Economy

The Brexit Effect: HSBC Profits Fall 82%, More Sector Losses to Follow

The dramatic drop in the price of oil, which is down by half from its peak in the summer of 2014, has reduced the demand for loans and increased the level of debt defaults. The results fell on the same day as Bank of England Monetary Policy Committee member Gertjan Vlieghe told the House of Commons' Treasury Select Committee that "we are probably not going to forecast the next financial crisis - nor are we going to forecast the next recession". Read More

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Irish PM to respond to leadership questions as disquiet grows

Irish PM to respond to leadership questions as disquiet grows

He is refusing to role out that possibility. It's understood the issue was raised briefly at this morning's cabinet meeting. The Minister for Health is not ruling out a bid to become leader of Fine Gael. "The electoral process in Fine Gael takes some three weeks so a period around that would be appropriate". It will be the first time that the Taoiseach has met the two leading contenders to succeed him - Ministers Leo Varadkar and Simon Coveney - since they both publicly commented on his ... Read More

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Anglo American miner swings back into annual profit on price recovery

Anglo American miner swings back into annual profit on price recovery

Attendees stand in front of a promotional sign for the Anglo American Plc mining company at the 20th annual Investing in African Mining Indaba in Cape Town, South Africa, on February 10, 2015. "Macro-economic conditions underpinning consumer demand for diamonds remain broadly stable in aggregate, with the United States expected to continue to be the main driver of global growth in 2017", Cufitani added. Read More

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ANC moves top finance committee MP

ANC moves top finance committee MP

He is due to be sworn in as an MP ON Wednesday. The Hartbeespoort ANC branch told the Sunday Times that Molefe has never attended its meetings. Let us never forget that Brian Molefe went onto national television in an attempt to deceive the nation, claiming that he visited a non-existent shebeen in Saxonwold, when in fact he was so cosy with the Saxonwold Guptas that he was nearly part of the family. Read More

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Burger King and Tim Hortons Near Deal to Buy Popeyes

Popeyes has been a local favorite for 45 years, spreading coast to coast and around the world to boast 2,600 locations in the United States and 25 countries around the world. As Popeyes enters its 45 year, its success reflects the incredible brand entrusted to us by founder Al Copeland, Sr. and the unique high trust partnership that we enjoy with our franchise owners. Read More

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Alibaba's Ant Financial to invest US$200m in Korea's Kakao Pay

Alibaba's Ant Financial to invest US$200m in Korea's Kakao Pay

Kakao Pay users now can register their credit or debit cards with the service and conduct transactions via a passcode. The company will also expand its payment service to more shops where both KakaoPay and Alipay are available. The $ 60 billion valued startup, which offers a slew of services from payments to micro finance, has also invested in smaller fintech startups in India, the Philippines and Thailand, and is buying $880 million in shares of USA remittance service MoneyGram. Read More

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BMC Elections 2017: Varun Dhawan Went To Vote But Couldn't

BMC Elections 2017: Varun Dhawan Went To Vote But Couldn't

Actor Varun Dhawan showed up to vote in the Brihanmumbai Municipal Corporation or BMC elections in Mumbai this morning - only to find himself excluded from the voters list at the polling booth. With the BMC Elections 2017, Mumbai city people were busy today casting their votes. On the work front, the actor is now busy promoting his upcoming flick " Badrinath Ki Dulhania " opposite Alia Bhatt. Read More

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Euro-Zone February Composite PMI Index Hits 70-Month High At 56.0

Euro-Zone February Composite PMI Index Hits 70-Month High At 56.0

The composite PMI for Germany rose to 56.1 from 54.8 in January - a 34-month high and much better than the consensus forecast in a Reuters poll of 54.7. Markit's composite figure for the eurozone - a reasonable measure of growth in the continent-wide economy - came in at 56 in February. While the expansion was driven by manufacturing in the former, the services sector led growth in the latter. Read More

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Bovis Homes sees fall in profit due to poor customer service

