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“We open a new hotel every 36 hours,” Sébastien Bazin remarks, after outlining the impressive portfolio of French hospitality chain AccorHotels, with 4,100 hotels spread across 95 countries and employing 240,000 people. The significant sum includes properties gained through the recent acquisition of FRHI, a hotel management company formerly owned by Qatar Investment Authority, billionaire Saudi Prince Alwaleed bin Talal’s private investment arm Kingdom Holding and Oxford […]

By Lisa Richwine | LOS ANGELES LOS ANGELES Sony Entertainment Chief Executive Michael Lynton will step down to become chairman of messaging app owner Snap Inc, a move that puts an experienced Hollywood executive in a prominent role as the technology company prepares for an initial public offering. Lynton will give up his current role at Sony’s movie and television unit on Feb. 2 but remain as […]

By Jonathan Landay and Arshad Mohammed | WASHINGTON WASHINGTON Michael Flynn, President-elect Donald Trump’s choice for national security adviser, held five phone calls with Russia’s ambassador to Washington on the day the United States retaliated for Moscow’s interference in the U.S. presidential election, three sources familiar with the matter said. The calls occurred between the time the Russian embassy was told about U.S. sanctions and the announcement […]

Revolutions are only relevant until the next revolution comes along. Over the past decade, the smartphone revolution has fundamentally upended daily life. Walk through any public space and you will find people of all backgrounds transfixed by pocket-sized, rectangular obelisks. These little wonder slabs magically connect us to the rest of humanity and are personal windows into the digital ghost dimension that flows beneath civilization’s surface. […]

Michael Lynton is stepping down as chief executive of Sony Entertainment to become chairman of Snap, the owner of messaging start-up Snapchat that is heading towards an initial public offering this year with a likely valuation of about $25bn. Mr Lynton has had a long friendship with Evan Spiegel, Snapchat’s founder, and was also an early investor in the company. “I have been involved with Evan and […]

By Kylie MacLellan | LONDON LONDON The British government must publish a detailed plan for Brexit by mid-February setting out its position on future membership of the European Union’s single market and customs union, a committee of lawmakers said in a report published on Saturday. Parliament’s Exiting the EU committee, made up of lawmakers from several parties including Prime Minister Theresa May’s Conservatives and opposition Labour, also […]

There is a reason Rolls-Royce Motors appointed its youngest-ever chief executive in 2010. “I don’t want to say the brand would die, but the brand would never have had the success it has had over the last couple of years if we hadn’t rejuvenated it,” CEO Torsten Müller-Ötvös boasts. He is probably right. Until a couple of years ago, the English automobile brand was predominantly known as […]

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Submitted by Patrick Buchanan via Buchanan.org, “Fake news!” roared Donald Trump, the work of “sick people.” The president-elect was referring to a 35-page dossier of lurid details of his alleged sexual misconduct in Russia, worked up by a former British spy. A two-page summary of the 35 pages had been added to Trump’s briefing by the CIA and FBI — and then leaked to CNN. This is […]

Twitter Brazil has appointed its former agency head Fiamma Zarife as the new managing director for the country. “I’m proud to have been assigned the mission to lead Twitter’s operation in Brazil and continue the work that was started in 2012,” Zarife says. Zarife will lead the Brazilian business for the microblogging service, replacing Guilherme Ribenboim, who will remain at the firm as president for the Latin […]

An increase in Facebook pushed the Nasdaq to a record high on Friday, and the S&P 500 also rose after major U.S. banks kicked off the fourth-quarter earnings season with strong results. Wall Street has surged since President-elect Trump’s unexpected election victory on optimism he will cut corporate taxes, spend on infrastructure and deregulate banks. With stocks trading at price-to-earnings valuations well above historical averages, many investors […]

A cosmic “spitball” game is acting out in the black hole of the Milky Way, says a new research. This is part of the star-shredding activity by the supermassive black hole at the center of the Milky Way. The new study is significant in showing that mere gasification of a shredding star is not ending the story at the black hole. It asserts that splintering of gas spools […]

Citadel Securities, one of the largest traders on the US equity market, has agreed to pay $22.6m with US markets regulators to settle charges it misled customers over the prices they were getting for some of their deals. The Securities and Exchange Commission said on Friday that two of the algorithms Citadel used to execute orders on behalf of retail investors had not sought to obtain the […]

