Bloomberg suffered its second-ever drop in the number of ubiquitous terminals dotting global trading desks as it fell victim to cost cutting by the finance industry. The number of Bloomberg’s distinctive black terminals, used daily by bankers, traders and money managers, fell by 3,145 last year to just under 324,500, down nearly 1 per cent from 2015, according to a report on Tuesday from Burton-Taylor International, one […]
AMSTERDAM Elliott Advisors, the activist investor with a 3.25 percent stake in Akzo Nobel (AKZO.AS), said on Wednesday other shareholders owning almost a quarter of the Dutch paints and chemicals group want it to enter into talks with spurned U.S. suitor PPG Industries (PPG.N). Akzo has rejected a 24.4 billion-euro ($26.4 billion) takeover offer by PPG and declined to talk to the U.S. company to see if […]
After nine months’ gestation, the Brexit process has started. Both sides of the referendum have political points; Brexiters can say the UK economy is growing and there has been no market implosion, while Remainers can say UK assets have drastically underperformed the rest of the world, and the costs of the historic sterling devaluation are yet to be counted. Now, it is time to work out what […]
Chinese social media company Tencent has purchased a 5 percent stake in Tesla for $1.78 billion, providing a boost to the company as it prepares for the launch of the Model 3 mass-market electric vehicle. The shares of Tesla increased by 2.7 percent to $277.45 upon the announcement of Tencent’s investment, with the company now close to overthrowing Ford as the second most valuable automobile company in the […]
Spring offers ideal sightseeing weather, with destinations ranging from Japan and Rome to Cuba and Australia. David Whitley rounds up where to go this Spring. newslide April 2017 Japan The spring months are when Japan turns pink, with the famous cherry blossom trees bursting into life across the country. April is the peak of cherry blossom season and hits that sweet spot where temperatures are comfortable for […]
Wednesday 04:40 GMT Overview Asian markets were mixed, with energy stocks benefiting from a recovery in crude oil prices, while the UK pound dropped after Prime Minister Theresa May dispatched the letter that will trigger Britain’s exit from the EU. Hot topic The pound weakened 0.3 per cent to $1.2409 in Asia trade, bringing its losses over the past two sessions to 1.2 per cent, in response […]
SYDNEY Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about U.S. President Donald Trump’s failed healthcare bill and focused on an improving outlook for global growth. The cheerful mood did not extend to the pound which was on the skids as the British government sent a letter to Brussels formally starting the country’s exit from the European Union. […]
Your daily guide to community and cultural activities across the Emirates for March 29, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Family workshop Book […]
By Valerie Volcovici and Jeff Mason | WASHINGTON WASHINGTON President Donald Trump on Tuesday signed an order to undo Obama-era regulations to curb climate change, keeping a campaign promise to support the coal industry while calling into question U.S. support for an international deal to fight global warming. Flanked by coal miners, Trump enacted his “Energy Independence” executive order at the Environmental Protection Agency. A coalition of […]
After the biggest downturn in a generation, there are reasons to think the worst of the commodities slump might be over. The Financial Times’s Commodities Global Summit began on Tuesday in Lausanne, Switzerland. Here are the main talking points from the first day. There was no shortage of talk on Opec, which in November agreed its first reduction in supply in almost a decade. Executives from some of the world’s […]
The triggering this week of Article 50 of the Lisbon treaty to facilitate Britain’s exit from the EU is undoubtedly a momentous event. At issue in the forthcoming talks will be whether Britain can win back control over immigration and lawmaking without wrecking trade relations in its biggest market and damaging London’s status as the pre-eminent international financial centre. A minimum of two years of difficult and […]
Tencent Holdings has forked out US$1.78 billion for a 5 percent stake in Tesla, according to a document filed with the US Securities and Exchange Commission (SEC). The announcement came days after the US electric car maker said it was looking to raise funds to scale its business and bring to market its US$35,000-priced Model 3. The company said it expected to secure more than US$1 billion […]
