Robert Mercer, co-chief executive of the hedge fund Renaissance Technologies and one of Donald Trump’s biggest donors, has been sued by a former employee who says he was fired after he publicly criticised his boss’s support for the US president. David Magerman, a long-time research scientist at the fund who had helped it build computer algorithms that make investment decisions, was terminated after giving two newspaper interviews […]
The biannual OpenStack Summit opened with Jonathan Bryce, executive director of the OpenStack Foundation, saying “We’re a inflection point … We are moving into the second generation of the cloud.” And OpenStack is leading the way. What are these generations? The first generation was built on immature technologies that required expert architects, engineers, and developers. Only large technology companies, such as eBay and Yahoo, could implement them. […]
Tyson Food, the largest producer of poultry in the US, lagged behind the S&P 500 on Monday after it disclosed that the office of Florida’s attorney-general is investigating potential anti-competitive behaviour in the chicken market. Tyson’s stock price fell 5.7 per cent to $59.70 on Monday morning — its lowest level since December 2016. Guidance for revenue derived from chickens was reduced, hitting Tyson’s stock price, said […]
When it comes to international news, The New York Times doesn’t want to be BuzzFeed, HuffPost or The Guardian. It wants to be, well, The New York Times. Whereas other publishers are looking to lure massive new audiences with editions published in various languages, The New York Times is being deliberately conservative with its foreign-language offerings. It has Spanish- and Chinese- language homepages but isn’t planning to […]
Monday 16:30 BST What you need to know • The euro is losing momentum after touching a six-month high, down 0.6 per cent at $1.0925 • New York equity markets are muted; European equities markets are falling back, led by banks after early momentum from the French election continues to fade • Oil prices have also been volatile with both Brent and WTI seesawing either side of […]
KUALA LUMPUR Malaysia’s most-wanted member of the Islamic State militant group has been killed in Syria, police chief Khalid Abu Bakar said on Monday, citing intelligence information. Muhammad Wanndy Mohamed Jedi, 26, who was on a U.S. list of global militants, was the alleged mastermind behind a grenade attack on a Kuala Lumpur bar last June which injured eight people. It was the first and so far […]
By Thierry Chiarello and Sarah White | PARIS PARIS Emmanuel Macron may have won Sunday’s presidential election by a comfortable margin, but even his supporters’ enthusiasm is tempered by the scale of the challenge that the inexperienced politician faces in tackling France’s deep-seated economic, social and security problems. Macron, a former economy minister who had never previously stood for elected office, beat far-right leader Marine Le Pen […]
By Nigel Stephenson | LONDON LONDON European stocks and the euro pulled back on Monday from highs touched after Emmanuel Macron’s emphatic but well-flagged victory in France’s presidential election as investors’ focus shifted from politics to monetary policy. With the political risks that have dominated European markets in a year packed with elections seen receding, the European Central Bank is expected to have more room to tighten […]
DUBAI // Ten people were injured when a ship hit a crane at Jebel Ali Port in Dubai. Port operator DP World said a CMA CGM container vessel was attempting to berth at Terminal 1 when it collided with the harbour wall “striking the leg of a quay crane causing it to fall”. It added that a second crane was shifted off its rails during the incident […]
Emmanuel Macron has swept to emphatic victory in France’s presidential election, clinching 66 per cent of the vote to beat far-right candidate Marine Le Pen. The National Front candidate’s 34 per cent share fell well short of the most optimistic projections for Ms Le Pen, which had suggested she could win as much as 45 per cent of the vote in the second round. Mr Macron’s victory […]
TAIPEI China should not politicize Taiwan’s participation in a U.N. health meeting, Taiwan health activists said on Monday, and China’s president should “do the right thing” and let the island attend for the benefit of global health. Self-ruled Taiwan wants to attend the May 22-31 annual meeting of the decision-making body of the World Health Organization (WHO) in Geneva, but has accused Beijing of obstructing its efforts […]
Globally, billions of dollars are lost to fraud every year, and with the growth of ecommerce business models over the past five years, payments startup Stripe is putting its transaction-based insights to good use in an effort to block fraudulent activity from its platform. Speaking with ZDNet, Stripe’s head of machine learning Michael Manapat said that internet businesses are in a uniquely liable situation of having to […]
