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Elliott Management, the activist investment group, has called for the removal of Klaus Kleinfeld as chief executive of Arconic, the specialist metals and components company created last year by the break-up of Alcoa, arguing that “current management’s persistent failure . . . has destroyed considerable shareholder value”. The fund manager, Arconic’s largest shareholder with direct control of 10.5 per cent of the group’s shares, and a further 1.6 per cent through […]

Photo Refugees at the Ja’adah camp in Iraq. Children who are most in need of assistance come from Syria, Yemen, Iraq, Somalia and Sudan. Credit Sergey Ponomarev for The New York Times Children who are most in need of emergency international assistance come from five of the seven countries covered by President Trump’s order barring entry to the United States, according to a United Nations report. The […]

The three largest Omani banks – BankMuscat, Bank Dhofar and National Bank of Oman – face pressure on profitability from slowing economic growth and increased demand for Islamic finance, Moody’s warned on Tuesday. Growing appetite for Islamic finance is intensifying competition for products and placing the banks under pressure, a report from the rating agency argued. However, it added that BankMuscat, Oman’s largest bank by assets, was […]

Donald Trump may soon replace his old Android handset with a more secured one as rumored and he may have a new option with his own face handy. Caviar, a Russian company, is offering a gold-plated iPhone 7 with Trump’s and Vladimir Putin’s portrait embossed on it.  As reported by Tech Times earlier, some of the most secured handsets which could be considered by President Trump were the Blackphone […]

Apple returned to increasing revenue in the holiday quarter and said the growth rate could accelerate in the coming months, as iPhone sales rebounded strongly in North America, western Europe and Japan. However, despite forecasting revenues to grow as much as 6 per cent in the current quarter, its outlook fell just short of Wall Street’s estimates amid continuing sales declines in China and foreign currency headwinds. […]

Capital Group, one of the world’s biggest investment groups and a cornerstone backer of upstart stock exchange IEX, wants the incoming Trump administration to stymie high-frequency traders by overhauling one of the US equity market’s biggest but controversial regulatory planks. Matt Lyons, global head of trading at $1.4tn Capital Group, was a big supporter of the anti-HFT exchange made famous by Michael Lewis’s book Flash Boys, making […]

Written by Anees Jillani | Published:February 1, 2017 12:31 am Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head of the […]

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Apple has reportedly sold more iPhone 7 Plus models than the iPhone 7 during the 2016 December quarter. The company is expected to release its financial results for the fourth quarter soon and analysts estimate that the company has managed to sell 78 million iPhones in the December quarter. This is a 4 percent increase in sales, when compared to the same period in 2015.    The trend is an unusual […]

Nick Thompson was on his way to the subway when he got an email from his boss, New Yorker Editor David Remnick. The subject line? “Morning piece.” It was 8:17 a.m. on Sept. 8, and Remnick had just watched libertarian presidential candidate Gary Johnson ask “what is Aleppo?” live on national television. “I wrote back and said, ‘great!’” said Thompson, the former digital editor at The New […]

OSLO Oslo’s main trash incinerator has shown promising results in the world’s first experiment to capture greenhouse gases from the fumes of burning rubbish as a new way to slow climate change, officials said on Tuesday. If built at full scale, however, the technology would be a very costly way to limit carbon dioxide emissions as part of an international agreement to curb global warming reached by […]

ExxonMobil has become the second large oil company to report earnings well below analysts’ expectations, following Chevron on Friday. Exxon’s earnings per share were 41 cents for the fourth quarter of 2016, with net income of $1.68bn, 40 per cent lower than expected. The average of analysts’ forecasts was for earnings per share of 70 cents in the quarter. The lower than expected earnings came after a […]

The US stock market suffered its largest decline this year, alongside investors snapping up protection against a possible rise in volatility, pointing towards the nervousness over the recent rally. The S&P 500 dipped 0.6 per cent to 2,281, its biggest one-day fall since December 28. The Dow Jones Industrial Average was down 0.6 per cent to 19,971, while the Nasdaq Composite dropped 0.8 per cent to 5,614. […]

