Advanced Micro Devices (AMD) published its first quarter financial results on Monday, meeting market expectations. However, AMD shares fell in after-hours trading. As Wall Street anticipated, the company posted a non-GAAP net loss of $38 million, or 4 cents per share, on revenue of $984 million. Revenue was up 18 percent year-over-year, largely driven by demand for Ryzen CPUs, CEO Lisa Su noted. “We are positioned for […]
Mubadala Investment Company, established after the merger of Mubadala Development Company and International Petroleum Investment Company, began operations on Monday. The new entity is expected to accelerate Abu Dhabi’s economic diversification as it is active in 13 business sectors in more than 30 countries globally, state news agency WAM reported. The new firm’s total assets of about $125 billion, based on valuations at the end of 2015, […]
US stock markets climbed higher on Monday, as bipartisan agreement over a US budget deal overpowered weak manufacturing data in the US and China, with European markets closed for the May bank holiday. The benchmark S&P 500 climbed 0.3 per cent by midday in New York on news of the budget deal, shrugging off an initial tumble when data from the Institute for Supply Management showed America’s […]
SpaceX successfully launched a secretive spy satellite toward orbit on Monday morning, following a slight delay. Elon Musk‘s commercial rocket company was supposed to launch the spy satellite on Sunday, but a sensor problem postponed the launch. The operation went smoothly on Monday, marking SpaceX’s first flight for the U.S. Department of Defense. The successful liftoff was from the Kennedy Space Center at Cape Canaveral, Florida. SpaceX […]
Hamas, the militant Islamist group, on Monday dropped a call for Israel’s destruction and endorsed the creation of a Palestinian state inside 1967 borders, in a rhetorical shift that analysts said reflected the group’s political ambitions and changing priorities in a new Middle East. A policy paper released in Doha by Khaled Meshaal, Hamas’s political leader, described the creation of an interim Palestinian state in the 1967 […]
The Syrian government and its main ally, Russia, deny that it uses such tactics. At a news conference held at United Nations headquarters in New York to release the report’s findings, the executive director of Human Rights Watch, Kenneth Roth, ridiculed what he described as “preposterous” assertions by the Syrian and Russian governments denying responsibility. Photo An inspection of damage to a hospital in the Aleppo area […]
The White House announced Monday that President Trump has signed an executive order establishing the American Technology Council (ATC). “Americans deserve better digital services from their Government,” the executive order reads. The council’s purpose, it says, is to promote policies that help the federal government “transform and modernize its information technology and how it uses and delivers digital services.” Chris Liddell, the White House director of strategic […]
The Panama Papers investigation into the offshore secrets of the rich and famous has been awarded a prestigious Pulitzer prize. The prize was given to the Washington-based International Consortium of Investigative Journalists (ICIJ), together with two US titles, McClatchy and the Miami Herald. The judges cited a series of stories from the Panama Papers and the “collaboration of more than 300 reporters on six continents to expose […]
Authored by Mark Melin via ValueWalk.com, Bullish on oil, Andurand Commodity Fund Manager Pierre Andurand looks around the world for justification of his long exposure. Since the start of 2017, patience has been emphasized by the famous French oil trader, perhaps best known for his previous BlueGold Global Fund management, who is now struggling with an -11.6% loss year to date as of March and is in the […]
US corporate boardrooms’ approval of share buyback plans has fallen to its lowest level since 2012, signalling that the stock market’s surge to further highs this year is curbing a key source of demand for equities. Companies on the S&P 500 index have authorised $146bn in share buybacks this year, down 15 per cent from a year ago, according to data from Goldman Sachs. Executives have also […]
By Olivia Oran and Svea Herbst-Bayliss | BEVERLY HILLS BEVERLY HILLS U.S. Treasury Secretary Steven Mnuchin said on Monday that economic growth of three percent is achievable in the next two years as the Trump administration sets out to dramatically cut taxes. Speaking at the Milken Institute Global Conference in Beverly Hills, California, almost a week after he helped unveil plans to cut taxes for many people […]
T-Mobile is apparently planning to launch a high-end smartphone exclusively and offer it at a much more affordable price than a regular flagship. The self-proclaimed Uncarrier has been trying to revolutionize the mobile scene for a good while now and has constantly come up with aggressive offers to blow the competition out of the water. T-Mobile CEO John Legere has made it his mission to revolutionize the […]
