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By Lucia Mutikani | WASHINGTON WASHINGTON New orders for U.S.-made capital goods rose less than expected in March, but a second straight monthly increase in shipments suggested business investment accelerated in the first quarter amid a recovering energy sector. While other data on Thursday showed a bigger-than-expected increase in first-time applications for unemployment benefits last week, the trend in claims remained consistent with tightening labor market conditions. […]

Growth in cable and internet customers and the box office strength of films, including the latest instalment in the Fifty Shades of Grey series, powered better than expected quarterly revenue and profit at Comcast. Net income at the largest US cable group, which owns the NBC TV networks and the Universal Pictures film studio, jumped 20 per cent to $2.6bn, or 53 cents a share, in the […]

GENEVA –  The U.N. human rights office says one of its independent experts will travel to Panama next month to investigate tax avoidance and evasion schemes like those revealed by the so-called “Panama Papers” leak. Juan Pablo Bohoslavsky, the office’s expert on foreign debt and human rights, has been asked by the U.N.’s Human Rights Council to study Panama’s efforts to improve financial transparency and reduce illicit […]

Since at its core, yesterday’s 1-page “tax plan” was a Goldman creation, who better to explain what Trump offered than Goldman Sachs itself, which it did overnight in a far lengthier note from its chief Washington analyst Alec Phillips.  Here is Goldman with an elaboration of the handful of bullet points contained on the much anticipated one page, extended to 6 pages. Q&A on the President’s Tax […]

MANILA, Philippines — The Republic of the Philippines and Brunei Darussalam issued a joint statement following the state visit of Prime Minister Hassanal Bolkiah to Manila. Bolkiah is also in the country to attend the 30th Association of Southeast Asian Nations Summit at the Philippine International Convention Center on Saturday. Read the full statement below. 1. At the invitation of the President of the Republic of the Philippines […]

Integrated lifestyle development establishes a new benchmark for experiential travel in the region Dubai, UAE – 27 April 2017 – Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, together with Marriott International (NASDAQ: MAR) today announced plans to launch the region’s first cinema-themed concept at Aloft Dubai City Centre Deira. The concept will feature a unique […]

By James Pomfret, Lawrence White and Sumeet Chatterjee | DONGGUAN, China/LONDON/HONG KONG DONGGUAN, China/LONDON/HONG KONG In the digital age, footfall in bricks-and-mortar outlets is an incomplete measure of business activity, but HSBC’s empty branches in the Pearl River Delta (PRD) suggest it’s not all plain sailing for the bank’s expansion in mainland China. HSBC, the world’s sixth-largest bank by assets, announced in 2015 that it would hire […]

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Deutsche Bank must set its sights higher, its chief executive said on Thursday, after its core investment banking businesses were outpaced by US rivals in the first quarter of the year. In the three months to March, Germany’s biggest bank managed a net profit of €575m, more than double the €236m it posted in the same period a year earlier, and ahead of analysts’ expectations of €522m. […]

By Joseph Nasr | DORTMUND, Germany DORTMUND, Germany For all its economic success, Germany has a growing problem with inequality and poverty, and yet Chancellor Angela Merkel seems to be deflecting the blame so far as the battlelines are drawn for elections in September. GRAPHIC – German income inequality tmsnrt.rs/2p3AtK4 Renowned for its highly-skilled workforce, Germany has in fact a greater proportion of working poor – people […]

The big announcement of the really, really big Trump Tax Plan with the “biggest tax cuts in history” came out bigly on Wednesday, as Trump promised. Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn, Trump’s latest tax team, beamed proudly as they presented their baby. The stock market took a deep breath, then  looked at their brainchild and completely petered out. First, let me say, I clearly have nothing to recant […]

· “The Middle East remains an extremely important region and we are committed to enhancing our customer experience,” says Robert Williams · British Airways’ recently announced investment plans to boost customer experience with the new First Wing now open to passengers flying from Kuwait · Airline set to launch 22 New Routes in 2017 expanding its network of onward connections for Kuwaiti and wider Middle […]

Donald Trump has decided not to pull the US out of the North American Free Trade Agreement, agreeing instead with his Canadian and Mexican counterparts to “proceed swiftly” with negotiations to update the agreement, according to the White House.  The move came in hastily arranged calls between the three leaders after news leaked that the White House was considering unveiling an executive order on Saturday that would have […]

