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By Tracy Rucinski | CHICAGO CHICAGO A U.S. judge formally approved Peabody Energy Corp’s (BTUUQ.PK) plan to emerge from bankruptcy late Friday after the coal producer struck a settlement with the U.S. government over legacy environmental claims at a gold and metal mining subsidiary. Under a last-minute deal with the U.S. Department of Justice, Peabody agreed to create a $43 million trust to manage environmental liabilities stemming […]

President Donald Trump has proposed to boost federal spending on the production of nuclear weapons by more than $1 billion in 2018 while slashing or eliminating spending on many federal programs related to diplomacy, foreign aid, and social needs, in a budget proposal that reflects the first tangible expression of his defense priorities. The $1.4 billion budget increase for the National Nuclear Security Administration amounts to just […]

18 March 2017 Dubai, UAE – The UAE’s wise leadership has worked tirelessly to anticipate the future, as a fundamental element of its strategies and plans. The vision of the UAE’s leadership, led by HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE; HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and HH Sheikh […]

Junk bond funds saw their biggest outflows since December 2014, as investors expressed concern about high prices for speculative debt and falling energy prices put pressure on companies in the sector. Investors withdrew $5.7bn from high-yield bond funds in the week up to Wednesday, according to EPFR Global. It came as West Texas Intermediate, the US crude marker, last week dropped back below $50 a barrel. Oil […]

Warren Buffett’s compensation for running Berkshire Hathaway Inc (BRKa.N) edged up 4.0 percent last year to $487,881 reflecting the higher cost of keeping the world’s second-richest person safe. Buffett’s pay was disclosed in a Friday regulatory filing, in which Berkshire also recommended the rejection of three shareholder proposals at its May 6 annual meeting, including that it disclose its political contributions twice a year. Berkshire said Buffett’s […]

Plans have been revealed for the first residential community of private “green” villas and townhouses at Masdar City, Abu Dhabi’s flagship sustainable urban development. LEAD Development and Project Management Consultants (LEAD) and The National Investor (TNI) will build the project, which will also include apartments, and is to be delivered over 250,000 sq m of gross floor area. The freehold real estate development will accommodate around 5,000 […]

Credit: Public Domain Slow wi-fi is a source of irritation that nearly everyone experiences. Wireless devices in the home consume ever more data, and it’s only growing, and congesting the wi-fi network. Researchers at Eindhoven University of Technology have come up with a surprising solution: a wireless network based on harmless infrared rays. The capacity is not only huge (more than 40Gbit/s per ray) but also there […]

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LONDON Forget the top “Best in Show” prize, Olly the Jack Russell has gained his own celebrity status at Britain’s Crufts dogs show after enthusiastically going off course and even falling flat on his face during the agility round of last week’s competition. Stumbling on jumps, going the wrong way and running off to the sidelines, the dog’s energy and enthusiasm came through in Friday’s session, a […]

Friday 13:30 GMT What you need to know ● Dollar index nudges up after hitting five-week low● Short term US bond yields inch higher● Global stocks at record as Wall St gains ground● Oil prices firmer after volatile week● Gold advances towards $1,230 an ounce——————- Hot topic Has the buck bounce run its course? The dollar index (DXY) — a measure of the greenback against a basket […]

Dubai, UAE, 17 March 2017 For over five decades, Dubai Electricity and Water Authority (DEWA) has played a significant role in supporting the social, economic, and environmental development of Dubai, using a set of pioneering programmes and initiatives. This has contributed to the leading position DEWA enjoys today, and has reinforced the concept of Corporate Social Responsibility (CSR) to be more inclusive and effective. DEWA has launched […]

ABU DHABI // Tobacco as well as fizzy and energy drinks are expected to be taxed this year, the Minister of State for Financial Affairs announced. Obaid Al Tayer was speaking on Wednesday as the Federal National Council approved a draft law that paves the way for value-added tax (VAT) and excise duties on selected items, by setting up a legal framework for taxation. While the GCC […]