MANILA Philippine President Rodrigo Duterte on Tuesday said he had asked China to help in the fight against Islamic State-linked militants by sending ships to patrol southern waters plagued by raids on commercial vessels. Speaking to newly promoted army generals, Duterte said he had sought China’s help in dangerous waters in the south to check the activities of Abu Sayyaf, a Muslim rebel group sustained by piracy […]

The Trump administration just fired the first shot in the US-European currency, and thus trade, wars when Trump’s top trade advisor Peter Navarro accused Germany of using a “grossly undervalued” euro to “exploit the US and its EU partners“, the FT reported noting the comments are “likely to trigger alarm in Europe’s largest economy.” News of the statement sent the EURUSD spiking in the moments after its […]

Photo: Jack Schofield Microsoft was very prominent at last week’s 33rd annual BETT (British Education, Training and Technology) exhibition in London, as much for its hardware as for the ubiquitous Windows 10 operating system. Of course, for many visitors, robots and robotics will have left the most lasting impression, especially the ones who met Pepper. For the select few invited to private demos, however, Microsoft’s HoloLens trumped […]

GENEVA The United Nations has restarted air drops of food to support 93,500 Syrians besieged by Islamic State in the city of Deir al-Zor, the U.N. World Food Programme said on Tuesday. Air drops were halted on Jan. 15 after Islamic State militants cut the besieged zone in two and overran the drop zone that had been used for 177 air drops since April. WFP spokeswoman Bettina […]

MOSCOW McDonald’s (MCD.N) plans to open more than 50 restaurants in Russia this year and hopes to sign more franchising deals to expand in existing and new regions, the local unit’s chief executive said on Tuesday. The fast-food chain opened 73 restaurants in Russia last year, exceeding its forecast. Of the newly-opened restaurants, 65 are company-owned, Khamzat Khasbulatov, head of McDonald’s Russia, told a news conference. Khasbulatov […]

Royal Dutch Shell has struck deals worth up to $4.7bn to sell offshore oil and gas assets in the North Sea and Thailand, adding momentum to the debt-reduction programme launched after its $50bn takeover of BG Group. The Anglo-Dutch group said on Tuesday it had agreed to sell a package of UK North Sea assets to Chrysaor, a small British company backed by EIG Partners, a US […]

The great Trump reflation story, which points to strong equities, weak bonds and a highly valued dollar, is by now thoroughly entrenched in the minds of global investors. Not without reason. But when conviction is near-universal in markets it makes sense to ponder what investors might be missing. For my money the most likely flaw in this narrative relates to the cost of protectionist policies. There is […]

TOKYO Japan must make public places in Tokyo smoke-free by the time it hosts the 2020 Summer Olympics or risk falling afoul of International Olympic Committee (IOC) rules that call for a healthy games, activists said on Tuesday. Japan’s health minister has said the government is eager to stamp out smoking in public by the time the capital hosts the Olympics. But smoking remains so entrenched there […]

Twitter has a security problem — and businesses are paying the price for it. The official Twitter account of Indian airline IndiGo has been hit with a breach. The verified account, which previously had over 100,000 followers and several hundred thousands of tweets, now appears to be in possession of a user who goes by the handle @activevibezzz1.  Image: screengrab/twitter Earlier Tuesday morning, IndiGo’s Twitter handle was […]

The publication of Michael Lewis’s book Flash Boys in 2014 thrust the arcane world of ultra-high frequency trading firms into the popular consciousness, prompting debate over everything from the industry’s morality to the possible risks it posed to financial stability. What was undeniable was how several of these companies were staggeringly profitable, generating hundreds of millions of dollars by trading at speeds made up of fractions of […]

Investors, economists and strategists have begun to question their enthusiasm for Donald Trump’s new administration, following the president’s decision to block entry to the US from seven Muslim-majority countries. Mr Trump’s travel clampdown appeared to knock some of the confidence from markets, after stock indices reached record highs last week following speculation the new president will deliver faster economic growth and accelerating price rises — dubbed “Trumpflation”. […]

From the top left corner, moving clockwise, the four images depict: University at Buffalo students performing an experiment, clean drinking water, water evaporating, and black carbon wrapped around plastic in water with evaporated vapor on top evaporated water. Credit: University at Buffalo. You’ve seen Bear Grylls turn foul water into drinking water with little more than sunlight and plastic. Now, academics have added a third element—carbon-dipped paper—that […]

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