Oil prices jumped after the energy ministers from Saudi Arabia and Russia said they backed extending an Opec-led agreement to cut output until March 2018. Saudi energy minister Khalid al-Falih and his Russian counterpart Alexander Novak met on Monday in Beijing and discussed oil output policy. Russia is the world’s biggest oil producer, while Saudi Arabia is the biggest exporter. The two ministers said in a joint […]
Oil jumped after the energy ministers from Saudi Arabia and Russia said that an OPEC-led agreement to cut output should be extended until March 2018. Saudi energy minister Khalid Al Falih and his Russian counterpart Alexander Novak discussed oil output policy in Beijing after which they made a joint statement. Mr Falih said the next round of cuts will be on the same terms as the first […]
The ban on importing some agricultural products from Arab countries will not affect supply or pricing during Ramadan, the Ministry of Climate Change and Environment has said. Last month, the Ministry announced a decision to ban imports of vegetables and fruits from selected countries with effect from May 15 amid concerns about pesticide residues in excess of permissible limits. The counties impacted by the ban include Jordan, […]
The cyber attacks that swept the globe on Friday likely aren’t over just yet: current data show more than 1.3m computer systems are still vulnerable to infection to the debilitating WannaCry infection. So far, 200,000 computers across 150 countries are known to have been infected in the first wave of the WannaCry cyber attack, Europol said on Sunday. “The recent attack is at an unprecedented level and […]
TOKYO Western Digital Corp (WDC.O) has sought international arbitration to stop partner Toshiba Corp (6502.T) from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate. California-based Western Digital is a long-standing joint venture partner and runs Toshiba’s main semiconductor plant in Japan. It has sought to bid for the Toshiba chips business, but is not seen as the front-runner, […]
Having single-handedly hounded Home Capital Group – the company which we predicted in 2015 would be “ground zero” for any potential Canadian financial crisis, and has emerged as the Canada’s equivalent to the infamous New Century which in 2007 presaged the upcoming global financial crisis – into near oblivion, noted chicken-farmer and short-seller, Marc Cohodes, over the weekend revealed the full details behind his latest short thesis: […]
In this May 12, 2017 photo, a display panel with an error can be seen at the main railway station in Chemnitz, Germany. Germany’s national railway says that it was among the organizations affected by the global cyberattack but there was no impact on train services. Deutsche Bahn said early Saturday that departure and arrival display screens at its stations were hit Friday night by the attack. […]
Businesses must brace for further cyber attacks this week on a potentially “significant scale”, British intelligence officials warned on Sunday, less than 48 hours after the debilitating WannaCry infection swept across the world. Current data show more than 1.3m computer systems are still vulnerable to infection by WannaCry, which has paralysed hospitals, disrupted transport networks and immobilised businesses, according to cyber security analysts. So far, 200,000 computers […]
Ransomware: Everything you ever wanted to know Hospitals across England and Scotland are being forced to postpone appointments and divert patients elsewhere because systems have been taken offline by a ransomware attack in an event NHS England has declared as a ‘major incident’. In a statement, NHS Digital, which runs IT systems for the health service, has confirmed that systems across the country have been brought down […]
The Federal Reserve is actively considering a profound change in US monetary policy, in effect the reversal of quantitative easing (QE). In its March meeting, the FOMC discussed its strategy for the future run down of its balance sheet, and said that further debate would take place in upcoming meetings. The FOMC has already concluded that “a change in the Committee’s reinvestment policy would likely be appropriate […]
Emmanuel Macron’s election as president of France received few more rapturous welcomes than that given by Sylvie Goulard, a liberal French politician in the European Parliament and ally of the 39-year-old new head of state. “Finally! Finally, Europe and France reconciled!” Ms Goulard enthused. “What a symbol — a young president, focused on the future, entering the Louvre of the kings of France to the sound of […]
Three former employees of Donald Trump claim to have personally witnessed him recording phone calls at Trump Tower in New York, and a fourth person said a recording of him was entered into evidence in a lawsuit – the Wall St. Journal reports. Mr. Trump sometimes taped phone conversations with associates and others from his Trump Tower office in New York, according to three people who say […]
