Sign up to receive Authers’ Note daily by email here Donald Trump has been remarkably consistent in his first month in office. As he reminded everyone at his press conference on Thursday, he has done what he said he would do. But on the same day came one clear-cut instance where he has changed his mind — on the stock market. This is what he tweeted on Thursday. […]
Annual rent for a one-bedroom apartment in Barsha Heights: Dh165,000 Features This 1, 839-square-metre penthouse is located in the Two Towers complex in Barsha Heights (or Tecom, if you prefer). Pros We love the fact that the apartment is set over two levels, with light-filled living areas on the lower floor and the bedroom on the upper. The wooden floors, double-height living areas, great views, and contemporary […]
February 17, 2017 by: Eric Platt, US Capital Markets Correspondent A few seats away from starlets Adriana Lima, Amber Valletta and Diane Kruger in the salon at New York’s St. Regis hotel, buyers from the department store chain Bergdorf Goodman were trend-spotting. They were there to see Jason Wu’s latest autumn collection, a line-up full of amber gold velvet draped dresses, smart glen plaid workwear and sheer […]
Ambitious dealmaking can spell pain for corporate bond investors. Unilever’s bondholders were offered a reminder of that on Friday as prices for the Anglo-Dutch consumer group’s debt fell after the company rejected a $143bn takeover approach from US rival Kraft Heinz. Bonds that were sold only last week by Unilever dropped, with half the €1.2bn issue sliding 2 per cent to 98.37 cents on the euro, leaving […]
“Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism — even before tax plan rollout!” Donald Trump tweeted this week. It is a statement that goes beyond the president’s usual rhetoric. Indeed, Wall Street had a record-setting week that included the four key US stock benchmarks — the S&P 500, the Dow Jones Industrial Average, the Nasdaq Composite and the […]
The four major US stock benchmarks snapped their longest record setting streak since 1995 on Thursday. The S&P 500 closed 0.1 per cent lower at 2,347.22, while the Dow Jones Industrial Average ended the day little changed at 20,620.04. Meanwhile, the Nasdaq Composite slid 0.1 per cent to 5,814.90, while the Russell 2000, the benchmark index for US small cap stocks, fell 0.5 per cent to 1,397.18. […]
Friday 04.40 GMT Overview Market volatility dissipated in Asia trade on Friday as the dollar’s downward momentum eased and US Treasuries steadied, but equities in the region were led lower by heavyweights including Toshiba and Samsung. Hot topic Shares in Japan’s Toshiba dropped as much as 12.2 per cent, bringing the company’s market capitalisation nearly 25 per cent lower for the week with a cumulative loss of […]
The welcome I have booked a hotel transfer for the two-hour drive from Muscat International Airport up into the Hajar Mountains, and it’s a great relief to settle back into a comfortable new Lexus four-wheel drive, equipped with entertainment screens, snacks and drinks, and relax until we get there. By the time we arrive at the hotel, it’s dark, but the entrance and interior courtyards are pleasantly […]
Europe’s fish lovers are facing higher cod prices because of a prolonged fishing strike in Iceland and increased demand after the rising cost of salmon led shoppers to seek alternatives. Norwegian cod prices have risen almost 30 per cent from a year ago to €2 a kilogramme after a 45 per cent rise in salmon prices over the same period led consumers to look for cheaper substitutes. […]
For a coking coal industry that enjoyed bumper profits last year off the back of a price rally that made it 2016’s best performing big commodity, Teck Resources’s chief executive summed up the industry’s uneasy reliance on policymakers in Beijing. “I think on Chinese policy, we could go around the table and everyone would have a different opinion on that one,” Don Lindsay told analysts after reporting […]
The likes of France and the Netherlands have long been staple destinations for cycling enthusiasts, but the growth of riding a bike for sport has seen cycling-holidays spring up all over the world. And there are some new destinations that are going to special lengths to burst onto the scene Yorkshire, England Yorkshire has thrown itself into road cycling with almost unnerving gusto. Since hosting the opening […]
By Lisa Baertlein and Paul Ingram | NOGALES, Arizona NOGALES, Arizona For up to 16 hours a day, tomatoes, peppers, cucumbers and mangoes grown in Mexico flow north through a border checkpoint into Nogales, Arizona, helping to ensure a year-round supply of fresh produce across the United States. This is a city built on cross-border trade. Each year, some 330,000 trucks and 75,000 train cars carrying $17 […]
