Even as global markets churned in the wake of Donald Trump’s stunning election win, the US Federal Reserve appeared to be sticking to its guns on monetary policy on Friday as one of its top officials laid the ground for a second increase in short-term interest rates. Stanley Fischer, vice-chair of the Federal Reserve Board, said in a speech that the case for gradually removing some more […]
In most of the high-profile swing states, the story was the same. In Ohio, Team Clinton was responsible for about 75 percent of the 79,000 TV ads aired in the race since mid-June, after the primaries had ended. In North Carolina, Team Clinton was likewise responsible for about three-quarters of the 63,000 presidential race TV ads since mid-June. And in Pennsylvania, Team Clinton was responsible for nearly […]
The US government has charged Autonomy’s former finance chief with a multimillion-dollar fraud before the UK software company’s disastrous $11bn sale to Hewlett-Packard in 2011. Federal prosecutors are seeking at least $7.7m in proceeds from Sushovan Hussain, a long-serving Autonomy executive, who they allege exaggerated its financial performance and misled investors, including HP during its due diligence process. Mr Hussain, who denies any wrongdoing, was indicted on […]
Conflicted Care When Dr. Rosecrans worked briefly at the Navy’s hospital at Guantánamo as a young psychiatrist in 1999, it was a sleepy assignment. She saw only a few outpatients each week, and there was no psychiatric ward on the base, which was being downsized. But after Al Qaeda’s 2001 terror attacks on New York and the Pentagon, and the subsequent American-led invasion of Afghanistan, detainees began […]
By Catherine Cadell | SHENZHEN, China SHENZHEN, China Alibaba Group Holding Ltd (BABA.N) Singles’ Day festival posted a record 120.7 billion yuan ($17.73 billion) worth of sales on Friday, though the gala shopping day saw growth slow as Chinese shoppers searched for deeper discounts and lower pricetags. Amid fanfare and celebrity razzmatazz, sales on Alibaba’s platforms had raced to a billion dollars in less than five minutes […]
By Sumanta Dey | BENGALURU BENGALURU After Donald Trump’s unexpected victory in the U.S. presidential election, investors may refocus in the coming week on the health of the world economy and any signs that years of rock-bottom interest rates and fiscal austerity are coming to an end. Trump’s victory poses a major challenge to the conventional wisdom on the global economy, which for years has relied on […]
Donald Trump has appointed Mike Pence, his running mate, to head his transition team as he prepares to start naming people to fill top posts in his administration. Mr Trump also appointed four members of his family, including his daughter Ivanka and her husband Jared Kushner, along with the financiers Anthony Scaramucci and Steven Mnuchin. The team will also include Stephen Bannon, his campaign chief executive, Reince […]
Warren Buffett has thrown his weight behind scandal-hit Wells Fargo, saying it is “a great bank that made a terrible mistake” whose new chief executive Tim Sloan is “exactly right” for the top job. Breaking his months-long silence on the debacle, the head of Berkshire Hathaway, the bank’s biggest shareholder, confirmed he has not sold any shares after the scandal erupted over sales practices. The famed investor […]
Opponents of a Donald Trump presidency are fuelling a surge in donations to non-profit organisations and charities over fears that a Republican-controlled government will roll back progressive initiatives concerning the environment, immigrants, women and gay marriage rights. The Sierra Club, a 125-year-old environmental group, and the American Civil Liberties Union have reported record donation rates, while dozens of other groups have also issued new marketing campaigns to […]
By Heather Somerville | SAN FRANCISCO SAN FRANCISCO The fledgling drone industry is in the throes of change as weak consumer demand and falling prices drive startups to shift their focus to specialized business applications. 3D Robotics – an early drone startup that raised more than$125 million from investors – has seen its consumer business all but crash. This week, it unveiled a new commercial strategy, announcing […]
By Dustin Volz Facebook Inc said on Friday it would no longer allow certain advertisers to exclude racial or ethnic groups when placing ads on its service, following criticism that the practice was discriminatory. The move comes amid growing scrutiny of how the world’s largest online social media network’s policies and algorithms shape what content appears in a user’s news feed. The unexpected victory of Donald Trump […]
By Yashaswini Swamynathan U.S. stock index futures fell sharply on Friday as investors tailored their portfolios to benefit from president-elect Donald Trump’s proposed policies. The decline on Nasdaq futures was more pronounced. Facebook (FB.O), Apple (AAPL.O), Netflix (NFLX.O) and Alphabet (GOOGL.O) were off more than 1 percent in premarket trading, indicating that Thursday’s selloff in the technology sector was likely to continue. Investors also appeared to be […]