Bovis Homes sees fall in profit due to poor customer service

The company said it would offset the decision to build fewer homes by improving its customer service, relying more on its own staff, and reassess how it works with materials suppliers. Despite the 2016 profits fall, Bovis still raised its dividend to 45p per share, up 13% from the 40p paid in 2015. LONDON-Bovis Homes Group PLC (BVS.LN) rattled investors on Monday, warning that it expects to build 10% to 15% fewer homes in the United Kingdom this year after missing last year's profit target, ... Read More

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Stock Price of BHP Billiton plc (BBL) Increases 1.31%

BHP declared an interim dividend of 40 USA cents a share, sharply higher than the 16 U.S. cents it paid a year ago and 10 United States cents above its stated dividend policy of paying a minimum 50 per cent of underlying profit. BHP Billiton Plc is based in Collins Street, Melbourne Victoria. If you are accessing this story on another site, it was stolen and reposted in violation of USA and worldwide copyright & trademark legislation. Read More

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Analyst Stock Ratings: Advanced Micro Devices, Inc. (AMD), Pfizer Inc. (PFE)

The company's consensus rating on Reuter's scale slipped from 2.81 to 2.72 during a month. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. BlackRock Institutional Trust Company N.A. raised its position in shares of Advanced Micro Devices by 11.4% in the third quarter. Investors Asset Management of Georgia Inc. Read More

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Amazon lowers minimum for free shipping to $35

Amazon lowers minimum for free shipping to $35

An Amazon spokeswoman confirmed it "recently" lowered the minimum price for free shipping, but decline to specify when the change took place or why it made the move. The big box retailer introduced a new policy a few weeks ago that provides free shipping on orders of $35 or more . Best Buy has free two-day shipping on orders $35 and up on qualifying items. Read More

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Bengaluru: Biker sexually assaults, injures woman in HRBR Layout area

Bengaluru: Biker sexually assaults, injures woman in HRBR Layout area

Police tried to persuade the woman and her friend to lodge a complaint immediately, but they chose to leave the place. She also suffered injuries in her attempt to resist the attack. "The police were alerted about the incident and a patrolling vehicle was rushed to the spot". FIR has been registered against unknown bikers who molested an air hostess on Feb 12th near HRBR layout at Banaswadi Police station. Read More

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TCS announces biggest share buyback in India

TCS announces biggest share buyback in India

Tata Consultancy Services (TCS) announcing a buyback of up to 5.6 crore equity shares for up to Rs 16,000 crore will certainly put pressure on Infosys to also go for a buyback. TCS said the buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism. Read More

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HSBC Slips After Reporting 62% Fall In 2016 Profit

It faces potential business and economic effects from the U.K.'s decision to leave the European Union as well as potential hits to global trade during the administration of U.S. The bank has undergone a major restructuring since 2011, exiting from most of Latin America and placing more focus on Asia. Other banks have also been struggling to maintain profits under the long shadow cast by the negotiations, as fears of a "hard Brexit" manifesting have only been strengthened by UK Prime Minister ... Read More

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Sensex, Nifty open flat; TCS, IDBI Bank in focus

Benchmark Sensex surged 193 points to close at almost five-month high of 28,661.58 today on robust buying in metal and IT counters amid positive global cues. Similarly, shares of Tata Teleservices (Maharashtra) and Reliance Communications rose by 6.61% and 4.22% after a report in The Economic Times said that the two companies were also exploring the possibility of a merger to take on the Mukesh Ambani-owned Reliance Jio. Read More

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European shares supported by miners, telecoms; Unilever slump weighs

United States food giant Kraft Heinz has withdrawn a £115bn bid for a mega-merger with Unilever , the firms have said . Kraft Heinz said in a separate statement that it became clear Unilever was not interested. "It would appear that Kraft Heinz has underestimated both the intrinsic value of Unilever and the challenge of acquiring control of a Dutch company whose stakeholders would have opposed such a move vociferously", Martin Deboo, consumer goods analyst at Jefferies International, ... Read More

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Unilever stock drops after worst day

Kraft's move could flush out other bidders for Unilever, but of the potential rivals, U.S. consumer giant Procter & Gamble Co may face anti-trust hurdles, while pharmaceutical and consumer packaged goods company Johnson and Johnson would likely not be interested in household products. Read More

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Is Paytm spending Rs 600 crore to take on BharatQR?

