By Dan Burns and Jennifer Ablan | NEW YORK NEW YORK With President-elect Donald Trump promising to spend as much as half a trillion dollars on infrastructure and slash taxes – initiatives that could add dramatically to the U.S. debt and balloon the budget deficit – Wall Street is far more focused on who will next head the U.S. Treasury than it was in the previous selection […]
Heba bin Redha has an advantage over many other Dubai tour guides – generations of family knowledge of the city and its history . She doesn’t have to rely on dusty books or second-hand accounts for research before taking groups on walking tours of the narrow alleys of Old Dubai. Instead, the 27-year old Emirati – who recently launched her business, Kashta With Heba (Journey With Heba) […]
Greencore, Britain’s biggest sandwich maker, has been planning to “deepen its leadership of food-to-go”. As Lucy Kellaway has pointed out, sandwiches don’t need leadership (they need fillings) but this week Greencore deepened its leadership by paying $747m for Peacock, a US sarnie supplier. The deal went down like a fresh BLT and the shares rose at the sight of food-to-go leadership in action. Despite the grisly record […]
Adam Ondra, a 23-year-old from the Czech Republic considered by some to be the world’s best climber, thought he might cruise up the Dawn Wall of El Capitan. Following the free-climbing route that Tommy Caldwell and Kevin Jorgeson blazed over 19 days nearly two years ago, having received advice and support from both men, Ondra hoped to complete the nearly 3,000-foot ascent in five or six days. […]
By Lewis Krauskopf | NEW YORK NEW YORK Arguing over politics is a Thanksgiving Day tradition, but Donald Trump’s presidential election adds a new twist to any bickering at next week’s holiday dinner table: What the new U.S. government could mean for your stock portfolio. Trump’s shock victory last Tuesday sent investors scrambling to change bets predicated on a win by Hillary Clinton, leading to huge stock […]
ABU DHABI // Sweet, woody smoke rose from burning frankincense at Yas Mall’s Town Square on Friday as hundreds of Emiratis joined Omanis in celebrating Oman’s 46th national day. Traditional Omani dancers marched into the square beating drums and chanting songs of joy as they commemorated the traditions and bonds shared between the two neighbouring countries. Omani orators paid tribute to the leadership of Sultan Qaboos, who […]
BEIRUT: Doctors and nurses at a pediatric hospital in eastern Aleppo scrambled Friday to evacuate babies in incubators from underground shelters to safety after the facility in the besieged Syrian city was bombed for the second time this week. Medics and aid workers also reported a suspected attack involving toxic gas in a district on the western edge of the province. At least 12 people, including children, […]
Saudi Arabia’s energy minister thinks OPEC will reach a deal to cut oil output and said a production ceiling of 32.5 million barrels a day would speed the balancing of supply and demand. The group is near a consensus on capping production for at least six months, said his Algerian counterpart. “I am still optimistic that the agreement reached in Algiers to put a ceiling to production […]
Donald Trump has begun putting together his transition team and naming the cabinet members who will come to power in Washington after the inauguration on January 20. Follow the FT’s guide to the main players he has already picked — and the positions yet to be filled — here. Trump’s choices: MIKE PENCE Vice-president © AFP Mike Pence, the Indiana governor and former congressman, was picked as Donald […]
Neel Kashkari picked a bad day to try to fix the financial system. As the president of the Federal Reserve Bank of Minneapolis unveiled a plan to safeguard the biggest banks on Wednesday morning, shares in the likes of JPMorgan Chase, Bank of America and Citigroup were coming off five days of frantic gains. Analysts, meanwhile, were still pumping out research notes, trying to guess what a […]
Social media giant Facebook Inc (FB.O) on Friday set a $6 billion buyback program for its Class A shares, beginning in the first quarter of 2017. Facebook’s shares were up 1.1 percent at $118.24 in after-hours trading. The company had a market value of about $337 billion at close. The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17. (bit.ly/2fcxJoA) (bit.ly/2fE2wvw) Athwal has […]
Already, many Israelis and Palestinians are buzzing about the prospect. Where would the embassy go? Would it straddle the line between West Jerusalem, which is predominantly Jewish, and East Jerusalem, which is predominantly Arab? Would it touch off street protests in Palestinian cities or a backlash among Arab allies like Egypt and Saudi Arabia? Continue reading the main story “Jerusalem is a symbolic, emotional and real issue,” […]