UAE-based shipyard, Gulf Craft, has announced that all the fly-bridge motor yachts it manufactures for the UAE market will be modified to meet Dubai Water Canal requirements. The company said in a statement that its fleet of Majesty yachts and Nomad yachts will all be built in accordance with the height restrictions of Dubai Water Canal, as specified by the regulator, the Dubai Roads and Transport Authority […]

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. A Detroit cop who used Facebook to refer to city residents as “garbage” and came pretty close to bragging about police brutality has retired, the city’s police chief announced Thursday. And at the heart of it all is a single […]

Dubai’s office market saw the delivery of 129,000 square metre of gross leasable area (GLA) in 2016, bringing the total stock to 8.55 million square metres, according to a JLL report. JLL’s Year in Review 2016 said the majority of these completions were in Business Bay and TECOM A & B, with about 10,300 square metres of office space completed in the final quarter of 2016. Vacancy […]

By Jonathan Stempel | NEW HAVEN, Conn. NEW HAVEN, Conn. A former Jefferies Group Inc bond trader being tried a second time for defrauding clients about prices of mortgage bonds should be convicted because he lied repeatedly to his own customers to boost profits, a U.S. prosecutor argued on Friday. Jesse Litvak, 42, was “motivated by greed,” and it was no excuse that other traders might have […]

A trading surge powered by Donald Trump’s victory has helped two of the three biggest US banks boost quarterly profits, fuelling hopes Wall Street can extend its post-election resurgence. JPMorgan Chase’s trading business, the largest in the world by revenues, produced its best ever fourth-quarter. Net income jumped 96 per cent from a year earlier to $3.43bn. At Bank of America’s global markets business, net income soared […]

US chemical giant Dow has announced the “topping out” of its new innovation centre in Saudi Arabia, which is expected to become operational in the second half of 2018. Dow chairman and CEO Andrew Liveris reported good progress in the construction of the Dow Middle East Innovation Centre at King Abdullah University of Science & Technology (KAUST) in Saudi Arabia. Liveris said: “When the new Dow Innovation […]

By Trevor Hunnicutt | NEW YORK NEW YORK BlackRock Inc (BLK.N), the world’s biggest asset manager, reported better-than-expected quarterly profits on Friday as it clamped down on expenses and investors stormed into lower-cost funds to take advantage of a year-end rally. Investors poured $88 billion into the company’s market-tracking index investments and its iShares exchange-traded funds during the quarter, while pulling $546 million from funds managed actively […]

Panasonic has outed a new Android-powered tablet in its Toughbook family, which will look to entice consumers despite its hefty price tag. The company launched its Toughpad FZ-A2 in the U.S. on Jan.12, 2017. The Android-powered Toughpad is the latest addition to the company’s Toughbook family. “The FZ-A2 is the ultimate tablet for mobile field work that will continue to evolve with our customers’ needs and work requirements,” […]

Nintendo’s brand-new console Switch will go on sale March 3, more than a decade after the debut of the blockbuster Wii gaming device, at a price of $300 with a new feature: an online gaming network. While the connectivity is new for Nintendo, the Xbox One or PlayStation 4 console have had the feature for years. Still, the higher-than-anticipated price cast a cloud over the announcement: Wal-Mart […]

BlackRock says it will raise its quarterly dividend after reporting the largest net inflows of new client money in its history in 2016, despite a 5 per cent fall in net income for the year. Reporting its fourth quarter and full-year results, the world’s largest asset manager said that it took in total net inflow of $202bn in 2016, as its total assets under management rose by […]

Crystal Lagoons, the patented technology developer of giant crystalline lagoons, has announced it has held a series of meetings with prominent Qatari real estate developers as the country looks to capitalise on a growth in tourism numbers and revenues. Designed to be self-cleaning, the lagoons only require topping up in response to evaporation and use up to 100 times less chemicals than traditional pool systems, and only […]

The debate over what yield on the 10Y spells the end of the 30 year bond bull market, and would spillover into selling among other asset classes, is heating up. Earlier this week, in his monthly annual letter Bill Gross wrote that 2.6% is the only level for the market that matters: “This is my only forecast for the 10-year in 2017. If 2.60% is broken on […]

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