. 240 modern gas stations across the country set for completion by 2020 · Strong support is required to encourage organized companies to step in to the service field. 26 April 2017 Riyadh – Petromin, the leading lubricants and automotive services company in Saudi Arabia, outlined plans to build 240 gas stations across the Kingdom at the 10th edition of the Saudi Travel and Tourism Investment […]

Netflix saw a flood of demand for a €1.3bn bond sale on Wednesday, as supply-starved junk debt investors put aside concerns around the US streaming service’s substantial cash burn to get a piece of its debut euro deal. The sub investment-grade rated company announced the deal on Monday as a €1bn 10-year bond to help fund its international expansion and planned shift to developing more original content. […]

By Valerie Volcovici | WASHINGTON WASHINGTON White House advisers and Trump administration officials will meet on Thursday to discuss whether the United States should remain in the Paris climate agreement, a White House official said on Wednesday. The meeting, which will include member of the National Economic Council and cabinet officials such as Environmental Protection Agency Administrator Scott Pruitt and Energy Secretary Rick Perry, was scheduled for […]

President Donald Trump’s top economic team unveiled what they called the biggest tax cut in US history, proposing a sharp reduction in corporate taxes and a simplification of individual rates they said would unleash economic growth. Steven Mnuchin, the Treasury secretary, said the proposal would slash corporate taxes from 35 per cent to 15 per cent and include a “one-time” cut-rate tax to induce companies to repatriate […]

Credit: CSEM / David Marchon A team of EPFL and CSEM researchers in Neuchâtel presents in Nature Energy a new astonishing method of creating crystalline solar cells with electrical contacts at the rear, suppressing all shadowing at the front. Thanks to the new inexpensive approach, the fabrication process is strongly simplified with efficiencies in the laboratory already surpassing 23 percent. In the quest for more efficient crystalline […]

ESPN on Wednesday went through with a long-awaited round of layoffs that will trim about 100 commentators from the sports network’s payroll as cord-cutters and digital media upstarts continue to disrupt the broadcaster’s business model. Among those laid off are on-camera personalities that have become familiar faces on the network’s coverage of hockey, football and baseball and writers for ESPN’s digital platforms. ESPN President John Skipper announced […]

Tax Foundation: Not what it seems? The other big player, the Tax Foundation, is a Washington, D.C.-based think tank that researches state and federal tax policies, and meets with lawmakers, citizens, and journalists to provide expert advice on tax policy. The group’s mission is to “improve lives through smarter tax policy,” according to the foundation’s website. Smarter tax policy, the foundation argues, includes making the tax code […]

No president likes being judged on his first hundred days in office, not least Donald Trump. It is, he tweeted last week, a “ridiculous standard” by which to be measured, even though he also claimed to have accomplished “a lot”. With his 100th day in the White House falling on Saturday, investors have more nuanced ideas. For much of 2017 financial markets have doubted the global “Trump […]

Modest dress is enjoying a renaissance. Fashion brands are increasingly embracing the long-held view shared by those in region that style does not have to equate to revealing a lot of flesh. Building on the foundations of sensuality over sexuality, and demure over décolletage, the West is finally catching up with the Middle East in terms of tasteful dressing. Women in the Middle East have long expressed […]

Twitter on Thursday rallied more than 11 per cent in pre-market activity, after it announced better than expected earnings and revenues, and significantly increased its active userbase on the platform. The social media company posted first quarter revenues of $548m, down 8 per cent year over year, marking the first fall in sales on record, but still exceeding estimates. It recorded a net loss of $62m, significantly […]

With little macro data overnight (aside from a modestly disappointing Australian CPI print), offset by an ongoing of corporate profits (this is the single busiest week for corporate earnings in more than 10 years), today everyone’s attention will be focused on three things to come out of Washington: taxes, healthcare, spending. And while we did our best to summarize what is known and unknown last night, this […]

Tencent’s cloud computing unit has launched a data centre in Silicon Valley and will open another four outside its domestic market, as it looks to expand its portfolio to include cloud and artificial intelligence. The Chinese internet giant said the following four facilities in Mumbai, Seoul, Frankfurt, and Moscow would be operational this year, adding to its global network of data centres that currently include Singapore, Toronto, […]

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