Virtu Financial is set to emerge victorious in its effort to buy rival high-frequency trading group KCG Holdings, with a deal expected to be announced on Thursday, according to people briefed on the matter. KCG and Virtu declined to comment. With the announcement of the takeover imminent, Charles Susi, head of institutional sales and electronic trading at KCG, announced internally that he was leaving the company, other […]
By Pallavi Dewan and Nikhil Subba American Express Co’s (AXP.N) first-quarter profit fell less than expected as its card members spent more and the company expressed more confidence over its full-year results, amid fierce competition in the industry. AmEx’s shares rose 2.5 percent after the bell on Wednesday as the results and guidance indicated the company was starting to mitigate some of the impact of losing key […]
Qualcomm beat Wall Street’s sales and profit forecasts for its second quarter as the mobile chipmaker’s performance was boosted by the launch of new smartphones including Samsung’s Galaxy S8. However, the company on Wednesday warned of greater uncertainty in its outlook for the next quarter because of its legal battle with Apple, some of whose contract manufacturers have withheld about $1bn in royalty payments to Qualcomm in […]
19 April 2017 The Bank recorded a Net Profit of BD 14.74 million (US$ 39.20 million) for the first quarter of 2017 compared to BD 17.76 million (US$ 47.23 million) for the corresponding period of the previous year, a decrease of 17.0 percent. The Bank achieved an Operating Profit of BD 19.05 Million (US$ 50.66 Million) for the first quarter of 2017, an increase of 3.8 percent […]
Bill O’Reilly, the biggest star at Rupert Murdoch’s Fox News Channel, is leaving the cable news network after an independent investigation into claims that he sexually harassed several women. “After a thorough and careful review of allegations against him, the company and Bill O’Reilly have agreed that Bill O’Reilly will not return to the Fox News Channel,” 21st Century Fox, Fox News’ parent company, said in a […]
The next most-generous companies listed are Quicken Loans ($750,000), Wynn Resorts ($729,217), Chevron ($525,000), American Financial Group ($500,000), Intel ($500,000) JPMorgan Chase and Co. ($500,000), Citgo Petroleum ($500,000), oil comapny BP Corporation of North America ($500,000), casino developer and Ultimate Fighting Championship parent Fertitta Entertainment ($500,000), Manhattan real estate investment firm Tahl Propp ($500,000) and the MacAndrews and Forbes Group ($500,000), which owns military contractor AM General, among other companies. And other six-figure […]
April 19, 2017 by: Vinay Pande and Gerald Lucas The most prominent beneficiary of the so-called Trump trade has been equities, with total returns of 10.5 per cent from the S&P 500 and 10 per cent from the MSCI All-Country World Index since the US election. However, pinning a global bull market on one individual is dangerous. Several other drivers have supported it, making it even more […]
A giant jail ship with thousands of pods similar to the ‘sky cells’ that kept Tyrion Lannister prisoner in Game of Thrones has been designed by architects. Designers have drawn up plans for a giant boat that could hold 3,300 prisoners in its paper sails. They say the ship is designed to be a prison for the tax-avoiders named and shamed in the Panama Papers. A giant […]
Last summer Betsy O’Donovan, the incoming Executive Director of The Daily Tar Heel, wrote an essay on Medium charting the dire financial situation of UNC-Chapel Hill’s student newspaper. It started pretty bluntly: “The Daily Tar Heel is a news organization, and we don’t dodge the facts: This 123-year-old institution has two years to figure out its finances.” The Daily Tar Heel, like many news organizations these days, […]
On Friday night, the White House began releasing financial disclosures for scores of key employees — including familiar names such as Press Secretary Sean Spicer, Counselor to the President Kellyanne Conway and Chief Strategist Stephen K. Bannon. Reporters from dozens of news organizations, including the Associated Press, the New York Times, ProPublica and the Washington Post, then compiled and reported on the documents, which the White House released one-by-one. The Center for […]
By Ernest Scheyder | HOUSTON HOUSTON Nearly a century after Chevron Corp amassed the No. 2 stake in America’s largest oilfield, Chief Executive John Watson is hitting the accelerator on developing the company’s vast Permian Basin holdings. In an interview, Watson made clear his desire to put the West Texas to New Mexico expanse in the ranks of Chevron’s biggest ventures. That is a stark change from […]
Iceland’s finance minister has admitted it is untenable for the country to maintain its own freely floating currency, just days after it lifted capital controls imposed in the wake of its near financial collapse in 2008. Benedikt Johannesson told the Financial Times that the Nordic island of just 330,000 people would look at options to link Iceland’s krona to another currency, most likely the euro or pound. […]
