Law Blog rounds up the morning’s legal news: Law firm hacking: Three Chinese traders earned more than $4 million in illegal profits after they hacked into the computer systems of prominent U.S. law firms and stole nonpublic information on mergers and acquisitions, according to an unsealed federal indictment. [WSJ, NYT] Student loan bankruptcy: Borrowers are beginning to win battles to erase some student loans in bankruptcy court, […]
By Se Young Lee and Stephen Nellis | SEJONG, South Korea/SAN FRANCISCO SEJONG, South Korea/SAN FRANCISCO South Korea’s antitrust regulator fined Qualcomm Inc (QCOM.O) 1.03 trillion won ($854 million) for what it called unfair business practices in patent licensing and modem chip sales, a decision the U.S. chipmaker said it will challenge in court. The fine, the largest ever levied in South Korea, marks the latest antitrust […]
Carrie Fisher’s death is being mourned by all sections of the arts and entertainment community, from fellow actors to rock stars and authors. Here, we reflect on five ways the actress and writer changed the face of popular culture. She invented Girl Power Fisher once self-deprecatingly characterised her role as Princess Leia in Star Wars as a lot of “running down corridors”. Of course, she represented much […]
Even as the Singapore economy is projected to see worsening economic climate next year, local businesses appear unwilling to transform to cope with the changing environment. Just 15 percent of small and midsize businesses (SMBs) and 36 percent of large enterprises strongly agreed with the need to transform to adapt to slowing economic growth as well as technological change and disruption. Across the board, 62 percent agreed […]
The remaining population of the cheetah in the wild hints that the world’s fastest mammal is heading toward extinction. Only 7,100 Cheetahs Left In The Wild A new study that looked into the number of the speedy big cat estimated that there are only 7,100 of these animals left in the wild. The findings prompted calls for the International Union for the Conservation of Nature (IUCN) to re-categorize the […]
Orthodox Jews in black coats and skullcaps danced with Arabs in flowing robes and checkered kaffiyehs at a Hanukkah celebration over the weekend in Bahrain, a Muslim-majority monarchy whose king has sanctioned celebrations of the Jewish holiday. Video of the celebration, which included a Jewish delegation giving a large silver menorah to Arab dignitaries and members of both groups dancing together, appeared on Monday on YouTube, where […]
$6.2 million: Amount former World Wrestling Entertainment executive Linda McMahon, who Trump picked to serve in his Cabinet as the Small Business Administration administrator, donated to pro-Trump political groups ahead of the election 33: Number of states that will be led by a Republican governor in 2017 3-to-1: Factor by which Team Clinton outgunned Team Trump on the TV airwaves during the general election 11: Percentage of TV ads sponsored by […]
BEIJING The eastern Chinese city of Wuxi will suspend poultry trade from Thursday amid fears about bird flu, becoming the second city in Jiangsu province to halt live poultry markets, it said. The city will close live poultry wholesale markets, restrict vehicles carrying live poultry from entering Wuxi markets and temporarily ban the entry of outside poultry, the city’s information office said on Wednesday on its official […]
|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 […]
Qualcomm has been fined 1.03 trillion won ($865 million) by the South Korean Fair Trade Commission (KFTC) over antitrust violations, with the regulator finding the chip giant’s business practices to be in violation of competition law. Qualcomm’s business model includes collecting royalty payments from clients, which are calculated on the price of the handset using the chip, rather than the price of the chipset itself, and royalties […]
TAIPEI China’s sole aircraft carrier the Liaoning has arrived at a naval base on the southern Chinese province of Hainan, a senior Taiwanese military officer said on Wednesday, after drills that took it around the island China claims as its own. China has given few details of what the Soviet-built Liaoning is up to, save that it is on a routine exercise. Taiwan has said the aircraft […]
