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Boeing Chinese hackers are targeting aviation systems in the quest for information and intellectual property which will boost the country’s competitiveness, security researchers say. Cyberattacks against the aviation industry are nothing new, but with the inclusion of Internet-capable devices at the basic level of embedded devices to in-flight Wi-Fi and connected aviation systems, there are more avenues than ever that threat actors can exploit. Successful attacks which […]

By Nigel Stephenson | LONDON LONDON Global shares edged up on Tuesday, helped by gains in banks after Italy’s largest lender unveiled a 13 billion euro share issue, while the dollar held steady before a Federal Reserve meeting expected to deliver higher interest rates. UniCredit launched Italy’s biggest share issue to clean up its balance sheet and boost profitability in the latest move to strengthen the Italian […]

Cronologics Google has acquired the team behind Cronologics, a company focused on the development of operating systems suitable for wearable devices. Started in 2014 by former Google business employees, the company hoped to one day create the go-to platform for smartwatches. With the introduction of Android Wear and Apple watchOS, this dream did not come to fruition, but there is still a future for the startup’s team. […]

Algebris Investments, a London-based asset manager, is seeking to raise €1bn for a second fund aimed at Italy’s non-performing loans as investors’ interest in what’s been the Achilles heel of the country’s banking sector intensifies. The launch by Algebris, which has $6bn in assets under management, comes amid increased focus by foreign investors on the potential of Italy’s pile of €360bn of problem loans, of which €200bn […]

By Emmanuel Jarry and Andrew Callus | PARIS PARIS France’s far-right National Front leader Marine Le Pen, who wants to become president in next spring’s elections, celebrated Britain’s vote to leave the European Union. “Victory for freedom!” she said on her Twitter page in June after Britons voted for Brexit. “We now need to hold the same referendum in France and in (other) EU countries.” But unlike […]

After eight years in which interest rates in rich countries have kept close to all-time lows, a change of weather is in the air. Donald Trump’s election as US president and widespread expectations that the Federal Reserve will nudge rates higher this week have made their mark on the markets. The big question is whether short-term pressures for higher US interest rates are strong enough to overturn […]

International heads of state named on the rolls of clandestine companies in tax havens. Canada’s big banks facilitating tax avoidance through thousands of offshore enterprises. Strawmen fronting businesses to mask the identities of the real owners. After a year-long investigation into 11.5 million leaked tax haven documents, the Panama Papers were finally made public last April — and they landed like a bomb. […]

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Former Center for Public Integrity data editor David Donald, a pioneer and leader in the development of modern computer-assisted reporting worldwide, died Saturday at Reston Hospital Center in Virginia after a year-long battle with cancer. He was 64. Donald was one of the early and most successful practitioners of data-based, investigative journalism that relied on computer analysis. He became a passionate Pied Piper for such reporting, crisscrossing […]

TechnologyOne, an enterprise software company listed among the ASX 200, has claimed the Australian Taxation Office’s (ATO) corporate tax transparency report, which states the company has paid less than 30 percent tax in the 2014-15 financial year, is “both confusing and misleading”. The company’s executive chairman Adrian Di Marco said TechnologyOne’s effective tax rate would have been 30 percent had the government research and development (R&D) tax […]

Arab Petroleum Investments Corporation (Apicorp) has bought 30 percent of Falcon Cement Co, Bahrain’s largest cement producer, to help to drive economic growth in the region, the development bank said on Monday. The stake was bought from Islamic investment bank GFH Financial Group, which said it would remain a strategic shareholder in Falcon. The companies did not disclose the purchase price, but GFH has previously valued Falcon […]

Trading volumes across markets have soared following the US presidential election, a boon to Wall Street investment banks as money managers prepare for a new environment under the future Trump administration.  Since the November election result, there have been seven days when more than $20bn of investment grade debt has traded hands — a level that had previously only been breached 18 times since data has been […]

By Tom Bergin and Jim Finkle | LONDON/BOSTON LONDON/BOSTON Cyber attacks on the global banking system have continued – and succeeded – since February’s heist of $81 million from the Bangladesh central bank, underscoring the continuing vulnerability of the SWIFT messaging network, a SWIFT official told Reuters. The network, which handles trillions of dollars in transfers daily, has warned banks of the escalating threat to their systems, […]

