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Business

The exponential growth of Middle Eastern airlines like Emirates and Turkish Airlines has hit both Air France-KLM and Lufthansa with the use of new planes and selling tickets at lower prices, effectively stealing a share of the market from hubs in Europe and diverting them to Dubai and Istanbul instead.
  • Trump Hotels Ditching Name For New Hotels

    Trump Hotels Ditching Name For New Hotels

    Business

    Instead, it will be called " Scion " - a name that ostensibly means "descendant of a notable family", but in reality is so banal and uninspired it will likely either call absolutely nothing to mind, or those weird looking square cars from the early 2000s that are called the same fucking thing.
  • Theresa May's options for Heathrow expansion decision

    Business

    May took the rare step of promising colleagues who oppose the decision that they would be allowed to publicly air their views for "a certain period", in a break with normal procedure that ministers must support a government decision. He added that pollution studies had not taken into account further mitigation measures put in place by Heathrow that would counter the pollution impact from auto traffic created by millions more passengers using an expanded airport.
  • NFL puts Giants' Brown on 'exempt' list pending abuse probe

    Business

    Your placement on Commissioner Exempt does not represent a finding that you have violated the Personal Conduct Policy. Brown will still collect his $1.15 million salary and has the option to appeal the decision. Brown did not travel with the team to London for Sunday's game against the Los Angeles Rams. New York Giants kicker Josh Brown has been placed on the commissioner's exempt list after he admitted to domestic abuse against his ex-wife, Molly Brown .
  • An IoT botnet is partly behind Friday's massive DDOS attack

    Business

    Sites including coder hangout Github said they briefly experienced problems, although it was not immediately clear whether the issues were linked to the cyberattack. The Federal Bureau of Investigation and the Department of Homeland Security are investigating the attack to determine its roots, including the possibility that a nation-state attack could be to blame.
  • All New Cars Now Have Full Self-Driving Technology, Says Tesla

    Business

    So perhaps it's best you wait until Tesla has fully completed its tests, just in case. "It's basically a supercomputer in vehicle", Musk said. Tesla has said it will be further testing the capabilities and safety of the new hardware over "millions of miles of real-world driving".
  • Oil price surges briefly, loonie and S&P/TSX composite index higher

    Business

    An official inventory number will be reported by the U.S. Energy Information Administration on Wednesday which will confirm the reported decline which can possibly send the price even higher . Saudi Arabia's crude oil exports in August fell to 7.305 million barrels per day (MMbbl/d) from 7.622 MMbbl/d in July as the world's largest oil exporter pumped less, the kingdom has told an influential data base.
  • AMD Revenue Beats on Demand for Chips Used in Gaming Consoles

    Business

    The company's revenue for the quarter was up 23.2% on a year-over-year basis. (NASDAQ:AMD) traded a volume of 7.29 million shares as compared to an average volume of 38.41 million shares. 07/25/2016 - Advanced Micro Devices , Inc. had its "hold" rating reiterated by analysts at JP Morgan. For the most recent quarter, 15 analysts weighing in on Noble Energy Inc.
  • Musk: Starting now, all Teslas will have self-driving hardware

    Business

    Eight surround cameras provide 360 degrees of visibility around the auto at up to 250 meters of range. The system will have twelve ultrasonic sensors to complement the cameras and detect both hard and soft objects. The CEO said he hopes to demonstrate the technology with a cross-country drive next year, a stunt similar to what Delphi Automotive (DLPH) accomplished in 2015 .
  • French court upholds decision to close Calais'

    French court upholds decision to close Calais' "Jungle" migrant camp

    Business

    A Home Office spokesperson said there would be no announcement about the quantity of children expected to be transferred to Britain until the process was complete. Under the 2016 Dublin Regulation, the children handpicked for resettlement must have family ties in the United Kingdom and all will be subjected to "safety checks", feasibly having to be held in custody for 72 hours before meeting relatives.
  • Netflix subscriptions boom around world, shares jump 20 percent

    Netflix subscriptions boom around world, shares jump 20 percent

    Business

    The streaming video company chalked up its better-than-expected performance to "excitement around Netflix original content". For the third quarter, Netflix reported earnings of 12 cents, and profit of $52 million, blasting past the consensus of 5 cents and $22.3 million from analysts polled by S&P Global Intelligence.
  • Trump Taj Mahal Closes Its Doors

