A group of US senators has urged a government investigation into billionaire Carl Icahn’s involvement in an obscure market for US biofuel credits, arguing he profited by influencing prices through his role as informal counsel to President Donald Trump. Mr Icahn controls CVR Energy, an oil refiner which trades credits used to meet a federal mandate for mixing ethanol and biodiesel with petroleum products. In December, the […]
Despite paying trillions in Federal taxes every year, Americans’ requests for a clear, detailed breakdown of where their money goes every year, have gone unanswered and been ignored by both Republican and Democrat administrations for one simple reason: transparency has an unpleasant way of mutating into accountability, which is the scariest thing imaginable for any career politician. Not any more. On Tuesday, the US Treasury launched a […]
Donald Trump’s promise of the biggest tax reforms since the Reagan era has cast minds back to the go-go years of postwar Manhattan, when cocktail glasses brimmed, steaks bulged and meal bills soared. The generous treatment of business meal expenses fuelled a phenomenon called the “three martini lunch”. As good for networking as it was bad for afternoon acuity, the more money diners spent on liquor, the […]
Quebec police continued the search on Tuesday for a toddler swept away in a swollen Quebec river and said her stepfather’s body had been found, the first fatality in floods that have inundated the Canadian province. Almost 2,000 people have fled their homes in recent days amid floods caused by heavy rains in the province, according to government emergency informatiom bureau Urgence Quebec. The city of Montreal […]
A federal appeals court on Tuesday said the U.S. government did not commit an “illegal exaction” harming American International Group Inc (AIG.N) shareholders led by former Chief Executive Maurice “Hank” Greenberg when it bailed out the insurer in 2008. The Federal Circuit Court of Appeals in Washington, D.C. also said Greenberg’s Starr International Co did not have legal standing to pursue claims over the government’s acquisition of […]
This story was originally co-published by ProPublica and IRE Journal. It’s a great time to be an investigative journalist. Sure, no president has done more to demonize media than President Trump. But nor has anybody done more to boost our standing than Trump. Millions of Americans have put their faith in us. A few weeks after the election, a friend of mine, pondering the reality of one-party […]
Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi Deputy Supreme Commander of the Armed Forces, inspects a Dh 12 billion worth plan to develop the southern part of Yas Island, from Miral Asset Management Organisation, during a Sea Palace barza. Seen with Mohammed Al Mubarak, Chairman of Abu Dhabi Tourism and Culture Authority (2nd L), Noura Al Kaabi, Minister of State for Federal National Council Affairs, […]
BOSTON When the Masjid Al-Kareem mosque in Providence, Rhode Island, received a threatening letter in November calling Muslims a “vile and filthy people,” its members were frightened enough they asked for and got extra police protection. The 42-year-old mosque was far from alone. The letter it received was one of 2,213 anti-Muslim bias incidents in the United States last year, according to a report released Tuesday by […]
Start-up trading platform trueEX has filed a complaint against industry giant Markit, claiming the company, which provides post-trade services to derivatives users, engaged in anticompetitive conduct by terminating its relationship with the trading venue. TrueEX is one of the few new trading platforms to have gained traction with investors trading interest-rate swaps, challenging established players Bloomberg and Tradeweb. Markit is the dominant provider of post-trade services, operating […]
ABU DHABI // A new pier, arena and waterfront promenade with residential complexes and restaurants are part of a Dh12 billion development plan for Yas Island. Announced on Monday, the plan for the 14 million square foot area on the southern part of the island, near Yas Plaza and Yas Beach, includes the new home for twofour54, the media industry’s free zone that is currently located near […]
Robert Mercer, co-chief executive of the hedge fund Renaissance Technologies and one of Donald Trump’s biggest donors, has been sued by a former employee who says he was fired after he publicly criticised his boss’s support for the US president. David Magerman, a long-time research scientist at the fund who had helped it build computer algorithms that make investment decisions, was terminated after giving two newspaper interviews […]
U.S. broadcaster Sinclair Broadcast Group Inc (SBGI.O) said on Monday it would buy Tribune Media Co (TRCO.N), one of the largest U.S. television station operators, for about $3.9 billion cash and stock, and assume about $2.7 billion in debt. The $43.50 per share offer represents a nearly 8 percent premium to Tribune’s Friday close. Shares of Tribune, which operates 42 television stations in 33 markets, rose 5.2 […]
