FRANKFURT German police arrested a man on Friday who is suspected of planting explosives targeting the bus of soccer team Borussia Dortmund last week, the office of the German federal chief prosecutor said. The 28-year old man, a dual German and Russian national identified as Sergei V., had bought options on Borussia Dortmund’s stock before the attack, hoping to make a profit, it said in a statement. […]
Just a few short decades ago America’s youth was highly encouraged by eager parents to become self-sufficient by the ripe old age of 18. Today, the mere suggestion of such a thing could land unsuspecting parents in prison for ‘triggering’ their offspring with malicious ‘hate speech.’ And, as a new study from the Census Bureau points out today, the changing dynamics are readily apparent in the latest […]
The London Metal Exchange, facing falling trading volumes and tougher competition, plans to ask its members to evaluate wide-ranging reforms that are intensifying a robust internal debate over its future. The 140-year institution is set to outline proposed reforms in the coming weeks, evaluating almost all aspects of its business, including whether it should become more similar to rivals such as the CME Group, the world’s largest […]
The first 3-D quantum liquid crystals may have applications in quantum computing, report scientists. Liquid crystals fall somewhere in between a liquid and a solid: they are made up of molecules that flow around freely as if they were a liquid but are all oriented in the same direction, as in a solid. Liquid crystals can be found in nature, such as in biological cell membranes. Alternatively, […]
A first of its kind continent-wide survey of Antarctica revealed that the ice-capped continent has a surprisingly vast network of rivers and lakes, which make their way through the ice shelves of the landmass. These rivers flow with melting water over many parts of Antarctica during the continent’s brief summer season. The discovery of lakes and river streams is not new for the researchers. However, scientists earlier assumed that […]
KUALA LUMPUR: PKR Ampang Youth chief Datuk Adam Rosly arrived today at the sessions court, where he is expected to be charged with providing authorities with forged documents and false statements. The offences fall under Section 32(8)(c) and Section 89 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, for providing false documents and statements. Adam, clad in an orange Malaysian Anti-Corruption Commission […]
The pound was last worth $1.30 on September 30, a day when lawyers were lining up to derail Brexit in the courts, a resilient consumer was challenging economists’ dire post-referendum predictions and carmaker Nissan was demanding compensation for staying in the UK. Investors have become familiar with such Brexit unpredictability. Yet few of them could have guessed how sterling, tweeted by Nordea analyst Martin Enlund as “the […]
Bali, the Indonesian island with picture-perfect natural landscapes and rich culture is a favourite amongst travellers from all over the world for a reason. Boasting serene beaches, volcanic mountains and scenic rice paddies, the isle east of Java is not only a visual treat, it also presents visitors with a buzzing art scene, delectable cuisine and recreation like no place else. Far off from the tourist hotspots […]
By Maiya Keidan and Jemima Kelly | LONDON LONDON Hedge funds lost out on Tuesday after British Prime Minister Theresa May shocked markets by calling a snap election, but those led by humans outsmarted those led by machines, in a reversal of fortunes from the Brexit referendum. While computer-driven hedge funds garnered plaudits for their outperformance in the wake of Britain’s shock vote to leave the European […]
US mortgage group Ocwen has lost more than half its market value after the Consumer Financial Protection Bureau sued it over “systemic” misconduct, a reminder of the power wielded by the Washington regulator that Republicans have vowed to rein in. Several states are also taking action as they prepare to revoke operating licenses for the New York-listed company, which was founded in 1988 and employs more than […]
BEIRUT Iranian President Hassan Rouhani and hardline rival Ebrahim Raisi were both approved to run in May’s presidential election by a government vetting body, while former President Mahmoud Ahmadinejad was disqualified, state media reported on Thursday. The approval of Rouhani, a moderate, and Raisi, a political hardliner thought to have the backing of Supreme Leader Ayatollah Ali Khamenei, sets up a showdown between rival political camps. Four […]
Emirates will shift aircraft to destinations in Malaysia, Oceania and Africa as the airline scrambles for alternatives after eliminating 25 weekly flights to the US in the fallout from President Donald Trump’s travel restrictions. Planes on US routes usually fly more than 80 percent full in the summer season but are now “percentage points” less than that, hurting the flights’ profitability, Emirates President Tim Clark said in […]
