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By Timothy Gardner | WASHINGTON WASHINGTON Eight Democratic senators asked U.S. regulators on Tuesday to launch an investigation into billionaire Carl Icahn’s activities in the U.S. biofuels blending credit market, saying the activist investor may have violated trading laws since becoming an adviser to President Donald Trump. “We are writing to request that your agencies investigate whether Carl Icahn violated insider trading laws, anti-market manipulation laws, or […]

Expired EpiPens may still be usable more than four years after their expiry date. Findings of a new study that looked at the potency of auto-injectors after their expiry date suggest it may be worth using one that is past the expiration if it is all you have got. The new study shows that long after their supposed expiration dates, the injectors still have the concentration of epinephrine […]

A group of US senators has urged a government investigation into billionaire Carl Icahn’s involvement in an obscure market for US biofuel credits, arguing he profited by influencing prices through his role as informal counsel to President Donald Trump. Mr Icahn controls CVR Energy, an oil refiner which trades credits used to meet a federal mandate for mixing ethanol and biodiesel with petroleum products. In December, the […]

The world’s biggest oil producers Russia and Saudi Arabia on Monday eyed up extending an output reduction deal ahead of an OPEC meeting later this month. “Russia is in solidarity with the efforts of our partners to rebalance the market and considers that the joint initiative to stabilise the world oil market is currently effective,” energy minister Alexander Novak said, Russian news agencies reported. “We are discussing […]

US stocks hit fresh intraday highs on Wednesday, with Apple’s market value breaking through $800bn for the first time, as an earnings trade replaces the so-called Trump trade. The best US earnings season in five years has powered Wall Street to new heights even as the pro-business tax, regulation and infrastructure policies of Donald Trump are taking longer to translate into action than investors had hoped. The […]

Back to normal, for now… South African stocks hit an 11-month high on Tuesday, as markets calm a month after the surprise ousting of the country’s finance minister, but analysts warned that political worries could rear their heads again soon. The FTSE/JSE All-Share index climbed 1 per cent today, hitting a high of 54,255, its highest level since June 2016. Bank stocks, which were particularly badly hit […]

Members of President Donald Trump’s cabinet have a new catchphrase for how they see the future role of the US: not just “energy-independent”, but “energy-dominant”. As Ryan Zinke, the interior secretary, put it at an industry conference in Houston last week: “Dominance is what America needs.” It would be tempting to dismiss that talk as hype, except that every week the US energy sector is coming up […]

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Tuesday 02:50 BST Overview Stocks around Asia were mostly lower following a flat lead from Wall Street and as momentum after the French presidential election faded. Hot topic Emmanuel Macron, the independent centrist, was elected France’s president in the country’s election at the weekend, beating far-right candidate Marine Le Pen. Although Mr Macron’s victory was a cause for relief in markets and is seen as a broad […]

By Henning Gloystein | SINGAPORE SINGAPORE Oil prices edged up on Tuesday, driven by anticipation that an OPEC-led pledge to cut production would be extended beyond the first half of the year and into 2018, although overall high supply still weighed on markets. Brent crude futures, the international benchmark for oil prices, were at $49.60 per barrel at 0045 GMT on Tuesday, up 26 cents, or 0.5 […]

While the hedge fund world finds itself in a time of crisis, with a “great rotation” of capital away from active management which continues to largely underperform the broader market, and toward cheaper, passive strategies, nothing could spoil the mood at one of the industry’s biggest events held today at the Lincoln Center, the 22nd annual Ira Sohn conference, where a dozen of the hedge fund industry’s […]

Monday 16:30 BST What you need to know • The euro is losing momentum after touching a six-month high, down 0.6 per cent at $1.0925 • New York equity markets are muted; European equities markets are falling back, led by banks after early momentum from the French election continues to fade • Oil prices have also been volatile with both Brent and WTI seesawing either side of […]

OnePlus has carved out a name for delivering excellent phones, like its recent 3T, at mid-range prices since its 2013 launch. Image: OnePlus Smartphone maker OnePlus says it will launch its next flagship, the OnePlus 5, this summer. The OnePlus 5 will succeed last year’s popular OnePlus 3 and the recently launched OnePlus 3T, which offered fans high-end specs well below the cost of flagships from Apple, […]

