As CEO of ExxonMobil, Rex Tillerson was accustomed to going where he wanted, when he wanted, with whomever he wanted. It comes with being the CEO of one of the most valuable companies in the world. He doesn’t seem compelled to act much differently as Secretary of State — at least in the early going. It’s why news bureau chiefs will hold a conference call this morning to […]
Here are the big questions set to frame a new trading week for markets. How frothy are equity and junk bond valuations looking?Another record-breaking week for equities and a red hot reception for the Snap initial public offering is not the only sign of investor optimism running wild. Junk bond spreads — the premium investors demand to hold the bonds over Treasury yields — are heading towards […]
BERLIN Support for Germany’s Social Democrats (SPD) nudged up to 32 percent, one percentage point behind Chancellor Angela Merkel’s conservatives, over the past week, according to a poll published on Wednesday. The centre-left SPD, currently the junior partner in Merkel’s ruling coalition, has seen its poll ratings soar since nominating former European Parliament president Martin Schulz as its candidate for chancellor in the Sept. 24 federal election. […]
UAE carrier Etihad Airways has advised passengers travelling to the United States from the six banned Muslim nations to check their travel status prior to boarding their flights from Abu Dhabi airport. The notice on its website was issued following the latest developments in the US, the revised executive order – which becomes effective on March 16 – implements a ban on nationals of Iran, Sudan, Somalia, […]
By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks edged lower on Wednesday after a strong start to the week due to profit-taking as investors lacked conviction to buy risky assets before a U.S. policy meeting next week that may see interest rates rising for the second time in three months. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent in early trade, a […]
March 8, 2017 by: Shawn Donnan and Demetri Sevastopulo in Washington ZTE has agreed to plead guilty to criminal charges of violating US sanctions on North Korea and Iran and to pay up to $1.2bn in fines, the largest sanctions-busting penalty levied against a Chinese company by Washington. The Chinese telecommunications group also admitted to obstructing a federal investigation as part of a settlement announced on Tuesday […]
A buoyant stock market and improving US economic growth have given the Federal Reserve cover to lift interest rates three times this year, including when it meets in less than a fortnight, a Financial Times survey of top economists has found. About three-quarters of the 43 economists surveyed in March said the Fed would increase interest rates by 75 basis points in 2017, a capitulation from months […]
By David Morgan | WASHINGTON WASHINGTON U.S. Senate Democrats, seeking to capitalise on growing disclosures about the Trump campaign’s contacts with Russia, urged a top Republican lawmaker on Tuesday to obtain President Donald Trump’s tax returns as a matter of national security. It was the second request for Trump’s returns by Senate Democrats in as many weeks, part of a Democratic campaign to pressure Republicans in Congress […]
By Emily Stephenson | WASHINGTON WASHINGTON White House spokesman Sean Spicer said on Tuesday he had no reason to think President Donald Trump does not support Federal Bureau of Investigation Director James Comey after a dispute over the president’s claim without evidence that he was wiretapped last year. “I have no reason to believe he doesn’t” support Comey, Spicer told reporters. Comey challenged Trump’s claim that former […]
By Jennifer Ablan | NEW YORK NEW YORK Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday he expects the Federal Reserve to begin a campaign this month of “old school” sequential interest rate hikes until “something breaks,” such as a U.S. recession. Gundlach, who oversees more than $101 billion at Los Angeles-based DoubleLine, said U.S. economic data support a rate increase as soon as […]
By Laila Kearney | NEW YORK NEW YORK A new round of bomb threats against Jewish community centres across the United States and in Canada forced lockdowns and evacuations on Tuesday, and all 100 U.S. senators asked the federal government to help them enhance security. Threats were phoned in or emailed to JCCs in states including New York, Wisconsin, Illinois and Florida overnight and early on Tuesday. […]
By Jonathan Stempel | NEW YORK NEW YORK PricewaterhouseCoopers LLP [PWC.UL] pinned the blame for MF Global Holdings Ltd’s collapse squarely on the commodity brokerage and its former chief executive, Jon Corzine, at the start on Tuesday of a trial over whether the auditor should pay about $3 billion for its alleged negligence. Jurors are considering a demand by MF Global’s bankruptcy plan administrator that PwC be […]
