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Bjarni Benediktsson, leader of the conservative Independence Party, is Iceland’s new prime minister. (Halldor Kolbeins/Agence France-Presse) The Panama Papers — a huge leak of documents detailing the alleged secret offshore holdings of a global elite — were released in April 2016. The leak made headlines all over the world, but its impact was probably most keenly felt in Iceland. Just two days after the leak appeared, Icelandic Prime Minister Sigmundur David Gunnlaugsson […]

PARIS Far-right French presidential candidate Marine Le Pen said on Tuesday she would seek to repatriate production of French motor vehicles and other industrial goods – just as President-elect Donald Trump hopes to do in the United States. Trump has threatened to slap tariffs on cars made abroad, saying the practice costs American jobs. He has praised Ford Motor Co’s decision last week to scrap a plan […]

Upon the closing of the $4.8 billion sale of Yahoo to Verizon, Yahoo will see itself renamed to Altaba Inc as it begins its new direction as an investment company. Complementing the name change will be a new board of directors, with only five individuals claiming a position at the table. Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney, and Jeffrey Smith will continue to serve as […]

Jared Kushner has been named senior adviser to Donald Trump, formalising the role of the president-elect’s son-in-law as one of the most powerful people in the incoming White House. The 35-year-old property developer, who is married to Mr Trump’s eldest daughter Ivanka, will be taking the role without salary. Ms Trump will not be taking an immediate role in the administration. Transition officials said Mr Kushner would […]

Most Popular 1 Donald Trump Is Not Too Big to Fail 2 Courageous House Progressives Raise ‘Justice and Fairness’ Objections to Certifying Trump 3 Sherrod Brown Is the First Senator to Say ‘No’ to Jeff Sessions 4 This Monday, Join Protests Across the Country to Block Trump’s Climate-Denying Cabinet Picks 5 Why Workers Everywhere Should Be Scared by Kentucky’s Assault on Unions A Fascist Original Having said […]

The world’s main repository for data on credit derivatives deals will move its database on to the blockchain, in the first big test case for whether the emerging technology can be employed across the finance industry. The DTCC, a US post-trade services group that processes more than $1,500tn of securities a year, will use technology from IBM and US blockchain start-ups R3 and Axoni as the basis […]

Each quarter Credit Suisse’s U.S. Equity Strategy team, led by Lori Calvasina, takes a deep dive into the stock level holdings of long-only, actively managed small, SMID, mid & large cap funds to see which stocks officially qualify as the most crowded trades on wall street.  While the results obviously vary across the size categories, Tech, Healthcare and Financials seemed to be recurring themes for the most […]

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China strengthened the renminbi’s trading range on Friday by the most since it depegged it in 2005, as investors awaited data expected to show Beijing is continuing to burn through its reserves to support the currency. The renminbi’s sudden strength has caught global markets off-guard and wrongfooted investors betting the Chinese currency would start the year by continuing its gradual slide as outflow pressures persisted in spite […]

Qatar Airways is to swap its order for up to 80 Airbus A320neos for the larger, longer-range A321 version, the airline’s chief executive said on Thursday. The Doha-based carrier has refused to take delivery of A320neos since December 2015 over performance issues with the aircraft’s engines. “We are going to take all A321s, there will be no more A320s,” Chief Executive Akbar al-Baker told reporters in Doha. […]

By Alexandria Sage and Paul Lienert | LAS VEGAS LAS VEGAS Electric vehicle start-up Faraday Future showed off in Las Vegas on Tuesday a prototype of a vehicle set for production next year as the China-backed company strives to win credibility in the crowded sector and weather its funding challenges. The “FF 91”, described by its designer Richard Kim as “weird-pretty”, is a luxury electric SUV Faraday […]

While 2016 was the year the unlikely became real, currency investors enter 2017 no better equipped to tell the difference between reality and illusion. Brexit and Trump made a mockery of assumptions, shredded investors’ best-laid plans and turned political risk analysts into the most in-demand advisers of the year. The two big themes of 2016 will feel palpable during the first quarter of 2017. Donald Trump takes […]

Venezuela has issued $5bn in new bonds to state-run Banco de Venezuela in a private placement, as it seeks cash for imports of food and medicine as the country struggles with critical shortages of basic goods. France-based Global Emerging Markets Group said it advised on structuring and executing the deal. The operation was underwritten by China’s Haitong Securities, according to two bond traders who had seen preliminary […]

