Developed markets such as North America and Europe will be bogged down by slowing consumer spending in 2017, as debt, an ageing population and economic stagnation takes hold, analysts at market research firm Euromonitor International predicted in a new report. Euromonitor said that events such as Brexit and the “Trump effect,” as they called it, creates political instability that will be “a key challenge going into 2017.”
Category: World News
No Chance’ Brazil’s Government Can Waive Oi Debt, Minister Says
Brazil’s government can’t waive Oi SA’s debt with a local regulator and state-run banks, the communications minister said, denying the phone carrier a lifeline that would have helped it pull out of the biggest bankruptcy in the country’s history. “The govt can’t let go of resources, they are public resources, debt with the public administration,” Science and Technology Minister Gilberto Kassab, who also oversees communications, said Sunday in an interview in Barcelona, Spain.
Russians march to remember slain opposition leader Nemtsov
People gather together prior a march in memory of opposition leader Boris Nemtsov, who was killed two years ago, in Moscow, Russia, Sunday, Feb. 26, 2017. Several thousand people held a march in Moscow in memory of the Russian opposition leader to mark the second anniversary of his killing.
Key developments in Kim’s assassination investigation
A Malaysian police officer guards the gate of the National Forensic Institute at Kuala Lumpur Hospital in Kuala Lumpur, Malaysia, Sunday, Feb. 26, 2017. Malaysian police ordered a sweep of Kuala Lumpur airport for toxic chemicals and other hazardous substances following the killing of Kim Jong Nam.
Far from Carnival street fests, glitzy Rio Ball for elite
A guest in a costume poses for the photo as she enjoys a traditional Carnival ball at the Copacabana Palace hotel in Rio de Janeiro, Brazil, Saturday, Feb. 25, 2017. In stark contrast to the hundreds of hard-charging street parties across Rio that are open to anyone, the “Baile do Copa” bills itself as a fairytale event where the country’s elite can see and be seen in a hotel known for both opulence and a lengthy tradition of welcoming world leaders and stars.
Last BlackBerry-designed phone with physical keyboard to hit stores in April
A man touches the new BlackBerry KEYone, which was presented Saturday at the Mobile World Congress in Barcelona, Spain. Fans of BlackBerry’s classic physical keyboard will have reason to celebrate when the last product designed in part by the former smartphone leader becomes available in April.
Germany: Man hits 3 with car and flees, is shot by police
A car stands in front of a store, guarded by police in Heidelberg, Germany, Saturday, Feb. 25, 2017. A man apparently drove a car into pedestrians in a central square in the city of Heidelberg, injuring three people, then fled and was shot after being tracked down by officers, police said.
Myanmar police blame grudge, not army, for lawyer’s murder
Myanmar Deputy Home Affairs Minister Gen. Kyaw Swe talks to journalists during a press conference in Yangon, Myanmar Saturday, Feb.25, 2017.
Malaysia Warns North Korea to Cooperate With Investigation
Malaysia said Saturday that it would issue an arrest warrant for a North Korean diplomat if he refuses to cooperate with the investigation into the deadly attack on North Korean ruler Kim Jong Un’s exiled half brother. The investigation has unleashed a serious diplomatic fight between Malaysia and North Korea, a prime suspect in the Feb. 13 killing of Kim Jong Nam at Kuala Lumpur’s airport.
China Box Office: ‘Resident Evil: The Final Chapter’ Debuts to Massive $33M
Beijing-based Leomus Films, the local marketing partner on the release, are now forecasting $85 million for the full weekend. Sony’s Resident Evil: The Final Chapter has opened to an enormous $33 million on its first day in China.
Trivago Shrugs Off New Competition From Priceline, TripAdvisor
Trivago NV, the German hotel search site that went public in December, isn’t concerned about competitive threats from rivals TripAdvisor Inc. and Priceline Group Inc., as the market is still big enough for everyone to grow. Sales are expected to increase 45 percent to around 1.1 billion euros in 2017, the Dusseldorf, Germany-based company said Friday, sending shares up as much as 4.8 percent in New York.
Croatia to Continue Production Incentives Despite Film Center Crisis
The government of the south-eastern European country confirms its commitment to “maintaining and strengthening” its tax breaks for foreign productions. The Croatian government will continue its production incentives for filmmakers despite a crisis at the national film center that administers the 20 percent tax rebate scheme.
Oil Falls as Stockpiles Rise
U.S. oil prices fell on Friday after official data released late on Thursday showed stockpiles rose last week for a seventh straight week, although losses were muted as inventory growth was well below expectations. There were also signs that traders are starting to shift crude stored on tankers in Asia and tanks in the U.S. U.S. West Texas Intermediate was down 16 cents at $54.29 by 0728 GMT.
