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Bridging The Gap
US job growth surges in February. US job growth surges in February.
Job creation in the US economy surged last month, but the annual rate of wage growth slowed. The economy created 313,000 jobs in February, official figures show, far in excess of analysts' expectations. However, the unemployment rate remained at 4.1%, while the annual earnings growth rate slowed to 2.6% last month. January's annual wage growth rate - which had triggered fears over inflati...
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US rejects China-led bid for Chicago Stock Exchange. US rejects China-led bid for Chicago Stock Exchange.
The US has rejected a proposed merger between the Chicago Stock Exchange and a Chinese-linked investor group. The decision comes after more than two years of reviews by officials. The tie-up was initially approved by the Committee on Foreign Investment in the United States, pending further approval by the Securities and Exchange Commission (SEC). But US politicians, including President Tr...
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US markets open higher amid volatility. US markets open higher amid volatility.
US shares opened higher on Friday, reversing some of the previous session's hefty falls as the volatile week on the markets continued. The Dow Jones Industrial Average started trading up 227 points, or 0.95%, at 24,087. The S&P 500 index opened 25 points, or 0.9%, higher at 2,606. However, both indexes are still on track for their worst weekly losses in six years. In London, the FTSE 100 ...
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U.S. consumer spending up a solid 0.4% in December; savings fall to 10-year low. U.S. consumer spending up a solid 0.4% in December; savings fall to 10-year low.
WASHINGTON — Americans increased their spending 0.4% in December, a solid pace but slower than the big spending burst seen in November. The Commerce Department said Monday the spending gain followed a 0.8% surge in November. Incomes were up 0.4%, helped by a healthy rise in wages that reflects the fact that unemployment is at a 17-year low of 4.1%. A key inflation gauge tracked by the Federa...
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UAE ranks 13th Most Promising Economy for Investment in 2017-19: UNCTAD. UAE ranks 13th Most Promising Economy for Investment in 2017-19: UNCTAD.
The UAE has been named the 13th Most Promising Home Economy for Investment in 2017-19 according to a survey conducted by the United Nations Council for Trade and Development (UNCTAD) and Investment Promotion Agency (IPA) Observer. The ranking, published in the UNCTAD’s recently released annual World Investment Report (WIR) 2017, reflects the UAE’s liberal and investment-friendly business polici...
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UAE Businesses Start Embracing Cryptocurrency Payments. UAE Businesses Start Embracing Cryptocurrency Payments.
UAE’s Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now accepting cryptocurrencies – especially Bitcoin – as a mode of payment for its services. The cryptocurrency is a digital currency or virtual payment t...
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HSBC to pay $101.5m to settle currency rigging probe. HSBC to pay $101.5m to settle currency rigging probe.
HSBC Holdings has its roots in Hong Kong and is Europe's biggest bank HSBC has agreed to pay $101.1m (£72.7m) to settle a US criminal investigation into rigged currency transactions. The bank has admitted its traders twice misused confidential information provided to them by clients for its own profit. HSBC, which is Europe's biggest bank, saw one its former bankers convicted last year in...
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Oil prices rise to hit four-year high of $70 a barrel. Oil prices rise to hit four-year high of $70 a barrel.
The price of oil has hit $70 a barrel for the first time since December 2014. Brent crude climbed after members of Opec, the cartel of 14 oil-producing nations that accounts for 40% of the world's output, said it would continue to limit supplies. The RAC, the motoring group, has warned that rising oil prices could lead to higher forecourt costs for motorists. However, the AA said that dri...
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100+ Kmart, Sears stores to close this spring. 100+ Kmart, Sears stores to close this spring.
More than 100 Sears and Kmart stores will close in March and April, Sears Holdings announced Thursday. The list of unprofitable stores is comprised of 39 Sears locations in 22 states and 64 Kmart sites in 29 states. Liquidation sales at the stores will begin as soon as Jan. 12, according to Hoffman Estates, Ill.-based Sears Holdings. Store employees will receive severance pay and may app...
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Trump hails 'largest tax cut' in US history. Trump hails 'largest tax cut' in US history.
US President Donald Trump has hailed sweeping tax reforms after they were given final approval by Congress, despite fierce criticism by Democrats. "We are making America great again," a jubilant Mr Trump said. He is expected to sign his first major legislative achievement - the biggest rewrite of the US tax code in a generation - in the coming days. The bill slashes taxes for corporations...
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