The one-time White House intern whose affair with President Bill Clinton led to his impeachment in the US Senate has broken her long silence in the media. In Vanity Fair magazine, Monica Lewinsky, 40, writes that she deeply regrets the fling. The president “took advantage” of her, she writes, though she describes their relationship as consensual. In 1998, Republicans failed in their effort to oust him from […]
|Nicole Arce| Facebook is at the front and center of what could turn out to be an ugly legal battle after ZeniMax Media, parent company of Id Software, sent the social network a legal notice claiming at least part of the intellectual property rights to Rift, a virtual reality headset developed by Oculus VR. In March of this year, Facebook shook up the technology industry by announcing its […]
French retail giant Carrefour SA has begun making plans to exit its India wholesale operations, the Times of India reported on Saturday. Carrefour operates five wholesale cash-and-carry outlets in India and, after foreign investment rules were eased in 2012, it had been widely expected to set up a chain of supermarkets. The company has seen senior-level exits from its India business recently and some employees may be […]
Gold was steady on Friday after two consecutive sessions of losses, but the metal was headed for its second weekly drop in three on growing optimism about the U.S. economy and selling in the top bullion-backed exchange-traded fund. Spot gold was flat at $1,283.66 an ounce by 0034 GMT, after falling 0.6 percent in the previous session. The metalis down 1.6 percent for the week. Silver, with […]
SAN FRANCISCO — Trying to become even bigger — and make more money — Facebook will allow users to reveal a little less. The social network announced on Wednesday that when its 1.3 billion users log in to other websites or mobile apps through their Facebook identities, they will be able to limit what they reveal to the site or app to just their email addresses and public […]
When French wine and cognac bottle maker Saverglass decided to expand three years ago, it chose a relatively remote, less affluent location in the United Arab Emirates for its plant rather than the business hubs of Dubai and Abu Dhabi. The company sited its 75 million euro ($105 million) factory, which produces some 400,000 bottles a day, in the desert emirate of Ras Al Khaimah, an hour’s […]
Investors are switching their attention back to developing countries’ debt after flirting with U.S. and European junk bonds during a year of turbulence in emerging markets. A long sell-off in anticipation of U.S. stimulus withdrawal meant emerging sovereign debt posted negative returns last year but the sector has enjoyed one of its best starts to a year in a decade in 2014, investors say, with returns of […]
Gold premiums in India, the world’s second biggest consumer after China, jumped to their highest level in more than two-and-a-half months due to short supplies amid firm demand ahead of the second-biggest gold buying festival. Premiums for gold bars rose more than 23 percent to $110 an ounce on London prices, a level last seen in early February, compared with $89 an ounce earlier in the week. […]
| By K Raveendran| A number of banks have failed to complete the process of providing credit data of their customers for the past two years. The Etihad Credit Bureau, the federal government entity responsible for administering the credit data base, has expressed concern over the delay and pointed out that effectiveness of the bureau’s reports would depend on the submission of quality data by the banks […]
Hedge funds lowered bullish bets on gold for a fourth week, the longest streak this year. The net-long position contracted to the lowest since mid-February as speculators sold bullion on signs of accelerating U.S. economic growth. The investors more than doubled bets on lower prices in the past month while reducing wagers on a rally in six of the past seven weeks. Prices fell 7.6 percent since […]
JPMorgan Chase & Co. is gaining ground in the debt markets of Gulf Cooperation Council states after the biggest U.S. bank helped manage this month’s Islamic bond sale by Saudi Arabia’s utility. JPMorgan is the biggest bond underwriter after HSBC Holdings in the six-nation GCC in 2014, its best start to a year since 2007, according to data compiled by Bloomberg. The New York-based lender advised on […]
The wrenching selloff in U.S. high-growth technology and biotech shares could leave investors braced for more than a minor pullback when earnings pick up speed this week. First-quarter earnings estimates have fallen sharply as many companies have blamed the brutal winter for weak outlooks. With high-valuation stocks under pressure, earnings could be subjected to even more investor scrutiny than usual. “There’s skepticism among investors about the outlook, […]
