Earnings season begins unofficially Friday. Here’s what to look for: The stock market is holding up because the global economy is improving and earnings are improving. The market turned around in the second quarter of 2016, which is when the earnings recession came to an end, after earnings declined for five straight quarters. The turnaround […]
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UK's easyJet sets up new airline in Austria to protect flights post Brexit
British budget airline easyJet said on Friday it would establish a new airline in Austria to protect its flying rights in the European Union once Britain leaves the bloc. The new airline, easyJet Europe, will be headquartered in Vienna. The budget airline must have a licence and an air operator’s certificate (AOC) in an EU […]
Read moreSingapore’s Global Logistic Properties (GLP) agreed to be acquired by a Chinese private equity consortium backed by senior GLP executives for about S$16 billion ($11.6 billion), choosing it over a rival bid in Asia’s largest private equity buyout. The seven-month auction for Asia’s biggest warehouse operator was marred by complaints from some potential bidders about […]
Read moreThe manufacturing arm of a British luxury smartphone maker is to be wound down after a failed buyout bid in the U.K. High Court, according to multiple media reports. Vertu Corporation Limited (VCL) made products for the super-rich that came with hefty price tags. Some Vertu models boasted state of the art technology, superior craftsmanship […]
Read moreManila appears to be testing its relationship with Beijing as Philippine President Rodrigo Duterte considers resuming energy exploration in the tension-laden South China Sea. Oil and gas drilling in the Reed Bank, located in the international waterway, has been suspended since 2014. That came after Manila launched an international arbitration case against Beijing over the […]
Read moreIran has piqued financial interest throughout the world for its massive energy reserves, but the country actually has a host of other opportunities in less obvious areas, according to one global investor. For Clemente Cappello, CIO of London-based Sturgeon Capital, Iran holds promise in part for its cheap labor, abundance of natural resources, and well-educated […]
Read moreThree attackers opened fire near Jerusalem’s holiest site on Friday, wounding three Israelis, two of them critically, before they were killed, Israeli police said. Army Radio said the shooting took place near the sacred site known to Muslims as Noble Sanctuary and to Jews as Temple Mount. Police said the three attackers were killed by […]
Read moreInfosys, India‘s second-biggest software services exporter, reported a 1.4 percent increase in first-quarter profit on Friday, slightly beating street estimates, helped by key client wins. Bengaluru-headquartered Infosys posted a consolidated net profit of 34.83 billion rupees ($540 million) for the three months ending June 30, compared to 34.36 billion rupees in the same quarter last […]
Read moreAs the 11 remaining Trans-Pacific Partnership countries continue talks without Washington this week, certain member states now need convincing to stay on board with the massive trade deal. No longer the world’s largest trade pact after President Donald Trump’s decision to withdraw the U.S. earlier this year, the TPP remains alive — for now. Its […]
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Russian central banker praises 'normal' interest rates — and gives her outlook for oil prices
The head of Russia’s central bank applauded the U.S. Federal Reserve’s moves toward higher, more historically “normal” interest rates, and called on other central banks to follow suit. At the same time, Elvira Nabiullina, governor of the Central Bank of Russia, underscored on Thursday that Russia will continue to ease its own rates. Russian interest […]
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