Virtustream announced Monday that it’s launching Healthcare Cloud, a service built on the Virtustream Enterprise Cloud that’s designed to meet the security, regulatory, and IT needs of healthcare providers. It provides an environment compliant with federal HIPAA and HITECH regulations with availability service level agreements of up to 99.999 percent. It can be deployed in a public, private, or hybrid cloud environment, with a set of on […]
Sinclair Broadcast Group, the biggest US local television station owner, has struck an agreement to buy Tribune Media for $43.50 a share, valuing Tribune at about $3.9bn. The transaction is the first big move of an expected consolidation wave in media unleashed by the Federal Communications Commission’s recent decision to effectively loosen a cap on local television station ownership. The rule change has US media companies jostling […]
WASHINGTON President Donald Trump’s temporary travel ban on people entering the United States from six Muslim-majority countries faces its latest legal test on Monday before a federal appeals court in Virginia. The Richmond-based 4th U.S. Circuit Court of Appeals is scheduled to hear an hour of oral arguments in the Trump administration’s appeal of a March 16 ruling by Maryland-based federal judge Theodore Chuang. His decision blocked […]
U.S. federal health regulators have approved a new drug for amyotrophic lateral sclerosis (ALS), or Lou Gehrig’s disease. The drug called Radicava or edaravone, is the second drug to be greenlighted by the FDA for the condition after more than 20 years. Radicava is manufactured by MT Pharma America, a subsidiary of Mitsubishi Tanabe Pharma Corporation in Japan. It is given by intravenous infusion and will cost more […]
After nearly three years on the lam, Italian fugitive Giuseppe Donaldo Nicosia — whose lavish spending of allegedly stolen money was laid bare in the Panama Papers — has been arrested in Ukraine. Police in the Black Sea port of Odessa captured Nicosia on April 18, acting on a request from Italy’s financial police and Interpol, Italian prosecutors said in a statement. A video released by Ukraine’s […]
(Image: file photo via CBS News/CBS Interactive) The FBI spent $900,000 on a hack that allowed federal agents into the San Bernardino terrorist’s encrypted iPhone, according to a Democratic senator. Sen. Dianne Feinstein (D-CA) confirmed the figure this week during an open hearing. FBI director James Comey was testifying in regarding the agency’s work, the events in the run-up to the 2016 elections, and the upcoming reauthorization […]
The Federal Reserve risks political interference and losing its independence if it maintains a large balance sheet in the longer term, former Fed officials have claimed, as debate over the central bank’s strategy for unwinding its interventions in financial markets intensifies. Kevin Warsh, a visiting fellow at the Hoover Institution at Stanford University and former Fed governor, said permanently holding vast quantities of assets like treasuries was […]
An eerie calm in capital markets is fuelling fears on Wall Street that a first-quarter rebound in trading revenues could prove a one-off. Big investment banks reported generally solid profits over the first three months of the year, as investors reset their portfolios to take account of higher base interest rates, and as companies front-loaded efforts to raise money. For all bar four of the top 14 […]
By John Ruwitch | SHANGHAI SHANGHAI Organisers barred journalists on Sunday from a publicly advertised event in Shanghai to attract Chinese investment in a U.S. real estate project linked to the family of President Donald Trump’s son-in-law in exchange for immigrant visas. The two-tower luxury apartment complex in New Jersey, One Journal Square, is being developed by KABR Group and the Kushner Companies, which until recently was […]
Monday UN focus on migrants The UN will meet in Geneva to address the “human rights of all migrants, social inclusion, cohesion and all forms of discrimination, including racism, xenophobia and intolerance”. Organisers say they are working towards an ambitious global policy on migration, an issue high on the political agenda after the Mediterranean migrants’ crisis and US President Donald Trump’s clampdown on migration into the US […]
A coffee shop in New York has filed a $10 million trademark infringement lawsuit against Starbucks claiming that the latter copied its idea for the “Unicorn Frappuccino.” Starbucks’s Unicorn Frappuccino Starbucks’s blended beverage, which was offered in stores in the United States, Mexico, and Canada for a limited time last month was a hit, as suggested by the posts and images of the drink that many people posted […]
Uber is once again potentially in hot water with US regulators following the disclosure of a program used to track and avoid government officials. The US Department of Justice (DoJ) has launched a criminal investigation into Uber concerning the Greyball program, software which helped drivers avoid local authorities while remaining on the road. Greyball, disclosed in March by the New York Times, was a secretive system used […]
