BP cemented its 77-year relationship with Abu Dhabi by swapping about $2.2 billion of its own shares for a stake in one of the emirate’s largest onshore oil concessions. The U.K.’s second-biggest oil group will issue new ordinary shares to pay for 10 percent of the Abu Dhabi Company for Onshore Petroleum Operations Ltd., giving the emirate a 2 percent holding in BP, the London-based company said […]
A series of big events shaped financial markets in 2016. Here is a selection of FT analyses and commentary, alongside charts, highlighting a tumultuous year. The new year rout January proved brutal for investors. After just 10 trading days, global equity markets had lost more than $4tn of value, with sentiment hammered by fears about China’s economic slowdown and a depreciating currency. In turn, bond markets were […]
Many stakeholders are now coming home after a productive week at the 2016 Internet Governance Forum (IGF) in Guadalajara, Mexico. As the first IGF since its 10 year mandate renewal by the UN General Assembly, this was a key edition to set the stage for multistakeholder cooperation in the next few years, and to identify the issues that will have to be addressed by the global Internet community now […]
1 of 15 Fancy something fancy? We pay a visit to 14 of the city’s snazziest afternoon teas to scope out scones, sandwiches and smooth brews. 2 of 15 Al Fayrooz Lounge Rating: 4/5Most impressive item: Mango soufflé with blackcurrant sorbet.There’s a very traditional feel to this afternoon tea, with old-fashioned ceiling fans and a plush Arabesque lounge setting, but the tea itself has a modern twist; […]
It was a clear and chilly afternoon in Moscow – March 18, 2014 – when Russian President Vladimir Putin signed the documents to formally annex the Crimean Peninsula away from Ukraine. Frustrated Western governments soon began rolling out the only response they could agree on to Mr. Putin’s brazen redrawing of Europe’s borders: economic sanctions. Over the next two days, the United States would designate 27 individuals […]
By EconMatters We discuss a preview of January`s Earnings releases and how massive the gap down in most of these stocks will be when they report in a month. There have already been two earning`s guide downs from industrial companies this past week in UTX, and HON. But with the run up in financials and energies for the last month we are going to experience big $5 […]
PARIS French telecoms boss Stephane Richard was sharply criticized by one of the judges and by a witness during the negligence trial of IMF chief Christine Lagarde in Paris this week. Richard, the chief executive of Orange (ORAN.PA), is a target of investigators in a related inquiry which has yet to conclude. He was Lagarde’s chief of staff when, as French finance minister, she approved a payout […]
Wherever she travels, Christine Lagarde receives head of state treatment. But back home in Paris this week, in the chamber where Marie-Antoinette was sentenced to death by guillotine during the French Revolution, the chief of the International Monetary Fund faced unimpressed judges and uncompromising former colleagues. For five days in the small, wood-panelled room, she gave evidence and listened to damning testimonies that pointed to her alleged […]
BP will take a 10 percent stake in Abu Dhabi’s ADCO onshore oil concession for 40 years under a deal signed on Saturday with Abu Dhabi’s Supreme Petroleum Council and the Abu Dhabi National Oil Company (ADNOC), the latter said. Under the deal signed in Abu Dhabi, BP agreed to issue new ordinary shares representing approximately 2 percent of its issued share capital (excluding treasury shares) which […]
Capitalism as we know it is irrevocably in its death throes, argues German sociologist Wolfgang Streeck, which on its own is not a novel thesis. In our age of regular financial crashes and bursting bubbles, illiberal movements and borderless wars, even Nobel Prize winners and mainstream thinkers – I think of Joseph Stiglitz, among others – say that the post-war free market regime is broken, and that […]
Submitted by Duane via Free Market Shooter blog, On Thursday, December 1st, Yasmin Seweid was allegedly assaulted by Trump supporters in NYC. According to BuzzFeed and the NY Daily News, the attack took place at the uptown 6 train stop at 23rd Street in midtown Manhattan. The assaliants allegedly called Seweid a terrorist, broke her bag strap, followed her when she tried to get away from them, […]
Samsung has long outsourced a sizable percentage of its liquid crystal display (LCD) panels from sharp, but this may come to a halt soon, according to reports. Sharp has reportedly given Samsung a heads-up that its supply of LCD panels for the South Korean electronics company will stop beginning next year. Sharp Stops LCD Panel Supply For Samsung Sakai Display Products, a Japanese LCD joint venture between Taiwan’s […]
