Jeremy Corbyn has backed a cap on high earnings as a way to reduce income inequality, as the Labour leader makes a fresh pitch to UK voters. Mr Corbyn told the BBC on Tuesday: “I would like there to be some kind of high earnings cap, quite honestly.” The Labour leader described the UK as a bargain basement economy on the shores of Europe. “We have the […]
January 10, 2017 by: Nicole Bullock in New York US stock market bulls can be forgiven for feeling like Vladimir and Estragon, the two characters in Waiting for Godot. Donald Trump’s promise to cut tax and business regulation sent the Dow Jones Industrial Average up more than 8 per cent in quick order following his election in early November. However, it has failed to crack the 20,000 […]
She didn’t just talk about Trump.Image: grant pollard/ invision via AP By Marissa Wenzke2017-01-10 01:31:59 UTC “You and all of us in this room, really, belong to the most vilified segments in American society right now,” Meryl Streep told the audience during her acceptance speech at the Golden Globe Awards on Sunday night. “Think about it — Hollywood, foreigners, and the press.” Well, that last group has […]
Upon the closing of the $4.8 billion sale of Yahoo to Verizon, Yahoo will see itself renamed to Altaba Inc as it begins its new direction as an investment company. Complementing the name change will be a new board of directors, with only five individuals claiming a position at the table. Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney, and Jeffrey Smith will continue to serve as […]
By Zachary Fagenson and David Shepardson | MIAMI/DETROIT MIAMI/DETROIT Volkswagen AG (VOWG_p.DE) suffered a new setback on Monday when an executive was charged with conspiracy to defraud the United States over the company’s diesel emissions cheating and the automaker was accused of concealing the cheating from regulators. Oliver Schmidt, who was general manager in charge of VW’s environmental and engineering office in Michigan, did not enter a […]
The Galaxy Note 7’s exploding battery debacle not only triggered a massive PR nightmare for Samsung, but its withdrawal was instrumental in the company incurring revenue losses. Due to this situation, shares of Samsung Electronics dropped soon after the mishap occurred. However, Investors have now reposed faith in the company and their confidence in Samsung Electronics is evidenced by the performance of its stock. Despite all the troubles […]
Bigger may not always be better when it comes to beverage companies. Goldman Sachs analysts, in a note on Monday, downgraded shares of Coca-Cola to “sell” while upgrading Dr Pepper Snapple to “neutral,” saying that the policy winds of 2017 may blow more favourably for US-centric companies than multinational players. A key headwind facing multinationals such as Coca-Cola in 2017 is the strong US dollar, which recently […]
At CES 2017, self-driving cars were a hot topic. Faraday Future revealed its Tesla challenger, the FF91, while Chrysler, BMW, Honda, Hyundai, and Nissan all had anonymous vehicle announcements. But the big question is, when will truly self-driving cars be in use or available to purchase? That’s what I asked Ford executives before CES kicked off. Ford is actively developing its own self-driving […]
Ryan Reynolds and Andrew Garfield have inspired some glorious fan art.Image: Lionel Hahn/Sipa/Rich Fury/Invision/AP/mashable composite By Sam Haysom2017-01-09 10:35:02 UTC When a moment like the Ryan Reynolds/Andrew Garfield kiss happens, it sends gleeful shockwaves throughout the internet. One of inevitable results of such a moment? Fan art. First, let’s take another look at the kiss itself, in all its passionate glory: Here’s a close up, for good […]
The Federal Bureau of Investigation has arrested a Volkswagen AG (VOWG_p.DE) executive on charges of conspiracy to defraud the United States, the New York Times reported on Monday. Oliver Schmidt, who headed the company’s regulatory compliance office in the U.S. from 2014 to March 2015, was arrested on Saturday by federal investigators in Florida, the newspaper said, citing people familiar with the matter. nyti.ms/2iTA73S VW admitted in […]
Banks have flooded the market with debt in the first days of the new year, propelling a record pace of bond sales as companies seek to lock in borrowing costs before interest rates rise further. The sales have been met with ample investor appetite ahead of the fourth-quarter earnings season, when the majority of US banks are expected to report improved profitability. Banks have sold $42bn of the […]
One of the more cherished bits of jargon used in finance is an idea that cash may sit on the sidelines, as if piles of notes are substitute players ready to dive into the great game of markets. Investors are still sitting on large piles of cash, holding nearly 5 per cent of their portfolios in spare liquidity in December, according to data from BofA Merrill Lynch. […]
