After December’s No vote in the Italian referendum, the rise of Donald Trump and the British vote to leave the EU, it appears that the political landscape of the developed world is being redesigned by the victims of globalisation and technological change. Anger towards political elites is pervasive. Yet a few rage-free zones remain, of which Japan is the most conspicuous. How come this country, whose economy […]
Marine Le Pen will borrow €6m from a company owned by her father to fund her campaign for the French presidency this year, after the leader of the far-right National Front failed to secure financing from traditional banks. Florian Philippot, the deputy head of the party, told Europe 1 radio on Sunday that the money would come from a group called Cotelec, which is owned by Jean-Marie […]
Towards the end of October 2016, several Indian banks announced they would be recalling millions of debit cards in the wake of a data breach that affected the backend of software that powered an ATM network there. It was a situation that could have been better mitigated; a government-sponsored organization tasked with sharing information about data breaches completely missed the warning signs that a breach was taking […]
Authored by Eric Zuesse via Strategic-Culture.org, I’m a former lifelong Democrat, stating here a clear and incontestable fact: Barack Obama is a failed President. It’s true not just because of the sad realities such as that «Top Ex-White House Economist Admits 94 % Of All New Jobs Under Obama Were Part-Time» — or, as the economists Alan Krueger and Lawrence Katz wrote in the original of that study: «94 percent of the […]
Dubai Chamber of Commerce and Industry has announced that it will launch five new initiatives in 2017 to boost start-ups and entrepreneurs. No details about the new schemes were revealed but a senior Chamber official said in comments published by news agency WAM that efforts to foster innovation and develop Dubai’s entrepreneurial ecosystem will remain a major priority. “With the UAE’s focus on instilling a spirit of […]
U.S. fishing and hunting equipment retailer Cabela’s Inc (CAB.N), which is being bought by privately held rival Bass Pro Shops, said the Federal Trade Commission had sought more information from the companies about the deal. Cabela’s shares were down 7.6 percent at $56.98 in premarket trading on Friday. Cabela’s did not provide details about the FTC’s request. As part of the proposed $5.5 billion deal, announced in […]
New penalties for professional advisers who help their clients to evade tax come into force today, as part of a bid by the government to tackle abuses of the excise system. Accountants, bankers, lawyers and other advisers can be fined by up to the value of the tax they helped their client evade, up to a maximum of £3,000. HMRC will also name and shame company involved. […]
Dubai-UAE: 29 December, 2016 As the New Year approaches, it brings with it new expectations, new aspirations and new resolutions. Along with shedding a few kilos, picking up a new skill or travelling to a faraway land, it’s also time to get a handle on your finances. Here are a few questions for your bank as a first step in this direction. Ask all the usual questions, […]
It has been a bad year for numbers. At the start of 2016, Howard Wainer, a much revered Princeton-educated statistician, eulogised that “prediction models combined with exit polls let us go to sleep early with little doubt about election outcomes”. By the end of a year in which data — in the shape of facts, polls and forecasts — struggled to deal with an uncertain world, Mr […]
Globalization, the path that the world economy has largely followed for decades, took some hefty blows in 2016. The election of Donald Trump as U.S. president and Britain’s decision to leave the European Union have raised questions over the future of tariff-free trade and companies’ freedom to move production to lower-cost countries. Borders are back in vogue. Economic nationalism is paying political dividends. “We […]
BEIRUT Lebanese daily newspaper As-Safir printed its final edition on Saturday, forced to close after 42 years because of financial problems as other news outlets in the country face similar difficulties. The front page led with an editorial entitled “The nation without As-Safir”. “The economy is not well, and nor is politics. This cannot but reflect on and impact the press,” the article said. Chief editor Talal […]
Market intelligence and networking platform builds momentum as it gathers senior industry decision-makers in third outing. Dubai 29 December,2016 MAZ Chartered Accountants, the region’s leading audit, taxation, financial and management consultancy has held its 3rd MAZ Annual Seminar. The Seminar’s third iteration built on previous years’ success to curate a powerful platform where professionals accessed industry intelligence, developed contacts, improved professional networks and kept pace with a […]
