Key points ● Treasury yields have fallen, with the 10-year yield lower by 9 basis points to 2.50 per cent● Market expectations for at least four Federal Reserve rate increases this year dipped to less than one-in-five● Wall Street has extended gains, S&P 500 gaining as much as 0.9 per cent to 2,387.23● US dollar falls across the board, with the dollar index down 1 per cent […]
A Saudi soldier was killed by gunmen late on Tuesday in the Eastern city of Qatif, in an incident the interior ministry said was carried out by “terrorist elements”. The security patrol came under fire upon approaching a suspicious vehicle, the statement carried by state news agency SPA, adding that the gunmen fled the area. Eastern Province is home to much of Saudi Arabia’s oil production as […]
By Dustin Volz | WASHINGTON WASHINGTON The U.S. government on Wednesday unsealed charges against two Russian spies and two criminal hackers for allegedly pilfering 500 million Yahoo user accounts in 2014, The indictments, announced at a news conference in Washington, represent the first time the U.S. government has criminally charged Russian officials for cyber offenses. The content of at least 30 million accounts were accessed as part […]
With the oil market showing signs of losing faith in a price rebound, Opec is now asking itself: what more can it do? Production cuts agreed late last year between some of the world’s biggest producers inside and outside the cartel, are losing their sway given the near 10 per cent drop in the Brent benchmark over the past week. Brimming global storage tanks and a resurgent […]
According to Google, background tabs are responsible for up to a third of Chrome’s power use on a desktop. Image: Google Google has begun to throttle some background tabs in Chrome as part of a plan to reduce its browser’s impact on power consumption. Chrome 57 introduces the first phase of its plan, which ultimately aims to kill background tab processing and reduce the browser’s impact on […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Nate Silver’s “March Madness” analysis is out and, knock on hardwood, he’s not picking Hillary Clinton. I know, I know. Cheap (jump) shot. It’s that time of year when FiveThirtyEight, the ESPN-owned politics and sports data site founded by Silver, […]
Eon, the German utility, recorded a net loss of €16bn for 2016 — the largest in his history — and unveiled ambitious measures to reduce debt by €7bn through asset sales and cutting 1,300 jobs. The loss reflected impairments on Uniper, the new fossil fuel power company spun out of Eon last year, as well as payments Eon is having to make into a new state fund to cover the […]
It is fitting that just a few hours until the Fed’s second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the […]
Released on March 3, the Nintendo Switch console has now reportedly managed to push 1.5 million units, which is an impressive figure for its first week, especially considering that Nintendo’s overall sales projection for March is just 2 million. The Nintendo Switch seems set to pass that mark altogether, possibly even sooner than expected. Nintendo Switch Sales Breakdown According to reports, 500,000 Switch units were sold in […]
Mahmoud Said was born into high society. His family were rich landowners from Alexandria in Egypt and his father, Mohammed Said Pasha, served as Egyptian prime minister from 1910 to 1914, and again briefly in 1919. His sister’s daughter, Safinaz Zulficar, became Queen Farida of Egypt, and her reign lasted almost 11 years. Even then, in the early 20th century, as Said simultaneously worked as a top […]
Shares in Cathay Pacific fell as much as 6.9 per cent on Wednesday after the Hong Kong flag carrier swung to its first annual loss since 2008. The airline reported a net loss of HK$575m ($74m) for 2016 in the face of increased competition from mainland Chinese airlines and falling demand for its premium class seats. The net loss compares with a HK$6bn profit reported in 2015, […]
By Andrew Osborn | MOSCOW MOSCOW First, armed police seized some of its books. Next, its director was put on trial accused of stirring up ethnic hatred. And now, quietly, its shelves have been emptied and its volumes packed up, ready to be merged into another library’s collection. A year and a half after Russia’s only state-run Ukrainian language library, Moscow’s Library of Ukrainian Literature, was dragged […]