China Shares Up For 3rd Week
China stocks were largely unchanged on Friday, reversing earlier losses, as reform hopes underpinned the market, with the main indexes up for the third straight week thanks to improving risk appetite. The blue-chip CSI300 index was unchanged at 3,473.85 points, while the Shanghai Composite Index added 0.1 percent to 3,253.43 points.
Jihadi launchpad Tunisia hesitates taking extremists back
In this photo dated, Dec. 24, 2016, women demonstrate outside the Tunisian parliament, in Tunis, Saturday, Dec. 24, 2016. Poster reads : no to the return of Daesh’s criminals in Tunisia.
Oil Slips as Stockpiles Rise
U.S. oil prices fell on Friday after government data released late in the previous session showed stockpiles rose last week for a seventh straight week, although losses were muted as inventory growth was well below expectations. U.S. West Texas Intermediate fell 12 cents, or 0.2 percent, to $54.33 a barrel by 0323 GMT, having closed up 1.6 percent in the previous session.
Earth’s newest continent ‘Zealandia’ was found thanks to a…
By now you’ve probably seen the big geology news: Earth has a brand-new continent called Zealandia , and it’s been hiding from us for ages. What’s less widely known about the discovery, however, is how it came about – and what it means for we humans who live on top of the rocks.
India Blocks Theatrical Release of Feminist Drama ‘Lipstick Under My Burkha’
Alankrita Shrivastava’s film, which won honors at Tokyo and Mumbai last year, features “abusive words, audio pornography” and more, says the country’s censor board. After winning accolades on the film festival circuit, Indian female empowerment drama Lipstick Under My Burkha has hit a hurdle at home with India’s censor board denying the film a theatrical release certificate.
The Nigerian Designer Who’s Dressed Michelle Obama, Lupita Nyong’o & Solange
She says she wants to “dress the world,” and she’s off to an impressive start. We spoke with Amaka Osakwe about what inspires her Maki Oh clothing line.
China Shares Fall; Property Tax in Focus
China’s main stock indexes snapped a three-session winning streak to end lower on Thursday, as expectations of new asset management rules and property taxes weighed on the market. The blue-chip CSI300 index fell 0.5 percent, to 3,473.32 points, while the Shanghai Composite Index lost 0.3 percent to 3,251.38 points.
Tellurian: Cramer’s Top Takeaways
Tellurian’s Charif Souki tells Jim Cramer he’s bullish on the ability of the U.S. to export more natural gas. In an “Executive Decision” segment, Cramer spoke with Charif Souki, former head of Cheniere Energy and now the co-founder and chairman of Tellurian , a stock that was up 12.1% today.
US Treasury Yields Rise; All Eyes On Fed Minutes
To read Chairman Yellen’s remarks, visit Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. on February 14, 2017, and Chair Yellen submitted identical remarks to the Committee on Financial Services, U.S. House of Representatives, on February 15, 2017 . The Fed minutes due to be released later on Wednesday could either reinforce or undermine recent hawkish comments from central bank policy makers.
The Latest: North Korea says women suspects should be freed
Journalists wait outside North Korean Embassy in Kuala Lumpur, Malaysia, Wednesday, Feb. 22, 2017. The women suspected of fatally poisoning a scion of North Korea’s ruling family were trained to coat their hands with toxic chemicals then wipe them on his face, police said Wednesday, announcing they were now seeking a North Korean diplomat in connection with the attack.
China’s thriving SUV-only automaker looks to global growth
In this Sunday, Feb. 19, 2017 photo, Wei Jianjun, chairman of Great Wall Motors Ltd. speaks during a press conference after attending a reception celebrating it sales passing the one million mark, at the Great Wall headquarters in Baoding in north China’s Hebei province. A decade ago, Wei saw opportunity as the bulky vehicles started to shed their image as a farm tool.
SpiceJet Says India’s $85 Billion Plane Orders Still Not Enough
India’s airlines have ordered about 850 planes valued at about $85 billion in recent years. SpiceJet Ltd., a budget carrier, says that’s still not enough to meet demand.
Airbus Earnings Slide on A350 Costs, A320Neo Engine Holdups
Airbus Group SE’s earnings fell 3.6 percent last year as a late surge in aircraft deliveries failed to offset costs from ramping up output of the A350 twin-aisle model and the impact of engine glitches that curbed handovers of the latest A320 narrow-body. Earnings before interest and tax before one-time items dropped to 3.96 billion euros in 2016 from 4.11 billion euros a year earlier, Toulouse, France-based Airbus said in a statement Wednesday.
Total CEO Says OPEC Needs to Prolong Cuts to Eliminate Surplus
OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global inventory glut that has kept a lid on prices, said Total SA Chief Executive Officer Patrick Pouyanne. “If they want really to have an impact on the market, which means to have the inventories going down because inventories are quite high, it will have to be extended beyond May,” Pouyanne said Tuesday in a Bloomberg television interview in New York.
