A year since the leak of some 11 million documents from Mossack Fonseca, the owners of the vast wealth hidden away by the Panamanian law firm appear safe from everything but embarrassment. The founders of the law firm were less fortunate. Juergen Mossack and his colleague Ramon Fonseca, were arrested in Panama City in February in connection with Brazil’s sprawling car wash corruption scandal. The investigation is […]
The bagpiper striding across the bottle label wears flowing green tartan, a luxuriant black moustache — and a red turban. Bagpiper whisky, distilled by Diageo through its United Spirits subsidiary in India, is one of India’s most popular brands, available even in a tetra pak. But at Rs300 ($4.50) for a 750ml bottle, it is not a brand that will power a rapid return on Diageo’s £1.9bn […]
Mr. Netanyahu, several experts said, wants to talk to Mr. Trump about how best to confront Iran. But the administration’s policy toward Iran is still taking shape, making it less fruitful for the Israeli leader to come to Washington for a face-to-face meeting with the president. Continue reading the main story In his video appearance — after joking that he skipped the conference to avoid standing in […]
SEOUL South Korea’s family-run conglomerates are facing calls for a shakeup in their governance from a leading candidate in May’s presidential election, following the ouster of former President Park Geun-hye in a burgeoning influence-peddling scandal. The conglomerates known as chaebol have come under the reform buzz saw before, only to emerge bigger and stronger than ever. The country’s four biggest chaebol groups account for around half the […]
Cognitive neuroscientists are using the Stampede supercomputer to provide accurate predictions of risk for those with depression and anxiety. They have been able to classify individuals with major depressive disorder with roughly 75 percent accuracy using a machine learning approach. Stampede 2 — which will come online later in 2017 — will provide the increased computer processing required to incorporate more data and achieve even greater accuracy. […]
LastPass browser extension (LastPass) LastPass on Monday acknowledged a remote code execution vulnerability that affects version 4.1.42 of the LastPass extension on Chrome. The client side vulnerability was discovered over the weekend by Google Project Zero researcher Tavis Ormandy. “We are now actively addressing the vulnerability. This attack is unique and highly sophisticated,” LastPass wrote in a blog post. LastPass didn’t give specifics about the vulnerability or […]
By Noel Randewich and Rishika Sadam Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner’s IPO underwriters handed it badly needed “buy” ratings. Snap’s listing on March 1 was the largest by a technology firm in three years but trading has been volatile, with many investors critical of decelerating user growth. Snap has warned it may never become profitable. Analysts […]
Vocus Communications has announced selling its 16 percent stake in Macquarie Telecom, offloading 3,358,511 MAQ shares at a price of AU$12.20 per share for a total of around AU$41 million. Vocus sold 100 percent of its interest in Macquarie Telecom to both institutional and retail shareholders via a block trade, it announced to the Australian Securities Exchange on Tuesday morning. According to Macquarie Telecom, the sale of […]
Workers who participated in a recent survey do not think that their employers offer the right collaboration tools for effective working with remote team members to solve complex business problems. Oblong Industries Over a third of respondents said they were ‘neutral’ about the collaboration at their organisation. Los Angeles based Oblong Industries company conducted live, one-on-one interviews with industry respondents. The survey was executed via iPads through […]
Viacom, the owner of Nickelodeon and MTV, has turned to former Fox film chief Jim Gianopulos to revive its ailing Paramount Pictures division, hoping that he can restore the studio behind The Godfather, Saturday Night Fever and Top Gun to its former glory. Mr Gianopulos released Avatar, the biggest box office hit ever produced by Fox, as well as Deadpool, the X-Men series and The Grand Budapest […]
European governments and related organisations have ramped up their sales of new debt this year, in the latest sign of bond markets bracing for rises in interest rates and an increase in political risks. Overall borrowing from eurozone sovereigns, local authorities, agencies and supranationals such as the European Investment Bank is currently at €210bn — the highest year-to-date amount since 2012, Dealogic data show, and the second-highest […]
By Joe Kirwin The European Parliament’s special Panama Papers investigative committee concluded its four-day “fact-finding” visit to the U.S. with its chairman calling on the U.S. to close its tax loopholes. In a March 24 telephone interview at the conclusion of the U.S. visit, the committee‘s chairman, German lawmaker Werner Langen, told Bloomberg BNA that EU members “have made appeals to the U.S. federal government and Delaware […]
