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By Andrew Chung | WASHINGTON WASHINGTON The U.S. Supreme Court on Tuesday appeared poised to clamp down on where corporations can be sued, a potential setback for plaintiffs’ lawyers who strive to bring cases in courts and locales they consider friendly. The nine justices in two separate cases heard appeals of lower court rulings allowing out-of-state injury lawsuits against drug maker Bristol-Myers Squibb Co(BMY.N) and BNSF Railway […]

There is no love lost between French luxury house LVMH and its smaller rival Hermès despite the financial ties between them. In 2011, then-Hermès chief executive Patrick Thomas reacted with absolute fury when he learnt that LVMH had used derivatives to build up a stake in the company. In a notoriously crude statement, he said: “If you want to seduce a beautiful woman, you don’t start by […]

Uber is making its vertical take-off and landing (VTOL) plans more concrete, via new partnerships announced today during its Elevate conference focused on the VTOL industry. The partnerships are with established aeronautics and emerging VTOL players, including Aurora Flight Sciences, Embraer, Bell Helicopter, Pistrel Aircraft, Mooney and ChargePoint, and will focus on two markets initially, including Dallas in the U.S. and Dubai abroad. The partners will provide […]

Etihad Aviation Group on Monday announced the appointment of Robin Kamark as CEO, Airline Equity Partners. Kamark will be responsible for leading and developing the Group’s minority equity investment strategy, which includes stakes in airberlin, Alitalia, Jet Airways, Air Serbia, Air Seychelles, Etihad Regional and Virgin Australia, a statement said. He takes over from Bruno Matheu, who has held the role since May 2016, and is leaving […]

In 2014, a landmark Center investigation detailing controversial denials of black lung benefits to coal miners — “Breathless and Burdened: Dying from Black Lung, Buried by Law and Medicine” — won in the category of investigative reporting. The year-long investigation illuminated how doctors and lawyers working at the behest of the coal industry helped defeat benefit claims of coal miners who were sick and dying of black […]

Tuesday 12:30 BST What you need to know ● Stock markets extend rally on French election relief● Euro adds to gains as Paris’ bond yields steady ● Havens attract sellers, pushing down gold, the yen and Bund prices● Traders eye Nasdaq 6,000 as company earnings slip into fast gear● Brent crude prices higher as base metals firm——————- Hot topic The relief over the French election, which boosted […]

Billionaire Bernard Arnault and his family are shunning big external acquisitions and opting to tighten their grip on LVMH, the world’s largest luxury group by revenues, where they’re already the largest shareholder. The Arnault family is simplifying the complex corporate structure between its family holding company Groupe Arnault, Christian Dior and LVMH — in a move that will see it sell out completely of rival Hermès. “We’re […]

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After yesterday’s violent gap up in stocks across the globe in response to the “expected” outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up […]

25 April 2017 Dubai, UAE – Emirates Integrated Telecommunications Company PJSC (“du”) today published its financial results for the first quarter of 2017 showing a 2.5% rise in revenue to AED 3.17 billion. Net Profit before royalty decreased by 16.7% to AED 851.2 million, compared with Q1 2016 Advertisement (AED Millions) First Quarter Analysis   Q1 2016 Q1 2017 % change Revenue (AEDm) 3,089.6 3,166.4 2.5%        […]

DUBAI // A top celebrity cardiologist has urged people to ditch “white death” diets of bread, pasta, sugar and salt if the UAE is to tackle its rampant levels of diabetes. Bestselling Australian author Ross Walker, credited with changing attitudes to eating with his no-nonsense advice, on Monday told of the key health messages that could improve the lives of millions in the UAE. Health can be […]

The Home Office is trying to discourage EU nationals from applying for permanent residence in the UK to avoid being deluged by applications after the triggering of the Article 50 Brexit clause. According to new guidance released this month, EU citizens are instead advised to sign up for emailed news alerts that will tell them if and when they need to take action over their UK residence. […]

By Dustin Volz | WASHINGTON WASHINGTON The Senate’s main investigation into allegations of Russian meddling in the 2016 U.S. presidential election is equipped with a much smaller staff than previous high-profile intelligence and scandal probes in Congress, which could potentially affect its progress, according to sources and a Reuters review of public records. With only seven staff members initially assigned to the Senate Intelligence Committee’s three-month-old investigation, […]

