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Since announcing the creation of ProPublica Illinois, president Richard Tofel has heard from people in other states hoping the nonprofit investigative organization will set up shop in their cities, too. And it might. But first, they have to figure out the prairie state. ProPublica announced Wednesday the creation of ProPublica Illinois, the search for a Chicago-based editor and seed funding from the Ford Foundation. Two important things […]

Major U.S. stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump’s Nov. 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations. Supporting the upbeat sentiment on Thursday was a report that showed the number of Americans filing for unemployment benefits […]

Pebble’s time ran out. Pebble did not launch the first smartwatch or even the first smartwatch of the modern era. But its combination of long battery life, daylight-readable display and iOS compatibility led it to become the highest-grossing Kickstarter campaign ever. Its campaign for the Pebble Time — which noted that over a million Pebble watches had been sold and that it was the top-selling smartwatch on […]

Thursday 21:00 GMT Overview The European Central Bank’s latest policy surprise fuelled a volatile session for the euro and government bonds as participants appeared, initially at least, to struggle to assess its implications. But European stocks rose to 11-month highs while Wall Street overcame an early bout of fatigue to set yet more record peaks. Oil prices resumed their upward path, even as a stronger dollar unsettled […]

It was Donald Trump’s press conference in the early hours of November 9 that some pinpoint as the moment fears about what his presidency would mean for stock markets turned into euphoria about his victory. Campaign pledges to give a boost to the US economy were repeated, as the newly president-elect struck a moderate, even conciliatory, tone. Whatever you think of the reaction in financial markets since, […]

National Bank of Abu Dhabi (NBAD) secured shareholders’ assent to merge with First Gulf Bank (FGB) at a meeting on Wednesday, a spokesman for NBAD said. First Gulf Bank also secured shareholders’ approval on Wednesday, FGB’s chief executive Andre Sayegh said. The pair announced in July that their boards had approved the tie-up, which will create one of the largest banks in the Middle East and Africa […]

The European Central Bank has decided to scale back its landmark quantitive easing programme from €80bn to €60bn a month, in a move that responds to hawks’ concerns about ultra-loose monetary policy but which could unsettle markets. The bank confirmed that it would buy €80bn a month of bonds under the current leg of the programme until March, but added that it would reduce the purchase size […]

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Can you imagine a bank where artificial intelligence runs checking accounts, debit cards, and wire transfers? Image: Getty Images/iStockphoto The Milan-London startup connection is getting stronger. After MoneyFarm and Soundreef, yet another promising Italian startup, Euklid, is opening up shop in the UK capital, moving its headquarters to be part of the city’s vibrant ecosystem. The team selected London’s Level39 fintech accelerator as its new center of […]

This is part of a series on the global rise of exchange traded funds ETFs are a global phenomena, but there are significant differences between the market in Europe and the US. This piece examines the most important. The US is far bigger Demand for exchange traded funds in Europe has never been higher. Assets held in funds and products listed across the region hit a record […]

The Singapore Exchange was hit by its second disruption this year with the start of trading in some derivatives contracts delayed by over two hours on Thursday morning. It is the latest in a series of technical failures that have become an increasing source of embarrassment in one of Asia’s main financial centres. Most recently, SGX in July halted trading on its securities market for five hours […]

SYDNEY Asian shares hustled to one-month highs on Thursday after Wall Street strode to another record, while bonds rallied on wagers the European Central Bank would extend its stimulus campaign at a policy meeting later in the session. Risk appetite got an extra boost when China reported upbeat trade figures with exports and imports both beating forecasts. Resource imports were very strong, a major reason prices for […]

  Panama Papers leak has ‘enormous’ financial impact Caribbean News Now (press release) (blog) WASHINGTON, USA (ICIJ) — Over the past eight months, governments have reported using the leaked Panama Papers files to help recoup or seize tens of millions of dollars in unpaid taxes or other assets, including more than $80 million in Colombia, … and more » (via Google News)

