By Gavin Jones | BARI, Italy BARI, Italy Group of Seven financial chiefs said they had no idea who was behind the international cyber attack that affected almost 100 countries on Friday but they pledged to redouble their efforts to make cyberspace more secure. The economy minister and central bank governor of Italy, which holds the G7 presidency, both replied negatively when asked at the end of […]
Investors wiped $4.6bn from the market value of the US department store sector in the space of two days this week, as concern mounted about sliding sales and the effects of online competition. The consequences are spilling into the real estate and derivatives markets, and the latest bad news has intensified the focus on the sector ahead of more earnings reports from retail heavyweights next week. Five […]
Readers are familiar with the various microwave and laser arrays located at the real New York Stock Exchange in Mahwah, New Jersey, both of which we have written about in the past. Microwave tower located next to the NYSE in Mahwah, NJ. This article, however, is not about the familiar antennas off Route 17 in New Jersey. Instead, demonstrating to what lengths the high frequency traders will […]
· Masaken to open UAE branch to explore new investment and strategic partnership opportunities · Board of Directors decides to study available investment opportunities before increasing firm’s capital 13 May 2017 Abu Dhabi, UAE – The Board of Directors of Masaken for Land and Industrial Development Projects (Masaken Capital), a company listed in Amman stock exchange, held its third meeting in 2017 on Thursday, 11 May, […]
Romero Rodrigues Contributor Romero Rodrigues is a managing partner at Redpoint eVentures, the Brazilian-focused arm of the Silicon Valley venture firm Redpoint. More posts by this contributor: Fintech is booming around the world. Global investments in fintech companies have continued to rise during the last two years. After international financing for fintech startups hit $19 billion in new funding rounds at the end of 2015, the volume […]
BARI, Italy Financial leaders of seven leading world economies will pledge stronger cooperation against cyber crime on Saturday and not to use foreign exchange to gain competitive advantage, but stick to their cautious wording on trade, a draft communique showed. Finance ministers and central bank governors from the United States, Canada, Japan, France, Germany, Italy and Britain are meeting in the Italian city of Bari to discuss […]
Europe’s investment community has barely had time to breathe a sigh of relief following Emmanuel Macron’s victory in the French presidential elections before starting to fret about other latent threats to the eurozone. Some investors have hailed the election — in which Mr Macron, a pro-EU liberal defeated Marine Le Pen, the Eurosceptic rightwing candidate — as a sign that Europe’s economic recovery remains on track. This […]
13 May 2017 Dubai – The Ministry of Finance (MoF) recently held the second meeting of the Government Financial Policy Coordination Council for 2017 in its headquarter in the Dubai. The meeting was headed by HE Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council, in the presence of HE Saeed Rashid Al Yateem, Assistant undersecretary of Resources and Budget […]
Gulf neighbours are expected to demand further economic reforms in Bahrain, the region’s smallest economy, to justify continued financial support, according to a new report. Bank of America Merrill Lynch’s MENA economist Jean Michel-Saliba said that while GCC support remains firm in the near-term, over time, the GCC is likely to require from Bahrain greater reforms to restore sustainability. His report said GCC development funds have stepped […]
By Chris at www.CapitalistExploits.at What in God’s name is happening? It’s not a high. It’s a record high. Sweet mother of Mary… As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year. More from the FT here: “Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose […]
Dana Gas profit nearly doubled in the first quarter as the UAE-based natural gas producer boosted output. Net income rose to 40 million dirhams ($11 million) from 22 million dirhams a year earlier, the company said Thursday in a statement to the Abu Dhabi stock exchange. Sales climbed 44 percent to 432 million dirhams. Dana Gas, which pumps most of its gas at fields in Egypt and […]
(Image: file photo) NEW YORK — The Federal Communications Commission has refused to turn over the internet browsing history of its chairman Ajit Pai, weeks after he blocked rules that allowed internet providers to sell the browsing histories of millions of Americans. In a response to a request filed by ZDNet under the Freedom of Information Act, the agency said Friday that it had “no responsive documents” […]