By Nigel Stephenson | LONDON LONDON European stocks and the euro pulled back on Monday from highs touched after Emmanuel Macron’s emphatic but well-flagged victory in France’s presidential election as investors’ focus shifted from politics to monetary policy. With the political risks that have dominated European markets in a year packed with elections seen receding, the European Central Bank is expected to have more room to tighten […]

In a week that started with big oil and US shale producers trumpeting their ability to thrive in a world of $50 a barrel crude, the market had a very quick response: let’s see if you can do it at $45. A brutal sell-off across commodity markets this week has quickly taken the shine off strong first-quarter results that would otherwise have been viewed as a triumph […]

Monday UN focus on migrants The UN will meet in Geneva to address the “human rights of all migrants, social inclusion, cohesion and all forms of discrimination, including racism, xenophobia and intolerance”. Organisers say they are working towards an ambitious global policy on migration, an issue high on the political agenda after the Mediterranean migrants’ crisis and US President Donald Trump’s clampdown on migration into the US […]

Aldar Properties on Saturday announced that all homes in the third tower of its The Bridges affordable project has sold out. Following the strong demand for the first two towers of The Bridges at Cityscape Abu Dhabi, Aldar said the apartments in tower 3 were sold in just four hours, taking the total value of sales across all three towers to AED600 million ($163 million). Unit prices […]

By Andreina Aponte and Andrew Cawthorne | CARACAS CARACAS Dressed in white and chanting “Liberty!”, tens of thousands of women opposed to Venezuela’s socialist President Nicolas Maduro marched on Saturday, proffering roses to security forces who blocked their way. The women’s marches, which took place in most major cities around the South American oil producer, were the latest in five weeks of sustained protests against Maduro whom […]

By Joseph Sipalan and Praveen Menon | KUALA LUMPUR KUALA LUMPUR Malaysia’s 1.6 million public servants have long been one of the most reliable vote banks for Prime Minister Najib Razak’s ruling coalition, but as he prepares to seek re-election he faces warnings that soaring living costs risk eroding that support. Prices have risen sharply since Malaysia cut state subsidies and launched a national goods and services […]

A corner of Wall Street has been gripped by the unknown identity of a trader that has been buying up Vix call options priced at 50 cents each, swelling to account for nearly 10 per cent of the listed market. The FT has now reported that bankers with knowledge of the trades say the so-called “50 Cent” – a reference to the American rapper known for his […]

This post is a fictionalised thought experiment. YOU and YOU ALONE are in charge of what happens in this story. There are trade-offs, choices, and consequences. YOU must use all of your B.S.D. talents and much of your intelligence. Good luck. So… You’re the head of a trading desk, and you’ve felt a bit frustrated of late. Your desk trades government securities issued by the world’s largest […]

Gold is once again losing its sparkle, poised for its biggest weekly decline since November. The precious metal is down 3.2 per cent over the week to $1,227.87 a troy ounce, after touching its lowest level in 7 weeks on Thursday. Gold is now set for its third consecutive week of declines. Diminishing demand for haven assets has been a key factor for declining gold prices, with […]

The German luxury car maker BMW saw its net profit rise by nearly a third in the first three months of the year as sales increased, helped by profitable 4x4s and the 7-Series large saloon. The Munich-based firmr said Thursday that it made €2.15 billion (Dh8.62bn) in the first quarter, up 31 per cent on the €1.64bn in the year-earlier quarter. Profits were also boosted by a […]

Earlier in the week we shared Pierre Andurand’s hedge fund note blame-casting his fund’s dismal drawdowns on “CTA flows eclipsing the gradual improvement in fundamentals.” The market sell-off is missing the larger picture, he proclaims. “Market participants remain extremely focused on micro developments like US crude inventories while the big picture has been telling us a different supply story for quite some time,” he wrote. “In fact, […]

You couldn’t rain on Wall Street’s parade. Despite Friday’s Manhattan downpour, a rebound in oil prices and an upbeat jobs report helped the S&P 500 log a new closing high. The benchmark index rose 0.4 per cent to a fresh high of 2,399.27 and was up 0.6 per cent for the week in its third consecutive weekly rise. The rally was led by the energy sector, which […]

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