TOKYO Shares in Toshiba Corp tumbled on Wednesday after it said it would consider a sale of Westinghouse but did not offer any clarity on whether it would proceed with a Chapter 11 filing for the U.S. nuclear unit – a move that could stem losses. Toshiba’s failure to submit audited third-quarter earnings on Tuesday and its announcement of an expanded probe into Westinghouse also contributed to […]
NEW YORK — Millions of records from a commercial corporate database have been leaked. The database, about 52 gigabytes in size, contains just under 33.7 million unique email addresses and other contact information from employees of thousands of companies, representing a large portion of the US corporate population. Dun & Bradstreet, a business services giant, confirmed that it owns the database, which it acquired as part of […]
The president was expected to urge Saudi Arabia to support safe zones in Syria, which the administration has argued would be an alternative to accepting thousands of refugees from a country that has been ripped apart by six years of civil war. Continue reading the main story Mr. Trump and members of his inner circle regard Saudi Arabia as a vital component of the White House strategy […]
Wednesday 02:40 GMT Overview A rally in crude oil prices that erased the losses of the previous session failed to bolster energy stocks in Asia, as bond and currency traders also shunned major moves ahead of the US Federal Reserve’s interest rates decision later in the day. Hot topic Crude was climbing in Asia after a slide on Tuesday. Brent, the international benchmark, was up 1.3 per […]
Oil prices have fallen almost 10 per cent in the past week to their lowest level since Opec agreed to cut output in November. Here are five factors contributing to the renewed bout of selling that could dictate whether Brent crude can hold above $50 a barrel. 1. Shale The US shale industry has come back with a bang, with oil prices back above $50 a barrel. […]
(Corrects name of gallery in paragraph 3 to Ayyam) By Tarek Fahmy. DUBAI Palestinian painter Samia Halaby has blunt advice for aspiring Arab artists – get your inspiration first-hand, whether from ordinary people or historical documents, avoiding the “lies” of the media. Halaby, who made her name with abstract paintings, drew on both kinds of source for her most overtly political project, a series of drawings of the 1956 […]
As consumers gear up for the arrival of the Galaxy S8, an analyst has dampened expectations by forecasting that the sales of the new Samsung flagship will be lower than that of the predecessor Galaxy S7. The analyst in question is KGI Securities’ Ming-Chi Kuo who has a fantastic track record when it comes to predictions, especially for Apple products. In a note to investors, the analyst […]
DUBAI // The UAE has more open communication with its citizens than people abroad realise, acording to a senior adviser at the Emirates Diplomatic Academy. Tom Fletcher, former British ambassador to Lebanon, said there was a perception in the West that the region was a more “closed world”. “But when most people come here, they can see it’s not the case and they can see this effort […]
By Jonathan Allen and Scott Malone | NEW YORK/BOSTON NEW YORK/BOSTON A blizzard swept through the heavily populated northeastern United States on Tuesday, grounding thousands of flights, cancelling classes and pummelling those who ventured out onto snow-bound streets. Some 50 million people from Pennsylvania to Maine faced a “rapidly intensifying nor’easter” over the course of the day that was unusual for striking so late in the winter, […]
By Anthony Boadle | BRASILIA BRASILIA Former President Luiz Inacio Lula da Silva on Tuesday called charges “false” that he tried to block an ongoing investigation of the biggest graft scandal in Brazil’s history, which helped end the 13-year rule of his leftist Workers Party. Addressing a packed court, a defiant Lula appeared for the first time in one of five corruption trials in which he is […]
LONDON/PARIS An activist hedge fund has said it objects to plans by Walt Disney (DIS.N) to take full control of debt-laden Paris theme park operator Euro Disney (EDLP.PA), according to a letter seen by Reuters. Paris-based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to object to what it believes are plans by Walt Disney to force […]
Identity management company Okta has officially filed for an initial public offering, seeking to raise $100 million. The tech IPO scene has been rather sluggish in the past several years, but things are expected to pick up in 2017 and the recent Snap IPO breathed some much-needed new life into the space. Many believe that the Snap IPO opened the door to more tech IPOs and they might just […]