(Image: stock photo) If something seems too good to be true, it probably is. In the cybersecurity world, if something is said to be “unhackable” or provides “absolute security,” you should run for the hills, because — spoiler alert — there is no such thing as “absolute” security. Anyone who tells you otherwise is stupid enough not to know, or smart enough to try to lie. Enter […]
France’s presidential candidates battled for the working-class vote in a day of sometimes violent protests ahead of next Sunday’s election. As May Day workers’ rights marches were being held across the country, the National Front’s Marine Le Pen attacked her rival Emmanuel Macron as an “enemy of the people” who represented finance and “savage globalisation”. The rancour and confusion of the campaign spilled on to the streets, […]
Mr. Abbas was scheduled to meet with Mr. Trump in Washington on Wednesday as the sole representative of the Palestinian people. He has sought in recent weeks to rein in Hamas, cutting salaries and refusing to pay for electricity, in a bid to undermine the group’s authority. Gazans now have only a few hours of power a day. Continue reading the main story “Whether it’s a coincidence […]
Since the iPad arrived in 2010, the role of the PC has been greatly scrutinized. Is it a dying form factor? Is it something consumers no longer need? Is the smartphone the only device people will use someday? Will the tablet kill the PC? The debate is relevant because it helps businesses decide where to focus their resources. Clearly, the smartphone is many people’s primary […]
Credit: North Carolina State University A study comparing acceptance rates of contributions from men and women in an open-source software community finds that, overall, women’s contributions tend to be accepted more often than men’s – but when a woman’s gender is identifiable, they are rejected more often. “There are a number of questions and concerns related to gender bias in computer programming, but this project was focused […]
A club of top bankers, investors and Treasury officials will this week meet at the venerable Hay-Adams hotel in downtown Washington to discuss the US government’s borrowing plans. It could be a blockbuster meeting. The Treasury Borrowing Advisory Committee meets quarterly to discuss with senior government officials the best way for the US to finance its budget deficit. It is made up of senior executives from hedge […]
WASHINGTON U.S. consumer spending was unchanged in March for a second straight month and the overall monthly inflation rate fell for the first time in a year,confirming the weak domestic demand in the first quarter. But when adjusted for inflation consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.3 percent, ending two straight months of decline,the Commerce Department said on Monday. Economists […]
Theresa May’s critics have attacked the British prime minister for having “no plan” over Brexit in the wake of a leaked account of a private dinner that heightened tensions between Brussels and London. A report published in the Frankfurter Allgemeine Sonntagszeitung portrayed last Wednesday’s dinner between Mrs May and European Commission president Jean-Claude Juncker as a disaster. According to the FAZ, commission officials were astonished at Mrs […]
Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics – the decisive runoff round of the French election takes place this Sunday – this week’s releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs. The market’s focus during the week of 5/1 will begin […]
Apple has extended the warranty on first-generation Apple Watches that suffer from swollen battery problems to three years. Must read: iPhone 8: Here’s what we think we know about Apple’s 10th-anniversary iPhone Word of the change comes via a note sent from Apple to authorized repair centers that was subsequently forwarded to 9to5mac. There have been sporadic reports of issues where ballooning batteries can cause either the […]
22 February 2016 – Journalist Daphne Caruana Galizia posted the first major hint that the biggest scandal in Maltese history was about to break. “It’s traditional to eat lamb on Easter Sunday, so Konrad Mizzi and his estranged wife Sai Mizzi Liang will be getting theirs from New Zealand, courtesy of their fixer Brian Tonna, who has a desk at the Auberge de Castille”. […]
IT services firm Unisys has published the 2016 financial results of its Australian chapter, reporting an after-tax loss of AU$3.3 million, down from the AU$709,000 after-tax profit recorded a year prior. Revenue for the 12-month period was AU$237.7 million, up from the AU$201.5 million in annual revenue reported for 2015. As a result of the loss, Unisys Australia was handed a AU$1.3 million income tax benefit from […]
