Oil and gas giant Royal Dutch Shell has delivered far more cash from its downstream business than its upstream recently, Downstream Director John Abbott told CNBC on Wednesday, with the firm positioned to use the extra funds to pay off debt and maintain its dividends. “I have seen times in my 36 years in Shell […]
Read moreWe might be in for a big surprise when it comes to second quarter earnings. It’s early — only two dozen companies (about 5 percent of the S&P 500) have posted earnings for the period, but the results from the early reporters like Nike, Oracle and Darden have been surprisingly strong. Profits from those 23 […]
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Germany is admired for a stable economy and holding on to blue-collar jobs but derided for its persistent trade surpluses. Our economics editor John O’Sullivan examines what Chancellor Merkel’s government might do next. Also, how “total immersion” could drive the masses to virtual reality. And why banks are de-risking to avoid penalties. Hosted by Simon […]
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BNP PARIBAS, France’s biggest bank, pleaded guilty in America three years ago to assisting a monstrous regime in east Africa. In 2006, it had helped to finance Sudan’s government, which in turn supported militias that massacred tens of thousands of civilians in Darfur. The firm thereby abetted in genocide and circumvented American sanctions on Sudan. […]
Read moreCurrency, United States Finance
German banks pose a threat that politicians want to hide, economist says
With the Italian banking system in the spotlight, analysts have highlighted that Germany’s lenders are still not out of the woods, saying shipping loans and too many bank branches are some of the very real problems they are currently facing. German officials repeatedly tell EU members from the south of Europe to restructure their banking […]
Read moreCurrency, United States Finance
Trials linked to downing of passenger flight MH17 to be held in Netherlands
Suspects in the 2014 downing of passenger flight MH17 in eastern Ukraine will be tried in Dutch court and under Dutch law, the Netherlands’ foreign ministry said on Wednesday. The decision follows attempts, blocked by Russia in 2015, to set up an international court over the incident, which killed all 298 people aboard the Malaysia […]
Read moreCurrency, United States Finance
Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion
The Italian state has stepped in with funding to save yet another failing bank, meaning taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector. Finance Minister Pier Carlo Padoan announced late Tuesday that the government had received approval from the European Commission to pump 5.4 […]
Read moreSex robots will be unlikely to prevent sex crimes like rape and pedophilia and could actually “reinforce illicit sexual practices”, a new report by robotics experts suggests. The paper, called “Our Sexual Future With Robots” by the non-profit Responsible Robotics, addresses a wide range of topics related to sex robots. One section focuses on the […]
Read moreThe U.S. may need to re-think its current North Korea strategy of asking China to step up efforts to rein in an increasingly-aggressive Pyongyang as it attempts to become a nuclear power, experts said on Wednesday. That followed another missile launch by the North on Tuesday, which the U.S. confirmed to be an intercontinental ballistic […]
Read moreEven as Singapore faces brighter economic prospects this year, one sector could remain a sticking point for the export-reliant country. Citi pointed the finger at oil and gas in a research note published on Tuesday. The Southeast Asian city-state is home to the world’s largest offshore rig builders, Keppel Corporation and Sembcorp Marine, who had […]
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