Agricultural trading bosses gathered in Lausanne, Switzerland for the FT’s Commodities Global Summit have warned against closed borders and potential trade wars as rising protectionist rhetoric casts a shadow over their ability to access global markets. David MacLennan, Cargill chief executive, says raising tariffs will hurt the world economy, and Carl Casale, head of CHS, a leading US grain co-operative, highlights the damage it would wreak on […]
The Gulf emirate of Qatar is tiny, but it’s made a name for itself by placing big bets. Thanks to vast reserves of natural gas, its 2.6 million residents enjoy the world’s highest per-capita income: $129,700 a year. Qatar has acquired more than $335 billion worth of assets around the globe, buying up trophies such as London’s Shard, the tallest building in Europe. The emirate has also […]
Cuban president Raúl Castro is preparing to step down next year, Venezuela has cut millions of dollars in aid and Donald Trump’s election has cast a shadow over the nascent US-Cuba detente. Unnerved by the changes, Havana’s domestic reform drive has ground to a halt as the Communist party battens down the hatches. Marino Murillo, the senior official leading Cuba’s reforms, has not been heard in public […]
Dawn is the time to see Angkor Wat. Waiting in the dark as the exquisite 11th-century temple is conjured out of the Cambodian jungle feels ridiculously thrilling. As the sun rises above the tall, minutely carved, lotus-like towers, and the ornate magnificence of the buildings is reflected in the great ornamental lakes, you get a sense of how 19th-century French explorer Henri Mouhot must have felt when […]
“The new tax rate will bring Saudi Aramco in line with international benchmarks,” Saudi Aramco’s chief executive officer, Amin H. Nasser, said in a statement. Continue reading the main story The tax cut was announced a couple of months after intensive discussions with international bankers in Riyadh about how the offering should be structured. Bankers and independent specialists said the cut would help increase the cash flow […]
Tuesday 08:45 GMT What you need to know ● Markets recovering their poise after “Trump trade” wobble● S&P 500 futures higher and helping European to open on the front foot ● Energy stocks underpinning bourses as oil prices gain ground● Dollar steadies after sliding to four-month lows, Treasury yields nudge up● Gold prices ease back as haven flows dwindle——————- Hot topic Investors are rediscovering their risk appetite […]
The Australian Federal Court has handed down its decision in Telstra’s proceedings against the Australian Competition and Consumer Commission (ACCC)’s final access determination (FAD) on wholesale copper pricing, with the judgment reaffirming the regulator’s decision. The ACCC’s FAD, published in October last year, cut the prices that the telecommunications giant can charge wholesale customers for use of its legacy copper network during the transition to the NBN […]
HONG KONG Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters. Hong Kong-based investor group Integrated Whale Media Investments (IWM), which holds 95 percent of Forbes Media, is also in talks with another Chinese media firm and is scouting for more potential buyers for most […]
The bagpiper striding across the bottle label wears flowing green tartan, a luxuriant black moustache — and a red turban. Bagpiper whisky, distilled by Diageo through its United Spirits subsidiary in India, is one of India’s most popular brands, available even in a tetra pak. But at Rs300 ($4.50) for a 750ml bottle, it is not a brand that will power a rapid return on Diageo’s £1.9bn […]
By Noel Randewich and Rishika Sadam Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner’s IPO underwriters handed it badly needed “buy” ratings. Snap’s listing on March 1 was the largest by a technology firm in three years but trading has been volatile, with many investors critical of decelerating user growth. Snap has warned it may never become profitable. Analysts […]
Colombia-based airline Avianca filed a counter lawsuit in New York on Monday in the latest round of a no-holds-barred legal battle between two Latin American tycoons over the strategic control of one of the region’s biggest carriers and its mooted alliance with United Airlines. Avianca and Gérman Efromovich, the carrier’s biggest shareholder, accused Kingsland Holdings, its second-biggest shareholder, of leaking boardroom secrets in an attempt to obstruct […]
Vocus Communications has announced selling its 16 percent stake in Macquarie Telecom, offloading 3,358,511 MAQ shares at a price of AU$12.20 per share for a total of around AU$41 million. Vocus sold 100 percent of its interest in Macquarie Telecom to both institutional and retail shareholders via a block trade, it announced to the Australian Securities Exchange on Tuesday morning. According to Macquarie Telecom, the sale of […]