Obama says Japanese leader’s Pearl Harbor visit shows power of reconciliation | Reuters ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } PEARL HARBOR, Hawaii U.S. President Barack Obama said on Tuesday Japanese Prime Minister Shinzo Abe’s visit to the site of the 1941 Japanese attack on Pearl Harbor showed the power of reconciliation. “This historic gesture speaks to the power of reconciliation. … A reminder that even the deepest wounds of […]
By Jeff Mason | PEARL HARBOR, Hawaii PEARL HARBOR, Hawaii Japanese Prime Minister Shinzo Abe joined U.S. President Barack Obama for a symbolic joint visit to Pearl Harbor on Tuesday, commemorating World War Two dead and pledging that Japan would never wage war again. The visit, just weeks before Republican President-elect Donald Trump takes office, was meant to highlight the strength of the U.S.-Japan alliance in the […]
By Nate Raymond | NEW YORK NEW YORK Three Chinese citizens have been criminally charged in the United States with trading on confidential corporate information obtained by hacking into networks and servers of law firms working on mergers, U.S. prosecutors said on Tuesday. Iat Hong of Macau, Bo Zheng of Changsha, China, and Chin Hung of Macau were charged in an indictment filed in Manhattan federal court […]
By Diane Bartz | WASHINGTON WASHINGTON Healthcare company Abbott Laboratories (ABT.N) has won U.S. antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical Inc (STJ.N), the U.S. Federal Trade Commission said on Tuesday. Abbott agreed to divest two medical devices used in cardiovascular procedures to resolve FTC concerns the acquisition would stifle competition, the commission said in a statement. The company […]
A Kingdom of Oil From the beginning, the social contract between commoners and royals constituted a trade-off: a share of the country’s wealth in exchange for absolute rule by the Saud monarchs. A Life magazine correspondent visiting in 1943 described how, as King Abdulaziz waited on a roadside while a flat tire was fixed on his Packard, he gave a shepherd passing on camelback several gold pieces. […]
One year after this website demonstrated that Turkey was cooperating with the Islamic State, in the very least trading cash in exchange for crude oil sold to various Turkish outposts (a trade which was subsequently ended by the Russian air force), Turkey has flipped the tables and on Tuesday Turkish President Recep Tayyip Erdogan said he has uncovered evidence that US-led coalition forces have helped support terrorists […]
India’s Parsis are one of the most successful minority and migrant groups in the world. They make up less than 0.005% of India’s population but three out of the country’s top 10 billionaires. They fled Iran and settled in India in the 10th century and have since played an outsized role in the evolution of India’s economy as pioneers of trade and industry. For centuries, prominent Parsis […]
The low-for-long era is over. Central banks, fiscal activism and populism pricked the bond bubble in 2016. Next year will be a lot worse for bond investors, and the aftershocks of the burst will spread across many other assets. Since the crisis, investors have been buying bonds for capital gains and equities for yield, trusting in the holding hand of easy monetary policy. However, today the central […]
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 […]
Toshiba warned the market that it could book an impairment loss of “several billion dollars” at its troubled US nuclear division and reconsider its presence in that industry as accounting issues returned to blight one of Japan’s biggest industrial names. With Toshiba’s financial position becoming more clouded by the announcement, its chief executive, Satoshi Tsunakawa, told a press conference on Tuesday night in Tokyo that the company […]
Saudi Arabia expects oil revenue to jump by 46 percent next year following the deal between the kingdom and other producers to curb output and drive up global prices. The world’s top oil exporter expects to collect SR480 billion ($128bn) from oil sales in 2017, compared with SR329 billion ($87.67 billion) this year, the finance ministry said in a budget statement last week. Non-oil revenue will climb […]
In 2016 it was all about Panamagate. But by retaining Konrad Mizzi in his executive and Keith Schembri besides him in Castille, Prime Minister Joseph Muscat stubbornly failed to recognise the extent of the public outrage at these revelations Jurgen Balzan 27 December 2016, 7:20am Joseph Muscat stood by his men and by his own admission, he evidently considers himself unable to complete the energy plans without […]