A year ago Mohammed bin Salman, Saudi Arabia’s deputy crown prince and the power behind the throne, electrified the global energy industry by revealing plans to float the world’s largest oil producer. The ambitious proposal for an initial public offering in state-owned Saudi Aramco is the centrepiece of the hard-charging 31-year-old’s vision to overhaul an economy seen as too heavily dependent on natural resources. One year on […]
Britain’s three quoted major supermarkets are expected to report this week that they enjoyed solid Christmas trading, though investor concern about a potential squeeze on consumer spending in 2017 means the focus is on their outlooks. Shares in market leader Tesco (TSCO.L) and Morrisons (MRW.L), the UK’s fourth biggest grocer, soared 38 percent and 55 percent respectively in 2016, reflecting a recovery in trading. That coincided with […]
By Christine Murray | SAN LUIS POTOSI, Mexico SAN LUIS POTOSI, Mexico Ford Motor Co’s (F.N) abrupt move to scrap a planned $1.6 billion car plant in central Mexico has spooked a network of suppliers who bet on a growing customer base and dramatized the risk that Donald Trump’s agenda poses to the country’s broader economy. Many auto parts makers had started to expand in anticipation of […]
Teva Pharmaceuticals, the world’s largest maker of generic drugs, has cut its sales and profit expectations for 2017 as it braces for more pricing and competition pressure on its best-selling drug — the multiple sclerosis treatment Copaxone. The Israeli group said net revenue for full-year 2017 would now be $23.8bn-$24.5bn, compared with the $25.2bn-$26.2bn range it gave in July. Expectations for earnings per share have also been […]
DUBAI, UNITED ARAB EMIRATES: 5 January 2017 Thomson Reuters, the world’s leading source of news and information for professional markets and the Dubai Financial Services Authority (DFSA), will co-host the 11th MENA Regulatory Summit on February 5th & 6th in Dubai, United Arab Emirates. Held under the patronage of the UAE Minister of Economy, H.E Sultan bin Saeed Al Mansouri, the summit will debate key challenges that […]
Dubai Financial Market (DFM) saw its capitalisation rise by more than 12 percent during 2016 to AED337.6 billion ($91.9 billion), it has been announced. DFM’s General Index increased 12.1 percent to 3,531 points at the end of 2016 compared to 3,151 points at the end of 2015. Indices of eight out of the nine sectors featured on the DFM ended the year in the green, with the […]
Samsung Electronics has forecast its best quarterly profit in more than three years, projecting that operating profit for the last three months of 2016 surged 50 per cent as strong sales of chips and display panels offset the Galaxy Note 7 debacle. The world’s largest maker of memory chips as well as smartphones estimated its fourth-quarter operating profit at Won9.2tn ($7.8bn), the highest since the third quarter […]
Donald Trump has turned his Twitter ire on Toyota, telling the Japanese carmaker that it will face heavy penalties if it chooses to make cars for the US market in Mexico. “Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax,” the President-elect wrote on Twitter on Thursday. The […]
Fine leather accessories do not come cheap. But with so many options on the market for high end leather goods, how does one make a choice? Robert Ettinger, Managing Director of leather brand Ettinger London, shares his tips. 1. Practicality: Choose accessories that will fulfil your requirements in terms of storage and efficiency, be it a briefcase or card holder, Ettinger advises. More often than not, business […]
By Susan Cornwell and Susan Heavey | WASHINGTON WASHINGTON Senate Democrats on Thursday demanded an ethics probe into Tom Price, President-elect Donald Trump’s pick for U.S. health secretary, following a report that the fierce Obamacare critic traded in healthcare company stocks while pushing legislation in Congress that could affect those shares. Senate Democratic leader Chuck Schumer and others made their comments as congressional Republicans moved ahead with […]
Donald Trump remains opposed to AT&T Inc’s (T.N) planned $85.4 billion acquisition of Time Warner Inc (TWX.N), Bloomberg reported, citing people close to the president-elect. Trump, who has been silent about the transaction for months, told a friend in the last few weeks that he still considers the merger to be a bad deal, Bloomberg reported. (bloom.bg/2jfkJlx) He believed the deal would concentrate too much power in […]
ADEN At least three soldiers were killed in clashes with al Qaeda militants in southern Yemen in an operation launched by the internationally recognised government of President Abd-Rabu Mansour Hadi, security sources said. They said at least 10 other soldiers were wounded when troops were ambushed east of the coastal city of Shuqra on Tuesday. Intense clashes were continuing on Wednesday. The sources said that Hadi forces, […]