Hackers responsible for the wave of cyber attacks that struck organisations across the globe on Friday from the UK’s National Health Service to European telecoms company Telefónica used tools stolen from the US National Security Agency, the Financial Times has learnt. A tool known as “eternal blue”, developed by US spies was used by the hackers to make an existing form of ransomware known as WannaCry more […]
By Yashaswini Swamynathan The S&P 500 and the Dow edged lower on Friday as financial stocks fell, but losses on the Nasdaq were kept in check by a rise in technology shares. With the first-quarter earnings season coming to an end, investors are looking to the Federal Reserve, Trump administration and economic data for fresh trading catalysts. A risk-off sentiment has dominated trading this week after President […]
The yield on Chinese five-year government bonds hit its highest since 2014 on Friday, as tight liquidity and a regulatory crackdown on leveraged investment caused a rarely seen inversion of the yield curve. Bond yields, which move inversely to price, have been on the rise since last October as the People’s Bank of China moves to discourage the use of borrowed money for bond investment. The bond […]
United Kingdom telecommunications provider BT has announced that broadband arm Openreach is now consulting with industry and consumers on potentially rolling out a full-fibre broadband network. “We aspire to be the UK’s digital champion. To achieve this, we’re ready to invest in the UK’s digital infrastructure, in continued improvements in our customer service, and in new technologies to further enhance customer experience,” BT CEO Gavin Patterson said. […]
The completion date for the world’s tallest tower has been pushed back to 2019, a Saudi Arabian billionaire said Thursday, almost six years after launching the record-breaking project. Jeddah Tower is to rise more than a kilometre (almost 3,300 feet), placing it above Dubai’s Burj Khalifa. “The project was delayed… but it’ll open (in) 2019,” Prince Alwaleed bin Talal told AFP during a visit to the site […]
Profits take a hit at Entertainment One. FT Opening Quote is your early Square Mile briefing. You can sign up for the full newsletter here. Efforts to strengthen Entertainment One’s film division will hit its full-year profits by almost £50m, the company announced today, after it renegotiated one of its main distribution agreements, writes FastFT. Entertainment One is best known for producing television programmes such as Peppa […]
Australian grocery chain giant Coles currently gains valuable data on its customers’ purchasing habits, but only if they use the company’s loyalty card upon checkout either online or on in-store. While the data aggregated at those touch points is beneficial to the company, Melissa Ross, head of digital experience at Coles Group, said it tends to result in the organisation making assumptions on customers it has less […]
By Nick Carey | ORWELL, Ohio ORWELL, Ohio Three years ago if a customer walked onto Dan Reel’s used car lot seeking a late-model off-lease Ford Escape, his answer was short: tough luck. The supply of lightly-used cars and trucks was tight because automakers had drastically cut back on bargain leases during and after the Great Recession. Recently, though, a computer search for available used vehicles within […]
In 2005, when Alan Murray was rising through the ranks at The Wall Street Journal, he ponied up for an executive education program at Stanford. The cost? Around $45,000, back then. The length of the program? A few weeks. The whole experience left him thinking these programs were ripe for disruption from a competitor who could do it better and cheaper. “Businesses spend a lot of money […]
SYDNEY Turkey has agreed to a request from the Australian government to extradite a citizen it believes to be a top recruiter for the Islamic State militant group, Prime Minister Malcolm Turnbull said on Friday. Melbourne-born Neil Prakash has been linked to several Australia-based attack plans and has appeared in Islamic State videos and magazines. Australia alleges that Prakash actively recruited Australian men, women and children and […]
To watch the performance of the N League’s topchis and assorted bandmasters, it almost seems as if their leadership has scored a Waterloo triumph against the uniformed lot in the matter of the Dawn leaks. By announcing a virtual ceasefire the army has taken a step back, that’s for sure. To appease the army’s mood a few small sacrificial offerings have been made and that’s about it. […]
By Ayesha Rascoe | WASHINGTON WASHINGTON The United States and China will expand trade in beef and chicken and increase access for financial firms, as part of a plan to reduce the massive U.S. trade deficit with Beijing, U.S. Commerce Secretary Wilbur Ross said on Thursday. The deals are the first tangible results of trade talks that began last month after U.S. President Donald Trump and Chinese […]