Australian telecommunications provider TPG has announced spending a further SG$23.8 million on acquiring more mobile broadband spectrum in the Singaporean market, winning 2x 5MHz in the 2.5GHz band during the general spectrum auction this week. “We are very satisfied with the allocation obtained in the new entrant spectrum auction, and are now very pleased to have successfully taken the opportunity to add to our portfolio of spectrum […]
By Stephen Nellis | SAN FRANCISCO SAN FRANCISCO Apple Inc’s decision to stop licensing graphics chips from Imagination Technologies Group Plc is the clearest example yet of the iPhone maker’s determination to take greater control of the core technologies in its products – both to guard its hefty margins and to position it for future innovations, especially in so-called augmented reality. The strategy, analysts say, has already […]
North Korea has fired a missile into the Sea of Japan, with the latest provocative gesture from Pyongyang coming just days before US President Donald Trump meets his Chinese counterpart Xi Jinping. The Pentagon said North Korea had fired the missile at 6.42am local time on Wednesday and that it had landed in the sea nine minutes later. It said the rocket, believed to be a medium-range […]
Kuwait will increase its borrowing on international markets to plug a budget deficit resulting from low oil prices, the finance minister said on Tuesday. The move comes after the Gulf state raised $8 billion (7.5 billion euros) last month in its first international bond issue. “We will continue to be present in the international (debt) market but in a prudent, rational way,” Finance Minister Anas al-Saleh told […]
Fox News is facing fresh legal and financial challenges after a third employee joined a racial discrimination lawsuit while a dozen brands stopped advertising on Bill O’Reilly’s top-rated programme following new allegations of sexual harassment and verbal abuse. The allegations that the cable network knew of complaints from black employees two years ago and failed to investigate them, coupled with the news of advertisers distancing themselves from […]
Italian government bond prices were lower on Monday, as investors focused on signs of political sclerosis rather than economic data pointing to strength in manufacturing and a drop in the ranks of the unemployed. The difference between Italian 10-year sovereign bonds and the benchmark German Bund — a key measure of investor confidence as it shows the premium traders are demanding to buy Italian debt — hit […]
AIRPORT DUTY A woman immigration officer welcomes arriving passengers at Ninoy Aquino International Airport. —LYN RILLON The Bureau of Immigration will assign more employees to the airports to deal with a staff shortage caused by mass resignations and leaves of absence involving immigration officers. President Duterte’s order to stop payment for overtime work has led to the departures, according to Justice Secretary Vitaliano Aguirre II. Malacañang said […]
UNITED NATIONS United Nations Secretary-General Antonio Guterres warned that a U.S. cut in funding for the U.N. Population Fund could have “devastating effects” on vulnerable women and girls around the world, a spokesman said. “The Secretary-General deeply regrets the decision by the United States to cut financial support for the U.N. Population Fund, which could have devastating effects on the health of vulnerable women and girls and […]
Greek ministers and the country’s bailout monitors were on Tuesday trying to strike a deal on the pension and labour market reforms needed to unlock further financial aid. With the clock ticking down to more than €6bn in debt repayments that Athens must make in July, negotiators say an accord on the main elements of the policy package must be reached soon to stave off the risk […]
RIYADH British Prime Minister Theresa May said on Tuesday she would raise “hard issues” with Saudi Arabia’s leaders during her visit, as critics urged her to pressure Riyadh over its war in Yemen and human rights record. May was expected to explore ways of boosting trade ties with the kingdom during her two-day visit, her second to a Gulf Arab state since Britain decided to leave the […]
The ongoing retail massacre claimed its latest victim this morning when iconic luxury retailer Ralph Lauren said it would shut its flagship Polo store on Fifth Avenue in New York City, among other office and store locations, and cut jobs as part of a cost-cutting plan. The company also said on Tuesday that it would integrate its products from the Fifth Avenue store into the Ralph Lauren […]
DUBAI // Lawyers will provide free advice to residents in financial trouble as part of a new initiative. Dubai Courts and 81 law firms will offer free legal consultations to those who cannot afford a lawyer as part of the Year of Giving drive. Business owners and residents going through insolvency and relatives in family disputes will be among those to benefit. The programme, called Sanabel Al […]