    Business

    Many of them have been picketing since going on strike in July. "When (Taj Mahal) opened in 1990, it became nearly the iconic building in Atlantic City, and for it to close down is a big, black mark on the city", said James Karmel, author of "Gambling on the American Dream: Atlantic City and the Casino Era".
  • China sends a chill through world markets

    China sends a chill through world markets

    Business

    Dow futures fell 0.6 percent while S&P futures also dropped 0.6 percent. Futures indicated that Wall Street was set for a weak start. Sydney fell 0.8 percent, Seoul shed 0.6 percent and Singapore was 0.7 percent lower. Wells Fargo shares rose 1.26 percent after Chief Executive John Stumpf abruptly departed on Wednesday following a sales scandal that damaged the reputation of the once most valuable bank in the world.
  • Thailand's King Bhumibol Adulyadej, World's Longest-Reigning Monarch, Has Died

    Thailand's King Bhumibol Adulyadej, World's Longest-Reigning Monarch, Has Died

    Business

    He was born on December 5, 1927, in the USA state of MA, and was the world's longest-serving head of state and the longest reigning monarch in Thai history. The government announced a 100-day mourning period and a 30-day moratorium on state events. Elections were promised by the junta to end of 2017, but with the death of the King, "the return to democracy could be postponed", said the American specialist of the Thai army Paul Chambers.
  • Thailand's king, world's longest-reigning monarch, dies

    Thailand's king, world's longest-reigning monarch, dies

    Business

    Thailand's King Bhumibol Adulyadej, the world's longest-reigning monarch who was seen as head of an institution central to Thai identity and as a father-figure to the nation, died in hospital on Thursday, the palace announced. The vast majority of Thais have lived only under Bhumibol. It's like we lost the main pillar of our lives, the person who holds us together. King Bhumibol himself said in a 2005 speech that he was open to criticism and those jailed for offending him should be released, ...
  • Oil prices fall on higher OPEC output

    Oil prices fall on higher OPEC output

    Business

    The US Energy Information Administration (EIA) said crude oil inventories rose by 4.9 million barrels stateside to a total of 474 million barrels in the week through to 7 October, beating a Reuters analysts' poll predicting a rise by 300,000 barrels by a considerable distance.
  • IIP remains in negative zone; contracts 0.7 pc in August

    IIP remains in negative zone; contracts 0.7 pc in August

    Business

    Sectoral growth also fell, with output in capital goods falling a massive 22.2%. Along with the Quick Estimates of IIP for the month of August 2016, the indices for July 2016 have undergone the first revision and those for May 2016 have undergone the final revision in the light of the updated data received from the source agencies.
  • Wall Street is more sane than Twitter stock traders: Gadfly

    Wall Street is more sane than Twitter stock traders: Gadfly

    Business

    A Twitter spokeswoman declined to comment. The prospect that Twitter will need to go it alone is weighing heavily on its stock , which had shot up about 33% through last Wednesday following news in late September of possible talks. Williams said the board had a duty to consider options including a sale. Citing sources, Bloomberg also reported that Twitter had cancelled a board meeting with external advisers to discuss a potential sale on Friday.
  • Snapchat said to eye IPO with at least US$25 bln valuation

    Snapchat said to eye IPO with at least US$25 bln valuation

    Business

    Snap Inc .is the parent company of Snapchat, which burst into the scene five years ago to surprising success. The research predicts that the playful messaging app will generate $366.69 million in ad revenues this year . "When you do that, the markets have recognized this is real and there's real value", Unterman said. A spokesman for Snap said: "We aren't commenting on rumours or speculation about our financing plans".
  • Trump says illegal immigration used to rig vote

    Trump says illegal immigration used to rig vote

    Business

    The Republican presidential candidate made the remarks during a meeting in his Trump Tower offices in NY with five members of the National Border Patrol Council, a union representing police officers guarding the border with Mexico. Citizenship and Immigration Services told the New York Times that the agency had "anticipated that there would be a spike in applications this year, but the increase has exceeded expectations".
  • Mall of America to close on Thanksgiving

