statement that it has awarded a AED375 contract for roads and tunnels leading to the project, which is being built between Al Maktoum Bridge, Baniyas Road and the Floating Bridge covering a […]
By Ann Saphir | PALO ALTO PALO ALTO San Francisco Federal Reserve Bank President John Williams on Saturday reiterated his view that the U.S. central bank should begin trimming its massive balance sheet later this year, in part so the Fed has more tools at the ready when the next recession hits. He was the fourth Fed official in two days to suggest the Fed may need […]
When she joined The Outline from Gizmodo Media Group a few weeks ago, Executive Editor Katie Drummond expressed a desire to start breaking more news at the five-month old digital media startup. Today, she’s hiring a scoopy cybersecurity reporter from her former employer to make good on that pledge. William Turton, the 19-year-old who’s been covering tech and gaming since he was 14, is joining The Outline […]
Government agencies want their own backdoor into communications. Image: iStockphoto More details of how the UK’s new surveillance law will operate have been revealed, in details about the use of encryption. Under draft regulations to support the new Investigatory Powers Act, the government will be able to issue ‘technical capability notices’ to companies with more than 10,000 UK users to make it easier for police, spy agencies […]
France could play Test matches in the coming two seasons in the United Arab Emirates, French federation president Bernard Laporte said Saturday. Talking after signing a memorandum of understanding with the UAE rugby federation, Laporte said staging France matches overseas would “help develop rugby in the UAE and the region”. Emirati federation general secretary Qais al-Dhalai, quoted by Gulf News, said: “A proper Test match between France […]
A corner of Wall Street has been gripped by the unknown identity of a trader that has been buying up Vix call options priced at 50 cents each, swelling to account for nearly 10 per cent of the listed market. The FT has now reported that bankers with knowledge of the trades say the so-called “50 Cent” – a reference to the American rapper known for his […]
FRANKFURT Shareholder adviser Ivox Glass Lewis has called on Linde (LING.DE) investors to vote against signing off on the actions of its management and supervisory board due to problems in the handling of a planned merger with peer Praxair (PX.N). The all-share merger of equals would reunite a global industrial gases company that split in World War One and would create a market leader to rival Air […]
The U.S. job market saw a strong rebound in April, driving the unemployment rate to the lowest level in a decade. The economy saw 211,000 jobs added in April, according to new government data released on Friday, May 5. The job market boost dropped the unemployment rate to 4.4 percent, the lowest level since May 2007. The latest stats should calm some fears about the state of the […]
Qatar Airways has announced that it will operate a third daily non-stop route from Doha’s Hamad International Airport to Bali Denpasar from Sunday. Bali has long been a popular destination for Qatar Airways’ passengers, with the airline offering its first direct service in 2014, later enhancing this to a twice daily frequency. Qatar Airways Group CEO Akbar Al Baker said: “The start of triple daily non-stop services […]
Islamabad: The three-member bench of the Supreme Court overseeing the implementation of the apex court’s verdict in the Panama papers case on Friday named the five members who will probe Prime Minister Nawaz Sharif and his family business dealings abroad. File image of Nawaz Sharif. AP The officials included in the inquiry team are Brigadier Nauman Saeed from the Inter-Services Intelligence, Aamer Aziz from the State Bank […]
America First Policies Group type: 501(c)(4) nonprofit Why it matters: America First Policies grew out of Trump’s political operation. Headed by Brad Parscale, who ran the digital and data portion of Trump’s campaign, and featuring a coterie of former aides, it was meant to serve as a quasi-independent outside group providing support for the president’s initiatives. Parscale has said America First Policies had raised around $25 million. […]
By Jonathan Stempel | OMAHA, Neb. OMAHA, Neb. Warren Buffett on Saturday faulted Wells Fargo & Co’s (WFC.N) previous management for failing to take action immediately upon learning that its employees were signing up customers for bogus accounts, causing a national scandal. Buffett spoke at the annual meeting of Berkshire Hathaway Inc (BRKa.N), which he chairs, and where he and Vice Chairman Charlie Munger are fielding five […]
United Airlines has some serious competition when it comes to the lousy treatment of passengers, as Delta Air kicked an entire family off a flight and threatened them with jail and foster care. Airlines recently came under heavy scrutiny after United Airlines dragged and bloodied a passenger off an overbooked flight. The whole thing was caught on camera and went viral, drawing more attention to how passengers are sometimes […]
Saudi women no longer need a man’s consent to carry out certain activities, local media reported on Friday, but activists said the royal order does not go far enough. Saudi Arabia has some of the world’s tightest restrictions on women, and is the only country where they are not allowed to drive. Under the guardianship system a male family member, normally the father, husband or brother, must […]