Is Paytm spending Rs 600 crore to take on BharatQR?

While there is no cost of set-up or hardware, the merchant has to pay a minimal transfer fee at the time of transferring money from the Paytm account into the bank account. Consumers use the medium to pay at kirana stores, toll booths, food courts, hospitals and large retail outlets, among others. This will also enable merchants to do away with transaction fees charged by banks for using the PoS terminal. Read More

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Here's How You Can Buy Snapchat Spectacles Online

Here's How You Can Buy Snapchat Spectacles Online

There was also that one charging case that melted... Snap has answered the prayers of social media addicts by putting its ultra-rare Snapchat Spectacles up for sale in the U.S. Snapchat Spectacles are now limited to six pairs per household with an expected delivery date of two to four weeks. Earlier in the month, Snapchat said that it would make its hard-to-obtain Spectacles easier to buy in 2017. Read More

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Nashar named Saudi Arabia's first female commercial bank CEO

Nashar named Saudi Arabia's first female commercial bank CEO

Before joining NCB Capital, she was chief investment officer at Jadwa Investment. By 2020 the Islamic kingdom wants to boost the proportion of women in the job market to 28 percent from 23 percent previous year. Nashar has 20 years experience at Samba and worked her way up through the bank's career development program, according to a statement from Samba. Women still face huge challenges in the country where they are prohibited from driving and require a guardian's consent to travel ... Read More

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Gas Prices on the Rise in Columbia

A year ago at this time, the average price was 48 cents lower at $1.70. GasBuddy.com surveyed 96 area service stations on Sunday, and analysts note that while prices here have been declining recently, the $2.47 per gallon average is almost 45 cents per gallon higher than on this date a year ago. Read More

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Price of oil lifts but faces prospect of growing United States output

Price of oil lifts but faces prospect of growing United States output

Brent futures LCOc1 gained 23 cents to touch $56.04 a barrel, while US West Texas Intermediate were trading at $53.59 by improving 19 cents, reported Reuters. US drillers boosted the rig count to the highest since October 2015, Baker Hughes Inc. said on Friday. However, the threat of US production strongly weighed on oil prices over the last couple of weeks, thanks to growing inventories from USA shale players. Read More

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Virat Kohli strikes gold with Puma amidst IPL 2017 auction

Virat Kohli strikes gold with Puma amidst IPL 2017 auction

The list includes Jamaican track legend Usain Bolt and his compatriot Asafa Powell, French football stars Thierry Henry, the former Arsenal and Barcelona great, and Olivier Giroud, the current Arsenal striker. The first commercial of Puma featuring Virat Kohli is expected to air on Monday and the Indian batsman is expected to work in markets such as the UK, Australia, and South Africa and places wherever cricket is relevant. Read More

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Germany eyes for International Monetary Fund aid for Greece

The last such mission broke down in acrimony in December over differences as to what still needed to be done and how to ensure Greece meets agreed fiscal targets in the years to come. "We have said over and over again that for us the IMF's participation is indispensable and we are working on this path", Tiesenhausen said. The Greek government blames the IMF for the delay, as the fund disputes the sustainability of the country's finances and demands more pension cuts and a lower income ... Read More

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Iraqi forces push into ISIS-held southern outskirts of Mosul

Iraqi paramilitary federal police and interior ministry units are advancing from the south of Mosul with the initial aim of seizing the city airport. "The lives of hundreds of thousands of civilians are on the line as Iraqi forces and the US-led coalition commence the battle to re-take west Mosul from ISIS", the Norwegian Refugee Council's Country Director in Iraq, Wolfgang Gressmann warned today. Read More

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Unilever shares retreat as Kraft Heinz withdraws $143 bn proposal

United States company Kraft Heinz's rapid retreat from its surprise bid for Unilever sent the Anglo-Dutch group's shares down over seven percent on Monday in London and Amsterdam. Unilever then released a sharp rebuke against the very notion of Kraft's bid, saying the deal had "no merit, strategic or financial" and that it "does not see the basis for any further discussions". Read More

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