MOSCOW Russian President Vladimir Putin said on Friday there was a risk this year’s federal budget deficit could slightly exceed 3.7 percent of gross domestic product. Putin told a meeting with government officials on the economy that it would not be a disaster if the deficit were to hit 3.8-3.9 percent of GDP, but that Russia should aim for a level of 3.7 percent of GDP. (Reporting […]
Apple CEO Tim Cook has been relatively quiet on the topic of his own personal political inclination in the lead up to the 2016 U.S. presidential election. But the unprecedented win of Republican candidate Donald Trump after such a tumultuous campaign has now prompted Cook to address his employees and the entire company in an effort to unite the people. How To Conduct Business After 2016 U.S. Elections […]
By Catherine Cadell | SHENZHEN, China SHENZHEN, China Chinese e-commerce giant Alibaba Group Holding Ltd said it racked up more than $5 billion in transactions in the first hour of its annual ‘Singles’ Day’ sales blitz on Friday – a third more than in the first hour of last year’s spree. The 24-hour event held annually on Nov. 11 offers a benchmark for Alibaba’s performance and an […]
By Jonathan Stempel A federal judge on Thursday directed Amazon.com Inc to set up a year-long process to reimburse parents whose children made in-app purchases without permission, but rejected a U.S. regulator’s request for a $26.5 million lump-sum payout. U.S. District Judge John Coughenour, in Amazon’s hometown of Seattle, issued his order more than six months after finding the online retailer liable, in a case brought by […]
During the long 2016 election season, now-President-elect Donald Trump spent far more time talking about immigration, terrorism and the economy than he did about information technology issues. Over the past several years, though, he has occasionally taken to Twitter to bash net neutrality as a “top-down power grab” or say during a Fox & Friends television interview that Apple should be boycotted for fighting an FBI order […]
Business-focused social network LinkedIn faces being blocked in Russia after a court ruled it broke a law on data storage. The Moscow city court rejected LinkedIn’s appeal against a ruling that it had broken a law that requires personal data on Russian citizens to be stored on servers within Russia, court spokeswoman Ulyana Solopova told The Associated Press. Solopova says LinkedIn can appeal Thursday’s ruling. The case […]
As of this morning, several hours after the U.S. presidential race was called for Donald Trump, some of the tech world’s leading voices had yet to weigh in on what those results could mean for Silicon Valley in particular and innovation in general. But many news outlets are saying the impacts could be disruptive in ways that the otherwise disruption-loving tech sector might not like. Meanwhile, venture […]
By Abhirup Roy | MUMBAI MUMBAI Ford Motor Co is investing 13 billion rupees ($195 million) over the next five years in a technology and business centre in the Indian city of Chennai to develop new products, design mobility solutions and provide business services. Dearborn, Michigan-based Ford, which has already invested over $2 billion in India till date, will hire 3,000 people and bring in 9,000 from […]
Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, receives Prince Charles and Camilla, Duchess of Cornwall, at the launch of the UK-UAE Year of Culture at Al Jahili Fort. Ryan Carter / Crown Prince’s Court – Abu Dhabi Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, watches as calligrapher […]
ABU DHABI // The Duchess of Cornwall visited some feathered patients at the Abu Dhabi Falcon Hospital, on the second day of her UAE tour with Prince Charles. Camilla watched as staff operated on a falcon and other birds being treated at the hospital’s veterinary centre, after hearing about falconry’s role in Arab culture during her visit on Monday. The duchess also met a group of children […]
By David Shepardson | WASHINGTON WASHINGTON AT&T Inc may bypass a powerful telecommunications regulator by offloading a Time Warner broadcast station, analysts say, as the telecommunications giant braces for what is expected to be a lengthy and tough antitrust review of its proposed $85.4 billion deal to buy Time Warner Inc. Dallas-based AT&T said late Saturday the deal would need approval of the U.S. Justice Department and […]
|By Matein Khalid| The fall in oil prices since 2014 has triggered a liquidity crunch and higher funding costs in the UAE banking system. EIBOR is almost double the London interbank rate LIBOR. Non-performing loan (NPL) have begun to rise as property prices have fallen 20% from their peak and corporate/SME borrowers are hit by a sharp downturn in the business cycle. DIB shares reflect these macro […]
