Tiffany & Co (TIF.N) reported fourth-quarter profit ahead of analysts’ estimates as it sold more jewelry in Japan and China, sending shares to a 19-month high in morning trading on Friday. Sales in Japan were bolstered by the brand exposure Tiffany got through a popular television show last year and a strong yen helped boost spending by Japanese tourists in other regions, Tiffany’s Chairman and interim Chief […]
Friday 13:30 GMT What you need to know ● Dollar index nudges up after hitting five-week low● Short term US bond yields inch higher● Global stocks at record as Wall St gains ground● Oil prices firmer after volatile week● Gold advances towards $1,230 an ounce——————- Hot topic Has the buck bounce run its course? The dollar index (DXY) — a measure of the greenback against a basket […]
The rise of algo trading and passive investing is bringing new patterns and pitfalls Source link
William “Billy” Walters’ stomach for taking risky bets and reading “tells” of opponents made him one of the most successful sports gamblers of all time. It is the same strategy he used to invest in the stock market, his lawyer told a jury as opening statements began in his $40m insider trading trial. Prosecutors have accused Mr Walters of making over $30m in profits and avoiding $10m […]
Agricultural traders and investors are watching the debut of a new derivative product that will allow them to bet on the benchmark price of Black Sea wheat. Wheat is the largest traded grain on the international markets and Russia became the leading exporter last year. Russia, Kazakhstan and Ukraine — collectively known as the Black Sea region among grain traders — accounted for just under a third […]
It is fitting that just a few hours until the Fed’s second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the […]
Shares in Cathay Pacific fell as much as 6.9 per cent on Wednesday after the Hong Kong flag carrier swung to its first annual loss since 2008. The airline reported a net loss of HK$575m ($74m) for 2016 in the face of increased competition from mainland Chinese airlines and falling demand for its premium class seats. The net loss compares with a HK$6bn profit reported in 2015, […]
China plans to introduce a bond trading link between Hong Kong and the mainland by year-end, according to premier Li Keqiang. Dubbed “Bond Connect”, the programme would operate alongside the existing Stock Connect system that allows international and mainland investors their only direct access to each others’ markets. On Wednesday, the Chinese premier said: “We are preparing to implement for the first time this year a bond […]
Toyota Motor Corp signed a memorandum of understanding (MOU) on Tuesday with a Saudi Arabian government agency to conduct a feasibility study into producing vehicles and parts in the Middle Eastern nation. The move, if firmed up, would be a big step for the Saudi economy as the government tries to diversify beyond oil exports and create jobs as part of the kingdom’s 2030 Vision. So far, […]
Tuesday 15:10 GMT What you need to know ● Pound under pressure amid Brexit and Scottish secession worries● Sterling drops below $1.22 and euro edges up towards 88p● S&P 500 down 0.5 per cent as sliding oil hits energy stocks● Treasury yields little changed ahead of Fed decision——————- Hot topic The UK pound is back under pressure as traders become concerned that Edinburgh’s demand for a another […]
MOGADISHU // Pirates have hijacked an oil tanker off the coast of Somalia, officials and a piracy expert said on Tuesday. It is the first hijacking of a large commercial vessel there since 2012. The Aris 13 on Monday reported being approached by two skiffs, said John Steed from the organisation Oceans Beyond Piracy. Mr Steed said eight crew members were aboard the ship, which had been […]
The pound took a tumble on Tuesday after politicians paved the way for Article 50 to be triggered this month, leading analysts to warn that Brexit was still not priced in to the value of the UK currency. Sterling fell as much as 0.9 per cent in Tuesday morning trading to just above $1.21, its weakest level since Theresa May, prime minister, promised a parliamentary vote on […]
The San Francisco Department of Public Health has revealed that two people are critically ill and are now in the hospital after drinking toxic herbal tea that they bought at a Chinatown shop. The patients, a woman and a man, became ill within an hour of drinking tea made from leaves they bought from Sun Wing Wo Trading Co. The two individuals quickly experienced weakness, which was followed […]
