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Britain's new Prime Minister Theresa May's cabinet takes shape


They will be photographed in the room where the monarch and prime minister hold regular meetings, and Theresa May will formally become the second female prime minister after Margaret Thatcher. One prime minister leaves, another arrives. "Following the referendum, we face a time of great national change and I know because we are Great Britain, we will rise to the challenge", May said outside the prime minister's Downing Street office. Read More »

Singapore, US seize assets of tainted Malaysian fund


Attorney in Los Angeles, said at a news conference. The rally should "demand the removal of the kleptocrat who has stolen money from the government", said Mahathir. "As the Prime Minister has always maintained, if any wrongdoing is proven, the law will be enforced without exception", the spokesman said. He also remains firmly in political control of the country, thanks largely to the apparently unwavering support of ruling party members despite a few voices of dissent. Read More »

Verizon Nears Deal to Buy Yahoo


Both companies are hoping to announce a deal as early as next week, this person said. Verizon may raise its bid at the final deadline to clinch a sale , two of the people said. After what seems like years of talks, negotiations and speculation, Yahoo! "It can put its money into its AOL franchise". What remains unclear is whether Yahoo will abort its long-running turnaround attempts and sell its operations in a move that would likely end the four-year reign of CEO Marissa Mayer. Read More »

Supply Glut Concerns Take a Toll on Crude Oil Prices


Brent is on track for a decline of more than 3 percent for the week. "Over the last month United States oil rigs have started to increase , while USA oil output has expanded over the last fortnight". Prices sank two per cent Thursday as traders were left disappointed by the lack of forward guidance from the European Central Bank on its stimulus, while the Bank of Japan's governor threw cold water on hopes for robust measures from Tokyo . Read More »

EgyptAir expands fleet with 9 new Boeing 737s

Bombardier itself hopes to win fresh orders for its fuel-efficient C Series jetliner at Farnborough as it looks to challenge the dominance of Airbus and Boeing in medium-range, single-aisle aircraft. Meanwhile, Boeing's CEO and President Dennis Muilenburg said "We are honored by Donghai Airline's reaffirmation of the 737 MAX, and we look forward to welcoming Donghai as our new 787 customer", adding that the new aircrafts would give the Chinese company "added efficiency, operating ... Read More »

NJ added 22200 private-sector jobs in June, most since February 1996

In May, the state's economy lost 4,000 jobs, the department said Thursday, a number revised from an initial report of a loss of 1,400. The agency says the current workforce is 1.9 percent larger than it was in June 2015. Educational and health services had the greatest job losses in June, down 7,300 jobs, but the industry was still up 5,800 jobs from the year before. Read More »

Amazon enters student loan business in partnership with Wells Fargo


Prime Student members can apply for private student loans through Wells Fargo that boast a 0.5% interest rate discount, according to a company statement. Wells Fargo owns the customers. Private student loans are a booming industry, albeit one that has faced criticism. For Amazon , the deal essentially amounts to free exposure for their product to students who need a loan, he said. Read More »

Copy of Pokemon Go tops charts in China


While the game has been wildly popular among users and is reportedly set to leapfrog Snapchat, Tinder and Twitter in terms of subscribers, several groups have voiced safety concerns over the app. Legendary Pictures, the same studio responsible for "The Hunger Games" and the most recent video game adaptation "Warcraft", is "moving toward a deal to make a live-action " Pokemon " movie, according to Deadline ". Read More »

Hundreds stranded at BNA following Southwest computer glitch


A youth baseball team headed for a game in St. Louis was among the hundreds of passengers left stranded at LAX Thursday morning amid a growing number of Southwest Airlines flight delays and cancelations. It expects to replace the longstanding reservations system next year and replace other key systems over the next three to five years. Long lines exist this morning at Oakland International Airport, where Southwest operates out of Terminal 2, airport spokeswoman Keonnis Taylor said. Read More »

Obama admin seeks to block mega health-care mergers


Humana is supposed to receive $1 billion from Aetna , according to the merger agreement . The move comes as heath care and health insurance costs continue to rise significantly faster than overall inflation, and despite the efforts of the administration of President Barack Obama to press down prices and boost competition through the ambitious reforms of the Affordable Care Act , or "Obamacare". Read More »

Kiwi slips again as RBNZ all but promises rate cut


The New Zealand dollar against the greenback traded above US72c for much of last week, before easing to US70c, and dipped down to US69.7c following yesterday's announcement. "The Bank is now consulting on stronger macro-prudential measures aimed at mitigating risks to financial stability from the current boom in house prices". Read More »

Covered California proposes 13 percent premium increase


The premium increases in California will vary widely by region and by insurance company, and could pinch the pocketbooks of cost-conscious consumers like David Arnson. "I do want health care - I want the peace of mind that if anything happens to me that there's some kind of coverage", Chavez said. Nevertheless, Hickey said the Albuquerque-based nonprofit insurance cooperative is seeking sharp increases in its individual rates next year because it will have to pay a "risk adjustment bill" of ... Read More »

Morgan Stanley clears lowered expectations


As part of its cost-cutting effort, Morgan Stanley cut nonessential travel by half, Chief Financial Officer Jon Pruzan said on a conference call. In related news, insider Eric F. Shares of Morgan Stanley closed Tuesday at $28.19, with a consensus analyst price target of $31.37 and a 52-week trading range of $21.16 to $40.74. Read More »