The London market broke a four-day losing streak as the week’s spate of sterling-induced selling eased and consumer stocks from Burberry to Unilever put in robust performances. The marginal gains for the FTSE 100 were not enough to reverse Wednesday’s fall into losses for the year for the benchmark. But UBS maintaining that Burberry was its “preferred turnround name in luxury” and top pick in that European […]
Following years of acrimony between OPEC and the hedge fund community, which the cartel dismissed simply as “speculators”, things suddenly changed in 2016 when the two groups got so close, there were outright reports of collusion between the two on various occasions. We documented this last month in “Why OPEC Is Colluding With Hedge Funds.” However, as Reuters’ energy analyst John Kemp pointed out on twitter this […]
Wall Street still exudes widespread optimism that 2017 will provide another year of solid if unspectacular economic growth and only gentle interest rate rises. With the S&P 500 up over 4.5 per cent for the year, here is a series of charts that will hearten investors of a more bearish persuasion. While there are good reasons why each chart should not be taken too seriously, together they […]
By Madeline Chambers | BERLIN BERLIN Germany’s Central Council of Muslims said on Thursday that the right-wing Alternative for Germany (AfD) was on a path to becoming a more radical, anti-Islamic party without co-chief Frauke Petry leading it into September’s national election. Petry had become the face of the anti-immigration party, which hurt Chancellor Angela Merkel’s conservatives during the migrant crisis but has leaked support this year. […]
When Anne Burton Walsh read about a new program being offered at Davis Polk & Wardwell LLP in the firm’s alumni newsletter last fall, “I felt as though I had written it in a dream,” the New York attorney recalled recently. The email said the firm was looking for women who had previously worked at Davis […] (via WSJ)
Oil prices levelled off on Thursday after they dropped more than $2 a barrel following publication of data by the US energy department showing a rise in American gasoline stockpiles for the first time since February. US benchmark West Texas Intermediate edged 14 cents higher to $50.58 a barrel in early European trading while the global Brent benchmark ticked 17 cents higher to $53.10 a barrel. The […]
Samsung Electronics has completed the development of its second-generation 10-nanometer process, the company said. The 10-nanometer Lower Power Plus (10LPP) increases performance by 10 percent and consumes 15 percent less power than its predecessor the 10-nanometer Lower Power Early (10LPE) process, the company added. Samsung began mass production of 10-nanometer processors, using the 10LPE process, last year in October. It used the process for its own System-on-a-Chip […]
CARACAS General Motors (GM.N) said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights. The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies. “Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations. In […]
Last Friday, New York legislators agreed on a budget that includes funding for tuition-free education at public colleges and universities. That plan, the Excelsior Scholarship, maintains most of the features of a proposal Governor Andrew Cuomo introduced earlier this year, including tuition-free enrollment at the City University of New York and State University of New York systems to students of families earning up to $125,000 per year. […]
“O’Reilly Factor” host Bill O’Reilly has been ousted from Fox News amid a growing furor over sexual harassment allegations and multiple confidential settlements with former employees at the network. O’Reilly, whose perennial ratings success over multiple decades earned him the moniker “the King of Cable News,” will not be returning to the network from a vacation to Italy announced last week after a New York Times article […]
Fund managers are buying eurozone equities and shunning Wall Street, as a major survey of global money managers this month revealed the fifth-biggest rotation from US to European stocks since the start of monetary union in 1999. The survey of 203 fund managers by Bank of America Merrill Lynch showed a record number — a net 83 per cent — believe US stocks are overvalued and that […]
5962 25 by Shannon K. O’Neil April 7, 2017 Yesterday, I had the pleasure of hosting the Civil Society, Markets, and Democracy program’s symposium on “The Future of Anticorruption in U.S. Foreign Policy.” We started the day off with Senator Ben Cardin, who discussed his contributions to anticorruption legislation, including the Global Magnitsky Act and the proposed Combating Global Corruption Act. Our second session focused on corruption […]