By Ayesha Rascoe and Michael Martina | WASHINGTON/BEIJING WASHINGTON/BEIJING The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington’s drive to cut its trade deficit with Beijing. The deals are the first results of 100 days of trade talks that began last month, when […]
People walk past a Megafon mobile phones shop in Moscow, Russia, Saturday, May 13, 2017. A top Russian mobile operator said Friday it had come under cyberattacks that appeared similar to those that have crippled some U.K. hospitals. Pyotr Lidov, a spokesman for Megafon, said Friday’s attacks froze computers in company’s offices across Russia. (AP Photo/Ivan Sekretarev) The cyberattack that spread malicious software around the world, shutting […]
India’s $1.6tn stock market broke new ground last week, with the benchmark index hitting an all-time high as confidence builds that the government’s reform agenda will strengthen growth and corporate earnings. But the stock market’s 14.9 per cent rally since January 1 has divided opinion among fund managers who disagree over whether Indian equities can make further gains. “The most common question that I am asked by […]
Flash organizations are a new crowdsourcing technique that enables anyone to assemble an entire organization from a paid crowdsourcing marketplace and lead that organization in pursuit of complex, open-ended goals. (via WSJ)
When we looked at subprime auto delinquencies most recently, we found some troubling trends: first, in February, we showed that 61+ day delinquencies in General Motors’ subprime securitization book would support a rather bleak thesis for future auto sales, and specifically the demand side of the equation, with January 2017 delinquency rates soaring to the highest levels since late 2009/early 2010. Ironically, this hasn’t stopped lenders from […]
State-owned utility Qatar General Water & Electricity Corporation (Kahramaa) has awarded Siemens its largest contract to-date in Qatar for the expansion of the country’s power transmission network. As part of the deal, valued at QR3.1 billion ($851 million), Siemens will deliver 35 turnkey super and primary substations for phase 13 of the Qatar Power Transmission System Expansion project. This marks a significant milestone for Siemens, which has […]
By Jeremy Wagstaff | SINGAPORE SINGAPORE Some hospitals, schools and universities in Asia were hit by a global cyber attack which infected tens of thousands of computers in Europe and the United States, but officials and researchers said the extent of any damage may not yet be known. China’s official news agency Xinhua said secondary schools and universities were hit, but did not say how many or […]
An exterior view shows the main entrance of St Bartholomew’s Hospital, in London, one of the hospitals whose computer systems were affected by a cyberattack, Friday, May 12, 2017. A large cyberattack crippled computer systems at hospitals across England on Friday, with appointments canceled, phone lines down and patients turned away. (AP Photo/Matt Dunham) Teams of technicians worked “round the clock” Saturday to restore hospital computer systems […]
By David Lawder and William Schomberg | BARI, Italy BARI, Italy The United States said on Saturday the world’s other rich economies were getting used to the policy plans of President Donald Trump, but Europe and Japan showed they remained worried about Washington’s shift. Officials from the Group of Seven nations met in southern Italy hoping to hear more about Trump’s plans which they fear will revive […]
The huge cyberattack wiped out display screens at rail stations in Germany Cyber security experts rushed to restore systems on Saturday after an unprecedented global wave of cyberattacks that struck targets ranging from Russia’s banks to British hospitals and a French carmaker’s factories. The hunt was on for the culprits behind the assault, which was being described as the biggest cyber ransom attack ever. State agencies […]
Nearly 70 years after he produced Hong Kong’s first plastic duck, toy industry veteran LT Lam’s factories in China now churn out everything from Transformers to Play-Doh. But with costs rising in China and the industry fragmenting because of technological advances and changing consumer tastes, the 93-year-old worries that Hong Kong could lose its decades-long role at the heart of the global toy industry. “We started with […]
A cybersecurity researcher appears to have discovered a “kill switch” that can prevent the spread of the WannaCry ransomware—for now—that has caused the cyberattacks wreaking havoc globally A cybersecurity researcher appears to have discovered a “kill switch” that can prevent the spread of the WannaCry ransomware—for now—that has caused the cyberattacks wreaking havoc globally, they told AFP Saturday. The researcher, tweeting as @MalwareTechBlog, said the discovery was […]
