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Australian rail freight company Aurizon has announced the termination of its Freight Management Transformation (FMT) project, contracted to SAP since 2014, resulting in an impairment charge of AU$64 million. The FMT project in 2014 attempted to bring 18 separate legacy systems used for logistics planning, scheduling, ordering, and billing into a single platform. However, following a review of the project, the Australian Securities Exchange (ASX)-listed company has […]

The publication of Michael Lewis’s book Flash Boys in 2014 thrust the arcane world of ultra-high frequency trading firms into the popular consciousness, prompting debate over everything from the industry’s morality to the possible risks it posed to financial stability. What was undeniable was how several of these companies were staggeringly profitable, generating hundreds of millions of dollars by trading at speeds made up of fractions of […]

Investors, economists and strategists have begun to question their enthusiasm for Donald Trump’s new administration, following the president’s decision to block entry to the US from seven Muslim-majority countries. Mr Trump’s travel clampdown appeared to knock some of the confidence from markets, after stock indices reached record highs last week following speculation the new president will deliver faster economic growth and accelerating price rises — dubbed “Trumpflation”. […]

The ranks of business leaders attacking Donald Trump’s immigration clampdown swelled on Monday as executives at several large US companies criticised the measures while Amazon said it was considering a legal challenge. Executives at the financial groups Goldman Sachs, Citigroup and MasterCard, the carmaker Ford and beverage group Coca-Cola risked a clash with the president as they criticised the restrictions on travellers from seven Muslim-majority countries. Amazon’s Jeff […]

January 31, 2017 by: Hudson Lockett in Hong Kong Tuesday 01:50 GMT Overview A shaky Monday for US stocks rolled into Asian trading on Tuesday as confusion persisted over President Donald Trump’s executive order to clampdown in immigration and ahead of the Bank of Japan’s interest rates decision. Hot topic Stock markets remained closed in Hong Kong and China for the lunar new year holiday, but those […]

By William Shaw Law360, London (January 30, 2017, 8:30 PM GMT) — A major European Parliament committee will next month investigate the role played by lawyers, accountants and bankers in the tax evasion networks revealed in last year’s Panama Papers leaks, the European Union legislative body said Monday. The Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion will take testimony from investigative journalists and […]

By Rodrigo Campos | NEW YORK NEW YORK Major U.S. stock indexes posted their largest drop so far in 2017 on Monday as investors worried that a curb on immigration ordered by Donald Trump was a reminder that some of the U.S. president’s policies are not market-friendly. An executive order issued by Trump on Friday banned immigration from seven Muslim-majority countries, including legal residents and visa holders, […]

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US stocks on Monday faced the heaviest sell-off since before the presidential election in the biggest reversal yet of the so-called Trump trade that has carried equities to record peaks. The S&P 500 index, a broad barometer of American stock performance, fell as much as 1.2 per cent in late-morning trading in New York. That represented the steepest intraday fall since November 1 and came after it […]

By Gertrude Chavez-Dreyfuss and Anna Irrera | NEW YORK NEW YORK Day traders love making bets on tweets from U.S. President Donald Trump, but some of the most prominent quantitative strategists from hedge funds and banks are not quite ready to make big, bold trades on his social media musings. The president’s active Twitter presence has lifted volatility in financial markets, which is good for day traders […]

(Image: file photo) “No industry, organization size or geographic location, is immune to a data breach.” That’s the bottom line to Risk Based Security’s recently published end-of-year data breach report, which concluded that over four billion records had been stolen during 2016. The report confirmed that three companies accounted for half of the records stolen in breaches reported last year. Yahoo saw over 1.5 billion records stolen […]

ISLAMABAD Pakistan on Monday ordered Hafiz Saeed, accused by the United States and India of masterminding the 2008 attacks on the Indian financial capital Mumbai that killed 166 people, placed under house arrest, a spokesman for Saeed’s organisation said. Police arrived at the headquarters of the Jamaat ud Dawa charity that Saeed runs in the eastern city of Lahore with orders to place him under house arrest, […]

Pakistan’s interior minister on Monday criticized President Donald Trump’s restrictions on immigration from several Muslim-majority countries, saying the move would harm the global fight against terrorism, amid concerns that Pakistanis may also be impacted. Mr. Trump issued an executive order Friday, suspending the U.S. refugee program for four months and banning the entry of citizens from seven Muslim-majority countries: Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen. […]

