Submitted by Nick Kaman of Letters from Norway Introduction: Norwegians are just now starting to grapple with the effects of their “single cylinder” economy, mostly dependent on oil and gas (ca. 60% of exports). Despite optimism about $50-$70/barrel oil, American crude output is surging, on track to be the highest ever, since 1970, while cracks start to form in OPEC’s latest agreement. In addition to the oil […]
By Sharon Bernstein | OROVILLE, Calif. OROVILLE, Calif. Nearly 200,000 people living below the tallest dam in the United States, near Oroville in Northern California, were urgently ordered to flee their homes on Sunday after a spillway appeared for a time to be in danger of imminent collapse. Authorities issued the abrupt evacuation orders in the mid-afternoon, saying that a crumbling emergency spillway on the Lake Oroville […]
By Tetsushi Kajimoto and Stanley White | TOKYO TOKYO Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption and the risks of rising U.S. protectionism cast doubts over a sustainable recovery. Data on Monday showed the world’s third-largest economy grew an annualized 1.0 percent in October-December, roughly in line with […]
China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business. The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the […]
Dubai, 12 February 2017 Emirates NBD (DFM: EmiratesNBD), a leading bank group in the region, held its tenth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, a review of the year ended 31st December 2016 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE continues to stand out as a resilient and […]
Shown above are seawater battery pack (left) and seawater battery kit (right) developed by Professor Youngsik Kim’s reserach team at UNIST. Credit: UNIST Researchers at Ulsan National Institute of Science and Technology (UNIST) in South Korea will be working to develop a new battery, using abundant and readily available seawater. UNIST will be working with public organizations in the energy sector to develop a new type of […]
When investors last month thumbed through the voluminous marketing materials from Blue Nile, the US online jeweller being taken private by Bain Capital, a few numbers — and footnotes — stood out. Blue Nile was seeking to raise $180m of debt to fund the $500m private equity takeover. By one measure, Blue Nile’s debtrepresented roughly four times its adjusted earnings before interest, taxes, depreciation and amortisation of […]
Wikimedia Commons The US Food and Drug Administration (FDA) has been called a “toothless dragon” in the past when it comes to medical device security, but one security expert believes the FDA is only one of many impotent agencies that need to get their act together. The security of our medical devices, including pacemakers, embedded cardiac devices, and insulin pumps have come under scrutiny as of late. […]
By David Shepardson | WASHINGTON WASHINGTON The chief executives of 18 major automakers and their U.S. units urged President Donald Trump to revisit a decision by the Obama administration to lock in vehicle fuel efficiency rules through 2025. In a letter sent late Friday and viewed by Reuters, the chief executives of General Motors Co (GM.N), Ford Motor Co, Fiat Chrysler Automobiles NV, along with the top […]
Here are the big questions facing investors ahead of a new trading week. How long does a reprieve for French bonds last? After a burst of selling early last week, French debt was granted a reprieve with the 10-year benchmark yield easing back below 1.10 per cent. In turn, the divergence over 10-year Bund yields also pulled back from a four-year plus high. Traders remain nervous after […]
The latest retailer to join the “anti-Trump resistance“, is also the one which despite being closest to death managed to crush short sellers on Friday after its stock soared on the announcement of yet another hail ymary restructuring: according to Reuters, Sears and Kmart are discontinuing online sales of 31 Trump Home items. An obvious publicity stunt meant to distract the public’s attention from the company’s chronic […]
While federal regulation has stagnated, local activism in the wake of the 2015 accident spurred Southern California regulators to revive a 27-year-old effort to ban HF. “Let’s see if we can phase this out to provide an extra level of protection for the public,” Philip Fine, a deputy executive director of the South Coast Air Quality Management District, said in an interview. Separately, California officials have been […]
Microsoft is continuing to beef up its security offerings across Windows 10, SQL Server, Office, and Azure and is using next week’s RSA conference to highlight its latest incremental updates. Windows Hello, Microsoft’s authentication service meant to replace passwords, already works with Azure Active Directory and Azure Active Directory Connect. With the Windows 10 Creators Update, users also will be able to use Windows Hello in on-premises […]
ISTANBUL President Tayyip Erdogan said on Sunday the final goal of a Turkish incursion into Syria was not just to retake the city of al-Bab from Islamic State, but to cleanse a border region including Raqqa of the jihadists. Turkish-backed Syrian rebels are pressing a major offensive on al-Bab, 30 km (20 miles) south of the Turkish border. The advance risks putting them in direct conflict with […]
|By Arabian Post Staff| As much as 69 percent of oil demand growth up to 2022 will be in Emerging Asia, according to a report by Bank of America Merrill Lynch. Other key conclusions of the report include advancement of the oil demand peak from 2050 to 2035 due to fast growth in electrical vehicles, increased carpooling/sharing and autonomous driving; increase in consumption by 1.1mn b/d p.a. […]
A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk & compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk. Bribery: The former CEO of PLC was questioned by the U.K. Serious Fraud Office […] (via Google News)
One day after vowing to pursue a courtroom battle over his controversial travel ban, President Donald Trump on Friday said he may rewrite the executive order that threw the nation’s airports into chaos. The president told reporters travelling with him aboard Air Force One that he was considering a new order to address objections raised in several legal challenges. Mr Trump offered no details of potential changes […]
12 February 2017 Dubai, United Arab Emirates – Marsh & McLennan Companies Inc. (NYSE: MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, is a strategic partner of the newly published 2017 Global Risks Report, an annual publication released by the World Economic Forum at Davos. This year’s 2017 Global Risks Report reveals that economic inequality, societal polarisation and intensifying […]
TOKYO Japanese conglomerate Toshiba Corp probably suffered a group net loss of about 400 billion yen ($3.52 billion) in the nine months through December, the Nikkei reported on Sunday. The loss is largely due to a goodwill impairment of around 600 billion yen on a U.S. nuclear unit that came to light in late 2016. During the year-earlier period, Toshiba lost a similarly significant 479.4 billion yen. […]
Nintendo’s NES Classic Edition has suffered from supply shortages ever since it was released in November of last year, so for gamers who went through great lengths to acquire the retro console, it is understandable that they would want to make the most out of the in-demand device. Hackers have now shown that the NES Classic Edition can be transformed into the ultimate emulation device, allowing games from […]
The European government bond market had what is known in technical circles as a minor freak-out this week. Yet as yields in eurozone bonds diverged sharply, the markets for stocks, corporate debt and currencies carried on regardless. The Cac 40 index of large French-listed companies was barely changed on the week. The euro weakened per cent against the US dollar, but at the same time the dollar […]
Nordea, the Nordic bank, has banned its fund managers from investing in the companies constructing the $3.7bn Dakota Access oil pipeline, just weeks after Donald Trump, the US president, decided to push forward with the controversial project. The bank’s fund management division will no longer invest in Energy Transfer Partners(ETP), the main company that oversees the disputed project, amid concerns about the environmental and reputational risks of […]
Is there really such a thing as a market bubble? I feel almost heretical answering this question. I and most readers have lived through two decades that were dominated by two vast investment bubbles and the attempt to deal with their consequences when they burst. Getting into definitions is beside the point. As US Supreme Court Justice Potter Stewart once said to define pornography: “I know it […]
Gulf countries are forecast to drive the bulk of 2017 sovereign debt issuance, followed by Latin America, according to Bank of America Merrill Lynch. Its latest GEMs Macro Monthly report said it expects Saudi Arabia, Argentina, Qatar and Kuwait to be the largest gross and net debt issuers in 2017. It said these four issuers could account for 37 percent of the total sovereign gross issuance. Among […]
