Dennis Gartman, founder and editor of The Gartman Letter, said on Wednesday that among the winners from the U.S. election would be copper, steel, coal and gold when it comes to the commodities market. “I think the world was not prepared for Mr. Trump to win this. So money is fleeing to safer havens —…
In a double blow to her three-day visit to India, U.K. Prime Minister Theresa May failed to arrange a meeting with senior figures at Tata Group and clashed with her Indian counterpart Narendra Modi over migration rules. As Modi appeared alongside May at a technology summit in New Delhi, he called on Britain on Monday to support…
According to OPEC’s Secretary- General Mohammed Barkindo, for a potential OPEC agreement to limit crude oil production to help re-balance the market Russia, the world’s biggest energy producer, is “on board”. Barkindo told reporters Monday at an energy conference in Abu Dhabi that cooperation from non-OPEC producers will help bring the oil market back into…
Paving the way for EU regulators to rule next year on these issues and potentially impose hefty fines, Google had formally rejected European Union antitrust charges of unfairly promoting its shopping service and blocking rivals in online search advertising. It was six years ago that an investigation was prompted by complaints from rivals such as…
A federal appeals court said that soon after underwriting its May 2012 initial public offering, Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley need not forfeit their estimated $100 million of profit from trading Facebook Inc stock. This brought some relief to the U.S. banks. A claim that “lock-up” agreements forbade the…
FIFA was billed for 2.2 million Swiss francs ($2.2 million) in hourly fees for 2014 and 2015 by the independent investigator probing scandals at the soccer’s governing body, said media reports quoting people familiar with the matter. Cornel Borbely has headed the investigatory chamber of its ethics committee since 2014 and FIFA has never disclosed…
Due to Britain leaving the European Union, according to a report from a pro-Brexit lobby group, the U.K.’s biggest banks and financial firms could gain an additional 12 billion pounds ($14.6 billion) a year in revenue. The Leave Means Leave campaign said in the report published recently that Britain could be helped in cutting “stifling…
Researchers have found that for men with black-sounding names, rides were cancelled more than twice as often as for other men by drivers for Uber Technologies Inc. in Boston. Similarly, compared to white customers, notably longer wait times for a car using Uber and Lyft Inc. were faces by black people in Seattle. These are but some…
Ending days of speculation by the industry, General Electric has finally announced its merger of its oil and gas business and the No. 3 oilfield services provider Baker Hughes. This announcement was made on Monday as expected and was based on GE banking on a recovery in oil prices. Baker Hughes shareholders will receive 37.5…
The global demand for coffee is being pushed to a record just as supplies are tightening tanks to the millennials’ seemingly unquenchable thirst for the drink. At a fast enough pace to make up for declines by older folks, young adults are increasing their daily consumption and Americans are becoming java junkies at an earlier…
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