Turkish president Recep Tayyip Erdogan has loomed over European politics for more than a decade, entangled in the awkward embrace of reluctant allies. This weekend he burst into the middle of a fraught electoral season. The Dutch were behaving like Nazis, the Germans too, he said, by banning his foreign minister from speaking at rallies in their countries and setting police dogs on Turks who protested the […]
Nervousness in the US stock market has climbed to the highest level since the aftermath of the presidential election, even as equities have charted a mostly smooth path to further all-time highs in recent weeks. Credit Suisse’s fear barometer rose at the end of last week to 35.6, an increase of almost 10 points from the previous week and the highest reading since November 9, the day […]
By Irene Preisinger | MUNICH, Germany MUNICH, Germany German Chancellor Angela Merkel underscored the importance of free trade in a speech to business leaders in Munich, before her first trip to meet U.S. President Donald Trump in Washington for talks on a range of issues, including defense spending. Merkel had been due to meet Trump for more than two hours on Tuesday, but her trip was postponed […]
Leonardo Maugeri of Harvard University, who in 2012 predicted a glut in oil supplies and a steep fall in prices, has warned that there is again a prospect that the market is heading for “a substantial fall”. Strong growth in global supply, he argues in a new paper, is outpacing the increase in demand, in spite of the production cuts agreed by Opec and 11 non-Opec countries […]
This Wednesday, Oct. 14, 2015, file photo, shows a Mobileye camera system that can be installed in your car to monitor speed limits and warn drivers of potential collisions, mounted behind the rearview mirror during a demonstration of the system, in Ann Arbor, Mich. Intel is buying Mobileye in a deal announced Monday, March 13, 2017, and valued at about $14.09 billion, the latest push by a […]
Abraaj Group Art Prize In October last year, Rana Begum won the US$100,000 (Dh367,250) Abraaj Group Art Prize. The title is awarded each year to aid an artist realise a proposed project, which is later unveiled at Art Dubai. Begum, a Bangladeshi-born, London-raised artist, is interested in the geometry of a city. Her brightly coloured, angular metal sculptures and installations look at the unexpected architecture of a […]
Stock photo The price of Bitcoin plummeted after the US Securities and Exchange Commission (SEC) denied a request to bring Bitcoin to the financial market, highlighting how the value of the virtual currency can change within minutes. In February, the virtual currency’s value reached an all-time high of over $1,300 with investors taking a punt on rumors SEC would allow the first Bitcoin ETF. An exchange-traded fund […]
Zain Group held its annual Ordinary General Assembly in a gathering that constituted a quorum of 66.79% and approved a cash dividend of 35 fils Vice-Chairman Bader Al Kharafi: “Investments in emerging technologies will diversify our revenue streams.” New Board of Directors elected for three years; Scott Gegenheimer given new role as CEO of Operations Advertisement Kuwait – 12 March, 2017 Zain Group, a leading mobile telecom […]
SEOUL Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude LCOc1 had fallen 35 cents, or 0.68 percent, to its lowest since Nov. 30 at $51.02 per barrel by 0231 GMT. It closed the previous session down 1.6 percent at $51.37. U.S. West Texas Intermediate crude (WTI) CLc1 […]
The Trump administration’s sweeping dismissal of dozens of US attorneys held over from the Obama administration leaves the president with sudden gaps in top law enforcement positions across the country. The swift dismissals which began with Friday phone calls from Dana Boente, the acting deputy attorney-general, to 46 US attorneys, now puts pressure on the Trump administration to select candidates who will pass congressional scrutiny to fill […]
Chinese leasing companies have taken ownership of hundreds of vessels in deals worth tens of billions of dollars in the latest sign of the industry’s rapid transformation amid a long-running financial crisis. The deals made by Chinese companies, including the leasing businesses of ICBC, China Minsheng Bank and Bank of Communications, have provided badly-needed financing for shipowners as miserable trading conditions dominate most shipping sectors. Although there […]