Panama Papers: How Has Guernsey Responded?Mondaq News Alerts (registration)The simple reason for this is that for the past in excess of 20 years Guernsey has been taking active steps to minimise the risk of the types of shortcomings revealed by the Panama Papers happening in Guernsey. And we are continuing to do so. and more » (via Google News)

European, Asian stocks and S&P futures all drop after traders were left with a sour taste from the potential fallout of Donald Trump’s order halting some immigration and ahead of central bank decisions from the U.S. and Japan.  Markets in Hong Kong, China, Malaysia, Korea, Singapore, Taiwan and Vietnam are all shut due to the Lunar New Year public holiday, leading to a quiet Asian session. Oil […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian share markets and Wall Street stock futures fell on Monday after immigration curbs introduced by U.S. President Donald Trump heightened concerns about the impact of the new administration’s policies on trade and the economy. European markets were also poised for a sluggish start, with financial spreadbetter CMC Markets expecting Germany’s DAX to start the day 0.3 percent lower, Britain’s FTSE […]

Leaders in Iran and Iraq, two of the countries targeted by Mr. Trump’s order, issued furious denunciations on Sunday and vowed to take retaliatory measures. But the silence in the capitals of Muslim-majority countries unaffected by the order reflected a lack of solidarity and an enduring uncertainty about the direction that Mr. Trump’s foreign policy might take in some of the world’s most volatile corners. Continue reading […]

SAHIWAL: Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Sunday said that the Panama Papers case is historic as for the first time the ruling family is being held accountable in Pakistan. Imran Khan addressing a public rally in Sahiwal said that they will fully support the decision of the Supreme Court but will never accept the corruption of the family of Prime Minister Nawaz Sharif. “No family […]

The world’s largest technology companies condemned Donald Trump’s executive order on immigration after coming under pressure to speak out from employees. Leaders of companies including Apple, Google and Facebook sent emails to their workforces attacking the move to block refugees and entry to the US from seven Muslim-majority countries.  Tim Cook, Apple chief executive, said the company had told the White House the company did not support the policy. […]

Abu Dhabi 29 January 2017 His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, may Allah protect him, issued, as Ruler of Abu Dhabi, a law concerning the Abu Dhabi Government’s financial system. The law seeks to set a comprehensive regulatory framework for public financial resources to guarantee that government work is conducted within an institutional framework with a high level of transparency and […]

One of the most thought-provoking installations at the current edition of the Kochi-Muziris Biennale in southern India is by French-Indian artist Chittrovanu Mazumdar. Spread out over four rooms, the interactive artwork invites the visitor to walk through dark tunnels and wider spaces featuring tangled wires, suspended lights inside metal bowls and boxes stuffed with metal and scraps. With time the key theme, the work is intended to […]

A day after protesters descended on John F Kennedy airport in New York and a judge stayed the executive order temporarily banning entry into the US for people from seven majority Muslim countries, a number of travellers were still being held in custody on Sunday. There were confused scenes at JFK airport, with immigration officials unclear on how the orders should be implemented, according to lawyers helping […]

CAIRO/ERBIL, Iraq Fuad Sharef and his family waited two years for a visa to settle in the United States, selling their home and quitting jobs and schools in Iraq before setting off on Saturday for a new life they saw as a reward for working with U.S. organisations. But Sharef, his wife and three children were prevented from boarding their connecting flight to New York from Cairo […]

In this Thursday, Jan. 19, 2017, photo, a fake news story is positioned near ads from major global corporations on The Red Elephants website. It may not be intentional, but major corporations are helping prop up sites that publish false news stories. Experts say it’s not so easy for brands to make sure they don’t end up on websites that publish false stories. (The Red Elephants via […]

The law firm Mossack Fonseca & Co in Panama City, Panama | Joe Raedle/Getty Images Center-right MEPs want to water down rules proposed in the aftermath of last year’s Panama Papers scandal — a leak of more than 11 million documents from the Panama-based law firm Mossack Fonseca — over concerns about privacy. The proposed changes to EU anti-money laundering laws are currently bogged down in confidential discussions between MEPs […]

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