Thursday 05.10 GMT Overview The dollar was on the back foot in afternoon Asia trading on Thursday as US Treasuries steadied and oil prices found their footing after dipping on news of growing US stockpiles. Hot topic The dollar index tracking the greenback against a basket of peers was off as much as 0.3 per cent, as a rally spurred by US Federal Reserve chair Janet Yellen’s […]
For the tattered Rashidiya neighborhood here, the recent battle never ended. It just shifted course along the river. Rashidiya was the last district in eastern Mosul declared liberated in late January, but army officers say Islamic State sleeper cells remain entrenched. Continue reading the main story And those are not the only troubles here. Even as American-backed Iraqi forces prepare an offensive against the Islamic State stronghold […]
The reflation trade is back, in earnest. On Wednesday, all-world stock indices traded at all-time highs for the first time since spring 2015. US 10-year bond yields rose back to 2.5 per cent. Bank stocks rallied, with Goldman Sachs at an all-time high for the first time in a decade. So did tech stocks — Apple is back at a record. All of this after a hawkish […]
Wednesday 14:30 GMT Overview Global equities were on track to close at all-time highs as Wall Street hovers near record levels in the wake of comments from Federal Reserve chair Janet Yellen. And Ms Yellen’s more hawkish than forecast rhetoric has been backed up on Wednesday by stronger than expected US retail sales and inflation data that are pushing up the dollar and bond yields, while leaving […]
The emirate of Abu Dhabi is in no rush to issue an international bond this year after completing a non-deal roadshow for investors in Asia, and may not issue at all this year, sources close to the matter said on Wednesday. Government representatives met Asian fixed income investors at the end of January, but “the non-deal roadshow was just that: a non-deal roadshow. They won’t issue this […]
WASHINGTON Feb 15 U.S. consumer prices recorded their biggest increase in nearly four years in January as households paid more for gasoline and other goods, suggesting inflation pressures could be picking up. The Labor Department said on Wednesday its Consumer Price Index jumped 0.6 percent last month after gaining 0.3 percent in December. January’s increase in the CPI was the largest since February 2013. In the 12 […]
After a day of chaotic communication, a stock sell-off and a $6.3bn writedown that may destroy one of Japan’s greatest industrial names, the Toshiba president’s bow of apology finally came. Satoshi Tsunakawa’s head nodded for just one perfunctory second on Tuesday. Most assume there will be much deeper, longer bows to come as Toshiba leads investors, customers, employees and Japan as a whole through the country’s first […]
The reaction to a strike at the world’s largest copper mine underlines the sharp reversal in fortune in one of the world’s key metals over the past four months. Copper has jumped 5 per cent in the past two days to a two-year high after a strike at the Escondida mine in Chile raised supply fears about a market that has been starved of investment. The dispute […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. producer prices recorded their largest gain in more than four years in January amid increases in the cost of energy products, but a strong dollar continued to keep underlying inflation at the factory gate tame. Rising raw material costs are boosting producer prices across the globe, notably in China, which is the biggest source of U.S. imports. But economists still […]
The US economy and fiscal policy face an uncertain path under the administration of Donald Trump, Janet Yellen warned on Tuesday as she declared “monetary policy is not on a preset course” but said it would be “unwise” to raise rates too slowly. Testifying before Congress on Tuesday, the Federal Reserve chair painted a picture of an economy with accelerating growth, higher inflation and a robust labour […]
Greece is planning to appoint Rothschild to advise on its debts as the country attempts to end a long-running creditor stand-off and avert default. Government officials hope to finalise the appointment before a gathering of eurozone finance ministers on February 20 that has been described as the last chance for Greece’s lenders to overcome their differences before European attention shifts to general elections in eurozone countries. Unless […]
Tenants in Dubai could have the upper hand when negotiating rental rates thanks to a significant amount of stock coming to the market in 2017, according to real estate consultancy Asteco. Its new report said there are 31,500 apartments and 12,500 villas and townhouses scheduled to be delivered this year in areas including City Walk by Meraas, Damac’s Akoya, Dubai Wharf by Dubai Properties and Emaar’s Mira. […]