Lab to Enable ADNEC Employees to Lead Development of Cutting-edge Solutions to Meet Dynamic Customer Requirements and Enhance Abu Dhabi’s Competitive Edge Abu Dhabi-UAE: 07 March 2017 His Highness Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, officially inaugurated the Innovation Lab at Abu Dhabi National Exhibitions Company (ADNEC) as part of its sustained efforts to instill a workplace culture based […]
By Isabel Coles and John Davison | MOSUL, Iraq MOSUL, Iraq Iraqi forces on Tuesday recaptured the main government building in Mosul, the central bank branch and the museum where three years ago the militants filmed themselves destroying priceless statues. A Rapid Response team stormed the Nineveh governorate complex in an overnight raid that lasted more than an hour, killing dozens of Islamic State fighters, spokesman Lieutenant […]
Photo Iraqis fleeing their homes on Tuesday as government forces fought Islamic State militants in western Mosul. Credit Suhaib Salem/Reuters BAGHDAD — Iraqi forces trying to reclaim Mosul penetrated the western part of the city on Tuesday, retaking a bridge and several public buildings during heavy clashes with the Islamic State, officials said. Civilians reported that the bombardment and gunfire were the heaviest since Feb. 19, the […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. When it comes to Russian hacking and other subterfuge, the obvious and unavoidable media and political talk involves either the Clinton presidential campaign or the Trump White House. As Bloomberg’s Michael Riley discloses, there’s more for the press to obsess […]
As the President gets ready to sign a new immigration executive order today (see our note here: “Trump To Sign New Executive Order On Travel Bans Today: Will Exclude Iraq, Green Card Holders“), a group of overly burdened federal immigration judges are wondering whether they’ll get additional support to tackle their already massive caseload which is sure to only balloon further under Trump’s new rules. As the […]
Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, and Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, visit the new headquarters of the Federal Competitiveness And Statistics Authority. Wam During his visit, Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, said stronger cooperation and coordination between local and federal agencies is needed to successfully implement the National Agenda and […]
In 2004, the U.S. banned cigarettes in all federal prisons and it was pretty much the best thing that could have happened to the packaged mackerel industry (yes, you read that correctly…the packaged fish). So how did a smelly package of fish become the gold standard of America’s federal prisons? Well, for a variety of reasons (we’ll let your imagination run wild) prisoners are not allowed to […]
Republicans on Monday took a step closer towards delivering on Donald Trump’s pledge to scrap Obamacare, by unveiling a long-awaited plan to repeal the healthcare reforms that is set to trigger fierce debate in Congress. The draft legislation, which would roll back many of the core tenets of Barack Obama’s government-led healthcare legacy, was released by Republican lawmakers who have struggled to bridge internecine divisions as they […]
Yet in the other six countries still on Mr. Trump’s list, his decision to push ahead with the ban only stoked their sense of grievance and discrimination. Regional experts repeated earlier warnings that Mr. Trump’s order handed an easy propaganda victory to enemies and might ultimately weaken American security. Continue reading the main story “The idea that this is a Muslim ban has been reinforced even further,” […]
ABU DHABI // Qasr Al Hosn is expected to open next year after a renovation project is finished at the historic site. The fort is regarded as Abu Dhabi’s symbolic birthplace and plans for conservation work have been under way for years. The announcement was made at a majlis held at the fort on Monday by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy […]
By Joseph Ax and Nate Raymond | NEW YORK NEW YORK An accused al Qaeda operative charged with engaging in attacks on U.S. forces that killed at least two American servicemen in Afghanistan is set to face trial on Monday in federal court in Brooklyn, New York. Ibrahim Suleiman Adnan Adam Harun, also known by the nom de guerre Spin Ghul, or White Rose in the Pashto […]
Monday 21:56 GMT Overview Global equities sold off on Monday, encouraging flows into sovereign debt, after Asian markets were rattled by North Korea firing missiles into the Sea of Japan and the Federal Reserve’s interest rate meeting drew nearer. US President Donald Trump’s latest spat with the country’s security services may also be damping the mood somewhat as markets continue to price in a rate rise by […]