Chinese companies invested a record $45.6bn in the US in 2016 despite a US presidential campaign heavy on China bashing, but Donald Trump’s imminent arrival in Washington is among factors making the feat unlikely to be matched this year, according to a new report. The surge in Chinese foreign direct investment into the US documented by Rhodium Group, a research firm, led the annual flow of corporate […]

Authored by Mark St.Cyr, With 2016 now in the rearview mirror. The one thing that was supposed to be included in that vision was the successful resurgence of IPO’s across “The Valley”. 2016 was supposed to be “the year” of the comeback for unicorn cash-out dreams after what can only be described as a “not as advertised” 2015. For if one needs remembering: 2015 was the worst year […]

  Last Updated On 01 January,2017 12:58 am As we are saying pip pip to the year 2016, let’s scroll through the most significant happenings of soon-to-be previous year. While doing so, we will get to know that some of the events and happenings can truly be termed as defining moments in history. One of such phenomenon was Panama Leaks that for a moment not only shook the […]

M&A: back with a bang Deal activity was vigorous with much of it concentrated just below the level of the industry’s biggest companies. Nasdaq bought International Securities Exchange for $1.1bn, while CBOE Holdings announced a $3.2bn deal for Bats Global Markets in September. Of most significance, the pending €24bn tie-up between London’s LSE Group and Deutsche Börse, which will create Europe’s largest exchange. As the chart above […]

By Isabel Coles and Stephen Kalin | NEAR MOSUL, Iraq NEAR MOSUL, Iraq Iraqi security forces on Thursday began the second phase of their offensive against Islamic State militants in Mosul, pushing from three directions into eastern districts where the battle has been deadlocked for nearly a month. Since the offensive to capture Mosul began 10 weeks ago, counter-terrorism forces have retaken a quarter of the city, […]

Principal Investment Arm of the Government of Dubai Grows its Portfolio to AED 736.8 Billion Dubai 28 December 2016  Investment Corporation of Dubai (ICD) announced its consolidated financial results for the six-month period ended 30 June 2016 showing Revenues of AED 82.5 Billion and a Net Profit of AED 10.3 Billion. These results are achieved against a backdrop of lower oil and commodity prices, a strong US […]

By Thomas Wilson and Saeed Azhar | TOKYO/SINGAPORE TOKYO/SINGAPORE Japan Inc may become a more important force in dealmaking next year as its cashed-up companies seek to buy growth prospects elsewhere in the world and as Beijing’s crackdown on capital outflows prevents some Chinese companies from making foreign acquisitions, bankers and lawyers said. Facing tepid prospects at home after decades of stagnation amid a shrinking population, Japanese […]

By Diane Bartz | WASHINGTON WASHINGTON Healthcare company Abbott Laboratories (ABT.N) has won U.S. antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical Inc (STJ.N), the U.S. Federal Trade Commission said on Tuesday. Abbott agreed to divest two medical devices used in cardiovascular procedures to resolve FTC concerns the acquisition would stifle competition, the commission said in a statement. The company […]

By Stephen Kalin | EAST OF MOSUL, Iraq EAST OF MOSUL, Iraq Iraqi forces will resume their push against Islamic State inside Mosul in the coming days, a U.S. battlefield commander said, in a new phase of the two-month-old operation that will see American troops deployed closer to the front line in the city. The battle for Mosul, involving 100,000 Iraqi troops, members of the Kurdish security […]

In January of 2016, the Bundesbank announced that three years after commencing the transfer of some of its offshore-held gold from vaults located at the Banque de France in Paris and the NY Fed in New York, it had repatriated a total of 366.3 tonnes, bringing the German central bank’s gold reserves held in Frankfurt to 1,402 tonnes, or 41.5% of Germany’s total gold of 3,381 tonnes, […]

By Lawrence Delevingne | NEW YORK NEW YORK When six executives of Platinum Partners, including founder Mark Nordlicht, were arrested on Monday on federal charges of running a more than $1 billion hedge fund fraud, people who had long alleged they were harmed by the New York-based firm felt some vindication. But the possibility that each defendant might face prison terms has done little to soothe their […]

A round up of some of 2016’s most significant corporate events and news stories. Smartphone sales © EPA A bright start to the year for Samsung Electronicswent up in smoke, after it took the unprecedented decision to axe its Galaxy Note 7 line, following a spate of safety issues that saw the smartphone banned from aircraft, writes Nic Fildes. The 2016 Galaxy Note iteration won substantial praise […]

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