Toronto worker Kristy Milland looks for data jobs that she can pick up to make ends meet. Image: Sam Santos/George Pimentel Photography This article originally appeared on TechRepublic. Each morning when she wakes up, Kristy Milland powers up her home computer in Toronto, logs into Amazon Mechanical Turk, and waits for her computer to ding. Amazon Mechanical Turk (AMT), which has been around for over a decade, […]
There’s a great scene in The Big Short, the movie of Michael Lewis’ book about the mortgage crisis, where two shiny-suited brokers brag about how many loans they’ve been producing — for big commissions — to unsuitable borrowers. “We call those loans ‘Dorothys’ ‘cause they’re magic,” grins the one in black. “No credit, no income, no problem: just tap your shoes together three times and say ‘There’s […]
By Lisa Baertlein and Svea Herbst-Bayliss Chipotle Mexican Grill Inc (CMG.N), under pressure from activist investor Bill Ackman, named four new board members on Friday, paving the way for a reunion of sorts between its chief executive and a former top executive at McDonald’s, which once owned the burrito chain. Matthew Paull, a former McDonald’s Corp (MCD.N) chief financial officer, will join the Chipotle board. Media executives […]
Etihad Airways and Lufthansa have signed a codeshare agreement that could herald further partnership growth between the two national carriers. In what is seen as the potential start of a growing relationship between the two airlines, Etihad and Lufthansa have agreed to codeshare on the UAE carrier’s twice-daily flights between its home base of Abu Dhabi and Frankfurt, and its twice daily services between Abu Dhabi and […]
By Andrés González | MADRID MADRID French media tycoon Vincent Bollore is bidding for a stake in Spain’s largest sports broadcasting rights firm at the same time as facing off with former Italian president Silvio Berlusconi for control of Mediaset (MS.MI). Bollore’s Vivendi (VIV.PA) is one of 10 bidders, alongside a number of Chinese and U.S. investors, hoping to land either a 30 percent or 51 percent […]
An obscure clash involving a 28-year-old tattoo artist, the Osaka police and an ambiguous century-old medical law has spiralled into a landmark constitutional battle to save an entire industry from oblivion. The showdown in Japan follows the decision of the Osaka police to hit the local tattooing industry with the physicians’ law — a legal framework laid down in the 19th century that technically means only a […]
A prominent South Carolina legislator highlighted in a 2015 investigation by the Center for Public Integrity and The Post and Courier was indicted Wednesday on 30 counts of ethics violations. Rep. Jim Merrill, R-Charleson, was suspended from office after news of the grand jury indictments, which stem from a broader and ongoing Statehouse corruption probe. He is accused of using his communications company to profit from groups […]
What brought you into the world of fashion? I always wanted to make sure I did a job that I was passionate about, and one that wouldn’t simply be a 9-5 office job, which fashion allowed me to do. I began my career on the UK High Street where I started off working on own-label brands and really learnt my trade. Following that I moved on to […]
Latest asset of Abu Dhabi’s cruise tourism sector set to change face of ‘winter sun’ tourism in Abu Dhabi Abu Dhabi-UAE: December 15, 2016 Under the patronage of His Highness Sheikh Hamdan Bin Zayed Al Nahyan, Ruler’s Representative in the Western Region, Abu Dhabi Ports today has officially opened Sir Bani Yas Cruise Beach, offering cruise ship passengers a new beach destination with unmatched tourism experiences. […]
Users will soon deem switching to Periscope unnecessary for livestreaming purposes, with the recent introduction of a new in-app feature that will let Twitter users stream live video directly from the Twitter app. Make no mistake; it’s still Periscope’s handiwork, only now more streamlined. Go Live On Twitter Starting Wednesday, Dec. 14, any Twitter user can now start their own broadcast by tapping the “Live” button housed inside […]
Thousands of people had gathered outside a hospital in the Mashhad neighborhood, which is still controlled by rebels, hoping that an evacuation deal announced on Tuesday by Turkey, Russia and Syrian rebels would hold. But the constant threat from snipers, bombs and shelling was unsettling. Video Aleppo Activists Say Final Goodbyes as Assad Closes In Syrian government forces had reclaimed most of rebel-held eastern Aleppo by Tuesday, […]
Tata Sons Ltd. has won some battles for control of the Tata Group this week, but the holding company atop India’s largest conglomerate still has to win the war against its ousted chairman Cyrus Mistry. In October Tata Sons directors said they had lost confidence in Mr. Mistry’s ability to lead the group and voted him out as chairman in a boardroom coup which shocked investors, analysts […]
