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Warren Buffett’s compensation for running Berkshire Hathaway Inc (BRKa.N) edged up 4.0 percent last year to $487,881 reflecting the higher cost of keeping the world’s second-richest person safe. Buffett’s pay was disclosed in a Friday regulatory filing, in which Berkshire also recommended the rejection of three shareholder proposals at its May 6 annual meeting, including that it disclose its political contributions twice a year. Berkshire said Buffett’s […]

Sprint and U.S. Cellular have also announced the sale of LG G6 on their networks. This move comes close on the heels of Verizon Wireless, AT&T and T-Mobile sharing their offers for the LG G6. What Is Sprint Offering? Like Verizon, Sprint is also ready to accept pre-orders for the LG G6. The latter has also put up a lucrative offer, wherein it is offering a Google Home […]

The GCC mobile phone market returned to growth in the final quarter of 2016 after suffering three consecutive quarter-on-quarter declines, according to the International Data Corporation (IDC). The global technology research and consulting firm said the region saw the shipment of 5.98 million units in Q4, up 7.7 percent on the previous quarter. When viewed year on year, however, the shipment numbers for Q4 were still down […]

SEOUL South Korean prosecutors will question the chairman of the SK Group on Saturday in connection with an influence-peddling scandal that brought down President Park Geun-hye, the company and the Yonhap news agency said. Park, South Korea’s first democratically elected leader to be removed from office, faces allegations that she colluded with a friend, Choi Soon-sil, to pressure big businesses to donate to foundations set up to […]

By Ben Blanchard | BEIJING BEIJING China is likely to express its anger at being told to rein in nuclear-armed North Korea when U.S. Secretary of State Rex Tillerson arrives in Beijing on Saturday, his first visit to the country since taking office last month. Beijing is expected to call on Washington to share responsibility in lessening tensions in the region, while strongly opposing this month’s deployment […]

The Partnership for Open & Fair Skies, a coalition of top US airlines and unions, has sent an open letter to President Donald Trump, urging action to address alleged trade violations by the UAE and Qatar The letter, which has been published in the New York Times and the New York Post, claims that the emergence of Emirates, Etihad Airways and Qatar Airways on US routes threaten […]

By Caroline Valetkevitch | NEW YORK NEW YORK Small-cap stocks benefited from a dovish lining to the U.S. Federal Reserve’s decision to raise interest rates this past week, but strategists warn it will take more to make these pricey stocks outperform their larger brethren in the long haul. The Fed on Wednesday raised rates by a quarter of a percentage point, as expected, but did not flag […]

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AIG’s outgoing chief executive Peter Hancock is in line for a $5m payment on top of his regular pay deal, part of an exit package that the insurer said was “consistent with a termination without cause”. The disclosure comes a week after AIG rocked the insurance sector when the company said its chief was leaving after less than three years at the helm following a series of […]

UAE-based retailer Paris Gallery has announced plans to open 30 new stores across the Middle East over the next five years. The company said in a statement that its expansion would focus mainly on the Gulf region and would see its workforce grow to about 5,100 employees, up from 3,500. The total projected retail area in operation will reach 3.2 million square feet by 2021, it added. […]

Brazilian outsourcing firm Stefanini IT Solutions has appointed a new chief executive for its operations in North America and Asia-Pacific. Former IBM head for global technology services Spencer Gracias will be leading the business for both regions, after joining the company as vice president in July 2016. Based at the firm’s Detroit offices, Gracias replaces Antonio Moreira, who had been leading Stefanini’s US presence since its launch […]

By Lisa Baertlein | LOS ANGELES LOS ANGELES McDonald’s Corp (MCD.N) investors will vote soon on whether to give the franchisees who operate most of the fast-food chain’s restaurants the opportunity to elect a board member, the proponent of a shareholder proposal said on Friday. The proposal, which faces long odds of success, is believed to be the first of its kind and has attracted great interest […]

Havas, the French media agency, has joined the British government in pulling all of its digital ad spending from Google and YouTube in the UK, after it was revealed that government and corporate advertisements were being displayed alongside videos that advocate extremism. Havas, one of the world’s largest marketing groups, spends about £175m on digital advertising in the UK annually. It said it was also considering a […]

