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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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Credit Suisse has launched a SFr4bn ($4bn) share issue and said it will abandon plans to list its Swiss division in an attempt to draw a line under capital fears that have dogged the bank since chief executive Tidjane Thiam took over two years ago.  Investors expected the bank’s quarterly earnings on Wednesday to feature only limited news on its much-anticipated capital plans since it is not […]

Oil traders banking on a sustained market recovery in 2017 are growing impatient. As the price of Brent crude falls towards $50 a barrel, Opec, energy analysts and some of the most powerful banks in the commodities sector are urging traders to maintain their composure. After a production cut deal between the cartel and rivals such as Russia was agreed late last year, prices began 2017 $10 […]

Deckers Outdoor Corp (DECK.N) said on Tuesday it was exploring strategic alternatives, including a sale of the company, a month after an activist investor urged the apparel and accessories maker to sell itself. Deckers, the owner of the UGG brand of boots and apparel, said it had retained Moelis & Co LLC as financial adviser. Shares of Goleta, California-based Deckers rose 6.5 percent to $62.53 in trading […]

Several months ago, when it was still conventional wisdom that Trump wanted to replace Janet Yellen – at least until Trump’s famous WSJ interview in which he flipped on this and various other issues – with a hawk once her turn runs out in 2018, the financial punditry was busy coming up with potential replacement names, a practice which gradually faded away once it emerged that Trump […]

Payment processing giant Vantiv announced that it is acquiring Paymetric, an electronic payments software firm focused on the B2B channel. Financial terms of the deal were not disclosed. Paymetric is used by enterprises to accept, process and integrate secure electronic payments within enterprise systems, including SAP, Oracle, Hybris and Salesforce. One of Paymetric’s hallmark features is its patented tokenization process, which secures customer payment data running through […]

25 April 2017 Dubai, UAE – Global Islamic Finance Report (GIFR) 2017, the oldest yearbook in Islamic banking and finance, was launched yesterday in Fairmont The Palm, Dubai by Mr Abdulla Mohammed Al Awar, CEO of Dubai Islamic Economy Development Centre. According to GIFR 2017, the estimated figure for the global Islamic financial industry in 2016 is US$2.293 trillion after recording a growth of 7%. This, however, […]

Warnings were that the first quarter of 2017 would be about as bad financially as the final two of 2016 for newspaper organizations. That proved to be the case today as Gannett kicked off the reporting season for publicly traded companies. Acquisitions led to some revenue growth. But comparing same properties: Print advertising revenues were down 17.7 percent compared to the first quarter of 2016. Circulation revenues […]

There is no love lost between French luxury house LVMH and its smaller rival Hermès despite the financial ties between them. In 2011, then-Hermès chief executive Patrick Thomas reacted with absolute fury when he learnt that LVMH had used derivatives to build up a stake in the company. In a notoriously crude statement, he said: “If you want to seduce a beautiful woman, you don’t start by […]

Authored by Zainab Calcuttawala via OilPrice.com, Alberta Premier Rachel Notley warned U.S. President Donald Trump that he would face the wrath of the northern nation’s many allies if the freshman president begins employing energy trade restrictions with Canada. Notley is currently in China, negotiating her country’s trade policies with the Asian giant. She told reporters that she did not know what was meant by Trump’s comments about […]

Located on Reem Island, Vida Beach Reem Island Abu Dhabi and Vida Residences Beach Reem Island Abu Dhabi will add to the portfolio of Emaar Hospitality Group’s upscale lifestyle hotel brand Scheduled to open in 2020, the iconic hotel and extended stay serviced residences overlook the Arabian Sea within a marina setting Vida Beach Reem Island Abu Dhabi will feature 262 guestrooms and suites, and […]

The Nasdaq Composite breached the 6,000 level for the first time on Tuesday and extended its double -digit gain for the year as investors focus on owning companies with strong growth prospects. The tech-heavy benchmark climbed as much as 0.7 per cent to 6,022 early in the day after closing at a record high in the previous session. Renewed appetite for technology stocks and a rally in […]

Dubai’s tourism sector sustained the momentum of its strong 2017 start, with the emirate reporting an 11 percent increase in overnight visitation in the first three months of the year. Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) said in a statement that the city saw 4.57 million travellers in Q1, more than double the growth achieved in the first quarter of 2016. Among Dubai’s top […]

Billionaire Bernard Arnault and his family are shunning big external acquisitions and opting to tighten their grip on LVMH, the world’s largest luxury group by revenues, where they’re already the largest shareholder. The Arnault family is simplifying the complex corporate structure between its family holding company Groupe Arnault, Christian Dior and LVMH — in a move that will see it sell out completely of rival Hermès. “We’re […]

After yesterday’s violent gap up in stocks across the globe in response to the “expected” outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up […]

Inspired by 3-D printing, researchers explored development of one mechanical property called effective static compressibility. As they now report, by using a single cartridge it’s possible to print a metamaterial which expands in size under hydrostatic pressure, even though it’s made up of material which behaves normally under hydrostatic pressure — that is, it shrinks. In principle, there is no limit to the negative value this material’s […]

It was kind of an accident. When Lisa Tobin arrived at The New York Times nearly seven months ago, she had a broad mission: Figure out what the newspaper was supposed to sound like. “I expected that we would come in and spend several months figuring that out and then starting to finalize strategy and figure out what our first-round programming would be,” said Tobin. That’s pretty […]

New insight into how forests globally will respond to long-term climate change has been gained by recent research. The new work suggests that climate-change driven increases in rainfall in warm, wet forests are likely to cause increased plant growth. Plant-growth declines are still expected in cooler forests with increased precipitation. (via WSJ)

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