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. Imagine the reporters who must cover daily a bombastic New Yorker who has inherited a fortune, exudes a sense of entitlement, disdains much of the press, trafficks in half-truths, has overseen properties in huge disrepair, routinely overrules underlings, disdains public […]
WASHINGTON – U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month’s data and a jump in permits to a one-year high suggested the housing recovery remained on track. Housing starts declined 2.6 percent to a seasonally adjusted annual rate of 1.25 million units, the Commerce Department said on Thursday. December’s starts were revised up to a […]
Now money from the tag auction goes to the general big-game budget of about $10 million, according to Regina Abella, California’s desert bighorn sheep coordinator. That makes it harder to discern exactly how and where the $223,250 will be spent. But no other game tags come close to creating the kind of revenues that the sheep tag does, Abella said. The elk tag might attract $30,000. Continue […]
In 2017 and beyond, consumers will finally start to benefit from some of the innovations that have been evolving over the past year, from 3D prosthetics to customised insurance packages. Many of these trends will be cemented in our routine lives over the next couple of years. Innovative insurance A new era has dawned on the UAE’s insurance industry since the rollout of the Dubai Health Authority’s […]
VIENNA Austria filed a lawsuit on Thursday against Airbus (AIR.PA) and the Eurofighter consortium, alleging them of wilful deception and fraud linked to a 2 billion euro ($2.1 billion) order for Eurofighter jets in 2003, the defense ministry said. A recently completed ministry investigation found that Airbus and Eurofighter (BAES.L) (LDOF.MI), with fraudulent intent, misled Austria about the purchase price, the deliverability and the equipment of the […]
Record sales of non-performing loans are expected in Europe this year with a more urgent approach from policymakers driving increased activity, according to Deloitte. As much as €200bn of debt could be sold during 2017, almost double last year’s total of just over €100bn of sales, said the professional services group, which advises banks and investors on NPL transactions. Europe’s banking sector is weighed down by more […]
Fintech has been gaining momentum across the globe due to the ability of disruptive technology to empower people to avoid being overcharged and underserviced when it comes to handling their money. As the sector moves away from a fad and into a more mature industry that is now seriously impacting the financial world, it is an exciting time for all parties involved. Digital wallets will be owned […]
Seven journalists were laid off from the San Diego Union-Tribune on Tuesday, editor and publisher Jeff Light said in a memo to staffers. “I feel badly about these difficult decisions,” Light said. “Everyone we are saying goodbye to is a dedicated journalist and a valued colleague. Some have spent decades at the U-T.” “In an organization of our size, it is a small number,” he continued. “But […]
Feb 16, 2017 10:46 am IST The decision of Indian Prime Minister Narendra Modi to do away with large-denomination notes in November led to a temporary cash shortage that slowed the economy and forced people to queue at banks to get money. New Delhi touted its move as an opportunity to make India’s economy less dependent on cash, saying it will help it shrink the black economy […]
By Lisa Baertlein and Paul Ingram | NOGALES, Arizona NOGALES, Arizona For up to 16 hours a day, tomatoes, peppers, cucumbers and mangoes grown in Mexico flow north through a border checkpoint into Nogales, Arizona, helping to ensure a year-round supply of fresh produce across the United States. This is a city built on cross-border trade. Each year, some 330,000 trucks and 75,000 train cars carrying $17 […]
Developer Nakheel said on Wednesday it has begun work on a new 55-storey residential tower, 16-screen cinema complex, multi-storey car park and retail expansion at Ibn Battuta Mall in Dubai. Nakheel said in a statement that has awarded a contract o Dubai-based National Gulf Constructions for enabling works at the site, located on the southern side of the mall, adjacent to The Gardens community. The new AED850 […]
New Zealand telecommunications provider Spark has announced its financial results for the first half of FY17, reporting earnings before interest, tax, depreciation, and amortisation (EBITDA) of NZ$471 million, up 3.5 percent. Revenue was up by 4.1 percent, to NZ$1.79 billion, while earnings after tax amounted to NZ$178 million, up 12.7 percent. Capex increased by 3.7 percent for a total of NZ$224 million, and opex was up by […]
