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 […]
The UAE on Friday delayed the start-up of its first nuclear reactor until next year for further safety checks because regulators have not yet granted an operating licence. The reactor, one of four being built at the $20-billion Barakah plant west of Abu Dhabi by a consortium led by Korea Electric Power Corp (KEPCO), had been due to begin operating this year. But UAE nuclear regulators are […]
MILAN Loss-making airline Alitalia, which asked to be put under special administration on Tuesday, had debts of around 3 billion euros ($3.3 billion) as of Feb. 28, Italy’s government said. In a document marking the opening of the special administration process and the appointment of three commissioners that will run the airline from now on, the government said on Saturday Alitalia had current liabilities of around 2.3 […]
The German luxury car maker BMW saw its net profit rise by nearly a third in the first three months of the year as sales increased, helped by profitable 4x4s and the 7-Series large saloon. The Munich-based firmr said Thursday that it made €2.15 billion (Dh8.62bn) in the first quarter, up 31 per cent on the €1.64bn in the year-earlier quarter. Profits were also boosted by a […]
Most sectors in the Middle East are likely to adopt a “wait and see” policy on hiring during 2017 as companies monitor market conditions, according to a new report. Recruitment agency Michael Page Middle East said real estate firms are most likely to buck this trend, with signs that hiring activity is returning as liquidity enters the market. The report added that, following a move to reduce […]
By Lawrence Delevingne | NEW YORK NEW YORK Paul Singer’s hedge fund firm Elliott Management Corp raised more than $5 billion in about 24 hours this week, citing a major potential investment opportunity at a time when Singer said financial markets could face a disruption after being distorted by years of economic stimulus. Singer, in an email to investors on Wednesday announcing the offering of up to […]
The Week in Fact-Checking is a newsletter from the American Press Institute and Poynter. Want it in your inbox every week? Subscribe here. In 2016, U.S. fact-checkers drew record traffic — but the Pants-on-Fire candidate still became the Pants-on-Fire president. This complicated reality could have led to big changes to the ways fact-checking is conducted in America. Yet the formats, tone and methods adopted by fact-checkers have […]
The slowdown in the UAE’s non-oil real GDP growth appears to have bottomed out and Dubai can expect a 2 percent Expo 2020 boost to its GDP, according to a new report by Bank of America Merrill Lynch. Its report said that the UAE has managed a soft landing, with a less pronounced cycle than in the global financial crisis in 2008. It noted that incremental government […]
Not what you want to see at the start a long work day or business trip! Picture this: You’re leaving your home or office in 20 minutes and your smartphone’s battery is almost dead. How do you get the maximum amount of charge into the device in the shortest amount of time? Here’s the best method I’ve found, and it works well for iPhone and Android smartphones, […]
May 6, 2017 by: Jeevan Vasagar in Singapore and Michael Peel in Bangkok Puma Energy, the fuel storage and petrol station business backed by Swiss commodities trading house Trafigura, wants to expand in Myanmar across a range of fuel and petroleum products after opening a $100m storage facility at the southern port of Thilawa. The new terminal, with a capacity of 91m cubic metres, opens the prospect […]
By Dan Levine and Joseph Menn The city of Portland, Oregon plans to subpoena Uber Technologies Inc to force it to disclose software that helped its drivers evade local transportation regulators, a city official said on Friday. Uber has acknowledged using the software, known as Greyball, to circumvent government officials who were trying to clamp down on Uber in areas where its service had not yet been […]
Business conditions in Saudi Arabia’s non-oil private sector continued to improve at the start of the second quarter, with rates of expansion in new work and business activity gathering pace, according to a new survey. Data from the Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) showed that firms were encouraged to engage in purchasing activity, which in turn led to the strongest accumulation in stocks of […]
HuffPost’s longtime D.C. Bureau Chief Ryan Grim is leaving the company, HuffPost Editor-in-Chief Lydia Polgreen announced in a memo Friday. “I will miss his wise counsel, his passion and his fine mind, and I know you all will too,” Polgreen said. “I will be hosting a farewell bash for Ryan in DC on Tuesday evening — stay tuned for details. I will also be holding a town […]
Emirates has announced that all of its flights to Spain will be operated by the A380 superjumbo from September. In addition to the existing double daily A380 service to Barcelona, the airline said in a statement that it will operate a double daily A380 service to Madrid, significantly boosting seat capacity from Dubai to Spain. Commencing on September 1, Emirates flights EK143/144 will be operated by an […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate increase next month despite moderate wage growth. Nonfarm payrolls surged by 211,000 jobs last month after a paltry gain of 79,000 in March, the Labor Department said […]
A cyclone more than 9,000 miles away from Omaha, Nebraska, where more than 30,000 Berkshire Hathaway shareholders are gathered for an annual meeting they call the Woodstock of Capitalism, has put a slight damper on the festivities. Profits at Warren Buffett’s company fell 27 per cent in the first quarter to $4.06bn, or $2,469 per share, as the company’s insurance business paid out millions for claims related […]
North America, the UK, Germany and Australia remain the top property investment destination for UAE residents, according to a YouGov survey conducted by IP Global, the property investment firm. The survey results showed that when it comes to investing in property abroad, the US and Canada are the most popular markets among UAE citizens. Chicago and Los Angeles were highlighted as popular investment destinations in the US. […]