General Motors engineers were well aware of serious problems with ignition switches in GM small cars, but rejected several opportunities to make fixes, according to dozens of confidential documents released on Friday by a Congressional committee investigating the deadly defect. Parts supplier Delphi Automotive also repeatedly tested switches and found they did not meet GM specifications, according to emails and other memos. The internal documents from GM, […]
|By TAP Staff| New studies are intensifying medical concerns about malignant brain tumors from cell phone use. According to the BioInitiative Working Group, evidence for health risk from wireless tech is growing stronger and warrants immediate action. The Group released a mid-year update covering new science studies from 2012 to 2014. “There is a consistent pattern of increased risk for glioma (a malignant brain tumor) and acoustic […]
The U.S. government warned banks and other businesses on Friday to be on alert for hackers seeking to steal data exposed by the “Heartbleed” bug, as a German programmer took responsibility for the widespread security crisis. On a website for advising critical infrastructure operators about emerging cyber threats, the Department of Homeland Security asked organizations to report any Heartbleed-related attacks, adding that hackers were attempting to exploit […]
The Nasdaq suffered its biggest drop in two-and-a-half years on Thursday after another sharp selloff in biotech and momentum names, including Gilead Sciences and TripAdvisor, increasing investor anxiety about a broader pullback. The Nasdaq biotechnology index .NBI shed 5.6 percent, its biggest one-day drop since August 2011, adding to recent losses since a large drop in Gilead more than two weeks ago triggered a wider selloff for […]
The rupee falls to 60.27/28 from its Wednesday close of 60.14/15, as state-run banks are spotted buying dollars, which traders say is likely for defence and oil-related payments. Gains in USD/INR come despite positive stocks, with the Sensex up 0.2 percent. The gap between the spot USD/INR and one-month NDF has widened to around 0.45 rupee on Thursday, much higher than the usual 0.20-.025 rupee spread, suggesting […]
Gold extended gains to a third session on Thursday, scaling fresh two-week highs, after minutes from the Federal Reserve’s policy meeting showed that officials were not keen on increasing interest rates anytime soon. Gold prices came under pressure last month after Fed Chair Janet Yellen said the U.S. central bank would probably end its massive bond-buying programme this fall and could start raising interest rates around six […]
The central bank of the United Arab Emirates will introduce on April 15 a mechanism allowing the country’s banks to borrow funds from it overnight, to help their liquidity management. The Interim Marginal Lending Facility (IMLF) will let lenders use certain assets as collateral to obtain one-day loans, according to a letter to banks which was published on the central bank’s website on Tuesday. Such mechanisms, common […]
Asian shares rose in early trade on Wednesday after Wall Street reversed a three-day losing streak, but Japanese stocks dropped sharply after the yen surged on fading hopes of near-term stimulus from the Bank of Japan. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.9 percent, taking heart from a recovery in U.S. stocks overnight. Japanese stocks, on the other hand, had a tough day on […]
General Motors Co CEO Mary Barra came under withering attack for her company’s decade-long failure to deal with defective parts linked to fatal crashes, in a hearing where U.S. Senators accused the company of “criminal” behavior and “a culture of cover-up.” Democratic and Republican senators, including some former prosecutors and state attorneys general, challenged Barra’s assertion that GM had vastly improved its safety and management practices since […]
A year after Citigroup Inc. declared the decade-long run of commodity gains over, wacky weather, dead piglets and Vladimir Putin have gotten in the way. While Citigroup rang “death bells” in April 2013 for the synchronized super cycle fueled by economic growth in China, extreme weather and supply squeezes led to surprise rallies in 2014’s first three months. Coffee hit a two-year high, cattle and hogs rose […]
Gold traded below $1,300 an ounce on Monday, near a six-week low, and could face more pressure from weak physical demand in Asia and growing optimism about the U.S. economy. Spot gold was up slightly by 0.1 percent to $1,295.20 an ounce by 0018 GMT, but remained not far from a six-week low of $1,285.34 hit on Friday. Physical demand in top bullion buyer Asia has been […]
Asian stocks were up slightly in a cautious start to the week on Monday, with investors holding out hopes that China would take steps to stimulate the economy. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS tacked on 0.1 percent after rising to a 3-week high on Friday on the back of heightened speculation Beijing will launch new spending measures and reduced tensions in Ukraine. Australian […]