Photo The view from Elias Muhanna’s grandparents’ balcony, in Roumieh, Lebanon, in 2010. Credit The Muhanna Family When I was a child, I spent most summers at my grandparents’ home in the Lebanese mountain village of Roumieh, overlooking Beirut and the Mediterranean coast. From the swing on the veranda, an expanse of umbrella pines and terracotta-roofed villages tumbled steeply toward the sea. In the evenings, my grandfather […]
You can read our charts-based explainer here. Sometimes the end of an era comes imperceptibly, with it only becoming apparent long after the fact. But many investors are in little doubt that Donald Trump’s election victory loudly trumpets that an entirely new market regime is nigh. The subsequent shockwaves — which sent equities powering higher on stimulus hopes, bonds crashing on inflation fears and emerging markets quaking […]
U.S. stocks looked set to open little changed on Friday, with all three major indexes near record highs, a day after Federal Reserve Chair Janet Yellen sent a strong signal that interest rates would be increased next month. The Fed could raise rates “relatively soon”, Yellen said in a congressional testimony on Thursday, adding that she would serve out her term. Traders are pricing in an 83 […]
Every autumn, Hong Kong restaurants serve a seasonal delicacy: hairy crabs, shipped the same day from lakes around the Chinese city of Suzhou. But the territory’s food safety inspectors recently made a shocking discovery: some crabs in this year’s consignment contained dangerous levels of cancer-causing chemicals. Even worse, the crabs appeared to come from Lake Tai, a model in China’s fight against pollution after a multiyear, multibillion-dollar […]
By David Shepardson | WASHINGTON WASHINGTON U.S. President-elect Donald Trump said Ford Motor Co Executive Chairman Bill Ford Jr told him the automaker would not move a Kentucky plant to Mexico, but the firm said it informed him the decision was to keep one vehicle in U.S. production. On Thursday, Trump posted on Twitter: “I worked hard with Bill Ford to keep the Lincoln plant in Kentucky. […]
When Iran conducted a mass hanging in August of Sunni prisoners accused of attacks in its restive western Kurdish region, the executions were widely criticized as an egregious human rights violation. But death-penalty opponents also were appalled at what came next. Videos that showed apparently coerced confessions of the prisoners — interwoven with ominous-sounding music and clips of unrelated assaults by militants of the Islamic State — […]
You know Tony Robbins. He’s the world’s most famous performance and motivational coach. He’s advised everyone from Bill Clinton to Serena Williams, from Leonardo DiCaprio to Oprah Winfrey (who calls him “superhuman”). He was called in to advise Bill Clinton during his impeachment and counts billionaires such as Virgin’s Richard Branson and casino magnate Steve Wynn among friends. He first broke onto the self-improvement scene 30 years […]
Apple has acknowledged a recurring defect in its two-year-old iPhone 6 Plus, offering customers a cut-price touchscreen repair after months of mounting complaints. The supersized smartphone, launched in September 2014, has a tendency to develop what has been dubbed “touch disease” when dropped or pressured, rendering its touchscreen unresponsive or causing a flickering black line at the top of the display. The term was coined by iFixit, […]
BAGHDAD: Daesh militants probably killed more than 300 Iraqi former police three weeks ago and buried them in a mass grave near the town of Hammam Al-Alil south of Mosul, Human Rights Watch said on Thursday.A Reuters reporter visited the site of the mass grave, where residents said the ultra-hard-line militants buried victims who had been shot or beheaded. The residents said they believed up to 200 […]
By Alexandria Sage and Nichola Groom | LOS ANGELES LOS ANGELES Tesla Motors Inc Chief Executive Elon Musk won approval on Thursday from the electric luxury automaker’s shareholders for an acquisition of SolarCity Corp, the solar energy system installer in which he is the largest shareholder. The stock swap deal, worth about $2 billion, caps a tumultuous year for Musk and Tesla. The proposed acquisition of SolarCity, […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December. Prospects for a rate hike next month also got a boost from other data on Thursday showing first-time applications for unemployment benefits tumbling […]
Photo An Israeli settlement surrounded by a defensive wall near the West Bank city of Ramallah. Credit Thomas Coex/Agence France-Presse — Getty Images Right-wing Israeli politicians see Donald Trump’s election as helpful toward their goal of burying the prospect of a Palestinian state. On Wednesday, Israeli lawmakers gave preliminary approval to a bill that would retroactively legalize settlements built on private Palestinian land in the West Bank. […]
