Ocado shares have surged more than 40 percent after the U.K.-based online retailer signed an exclusive deal to provide its grocery delivery service to U.S. retailer Kroger. Kroger, which had sales of $122 billion in its last fiscal year, will take a 5 percent stake in the British online delivery firm as part of the […]
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Maersk shares sink as first quarter profit disappoints, warns on trade risks
A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world’s biggest container shipper sharply lower. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the […]
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FEW banks can match the quaint serenity of Banco Delta Asia’s headquarters in Macau. Housed in a pastel-yellow colonial building opposite a 16th-century church, its entrance is flanked by tall vases, depicting sampan gliding between karst hills. In the tiled square outside, men laze under a banyan tree and an elderly woman peels a boiled […]
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Merkel says the EU is now ready to discuss cutting trade tariffs with Trump — but with some caveats
Germany’s Chancellor Angela Merkel has signaled that the European Union is willing to discuss reducing trade tariffs with the U.S., but only if the measures are reciprocal. Merkel also added that those discussions would only happen if the U.S. ensured the EU was permanently exempted from import tariffs on metals that President Donald Trump announced […]
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European markets seen mixed amid political risk; US-China trade talks to resume
European markets are set to open mixed Thursday morning, as investors continue to monitor corporate earnings and political risk. The FTSE 100 is seen down around 7 points at 7,727, the CAC is expected to open 8 points higher at 5,574 while the DAX is poised to start up 17 points at 13,006, according to […]
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Europe's new data privacy law will be worth the hassle, says Dutch prince
Complying with European data privacy laws that come into effect next week might be a costly hassle for companies in the short-term but that would mean they would be seen as more trustworthy, according to Prince Constantijn van Oranje of the Netherlands. To comply with the rules, companies will have to assess how they’re storing […]
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ON MAY 11TH a Nigerian woman filed a lawsuit against United Airlines for removing her and her two children from a flight after a fellow passenger complained of her smell. Queen Obioma accuses the airline of singling her out “because of her black race and Nigerian citizenship”. The incident took place two years ago on […]
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“YOU only have one vote so use it wisely,” advised the captain of a lunchtime AirAsia flight from Singapore to Kuala Lumpur on May 9th. It was the third time he had reminded passengers of Malaysia’s election that day. Travellers delighted by the personal touch shook his hand as they disembarked. The pilot was not […]
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US/German bond yield spreads last hit these levels almost 30 years ago
The spread between the 2-year yield on U.S. and German bonds has hit its widest level since March 1989. At one point Wednesday, the spread reached 314 points. The last time that number happened, the Berlin Wall was still in place and Madonna’s “Like a Prayer” ruled the airwaves. Robust data in the United States […]
Read moreTurkey’s President Recep Erdogan and Israeli Prime Minister Benjamin Netanyahu went at each other’s necks via Twitter, accusing each other of brutality and human rights abuses. The spat on Tuesday went down in the wake of violence on the Israeli-Gaza border on Monday during which Israeli forces killed at least 60 Palestinian protesters, coinciding with […]
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