[unable to retrieve full-text content] ALMOST to the day 17 years ago Steve Ballmer, then boss of Microsoft, the world’s biggest software firm, called Linux a “cancer”, meaning that the open-source operating system would spell the death of proprietary software. On June 4th, his successor, Satya Nadella, announced that the firm would take over GitHub, […]
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THE glitzy Gulf states take pride in superlatives. They have the world’s tallest building, the biggest shopping mall, even (for a time) the most expensive cocktail. To that list, add a slightly less glamorous entry: what a judge has called one of the largest Ponzi schemes in history. On June 1st a court in the […]
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Ukraine’s parliament on Thursday successfully voted to establish an anti-corruption court, a key requirement of unlocking a $17.5 billion International Monetary Fund (IMF) relief package designed to bolster the country’s struggling economy. But the international lender has yet to greenlight the funds, as it remains to be seen whether the law for the anti-corruption court […]
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Berkshire Hathaway chairman Warren Buffett and J.P. Morgan Chase chief executive Jamie Dimon told CNBC the U.S. economy is in rare form and could continue to prove strong for years to come. In an exclusive joint interview with CNBC’s Becky Quick, Dimon and Buffett cited several aspects of the economy as reasons for optimism. “Right […]
Read moreCooler heads will prevail despite the steady ramp-up of rhetoric on trade tariffs, the founder of New York-based consultancy High Frequency Economics believes. Finance ministers of the world’s wealthiest nations will meet at the G-7 summit Friday in Quebec, and it is likely to be rife with awkwardness. In addition to the U.S., the G-7, […]
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There’s a standoff emerging between the European Union and the new Italian government, one which will ultimately answer the question whether Italy is too big to fail, a strategist told CNBC Thursday. The new populist cabinet in Rome is set to cut taxes and increase public spending. This decision will challenge European fiscal rules and […]
Read moreBefore President Donald Trump sits down with a third-generation North Korean autocrat, he will face what may well turn out to be a tougher crowd — some of America’s oldest allies. With his new tariffs increasing U.S. isolation, Trump heads to Canada on Friday for a meeting of the Group of Seven industrialized nations. The […]
Read moreBritish stocks failed to open on Thursday, with a spokesperson from exchange operator LSE saying that the opening auction had been delayed. Trading in the FTSE 100, mid caps and small caps was delayed. The London Stock Exchange will update the market as soon as possible, its spokesperson added. Source: cnbc Britain's FTSE fails to […]
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A fear of mutual destruction should stop global powers from attacking each other and prompting World War III, Russian President Vladimir Putin said Thursday during a public phone-in. “The realization that a third world war could be the end of civilization, that should restrain us from dangerous steps globally,” Putin said during his annual question […]
Read moreEuropean markets are set to open in the green on Thursday, boosted by a rally in U.S. stocks on Wednesday and as new governments get to work in Italy and Spain. Italy’s FTSE MIB leads the gains, seen 153 points higher at 21,949. The German DAX is anticipated to open 60 points higher at 12,897. […]
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