By Richard Cowan | PALM BEACH, Fla. PALM BEACH, Fla. U.S. President-elect Donald Trump on Wednesday said telecommunications group Sprint Corp (S.N) and a U.S. satellite company OneWeb will be bringing 8,000 jobs to the United States, celebrating the moves as a result of optimism associated with his election. It was unclear how the 8,000 jobs are related to a $50 billion investment announced in December by […]
Arguably the biggest newspaper business story of 2016 was Gannett’s failed (for now) bid to take over Tronc. What the broken deal says about the industry, however, is more than a little ambiguous. For starters, consider that 2016 was a particularly hard year financially, with advertising revenue losses that started bad and got even worse in the fall. Both Gannett and Tronc are profitable on a cash […]
When Jack Ma criticised Hong Kong last month for having outdated stock market listing practices, the Alibaba founder hit the city where it hurts. Hong Kong’s rivalry with New York has only heightened since the billionaire chose the US for his ecommerce group’s initial public offering two years ago. And next year, the battle between the world’s two largest listing centres will only become more heated, as three […]
The FTSE 100 was within touching distance of a closing high on Wednesday, as optimism about the outlook for metal prices lifted the shares of the heavyweight miners on Britain’s blue-chip index. On the market’s first day back after the Christmas holiday, the FTSE 100 was up 0.6 per cent at 7107.56 in early afternoon trading, putting it on track to surpass its closing high of 7103.98 […]
Carrie Fisher, the iconic actress who became a household name playing the role of Princess Leia in the Star Wars film franchise, passed away on Tuesday, Dec. 27, after being hospitalized for heart attack last week. She was 60. Fisher was rushed to the hospital on Dec. 23 after suffering cardiac arrest while on a flight from London to Los Angeles. The star had been traveling to […]
When the direct trading link between stock markets in Shenzhen and Hong Kong opened this month, local dignitaries were easy to spot at the launch events. Less conspicuous were international investors ready to take advantage of what was billed as a big opportunity to buy into Chinese equities. The link offers foreign investors greater access to shares on the Shenzhen Stock Exchange, home to some of China’s up […]
By Makiko Yamazaki | TOKYO TOKYO A looming writedown at Japanese conglomerate Toshiba Corp has wiped almost $5 billion off its value in two days and prompted a credit rating downgrade on Wednesday, as the company grapples to plug a potential multi-billion dollar hole. Toshiba said late on Tuesday that cost overruns at a U.S. nuclear business it bought from Chicago Bridge & Iron last year, CB&I […]
|By Arabian Post Staff| Abu Dhabi Stock Exchange (ADX) announced that short selling will be allowed for selected stocks from next year. The move is aimed at boosting trading volume and to attract foreign investors to the illiquid market. ADX is currently meeting brokerages ahead of the introduction of short-selling service early in 2017, according to a statement posted on the bourse’s website. The step would make […]
By Shinichi Saoshiro | TOKYO TOKYO Asia stocks followed Wall Street higher on Wednesday, while the dollar firmed against the yen following the release of upbeat U.S. economic data overnight. Crude oil prices held large gains on expectations of supply tightening once oil-producing nations implement a scheduled output cut. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.4 percent. Australian stocks rode a rise in […]
Shares in Toshiba sank by their daily limit of 20 per cent on Wednesday morning as investors scrambled to reassess the company’s financial stability and questioned the future of one of Japan’s most celebrated industrial names. The stock plunge followed Toshiba’s warning to the market the previous evening that it could book multibillion-dollar impairment losses on part of its Westinghouse nuclear business in the US – a […]
By Yashaswini Swamynathan Wall Street was higher on Tuesday, with the Dow Jones Industrial Average resuming its climb toward 20,000 and the Nasdaq hitting a record as technology and health stocks rose. The blue-chip index has been riding on a post-election rally, feeding on optimism that President-elect Donald Trump’s plans for deregulation and infrastructure spending would bolster the economy. The index, which came within 13 points of […]
In order to meet this demand for fresh content — a demand created by the process that supplies it — Jukin scales idle browsing to industrial proportions. A researcher, on average, watches 200 clips daily. That’s a thousand videos each week, or 50,000 per year, give or take. The company’s research is aided by proprietary software called Riff, which generates feeds based on niche viral keywords. Maybe […]
