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LSE scuppers DB merger hopes
LONDON/FRANKFURT: The London Stock Exchange has all but ended a planned merger with Deutsche Boerse (DB) to create Europe’s biggest stock exchange by ruling out a European antitrust demand, saying it has strong prospects alone. In a bid to create a European trading powerhouse that would better compete against US rivals making inroads on their home turf, the two exchanges struck a 29 billion euro ($30.1 billion) deal just over
Chinese developers delay new home sales
HONG KONG: Some Chinese developers are playing a game of cat-and-mouse with local governments by delaying the launch of new home sales in the hope of riding out tightening measures in the property market that have dampened prices in some major cities. They hope that when authorities start to relax some restrictions, buyers will clamour to buy new homes and they can release more supply at higher prices. Official data last week
SoftBank nears deal to invest $3 billion in US startup WeWork
TOKYO/HONG KONG: Japan’s SoftBank Group Corp is close to making an investment in US office-sharing startup WeWork expected to be worth over $3 billion, CNBC reported on Monday, as it expands its reach beyond tech and telecoms. Led by founder Masayashi Son, SoftBank has made a string of surprising acquisitions and investments over the past months, most recently an all-cash deal to buy asset manager Fortress Investment Group.
Spanish consumer prices at four-year peak in February
MADRID: Spanish inflation stood well above the European Central Bank’s price stability target in February for the second month running, underpinned by the effect of higher energy prices which government officials believe will fade. Consumer prices in Spain, when harmonised for comparison with the European Union, rose 3 per cent year-on-year in February, preliminary data from the National Statistics’ Institute (INE) showed.
Sterling hits lowest in a week as Brexit jitters return
LONDON: Sterling fell broadly against major currencies on Monday, as the prospect of another Scottish independence vote and signs a major merger was unlikely to go through renewed fears about Britain’s future as it prepares to leave the European Union. A report in the Times newspaper said British prime minister Theresa May is preparing for Scotland to call a fresh independence referendum in March. The Telegraph newspaper
Huawei seeks to exploit Samsung gap with new smartphone
BARCELONA: Huawei is introducing a mass-market version of its premium business phone, to take advantage of a gap created by the withdrawal of Samsung’s flagship Galaxy Note 7 after a crisis with its batteries catching fire. Huawei has aggressively expanded its mid- to high-end phones and is going head to head in Asia and Europe with Apple and Samsung in the premium phone market. Huawei’s new P10 line is expected to be cheaper
Reasonable time a must to discuss finances
PITTSBURGH: On the day that financial advisers at PNC Wealth Management were set to meet with a married couple to discuss their account, the husband — who had been making a lot of withdrawals — showed up early and asked for a favor. He wanted the advisers to tell his wife that the account had lost value over the past year due to market conditions. She didn’t know about the withdrawals he had made. “It happened about 15 years
Sharjah Police arrest driver performing chancy stunts on a lark
SHARJAH: Sharjah Police arrested a young reckless motorist, following ..
Added : 3 hours ago
VP tours food and hospitality trade show
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Dubai students can request for rainy day offs
DUBAI: Dubai, known for its innovative ideas and out of the box thinki..
Added : 5 hours ago
'It must be love:' wife-beating a source of pride for some in Mauritania
NOUAKCHOTT: Salimata was always told she should be proud to come from ..
Added : 5 hours ago
8-year-old Obaida killer must be executed: High Court
DUBAI: A man who kidnapped an eight-year-old compatriot boy (Obaida Al..
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ERC provides urgent aid to residents of Yakhtal after its liberation
AL MOKHA: Emirates Red Crescent, ERC, team in Yemen have offered urgen..
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Dubai Municipality teams drain out rainwater in record time
DUBAI: Dubai Municipality deployed 5,000 workers, 48 tanks and 95 suct..
Added : 7 hours ago
'Moonlight' takes best picture Oscar after stunning mix-up
HOLLYWOOD: Coming-of-age drama "Moonlight" won the best picture Oscar ..
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Nokia relaunches iconic 3310 mobile model
BARCELONA: Finnish brand Nokia, a former mobile star, on Sunday launch..
Added : 7 hours ago
Over 57,000 federal employees update their payroll system data
ABU DHABI: A total of 57,915 federal government employees currently ha..
Added : 5 hours ago
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