By Joyce Lee and Hyunjoo Jin | SEOUL SEOUL A South Korean judge questioned Samsung Group leader Jay Y. Lee and another executive behind closed doors on Thursday to decide whether they should be arrested over their roles in a corruption scandal that has engulfed President Park Geun-hye. Dozens of protesters surrounded by riot police met Lee, 48, who was wearing a dark coat and navy tie […]
Details have been revealed about plans to build the first Legoland Hotel in the Middle East in Dubai. DXB Entertainments, a Dubai-based company, and Merlin Entertainments Group, one of the world’s biggest theme park and attraction operators, will open the hotel at Dubai Parks and Resorts. Every room in the first Legoland Hotel in the Middle East and the seventh to open worldwide will have Lego models […]
Japan External Trade Organization highlights health benefits of Japanese diet and the use of authentic Japanese ingredients in World Cuisine at Food Tasting Seminar US$ 51 million worth of Japanese food and beverage exports to the UAE in 2016 Japanese diet considered one of the healthiest in the world Participating in Gulfood 2017 for the fourth consecutive year with over 40 Japanese food companies supports efforts in […]
NORTH CHARLESTON, S.C. Boeing Co defeated a union drive by workers at the company’s aircraft factory in South Carolina on Wednesday, as workers voted to reject union representation. The secret ballot vote, conducted by the National Labor Relations Board (NLRB) at polling locations throughout the North Charleston plant, was the first for Boeing and a high-profile test for organized labor in the nation’s most strongly anti-union state. […]
About 10 years have passed since Google’s stalwart engineers started creating a system that, in all reality, defeats the conventional logic of database services. It’s now named Cloud Spanner, and it’s the first global database — an information storage system spanning millions of machines across data centers placed all throughout the world, which Google itself has long used to maintain proprietary services like Gmail, Google Photos and […]
Until Tesla’s UAE launch earlier this week, owning one of the Californian carmaker’s already-iconic cars here seemed little more than a pipe dream for most of us without the means or time to import one – let alone the practicalities of running a fully electric car in a country with limited charging options. Now, however, with the Model S and X open for orders, for delivery in […]
SEOUL Samsung Group chief Jay Y. Lee appeared at South Korea’s special prosecutor’s office on Thursday before a court hearing that will decide whether to issue an arrest warrant over his role in a corruption scandal that has engulfed President Park Geun-hye. South Korea’s special prosecutor’s office said on Wednesday it had expanded charges against Lee to include hiding the proceeds of a criminal act, as well […]
Upon the closing of the proposed merger between Computer Sciences Corp (CSC) and the Enterprise Services business of Hewlett Packard Enterprise (HPE), the new organisation will be renamed to DXC Technology before it begins its journey as a $26 billion IT services giant. The completion of the merger is slated for April 3, 2017, which will see DXC Technology list on the New York Stock Exchange under […]
By Sarah N. Lynch | WASHINGTON WASHINGTON In a blow to President Donald Trump as he tries to assemble his administration, his nominee for labour secretary, Andrew Puzder, withdrew his name from consideration on Wednesday amid concerns that he could not garner enough Senate votes to be confirmed. Puzder’s decision to withdraw is yet another setback this week for a White House still grappling with fallout from […]
The UAE ambassador to Afghanistan who was badly injured in a bomb attack in Kandahar province last month has died, it was announced on Wednesday. Juma Mohammed Abdullah al-Kaabi was caught up in the attack that killed 11 others at the Kandahar governor’s guesthouse on January 10. “With great sadness and sorrow, we mourn the martyr of the nation and his duty, the righteous son Juma Mohammed […]
Muscat, 15 February 2017 Dentons advised Al Anwar Holdings SAOG on the sale of 20.35% of its shareholding in Falcon Insurance Company SAOC (FIC) for a consideration of OMR 1.876 per share to Arabia Insurance Company S.A.L’s (AIC) affiliates, namely Arabia S.A.L. and Lawrence Investment LLC (Under Formation). The transaction also involved a simultaneous acquisition of the business, assets and liabilities of AIC’s Oman branch by FIC, […]
By Michael Flaherty and Siddharth Cavale Procter & Gamble Co (PG.N), maker of Tide detergent and Gillette razors, will face ever greater pressure to slice costs and slow-growing divisions now that activist investor Trian Partners is a major shareholder. P&G’s shares hit a two-year high on Wednesday after Trian disclosed a stake in the consumer products behemoth, which is already trying to slim down by selling unprofitable […]
