Fitbit is in advanced talks to acquire Pebble, the smartwatch pioneer and darling of crowdfunding site Kickstarter, according to several people close to the negotiations. The deal, which is in its closing stages but has not been completed, would bring intellectual property and new expertise in wearable devices to Fitbit at a time when the fitness-tracker maker is looking to expand its product range. Pebble has raised […]
The shares of large US energy groups shot up to their highest levels since last July on Wednesday after Opec agreed to the first production cut since the 2008 financial crisis. The S&P 500 energy sector rallied 4.8 per cent in its biggest gain in 15 months. The rise came after the cartel struck a long-awaited pact aimed at reducing the glut of supply on global markets […]
Shares of Goldman Sachs Group Inc (GS.N) on Wednesday climbed to their highest levels since the financial crisis, as the bank benefited from a post U.S. presidential election rally. The stock reached $220.77 in late morning trading, returning to a point not seen since December 2007. Goldman was the biggest driver for the Dow Jones Industrial Average .DJI adding 56.2 points out of a net gain of […]
MUMBAI—A Morgan Stanley Investment Management Fund has slashed the valuation of its holding in India’s leading e-commerce firm Flipkart Internet Pvt. by 38%, as the startup faces increased competition from U.S. rival Amazon.com Inc. and others. In a filing this week to the U.S. Securities and Exchange Commission for the quarter ended Sept. 30, the fund called the Morgan Stanley Select Dimensions Investment Series said it held 1,969 shares in the company, which […]
Nov 30, 2016 10:58 am IST Electronic-payment company Euronet Worldwide Inc. cut its financial projections for the quarter, citing a cash crunch that is wreaking havoc through India’s economy. Shares, up 3% this year, fell 5.4% to $70.66 in after-hours trading. India, which is replacing its largest-denomination bank notes to fight corruption and counterfeiting, is the fifth-largest market by revenue for the Kansas-based company, accounting for $78.7 […]
Wednesday 06:00 GMT Overview Markets across Asia were treading cautiously on Wednesday, following mild overnight gains for Wall Street, a weakening of the US dollar and as investors turned their attention to a meeting between Opec members later today. European bourses are expected to open with only meagre moves, with spreadbetters predicting the UK’s FTSE 100 will slip 10 points to 6,762 and Germany’s Dax to be […]
In this year’s election, the most powerful news source was Facebook. More than 40 percent of US adults—that’s more than watch any single TV channel—get their news from Facebook, according to Pew, and as plenty of journalists have recounted, the platform is flooded with hyperpartisan fake news. Yet Mark Zuckerberg and Facebook’s leadership refuse to own up to their responsibility for our politics. Zuckerberg argued […]
Al Wadei: The rules of the E-Commerce game have changed after the introduction of “noon.com” 29 November 2016 E commerce expert, Dr Sadeq Al-Wadei, revealed that after the inauguration of noon.com in January 2017, it would utterly change E-Commerce platforms as we know them whilst emphasizing on the fact that it would entirely change this trade in Saudi Arabia over the coming few years. In addition, it […]
In the wake of Donald Trump’s surreal ascension to POTUS, Facebook CEO Mark Zuckerberg publicly defended his company’s culpability in Trump’s win. Critics have pointed to Facebook’s propagation of fake news via the site’s algorithmically curated “Trending Topics” module and—perhaps even most dastardly—within users’ News Feed as directly responsible for the rise of America’s first potentially authoritarian-ish leader. Zuck’s public refutation exists within a larger […]
By Pamela Barbaglia and Anjuli Davies | LONDON LONDON U.S. healthcare company Johnson & Johnson (JNJ.N) is raising its offer for Swiss biotech group Actelion (ATLN.S) in an attempt to win it over for a buyout, a source familiar with the situation said on Tuesday. Actelion shares closed up 10 percent at 209 Swiss francs, rebounding from negative territory. The source said Johnson & Johnson increased its […]
In a report confirming that the ECB is preparing for a rerun of a post-Brexit scenario, Reuters writes that the ECB is ready to temporarily step up purchases of Italian government bonds if the result of next Sunday’s crucial referendum, which according to WSJ will likely determine the future of not only Monte Paschi but other insolvent Italian banks, “rocks markets” and sharply drives up borrowing costs […]
By Alexander Winning | MOSCOW MOSCOW Russia’s former Economy Minister Alexei Ulyukayev privately argued to colleagues in government that the state should give up control over oil giant Rosneft, before he was arrested two weeks ago in a sting inside the company’s offices, according to two sources. A source familiar with Ulyukayev’s thinking, speaking before Ulyukayev was arrested on bribery charges on Nov. 15, told Reuters that […]