Saudi Arabia is about to cast off its oil-dependence, build brand-new industries and open its economy to foreign investment, according to the government. That might make it a good time to buy into a Saudi bank. And substantial stakes in two of them are up for sale. But in both cases, it’s international lenders who are seeking to get out – and there are no big-name global […]

By Sam Nussey and Ritsuko Shimizu | TOKYO TOKYO Japan’s growing labor shortage threatens the nation’s ubiquitous convenience stores, whose business model relies on an army of part-timers packing bento lunch boxes, manning cash registers and delivering goods 24/7. The big three “combini” operators 7-Eleven, FamilyMart and Lawson, which have expanded through Japan’s long slump, are scrambling to ease the pressure on franchisees by offering a mix […]

The Trump administration will impose tariffs on Canadian exports of softwood lumber to the US after concluding that Canada subsidises the industry in a way that is detrimental to the US. Wilbur Ross, US commerce secretary, told the Financial Times that the US would impose tariffs ranging from 3 per cent to 24 per cent on five Canadian lumber exporters. The Canadian companies are Canfor, J.D. Irving, […]

Photo Steven Mnuchin, left, the secretary of the Treasury, announced sanctions on Monday in response to a chemical weapons attack in Syria. “The United States is sending a strong message with this action that we will not tolerate the use of chemical weapons by any actor,” he said. Credit Stephen Crowley/The New York Times WASHINGTON — The Trump administration on Monday imposed sanctions on 271 employees of […]

By Toby Sterling | AMSTERDAM AMSTERDAM U.S. paint maker PPG Industries (PPG.N) raised its proposed offer for Akzo Nobel (AKZO.AS) by about 8 percent to 26.9 billion euros ($28.8 billion) on Monday, increasing the pressure on its Dutch rival to enter into talks. PPG said its proposal was a “final” invitation to Akzo to enter negotiations and included a break fee in case the deal was rejected […]

Saturday, April 29, marks what may be a bittersweet anniversary for the Administration: it is President Trump’s 100th day in office. It could also mark Day 1 of a government shutdown if Congress doesn’t pass a spending bill authorizing funding, or if the president doesn’t sign it before then. This is a risk the GOP will be eager to avoid, although in recent days chatter has again […]

InterContinental Hotels Group announces new signings as well as openings across its MEA brand portfolio at the UAE’s Arabian Travel Market and Arabian Hotel Investment Conference 24 April 2017 Dubai, United Arab Emirates – InterContinental Hotels Group® (IHG), one of the world’s leading global hotel companies, announced four new hotel signings as well as six new hotel openings across the GCC in 2017 at the Arabian Travel […]

Microsoft plans to make the first of its promised integrations between Dynamics 365 and LinkedIn available to customers this Summer. On April 24, Microsoft officials said the company will be ready to integrate Dynamics 365 for Sales with LinkedIn’s Sales Navigator as of July 2017. This integration will help users who have both Dynamics 365 Sales and LinkedIn to get contextual recommendations, provide tailored content, as well […]

US paintmaker PPG Industries raised the tempo in a fierce takeover battle with its rival Akzo Nobel by tabling a third bid that it said valued the Dutch company at €26.9bn. PPG on Monday made a new cash-and-stock offer for the owner of the Dulux brand of paints at €96.75 a share — a premium of 50 per cent over Akzo Nobel’s undisturbed stock price before the […]

By Yashaswini Swamynathan U.S. stock index futures rose sharply on Monday, tracking European and Asian stocks, as investors breathed a sigh of relief after Centrist candidate and market favorite Emmanuel Macron won the first round of the French election. * Polls showed pro-EU Macron is expected to beat right-wing rival Marine Le Pen in a deciding vote next month, reducing the chances of France taking a Britain-like […]

Risk is definitely on this morning as European shares soar, led by French stocks and a new record high in Germany’s Dax, after a “French relief rally” in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month, and who is seen as a 61% to 39% favorite to defeat Le Pen […]

24 April 2017 Dubai – Commercial Bank International (CBI or ‘The Bank’) today announced its financial results for the first quarter (Q1) 2017. Financial highlights – three-months ended 31 March 2017: ·         Operating Income increased by 9% to AED 203 million versus AED 187 million in Q1 2016. ·         Net profit of AED 21 million. Advertisement ·         Net interest income increased by 10% to AED 126 million […]

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