‘Mashreq Bot’ is designed to simulate a conversation with customers using Artificial Intelligence on Digital Platforms Dubai, UAE – 8th December 2016 Mashreq, the UAE’s leading financial institution, has introduced its latest innovation – UAE’s First ‘Mashreq Bot’; an Artificial Intelligence agent – or chat-bot – programed to simulate an intelligent conversation with users. Customers can use the chat-bot to display Mashreq products and perform card-less cash […]

Data should be given “personalities”, with different characteristics, so businesses can better analyse the information and extract actionable insights. Many organisations today were struggling to understand the data available because there was so much information to go through and analyse, said Julie Rodriguez, creative director at Sapient Global Markets. Speaking at the Strata+Hadoop World conference in Singapore this week, Rodriguez pointed to the concept of “data personality” […]

The UK investigation into October’s “flash crash” in sterling has focused heavily on the Japanese trading operations of Citigroup, which fired off repeated sell orders that exacerbated the pound’s fall, according to bankers and officials involved in the inquiry. Citi’s traders are not believed to have started the slide in the currency in thin Asia trading but its Tokyo desk played a key role in sending the […]

General assembly meetings of FGB and NBAD held on December 7th Combined bank has total assets of approximately AED655 billion (US$178 billion), representing a 27% market share of UAE banking sector[1] Shareholders approve combined bank’s board of directors from effective merger date Effective date of merger towards the end of Q1 2017 as initially planned. Abu Dhabi, 7 December 2016 Shareholders in First Gulf Bank PJSC (FGB) […]

 This article by David Haggith was published first on The Great Recession Blog:    I risked losing my fellow anti-establishment readers in September by suggesting Trump may be an establishment Trojan horse. After seeing Trump choose Pence as VP and a Goldman Sachs exec as campaign finance manager, I was concerned the establishment knew a citizen’s revolt was brewing and made sure that even the road to revolt led back to […]

German and French stocks are closing in on a 20 per cent gain from their post-Brexit low, as a weaker euro and a thawing in sentiment towards banks raise the prospect that markets which disappointed investors for much of 2016 end it in positive territory. While the rebounds of the the two largest equity markets on the continent have been overshadowed by the run of new record […]

07 December 2016 Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been performing reasonably well in light of the market conditions, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made following the fourth quarterly meeting for the year 2016, which was held on Wednesday December 07, 2016 at Alba. […]

Matteo Renzi will resign as Italian prime minister on Wednesday evening, bringing an end to nearly three years in office after he suffered a stinging defeat in a referendum on his flagship constitutional reforms. Mr Renzi announced his resignation on Twitter and his departure will be formalised with a visit to Sergio Mattarella, the Italian president, at 7pm on Wednesday. On Thursday, Mr Mattarella is expected to […]

This is part of a series on the global rise of exchange traded funds Have we reached Peak ETF? And are we therefore at last in a “stockpicker’s market” where active fund managers skilled in bottom-up stock selection can feast on the mispricings and anomalies that the herd of exchange traded funds have left in their wake? It is beguiling to think that this could have happened. […]

LONDON Citi (C.N) said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October’s “flash crash” in sterling, responding to a Financial Times report saying a trader at the U.S. bank exacerbated the pound’s fall. “Sterling fell sharply following a news event just after midnight UK time, when the GBP spot foreign exchange market was extremely illiquid,” Citi said. “Citi managed […]

By Beth Pinsker | NEW YORK NEW YORK Want to save a few quick bucks on your holiday shopping? Your credit card may offer some little-known perks that could save you money both upfront and after the purchase. Of the 100 most popular credit cards, 81 offered some kind of extended warranty, according to a study released on Wednesday from Creditcards.com, a card rating website run by […]

Abu Dhabi // Sheikh Mohammed bin Rashid led the UAE delegation to the two-day GCC Summit on Tuesday, which is also being attended by UK prime minister Theresa May as she looks to expand trade ties ahead of Britain’s exit from the European Union. The 37th annual talks among the six Gulf member states in Manama were expected to focus on security within the GCC, economic integration […]

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