    Mall of America to close on Thanksgiving

    Business

    Mall officials told The Associated Press it wants to offer workers time with their families on the holiday. The nation's biggest mall will not be open on Thanksgiving this year. Mall officials added that some restaurants, stores and attractions may choose to be open during the holiday. If all stores at the mall choose to close, almost 13,000 employees will get to spend Thanksgiving at home.
  • Stocks open slightly lower on Wall Street

    Stocks open slightly lower on Wall Street

    Business

    The Dow Jones industrial average fell 54.30 points, or 0.3%, to 18,253.85. "Oil prices hit US$ 50, bond yields hit 1.7% highest in last 6 months & US$ hit 96.17 new 3 month highs as probability of Fed rate hike in United States grew to 72%.This in turn saw commodities rise with emerging market indices also rising in tandem & the Brazilian 'Ibovespa" hitting new 52 week highs.
  • IMF officials downplay risk of imminent Deutsche Bank crisis

    Business

    International Monetary Fund officials speaking on condition of anonymity said that while the institution was concerned about Deutsche's situation, they did not want to trigger further market disruptions with specific criticisms. Banks in Europe are still choked with some 900 billion euros in bad debt ($1.01 trillion) left over from the last financial crisis, Dattels said, adding that many banks have too many branches collecting too few deposits, with costs far above those of United States ...
  • Storylines to Watch During the VP Debate

    Business

    About one in four voters don't have either a favorable or unfavorable view of each of them. The vice presidential debate comes roughly a week after Donald Trump and Hillary Clinton faced each other for the first time on the same stage.
  • Two Harbors Investments Corp (NYSE:TWO), Prospect Capital Corporation (NASDAQ:PSEC)

    Business

    The forecast of 4 polled investment analysts covering the stock advises investors to Buy stake in the company. The Company holds 241.69 million shares outstanding. For the current year Noble Corporation Ordinary Shares (UK) (NYSE:NE) has set to release EPS of $-0.06 as per the sentiments of 30 analysts, however according to 36 analysts, the company expected to release $-1.15 EPS for next year.
  • Retail Trade Groups Forecast Strong Holiday Spending

    Retail Trade Groups Forecast Strong Holiday Spending

    Business

    Americans are expected to spend at a faster clip than a year ago for the critical holiday season, helped by an economy that should only continue to pick up, according to the nation's largest retail industry trade group. It's a key industry barometer for retailers who depend on the last two months of the year. The great news for online retailers is that all non-store sales are estimated to jump 7% this year.
  • Markets mixed; Deutsche Bank under traders' microscope

    Business

    USA stocks fell on Tuesday as investors fretted about Britain's exit from the European Union and the prospect of a Federal Reserve interest rate hike in coming months. PHOTO/FILE The American flag flies above the Wall Street entrance to the New York Stock Exchange. Sluggish auto sales (http://www.marketwatch.com/story/us-auto-sales-slow-after-years-of-steady-growth-2016-10-03- 10485211) also weighed on sentiment.
  • Facebook Marketplace :Now buy and sell stuff

    Facebook Marketplace :Now buy and sell stuff

    Business

    Now the social network is already used by 450 million people to sell or buy stuff, according to Facebook . The social network inched ever closer to world domination Monday with its unveiling of Facebook Marketplace , a sexier-looking Craigslist that facilitates the buying and selling of trash and treasure with the tap of a new icon.
  • European markets rise as UK stocks benefit from pound drop

    European markets rise as UK stocks benefit from pound drop

    Business

    According to press reports, the funds cut their ties with Deutsche Bank after United States authorities demanded a fine of up to $14 billion (£10.8 billion, €12.4 billion) for mis-selling mortgage-backed securities before the 2008 financial crisis, which would threaten its future.
  • Trump steps up attacks on ex-Miss Universe

    Trump steps up attacks on ex-Miss Universe

    Business

    Former House Speaker Newt Gingrich was the keynote speaker on Wednesday at the annual conference of the Log Cabin Republicans, where he joined his fellow overweight conservative Donald Trump in throwing stones from a glass house concerning former Miss Universe Alicia Machado.
  • Markets Right Now: Stocks move lower on Wall Street