Like many others, I’m interested in diminutive action cams modeled GoPro’s popular line of devices, which are targeted at people who like to jump off cliffs with one of these gadgets attached to their person. Not surprisingly, there are a number of low-priced competitors coming from obscure Chinese off brands. They sell like crazy, but are they valid rivals or total duds? It’s hard to […]
A video-based social network with categories ranging from motor sports to singing has been launched in Dubai to encourage users to “rate, create and participate” in video content. HighlyRated.com was created by entrepreneurs Acer Jamal and Stefan Cudby following the rapid rise in demand for online video content. According to the co-founders, the idea came about when the duo found their friends posting videos on other social […]
Photo American-led coalition instructors training Iraqi soldiers at a military base south of Baghdad in January. Credit Thaier Al-Sudani/Reuters WASHINGTON — The United States is sending more than 200 additional soldiers to Iraq to support the Iraqi military’s push to retake western Mosul from the Islamic State, military officials said on Monday. The deployment includes two Army infantry companies and one platoon equipped to clear away roadside […]
Barclays Bank on Monday launched the first exchange traded fund in east Africa when it listed the Barclays NewGold ETF on the Nairobi stock exchange. The product is a cross-listing of the $1.4bn NewGold ETF that sits on the Johannesburg Stock Exchange in 2004 and is also publicly traded on five other African markets. Its initial size in Kenya will be Ks500m ($4.8m) with capacity for expanding […]
Wells Fargo revealed Monday that it will soon allow customers to initiate ATM transactions using NFC-based mobile wallets such as Apple Pay. The news comes as part of another announcement that Wells Fargo has activated card-free transactions on its fleet of 13,000 ATMs across the US. Starting Monday, customers can use the Wells Fargo mobile app to generate a one-time use code that can be entered into […]
MANILA The Philippines could tighten its money laundering law this year to cover casinos, its top lawmaker said on Monday, in a move aimed at plugging loopholes that allowed $81 million stolen from Bangladesh to pass through Manila gaming venues. The Senate aims to approve its version of the bill in May and it is likely the lower house of Congress would hold separate discussions on its […]
Kuwait is seeking to follow its Gulf neighbours in its bid to gain emerging-market status. The nation’s Capital Markets Authority plans to extend its settlement cycle for stock trades by the end of April to three days from two for foreigners and zero for local traders, Vice-Chairman Mishaal Al-Usaimi said at a conference in Kuwait City. The regulators are also planning to introduce short-selling and derivative products […]
President Trump is reportedly creating a new position for his son-in-law and senior adviser Jared Kushner. The newly formed White House Office of American Innovation will leverage business ideas and potentially privatize some government functions, according to Reuters, as Kushner says: “The government should be run like a great American company. Our hope is that we can achieve successes and efficiencies for our customers, who are the […]
A new kind of memory effect discovered in two Transition Metal Oxides could carry important repercussions on technology and security. The multi-state nature of the memory effect, whereby more than one piece of information can coexist in the same space, could be harnessed for memory technology. And while deleted computer data can be recovered, at least partially, by talented hackers, the ‘erase-upon-reading’ property of this system could […]
Apple and Facebook are gearing up to challenge start-up Magic Leap and Microsoft’s HoloLens in the race to create a pair of augmented reality glasses that could one day replace the smartphone as consumers’ primary computing device. Apple is stepping up its efforts in AR eyewear, according to people with knowledge of its efforts, while Facebook is also researching the technology that can make what chief executive […]
Defendants may find themselves taken into custody if they travel abroad. Their assets could be seized in other countries. Continue reading the main story “It starts a process of accountability,” said Stephen J. Rapp, former United States ambassador at large for the Office of Global Criminal Justice and now a nonresident fellow at The Hague Institute for Global Justice, who helped to file the case. “We could […]
The US stock market’s shifting reaction to the inability of Donald Trump and the House of Representatives to repeal Obamacare belies the much bigger question the failure raises for Wall Street: can this administration steer corporate tax cuts through Congress? This matters because the expectation that American companies will enjoy smaller tax bills has helped fan a 10 per cent gain for the S&P 500 since the […]