By Patrick Graham | LONDON LONDON Share prices inched higher on Tuesday as trading in some of the world’s major financial markets resumed after a Christmas break, with oil and the dollar also rising marginally. Concerns about Italian banks, Chinese growth and U.S. President-elect Donald Trump’s protectionist bent look set to keep investors on edge into the start of 2017. But expectations the new administration will splash […]
Abu Dhabi’s stock market plans to introduce covered short-selling in the first quarter of 2017, its chief executive said on Monday, as it seeks to boost liquidity and attract more foreign investors. In covered short-selling, investors borrow shares and sell them in the expectation of repurchasing them later at a lower price. Regulators in the Gulf have until now shied away from allowing the practice because of […]
The eurozone’s biggest stock markets are closing in on double-digit gains for the final quater of 2016, as a combination of resurgent banks shares and a weaker euro entice investors into a region that has disappointed for much of the year. On Tuesday’s return from the Christmas break, Germany’s Xetra Dax 30 advanced 0.1 per cent in early afternoon trading, and is now up more than 9 […]
Chinese retail investors may be able to dream of Picasso while hanging share certificates on their walls. A Singapore-based Chinese billionaire investor, who this year acquired stakes in peer-to-peer group Lending Club, Legg Mason, the fund manager and Sotheby’s, has proposed “securitising” the artist’s work to create fractional ownership and tap a wider market in Asia. Chen Tianqiao and his wife Chrissy Luo, co-founders of investment group […]
MILAN The European Central Bank has told Monte dei Paschi it needs to plug a capital shortfall of 8.8 billion euros ($9.2 billion), higher than a previous 5 billion euro gap estimated by the bank, the lender said on Monday, confirming what sources told Reuters. Last Friday the Italian government approved a decree to bail out Monte dei Paschi (BMPS.MI) after Italy’s No. 3 lender failed to […]
Dubai’s Shuaa Capital bought 14 percent of Bahrain’s Khaleeji Commercial Bank on Sunday for 9.6 million dinars ($25 million) and said it would use the stake to support the bank’s expansion. The Dubai-listed investment bank purchased the stake from Alimtiaz Investment Group for 0.065 dinar per share, acquiring 147.1 million shares in a special auction, the Bahraini bourse said. KHCB is an Islamic retail bank with assets […]
SEOUL Headed for a fourth straight annual profit decline, Hyundai Motor (005380.KS) is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employees, executives told Reuters. The South Korean automaker has been hit by its exposure to weak emerging markets, and a product line-up that features more sedans than sport utility vehicles, just as SUVs have become more popular […]
When US authorities started pursuing banks for their role in slicing, dicing and packaging the arcane products that sparked the financial crisis, they initially focused on domestic lenders. Now it is Europe’s banks that are in the crosshairs. Two days before Christmas, Deutsche Bank and Credit Suisse have agreed to settle with the US Department of Justice over the alleged mis-selling of mortgage-backed securities in the run-up […]
By Tracy Rucinski | CHICAGO CHICAGO Caesars Entertainment Corp’s (CZR.O) bankrupt operating unit resolved a dispute with its lenders on Friday, paving the way for a consensual plan to push the casino group out of its $18 billion Chapter 11. In filings with the U.S. Bankruptcy Court in Chicago, bank lenders said they had reached an agreement over their recovery terms and were withdrawing a threat to […]
The Turkish Army and police won, but victory brought an Aleppo-like landscape. Two dozen acres of the old city have been cleared of the rubble so far, leaving a featureless circular gash on aerial maps. The damage is mostly invisible from street level though, because alleyways leading up to the most devastated areas have been walled up where they intersect with streets that have reopened for business. […]
A round up of some of 2016’s most significant corporate events and news stories. Smartphone sales © EPA A bright start to the year for Samsung Electronicswent up in smoke, after it took the unprecedented decision to axe its Galaxy Note 7 line, following a spate of safety issues that saw the smartphone banned from aircraft, writes Nic Fildes. The 2016 Galaxy Note iteration won substantial praise […]
The vote for Brexit will change the course of Britain’s history, Philip Hammond announced last month. The UK chancellor may be a strident advocate for a soft departure from the EU but he has also been keen to paint a positive picture of the country’s economy, saying the UK’s fundamental strengths will “ensure our future success”. Financial markets are sceptical. The economy may have confounded doom laden […]
