RSSCategory: News

Does the size of the state hold back the economy?

Does the size of the state hold back the economy?

LATER this week, the British government will announce its latest spending review. Its aim will be to balance the budget by 2020. In part, this is because the Conservative party genuinely believes a smaller state is good for economic growth in the long run. But is there a hard-and-fast relationship? This is the kind of […]

November 23, 2015 | By | Reply More
NY authorities probing foreign exchange options market – source

NY authorities probing foreign exchange options market – source

NEW YORK: New York Attorney General Eric Schneiderman’s office is investigating the posting of false bids and offers in the foreign exchange options market for emerging market currencies, a person familiar with the matter said on Monday. The person, who spoke on condition of anonymity, said subpoenas were issued last week to four brokerages: TFS-ICAP, […]

November 23, 2015 | By | Reply More
Elliott Management takes 6.4 percent stake in 'undervalued' Alcoa

Elliott Management takes 6.4 percent stake in 'undervalued' Alcoa

REUTERS: Hedge fund Elliott Management Corp disclosed a 6.4 percent stake in “undervalued” Alcoa Inc on Monday, sending the aluminum producer’s shares up as much as 6.3 percent. Elliott, run by activist investor Paul Singer, sees opportunities for Alcoa to improve its profit margins, a source familiar with the matter told Reuters. “Elliott advised (Alcoa) […]

November 23, 2015 | By | Reply More
Demand for Bidadari BTO flats continues to rise

Demand for Bidadari BTO flats continues to rise

SINGAPORE: With applications due to close in less than four days, demand for new Housing and Development Board (HDB) flats at the upcoming Bidadari estate has continued to pick up. Over the weekend, there was a jump in applications, especially among second-time applicants. Analysts have said this could be due to the relatively higher price […]

November 23, 2015 | By | Reply More
Malaysia's struggling 1MDB sells power assets to Chinese firm for US$2.3 billion

Malaysia's struggling 1MDB sells power assets to Chinese firm for US$2.3 billion

KUALA LUMPUR: Malaysian state fund 1MDB has agreed to sell its energy business in a US$2.3 billion cash deal to China General Nuclear Power Corporation (CGN), as it seeks to cut its debt and restore investor confidence in the Southeast Asian country. An international probe into alleged graft at 1Malaysia Development Bhd (1MDB), along with […]

November 23, 2015 | By | Reply More
US existing home sales fall more than expected in October

US existing home sales fall more than expected in October

WASHINGTON: U.S. home resales fell more than expected in October, with large declines in regions which have experienced the biggest price gains, but the underlying trend suggested housing remained on firmer footing. The National Association of Realtors said on Monday existing home sales declined 3.4 per cent to an annual rate of 5.36 million units. […]

November 23, 2015 | By | Reply More
E.coli outbreak looks set to infect Chipotle's same-outlet sales

E.coli outbreak looks set to infect Chipotle's same-outlet sales

REUTERS: Chipotle Mexican Grill Inc’s fourth-quarter same-restaurant sales look set to decline for the first time since the burrito chain was spun off from McDonald’s Corp in 2006, following an E.coli outbreak in its restaurants. The company on Friday said the outbreak, initially limited to restaurants in Washington state and Oregon, had spread to four […]

November 23, 2015 | By | Reply More
Wall St. opens little changed

Wall St. opens little changed

REUTERS: U.S. stocks opened little changed on Monday, coming off last week’s strong gains, as gains in consumer staples offset losses in energy stocks. The Dow Jones industrial average rose 2.14 points, or 0.01 percent, to 17,825.95. The S&P 500 gained 0.2 points, or 0.01 percent, to 2,089.37 and the Nasdaq Composite index added 1.11 […]

November 23, 2015 | By | Reply More
Icahn says may propose new director to AIG board

Icahn says may propose new director to AIG board

REUTERS: Billionaire investor Carl Icahn said he may propose to add a new director to American International Group’s board, saying CEO Peter Hancock was unlikely to “sincerely consider” his suggestion to split the company into three. “We intend to commence shortly a consent solicitation that will enable shareholders to express their views directly to the […]

November 23, 2015 | By | Reply More
Malta’s Ministry of Energy and Health is new shareholder in New Silkroutes’ JV unit

Malta’s Ministry of Energy and Health is new shareholder in New Silkroutes’ JV unit

SINGAPORE: Singapore Exchange mainboard-listed New Silkroutes Group Limited on Monday (Nov 23) announced that Malta’s Ministry of Energy and Health has become its new shareholder in IEG Malta, a joint venture set up by the former’s subsidiary International Energy Group (IEG) and the Maltese government to transform Malta into an oil and gas trading hub […]

November 23, 2015 | By | Reply More