Humans, especially Americans, are kind of slobs. We mess up the Earth by throwing out about 4.5 pounds of garbage per person on average every day. Two-thirds of that waste could be composted, but isn’t. And half of the rest of it could be recycled, according to research from the Duke Nicholas School of the Environment, corroborated by studies from the Global Footprint Network and others. Now, […]

Emirates has unveiled a new Real Madrid decal on its iconic A380. Making its first touchdown at Adolfo Suárez Madrid-Barajas airport, the Emirates A380 has been emblazoned with the image of Real Madrid footballing giants. The plane’s eye-catching decal features some of the club’s world-class players including Cristiano Ronaldo, Gareth Bale, Sergio Ramos, Karim Benzema and Marcelo. Visible from both sides of the plane, the bespoke decal […]

By Jeff Mason and Andreas Rinke | WASHINGTON WASHINGTON President Donald Trump reiterated his strong support for NATO on Friday and pressed German Chancellor Angela Merkel to meet NATO’s military spending target, in the first face-to-face meeting between the two leaders. The meeting between the leader of Europe’s largest economy and the U.S. president was billed as one that could help determine the future of the transatlantic […]

Modcloth was founded in 2002 in Pittsburgh by Susan Koger. Walmart is buying Modcloth, an online retailer known for its vintage and geek-chic fashion designed to a range of female body types. Financial terms were not disclosed, but Walmart said it acquired Modcloth’s assets and operations and that the deal has already closed. Modcloth was founded in 2002 in Pittsburgh by Susan Koger, then a student at […]

STUTTGART, Germany Porsche (VOWG_p.DE) will invest hundreds of millions of euros in digital services to generate the revenue needed to offset an expected decline in car sales in the coming years, its finance chief said on Friday. Growing demand for ride-hailing and car-sharing will make the part-time use of vehicles, including Porsches, as convenient as ownership in seven to 10 years and that could dent new car […]

Plans have been revealed for the first residential community of private “green” villas and townhouses at Masdar City, Abu Dhabi’s flagship sustainable urban development. LEAD Development and Project Management Consultants (LEAD) and The National Investor (TNI) will build the project, which will also include apartments, and is to be delivered over 250,000 sq m of gross floor area. The freehold real estate development will accommodate around 5,000 […]

Despite the surge in interest and sales of modern data discovery tools like SAP BusinessObjects Lumira and SAP BusinessObjects Cloud, corporations are still really, really interested in reporting. At the recent Gartner Data & Analytics event in Texas, Cindi Howson showed that descriptive analytics remains by far the most common type of analysis that companies do in the real world. Last year, Gartner redefined the BI and […]

UAE-based developer Azizi Developments has announced that the total construction work on its Royal Bay project in Dubai is 80 percent complete. The upcoming 90-unit Azizi Royal Bay serviced apartments will be located on Palm Jumeirah and will offer 58 one-bedroom, 30 two-bedroom, and two penthouses with private beach access. Azizi said in a statement that the project is due to be completed by the end of […]

As part of sweeping efforts to reduce regulation and boost business, President Trump this week announced plans to relax fuel economy standards. The Corporate Average Fuel Economy (CAFE) standards, which were implemented decades ago but accelerated under President Obama, call for automakers to reach a fleetwide average 54.5 miles per gallon by 2025. In typical deal-maker fashion, Trump went to Detroit to announce the easing […]

Tiffany & Co (TIF.N) reported fourth-quarter profit ahead of analysts’ estimates as it sold more jewelry in Japan and China, sending shares to a 19-month high in morning trading on Friday. Sales in Japan were bolstered by the brand exposure Tiffany got through a popular television show last year and a strong yen helped boost spending by Japanese tourists in other regions, Tiffany’s Chairman and interim Chief […]

Secretary of State Rex Tillerson, the former Exxon CEO, is undoubtedly familiar with “tone at the top,” a term coined by audit firms and drilled home by business ethicists in the wake of financial scandals at Xerox, Enron and Arthur Andersen. When corporate leaders fail to model tone at the top by upholding principles, corners are cut and lapses trickle down and poison institutional culture. And yet […]

Doha Festival City, which is due to open next month, has revealed its plans for a 3km outdoor leisure trail. Visitors to the new shopping mall will have free access to the trail, which includes a running and walking path, as well as an adjacent cycling lane with technical trail features specifically designed for mountain bikes, a statement said. The mall has postponed its opening date several […]

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