    Markets Right Now: Stocks move lower on Wall Street

    Business

    Consumer stocks led the gains in early trading Friday, the last day of the third quarter. The Nasdaq composite was down 15 points, or 0.3 percent, at 5,290. The Dow Jones industrial average slipped 34 points, or 0.2 percent, to 18,304. Nasdaq 100 e-minis NQc1 were down 0.75 points, or 0.02 percent, on volume of 37,559 contracts.
  • Wells Fargo to scrap controversial sales goals October 1

    Wells Fargo to scrap controversial sales goals October 1

    Business

    Unlike his appearance before a Senate committee last week, during which Stumpf was eviscerated by politicians looking to score political points off of the financial equivalent of the Washington Generals, the House Financial Services Committee will now have to contend with Wells tactic of sending in Stumpf monetarily shamed tomorrow morning.
  • Singapore social music company BandLab buys stake in Rolling Stone

    Business

    BandLab has a history of music-centered acquisitions during the last years. It's the first time Jann Wenner, the co-founder of the mag, has invited outside investors. Together, Mr Kuok and the younger Mr Wenner, who is 26, will set the pace at Rolling Stone for the next 50 years and beyond. "Kuok's broader business interests and profound love of music fundamentally align with Rolling Stone ", said the release.
  • Monarch Airlines denies it is about to go bust

    Monarch Airlines denies it is about to go bust

    Business

    Despite the difficulties, Monarch said it was on track to post core earnings (EBITDA) of more than 40 million pounds ($52 million) in the year ended October 31, in line with a forecast given last year. Earlier this weekend, Twitter users questioned the positioning of several B747-400s to various leisure destinations around Spain, all of which bore a remarkable resemblance to Monarch's own network.
  • Drugmaker Pfizer decides not to break up business

    Drugmaker Pfizer decides not to break up business

    Business

    The company said it will more fully allocate indirect expenses for each of the two business by including estimates of the dollar value of these expenses, starting with quarterly financials for Q1 2017. Pfizer said Monday that a split would not help the competitive positioning of its businesses, and such a move would create disruptions and increased costs.
  • Bill Clinton delivers emotional defense of charitable work

    Business

    Bill Clinton on Tuesday dismissed concerns about her acting as a conduit for donors seeking influence in a new Clinton administration as "bull". Some of it went to a unit of the Clinton Foundation in Haiti and some to a charity recruited for the project that works with the Clinton Foundation in Haiti, records and interviews show.
  • 1 killed in Baltimore area search for bank robbers

    Business

    An Essex man who was hospitalized following a weekend fight with Baltimore County Police that turned physical, has died, police said. They say he ran to several police cars, trying to get inside, and also banged on neighbors' doors. "He [was] on the ground, 5 other officers on top of him, and not only that, one police officer got his arm around his neck like this, punching him, punching, him and throughout the whole thing he's like I can't breathe, I can't breathe", she told the local news.
  • Tesla sues MI, challenges law requiring dealer sales

    Tesla sues MI, challenges law requiring dealer sales

    Business

    Tesla Motors Inc. filed suit Thursday after MI denied it a license to open a store to sell directly to customers, saying a state law violates its constitutional rights and protects hometown rivals such as General Motors Co. The automaker has said 373,000 customers have paid to reserve Model 3 cars. "For consumers, new-car franchises create intra-brand competition that lowers prices; generate extra accountability for consumers in warranty and safety recall situations; and provide enormous ...
  • Futures rise after Fed leaves interest rates unchanged

    Business

    MSCI's all-country world stock index was up 1.3%, while Europe's STOXX 600 was up 1.8%. Three out of 10 of its rate-setters voted against the decision, and called for an immediate increase. Russian Federation plans to sell an additional $1.25 billion of Eurobonds, tapping a May 2026 issue one day after the Fed's announcement. It also reduced its longer-run interest rate forecast to 2.9% from 3%.
  • Nasdaq Hits Record High as Fed Takes Pause on Rates Again

    Business

    She explained that despite solid job growth, the unemployment rate has been stuck at 4.9% because discouraged workers on the sidelines have been drawn into an improving labor market. The Fed issued its quarterly economic forecasts and for the first time included projections for 2019. That would bring the benchmark rate to 0.6% at the end of 2016, down from their previous forecast of 0.9%.