Donald Trump has named Goldman Sachs president Gary Cohn to head the White House National Economic Council, marking his third top appointment from the ranks of the bank despite his pledge to sever links between Wall Street and Washington. The appointment of Mr Cohn, who serves as chief operating officer, leaves Goldman nursing another big departure from its leadership team just weeks after the news that the […]

Following Friday’s report by RCB’s Charlie McElligott which sought to answer “THE” question every investor is asking, namely “what could derail this rally“, today’s the cross-asset strategist has released a follow up analysis in which he warns that even though the bond battering continues – and is likely to continue for a while – the market is now being set up for a “massive mean-reversion” counter-trend rally […]

MIAMI – The government of Panama, anxious to show the financial world that it is engaged in meaningful reform, has announced that it is adopting the recommendations of the controversial independent committee that was hastily formed as a counter to the national reputational damage inflicted by the Panama Papers documents leak. However, the two non-Panamanian members of the committee resigned, charging that the project was flawed from […]

The MoU envisages bilateral cooperation between ICD and PTA Bank in order to promote and facilitate the execution of their respective mandates through financing and investments in their common member countries JEDDAH, Kingdom of Saudi Arabia, December 12, 2016/ — A Memorandum of Understanding (MoU) was signed between, the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of Islamic Development […]

Exchange traded funds have led to excessive trading and changed the way the stock market works, according to the man widely regarded as the father of passive investing, who is now calling for politicians to re-examine the sector. Writing in an opinion piece for the Financial Times, Jack Bogle, the founder of the Vanguard Group, the world’s largest passive manager, complains that the annual turnover of shares […]

From July 1 2017, users of fixed-line broadband capable of 25Mbps or more are set to be hit with a AU$7 monthly charge, to be contributed to a Regional Broadband Scheme, under draft legislation released by the government on Monday. Citing a net cost of AU$9.8 billion to NBN over the next 30 years due to running non-profitable fixed wireless and satellite services, while still needing to […]

Panama’s attempts at Panama Papers damage control fall shortCaribbean News Now (press release) (blog)MIAMI, USA — The government of Panama, anxious to show the financial world that it is engaged in meaningful reform, has announced that it is adopting the recommendations of the controversial independent committee that was hastily formed as a counter … (via Google News)

This is part of a series on the global rise of exchange traded funds Each day, the investing public hears news of the latest developments in exchange traded index funds (ETFs). But rare is the mention of traditional index funds, which I call Tifs, although the acronym has yet to gain acceptance. In 1976, I created the first Tif. It was named First Index Investment Trust (now […]

By Joyce Lee | SEOUL SEOUL South Korean Prime Minister Hwang Kyo-ahn will begin getting official briefings from aides of President Park Geun-hye on Monday, having assumed presidential authority in a caretaker role following her impeachment by parliament last week. Hwang has sought to calm anxiety over national security and to reassure financial markets while Park’s presidency is held in limbo pending the outcome of a Constitutional […]

By Howard Schneider | WASHINGTON WASHINGTON The Federal Reserve inaugurates the Trump era this week with a near-certain interest rate increase and new economic forecasts providing a first glimpse into whether the U.S. election has reshaped the central bank’s growth and inflation outlook. Fed fund futures show a 97 percent probability that the Fed will lift rates by a quarter of a percentage point at the end […]

The Islamic Development Bank has listed a $1.25 billion sukuk on Nasdaq Dubai, the region’s international financial exchange. It is the seventh sukuk listing on the exchange by the IDB, making it the largest sukuk issuer on Nasdaq Dubai at $8.55 billion. Altogether, Nasdaq Dubai has 56 sukuk listings totalling $43.96 billion, making it the largest exchange in the world for Sukuk by value. Based in Saudi […]

HONG KONG, December 12 Hong Kong’s Financial Secretary John Tsang has resigned his post pending an announcement he will run for the city’s top job next March, Cable TV news reported on Monday. The resignation ends months of speculation on whether 65-year-old Tsang, currently topping popularity polls, wanted to run for Chief Executive of Hong Kong. It comes after unpopular incumbent Chief Executive Leung Chun-ying announced last […]

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