The preparations for Fireworks Wednesday started Tuesday afternoon when the gardeners carefully laid out seven small piles of sand near the square. Seven is regarded as a holy number in Iran’s pre-Islamic Zoroastrian faith. They then brought over several wheelbarrow loads of firewood. I noticed several of my neighbors peeking down from their balconies. Fireworks Wednesday is traditionally celebrated on the last Tuesday before the end of […]

Three-dimensional chip stacks could be used in computers in the future. Integrated microscale flow batteries could both power and cool them. Credit: IBM Research Zurich Researchers at ETH Zurich and IBM Research Zurich have built a tiny redox flow battery. This means that future computer chip stacks—in which individual chips are stacked like pancakes to save space and energy—could be supplied with electrical power and cooled at […]

With the oil market showing signs of losing faith in a price rebound, Opec is now asking itself: what more can it do? Production cuts agreed late last year between some of the world’s biggest producers inside and outside the cartel, are losing their sway given the near 10 per cent drop in the Brent benchmark over the past week. Brimming global storage tanks and a resurgent […]

According to Google, background tabs are responsible for up to a third of Chrome’s power use on a desktop. Image: Google Google has begun to throttle some background tabs in Chrome as part of a plan to reduce its browser’s impact on power consumption. Chrome 57 introduces the first phase of its plan, which ultimately aims to kill background tab processing and reduce the browser’s impact on […]

Using solar energy, researchers have developed a new method for safely and efficiently producing hydrogen in a centralized manner, miles away from the solar farm. It could greatly reduce the cost of producing hydrogen and shipping it to customers. (via WSJ)

Eon, the German utility, recorded a net loss of €16bn for 2016 — the largest in his history — and unveiled ambitious measures to reduce debt by €7bn through asset sales and cutting 1,300 jobs. The loss reflected impairments on Uniper, the new fossil fuel power company spun out of Eon last year, as well as payments Eon is having to make into a new state fund to cover the […]

It is fitting that just a few hours until the Fed’s second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the […]

DHAKA Police in Bangladesh fired teargas and water cannon on Wednesday to disperse hundreds of demonstrators trying to besiege the energy ministry in a protest against an increase in gas prices. Starting from this month, gas prices are to be raised by an average of 22.7 percent in two phases. It is the second such hike within two years, despite objections from political parties and industry, including […]

The president was expected to urge Saudi Arabia to support safe zones in Syria, which the administration has argued would be an alternative to accepting thousands of refugees from a country that has been ripped apart by six years of civil war. Continue reading the main story Mr. Trump and members of his inner circle regard Saudi Arabia as a vital component of the White House strategy […]

Wednesday 02:40 GMT Overview A rally in crude oil prices that erased the losses of the previous session failed to bolster energy stocks in Asia, as bond and currency traders also shunned major moves ahead of the US Federal Reserve’s interest rates decision later in the day. Hot topic Crude was climbing in Asia after a slide on Tuesday. Brent, the international benchmark, was up 1.3 per […]

Toyota Motor Corp signed a memorandum of understanding (MOU) on Tuesday with a Saudi Arabian government agency to conduct a feasibility study into producing vehicles and parts in the Middle Eastern nation. The move, if firmed up, would be a big step for the Saudi economy as the government tries to diversify beyond oil exports and create jobs as part of the kingdom’s 2030 Vision. So far, […]

Oil prices have fallen almost 10 per cent in the past week to their lowest level since Opec agreed to cut output in November. Here are five factors contributing to the renewed bout of selling that could dictate whether Brent crude can hold above $50 a barrel. 1. Shale The US shale industry has come back with a bang, with oil prices back above $50 a barrel. […]

NEW YORK U.S. stocks fell on Tuesday as oil prices dropped to their lowest since November and airlines pulled industrial stocks down as a blizzard hit the U.S. northeast. The Dow Jones Industrial Average .DJI fell 43.76 points, or 0.21 percent, to 20,837.72, the S&P 500 .SPX lost 8.04 points, or 0.34 percent, to 2,365.43 and the Nasdaq Composite .IXIC dropped 18.97 points, or 0.32 percent, to […]

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