Dow Posts Eighth Consecutive Record Close; S&P 500 and Nasdaq Also Score New Highs
Wall Street returned from the long holiday weekend with enough energy to push stocks to new records for their second session in a row. The Dow Jones Industrial Average increased 0.58% to close at 20,743, capping off its eighth straight day of gains following a better-than-expected quarter from Walmart .
Telkom Said to Consider $1 Billion Bid for South Africa’s Cell C
Telkom SA SOC Ltd. is considering a bid of as much as $1 billion for South African wireless operator Cell C Pty Ltd., which has missed debt payments and is trying to complete a recapitalization, according to three people familiar with matter. Investment banks are also approaching other potential bidders with the firepower to take on the deal, said two of the people, who asked not to be identified as the matter is private.
Trump denounces wave of anti-Semitism: ‘It’s horrible and it…
In an interview with NBC News, the president offered a more forceful condemnation of recent anti-Semitic provocations in the US, including threats to Jewish community centers and the extensive vandalism of Jewish graves. Speaking at the newly opened Smithsonian National Museum of African American History and Culture on Tuesday, Trump reiterated his denunciation.
European Oil Majors Rise on Record Bets For Further Crude Gains
Europe’s biggest oil company stocks notched solid gains Tuesday as crude prices continued to rise on increased bets that OPEC’s production cut discipline will offset rising U.S. supply signals. Europe’s biggest oil company stocks notched solid gains Tuesday as crude prices continued to rise on increased bets that OPEC’s production cut discipline will offset rising U.S. supply signals.
Steel yourself for the bad news from retailers — Guilfoyle
“When you bring in multi-brand retail items into the country, you’re not just bringing the products, but you’re also harming local manufacturers.” –Narendra Modi, Prime Minister of India Don’t look now, but earnings season is far from over.
Crude Prices Rise as Investors Bet Big on Oil Strength
U.S. crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year. U.S. West Texas Intermediate crude was up 27 cents, or 0.5 percent, at $53.67 a barrel at 0511 GMT, after rising about 0.5 percent in a shortened session on Monday due to a U.S. national holiday.
Citigroup Pays $5.4 Million in Rand-Rigging Probe Settlement
Citigroup Inc. agreed to pay a penalty of almost 70 million rand to settle a South African antitrust investigation that said the U.S. bank participated in an alleged cartel to manipulate the value of the rand. “There could well be other settlements now that it seems the parties are prepared to come forward,” Patrice Rassou, head of equities at Sanlam Investment Management in Cape Town, said in an e-mailed response to questions on Monday.
The US is going after the highest-profile Venezuelan target…
In this Feb. 1, 2017 photo, Venezuela’s Vice President Tareck El Aissami, right, is saluted by Boilivarian Army officer upon his arrival for a military parade at Fort Tiuna in Caracas, Venezuela. The administration of President Donald Trump is slapping sanctions on El Aissami and accusing him of playing a major role in international drug trafficking.
Trump’s Defense Chief Says in Iraq: We’re Not Here for Your Oil
The U.S. military is “not in Iraq to seize anybody’s oil”, Defense Secretary Jim Mattis said as he arrived for talks with Iraqi leaders on Monday, distancing himself from remarks by President Donald Trump. Mattis was the highest-ranking Trump administration official to visit Iraq since Trump irked Iraqis with a temporary ban on travel to the United States and for saying America should have seized Iraq’s oil after toppling Saddam Hussein in 2003.
Oil Rises, But Swelling U.S. Output Caps Rally
Oil edged up on Monday, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained price rise, although growing U.S. output and stubbornly high stockpiles kept price gains in check. Top OPEC exporter Saudi Arabia’s crude oil shipments fell in December to 8.014 million barrels per day from 8.258 million bpd in November, official data showed on Monday.
Oil Rises, But Faces Prospect of Growing U.S. Output
Oil prices rose on Monday but gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles might offset the existing push by producers to cut output and bring the market into balance. Brent futures were up 33 cents at $56.14 a barrel at 1235 GMT, while U.S. West Texas Intermediate crude rose 23 cents to $53.63.
German Yields Hit Record Low, French Bond Spreads Widen as Political Concerns Intensify
Germany’s two-year government bond yields hit a record low Monday amid rising political uncertainty in the region as officials meet in Brussels to debate the ongoing bailout in Greece. Germany’s two-year government bond yields hit a record low Monday amid rising political uncertainty in the region as officials meet in Brussels to debate the ongoing bailout in Greece and polls indicate rising support for far-right Presidential candidate Marine Le Pen.
Sequoia-Backed China Robot Startup Said to Be Raising New Funds
Makeblock Co., a Chinese maker of DIY robotics parts, is seeking to raise funding at a $200 million valuation as the Sequoia Capital-backed startup expands into classrooms and hobbyist’s workshops globally, people familiar with the matter said. The Shenzhen-based company us seeking to raise about 200 million yuan in a series B round, the people said, requesting not to be named discussing a private matter.