GOP convention kicks off as nation reels from more violence


Earlier this month, the slaying of a black man in Baton Rouge by white officers led to protests nationwide and heightened concerns about the state of race relations in America. "We won't sit around and coronate a king", said Colorado delegate Kendal Unruh, who like many insurgents has backed vanquished presidential contender Sen. Read More »

Clinton VP search focus is Kaine, Vilsack, Perez


Spokesman Brian Fallon merely said, "On Friday, Secretary Clinton held a series of campaign-related meetings at her Washington home, including several about her vice presidential selection process". These and other Democrats cautioned that Clinton has not made a final choice and is keeping mum about her deliberations. "Amazing", Clinton replied. Read More »

Unilever to buy Dollar Shave Club


Part of Dollar Shave Club's success is due to its comparatively cheap razor blades, which are delivered by automatic monthly subscription. Dollar Shave Club will continue to run as an independent company inside Unilever, with CEO Michael Dubin remaining as CEO of the company. Read More »

HSBC Banker Arrested at JFK in Foreign Exchange Probe


HSBC had already reached a settlement to pay US regulators $275 million and $343 million to United Kingdom regulators as part of a joint probe into currency market manipulation. Johnson was taken into custody at John F. Kennedy International airport on Tuesday and was scheduled to appear in federal court in Brooklyn on Wednesday, Bloomberg reported the people as saying. Read More »

Rudy Giuliani Republican National Convention Speech


Melania Trump Wherever the Trump campaign goes, controversy seems to follow - and the RNC is certainly not immune. "We know the risk you're taking and we say thank you to every police officer and law enforcement agent who's out tonight protecting us, black, white, Latino", Giuliani said. Read More »

How the Dow Jones industrial average fared on Tuesday


Contracts on the S&P 500 Index expiring in September dropped 0.2 percent to 2,155.75 at 7:33 NY, edging lower as European markets opened. The S&P 500 edged up 0.16 points, or 0.01 percent, to 2,161.90. "Everything else is noise, and there's so much noise". All of the higher-rate deposit products left over from the pre-2008 period are long gone and numerous CDs renewed at low rates a couple years ago have also now matured. Read More »

Yahoo Stays Mum About Sale As Q2 Financials Beat Expectations

Yahoo recorded a non-cash goodwill impairment charge of $395 million and a non-cash intangibles impairment charge of $87 million related to Tumblr . During the same quarter past year, the firm posted $0.16 EPS. Potential bidders include Verizon Communications, private-equity firm TPG, and Quicken Loans founder Dan Gilbert. (Oppenheimer & Co. make a market in the securities of Yahoo .) He said Yahoo would be smart to argue that its restructuring cut costs and helped them perform better ... Read More »

Rio Tinto keeps iron ore mines running at full steam


Newly arrived CEO Jean-Sebastien Jacques later denied the assets were being prepared for a sale, though some observers expect piecemeal disposals. "Production from bauxite, alumina and aluminium were 7%, 5% and 2% higher than we had anticipated", Macquarie says ... Read More »

EU, US warns Turkey it must uphold democracy after failed military coup


A recent deal between the bloc and Turkey to return all migrants coming to Europe from Turkey has reduced the number of arriving migrants tremendously. The interior ministry said nearly 9,000 police, municipal governors and other officials had also been dismissed in a widening purge. Gen. Akin Ozturk, described as the ringleader of Friday's foiled uprising, is among them. Read More »

Inflation report expected to add to confused economic picture


According to RBNZ projections, NZD would have to depreciate by roughly six percent on a trade weighted basis by year-end, however, without a further rate cut that seems unlikely. Food and petrol prices are expected to rise as will construction prices, rents and home heating prices. He noted, however, that the Reserve Bank's economic update on Thursday would be the key influence on the likelihood of an August cut. Read More »

Turkish lira rallies after crashing in wake of coup


The euro EURUSD, +0.1722% rose against the USA dollar Monday after falling 0.8% Friday. The MSCI Emerging Markets Index was little changed, following seven days of gains. Although concerns about Turkey's stability have abated for now, yields on 10-year USA and German government debt slipped on expectations the European Central Bank may embark on more stimulus to help the region's sluggish economy. Read More »

IBM revenue beat estimates as shift to cloud pays off


Moreover, unlike in some prior quarters, the EPS beat wasn't driven by massive stock buybacks or an unexpected tax benefit - a moderate $800 million was spent on buybacks, and IBM's tax rate, though still fairly low at 17.8%, was up from 16.5% a year ago. Read More »

In Another British Exit, Cameron Departs Downing Street

In her first speech as prime minister outside 10 Downing Street on Wednesday, May said: "We will make Britain a country that works not for a privileged few, but for every one of us". As an MP and former London mayor, he is famous for his gaffes. The diplomatic world is preparing for the landing of Boris. May's spokeswoman said the prime minister "underlined her commitment to be a key partner with the United States ". Read More »

British PM Theresa May travels to Scotland on first trip

As the shockwaves from her radical Cabinet clear-out continued to surge through the Tory party, Mrs May turned her attention to preserving the union as she headed to Edinburgh for talks with SNP First Minister Nicola Sturgeon. In a rebuff to May, Sturgeon said it would be "inconceivable for any prime minister to seek to stand in the way of a referendum if that is what the Scottish Parliament voted for". Read More »