BEIJING China’s economy is on a steady growth path as 2016 ends, supported by a housing boom and billions in government investment, but the mood of policymakers is more cautious than celebratory as they face “complexity” in the new year. Controlling risks has been a constant refrain in recent months as the focus of policymakers switches to taming asset bubbles and checking unbalanced growth stemming from efforts […]
Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2016. FT and ‘Financial Times’ are trademarks of The Financial Times Ltd. The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice. Source link
BEIJING There is no space for Hong Kong independence in the “one country, two systems” agreement under which Beijing governs the former British colony, but there can be tolerance for differences in their systems, a senior Chinese official said. Chinese leaders are increasingly concerned about a fledgling independence movement in Hong Kong, which returned to mainland rule in 1997 with a promise of autonomy known as “one […]
While you were doing your Christmas shopping, an old-fashioned takeover contest was being fought out in an obscure corner of the stock market. The target was MP Evans Group, one of the very few plantation companies left listed in London. The outcome shows that there are bargains to be found and that some institutional shareholders, at least, will take the long view over the quick buck. Evans […]
There are two stories we can tell about US higher education. In the first, public two- and four-year colleges face increasing student service costs, 20 percent less state support than they received before the recession, and a shortfall they pass onto students, who now graduate with an average of $30,000 of debt. In the second story, those institutions have contained costs, keeping tuition increases at inflationary levels, […]
Apple Inc (AAPL.O) will trim production of iPhones by about 10 percent in the January-March quarter, the Nikkei financial daily reported, citing calculations based on data from suppliers. The company slashed output by 30 percent in the January-March quarter this year due to accumulated inventory, the Nikkei reported. s.nikkei.com/2hClWTv Apple’s shares were down 0.85 percent in midday trading. The company did not immediately respond to requests for […]
A year ago the coffers at Argentina’s central bank were empty as the country teetered on the brink of a currency crisis. Now banks are scrambling to fly dollars back to the US as their vaults fill to bursting with piles of cash. That would sound like good news for Alfonso Prat-Gay, who as finance minister this week boasted that his tax amnesty had already repatriated $90bn hidden […]
Hindsight Capital beats the market, and all competition, every year. But how would it do over a decade? For the uninitiated, Hindsight Capital is an imaginary hedge fund that is blessed with perfect foresight, which features at this time of year in the Long View column. As real fund managers deploying real money have to hedge their bets, it always does far better than any of them […]
Financial markets in 2016 endured an escalation of negative interest rates, the collapse and subsequent rebound in commodity prices and fluctuating stock market valuations. The test for investors began in week one, as fears of a China slowdown roiled stock indices weeks after the Federal Reserve began to normalise policy. Over the ensuing months, the Brexit vote and US election would prove significant mile markers, shift thinking […]
Italy’s antitrust chief has called for EU member states to set up a network of public agencies to combat fake news. Giovanni Pitruzzella said the regulation of false information on the internet was best done by the state rather than by social media companies such as Facebook. In an interview with the Financial Times, Mr Pitruzzella, head of the Italian competition body since 2011, said EU countries […]
The number of new mutual funds launched in the US fell sharply in 2016, reflecting the crisis of confidence in active management and the shift by investors into exchange traded funds. The number of mutual funds shutting down has also jumped to levels not seen since the financial crisis, according to the latest figures from the research group Morningstar. The result is that the total number of […]
ABU DHABI // Authorities have launched awareness campaign against the unofficial remittance of money, which can lead to exploitation, fraud and security risks. New figures show that more than a fifth of money remitted, for example, to Bangladesh from the UAE, is moved through these illegal means. According to the Bangladesh Bureau of Statistics, in the 2015-2016 financial year, the 700,000 Bangladeshis in the UAE sent Dh9.9 […]