08 May 2017 Sharjah – The season’s biggest sale of consumer electronics and fashion products is all set to open as the second edition of mega shopper will be held at Expo Centre Sharjah from May 10 to 13, 2017. Considered as single-largest consumer electronics and fashion event, the 2nd Consumer Electronics Fashion – Big Shopper 2017 promises to be the largest showcase of the latest in gadgets, […]
Emmanuel Macron’s triumph in the French presidential election nudged the euro to a six-month high against the dollar, with analysts and investors predicting that the result could spur a return of money to the eurozone. The euro inched up 0.1 per cent to $1.1021 in the hours after it became clear the centrist had beaten Marine Le Pen, before dipping 0.1 per cent to $1.0977 as Asian trading started. […]
Shipment volumes and market shares for the Chinese market. (Image: IDC) Chinese smartphone maker Huawei has overtaken Oppo as the number one smartphone seller in China for Q1 2017, research firm IDC has revealed. Of the total 103.1 million smartphones shipped to China during the first quarter, Huawei’s shipment volume reached 20.8 million units, a year-over-year increase of 25.5 percent, according to IDC’s Quarterly Mobile Phone Tracker. […]
BERLIN Europe’s political establishment entered 2017 in a state of panic. Britain had voted to leave the European Union six months before and the United States had just elected a president who was hostile to their grand project and the values it stood for. The same forces that had led to Brexit and Donald Trump – popular anger with distant elites, economic inequality and immigration – threatened […]
Thousands of new homes, schools and offices may be using much more energy than they should, and the reason is rather unexpected, according to new research. (via WSJ)
Doha, Qatar – 7 May, 2017 Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, was awarded the Product Innovation Award under the Islamic Finance category from Global Finance. The award recognized QIB’s efforts in introducing innovative sharia compliant products that meet customers’ needs by providing them with long-term deposits with flexible profit payment options. The long-term deposits, with flexible profit payment options and higher expected yields, give […]
Sign up to receive FirstFT by email here Emmanuel Macron, an independent centrist, won an emphatic victory in France’s presidential run-off against Marine Le Pen, the far-right Front National leader, on Sunday, taking 65.1 per cent of the vote, according to estimates. Mr Macron’s victory is a phenomenal achievement for the 39-year-old former Rothschild banker, who has never before held elected office and whose political movement En Marche! was […]
By Noah Barkin and Leigh Thomas | BERLIN/PARIS BERLIN/PARIS After a decade of slow growth, rising unemployment and dwindling competitiveness, France elected a president on Sunday who says he has a plan to pull the country out of its economic malaise. Emmanuel Macron, a former investment banker who quit the government of Francois Hollande twice out of frustration with the slow pace of reforms, is promising […]
Dubai, 7 May 2017 Dentons has advised DAMAC Real Estate Development Limited, a leading developer of high-end and luxury residential property in the Middle East, on its tender offer in respect of the outstanding US$650 million Trust Certificates, due 2019, and a simultaneous new debt issuance of a US$500 million five year Regulation ‘S’ senior unsecured sukuk, maturing in April 2022, which completed on 20 April 2017. […]
Paraguay President, Horacio Cartes, has announced plans to open the country’s first commercial representative office in the UAE later this year, which will aim to boost trade and investment flows between the two countries. The announcement came during a recent meeting with a Dubai Chamber delegation in Asuncion, where he expressed his intention to build bridges between business communities on both sides. The meeting was held on […]
Roma Trivedi’s earliest memory of giving something back to the community is of when, as a 3-year-old, she accompanied her mother to an old-folks home in the United States, where she would sing and dance for the elderly. Since then, she has associated charity with joy and fun. When she was 8, she set up the Hope programme at her school in Philadelphia, which provided lunch for […]
An eerie calm in capital markets is fuelling fears on Wall Street that a first-quarter rebound in trading revenues could prove a one-off. Big investment banks reported generally solid profits over the first three months of the year, as investors reset their portfolios to take account of higher base interest rates, and as companies front-loaded efforts to raise money. For all bar four of the top 14 […]