Vocus Communications has said it will be investing more in data analytics and digitising its customer service processes over the next year in order to continue competing in the telecommunications landscape. “This year, we have decided to invest in our data analytics capability, taking advantage of the forced shift from copper to fibre occurring over the next few years in both Australia and New Zealand,” Vocus chair […]
Sunday, June 8 – The Islamic Finance Gateway (IFG) Briefing, published from Sunday to Thursday, carries the latest market-moving news and data for institutions offering Islamic financial services. To view the full IFG Briefing click here: bit.ly/1qb3njw Top Stories: Islamic Economy: Islamic credit cards and startup financing focus for EFICA 2014 (Page 3) Country: Advertisement ? Call for more private sector involvement in Turkey’s Islamic finance sector […]
Creating diagrams, such as organizational charts and network infrastructure maps, used to require either a designer or a whole lot of patience. Not anymore. Diagramming app SmartDraw intuits the shapes and objects you’re going to put into a diagram based on the template you choose. It gives you buttons that quickly add the new elements, align them, and make them look professional. The program is dead simple […]
The US Securities and Exchange Commission is examining the timing of $3bn of impairment charges that Rio Tinto booked on a disastrous Mozambique coal deal, sources close to the company have confirmed. The Anglo-Australian miner was already facing scrutiny from US regulators when it contacted law enforcement authorities this month about a questionable payment made to a consultant operating in Guinea. The Mozambique investigation, first reported by […]
The Chicago Stock Exchange, which is seeking to win approval for a controversial takeover deal by Chinese investors, on Monday said that two companies controlled by the Lu family would own a combined 39 per cent of the exchange, but their voting power would be limited to 20 per cent. In a filing with the Securities and Exchange Commission, the Chicago exchange detailed the underlying investors in […]
Much of the markets’ mixed reaction reflects uncertainty about a new president who has never held public office, leaving political leaders, business executives and international institutions to make bets on how a Trump administration may rewrite rules that have governed global affairs under American presidents of both parties. Continue reading the main story “For allies and adversaries alike, the election of Donald Trump represents the likely abandonment […]
Time Inc (TIME.N), the publisher of Time, People and Fortune magazines, has rejected a takeover bid from billionaire investor Edgar Bronfman Jr., the New York Post reported on Monday. Bronfman offered $18 per share, the Post reported, representing a premium of 30.4 percent to Time Inc’s Friday close and valuing the publisher at $1.78 billion. Time Inc’s shares jumped 18 percent to $16.05 on Monday. Bronfman, who […]
DUBAI, June 9 (Reuters) – Dubai Islamic Bank has completed the acquisition of a 24.9 percent stake in Bank Panin Syariah and will now seek regulatory approval to increase its holding in the Indonesian lender to 40 percent, it said on Monday. The largest Islamic bank in the United Arab Emirates has bought 2.42 billion shares in the only listed sharia-compliant bank in the southeast Asian nation, […]
Monday 12:00 GMT. Overview Stock markets in Europe are slipping back, led by losses for embattled Italian financials, on concern about potential contagion spreading from the sector into the eurozone financial system after Italy’s reform referendum. Meanwhile the dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.1 per cent, although it is holding […]
Monday 11:30 GMT. Overview The dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.5 per cent, although it is holding the 100-point mark at 100.940. Stock markets in Europe are slipping back, led by losses for embattled Italian financials. Hot topic Oil is likely to loom large over the week before Wednesday’s Opec […]
DUBAI, June 9 (Reuters) – Dubai Islamic Bank has completed the acquisition of a 24.9 percent stake in Bank Panin Syariah and will now seek regulatory approval to increase its holding in the Indonesian lender to 40 percent, it said on Monday. The largest Islamic bank in the United Arab Emirates has bought 2.42 billion shares in the only listed sharia-compliant bank in the southeast Asian nation, […]
Industry eyes opportunity to reinvest at higher yields and leave low rate era behind ©Noam Galai/WireImage/Getty Donald Trump may be just what the global insurance industry needs. Shares in several of the sector’s largest companies have outperformed the market strongly since the US election, on hopes that a prolonged squeeze on their returns is finally drawing to a close. Years of ultra-low rates have eaten away at […]
