BlackRock may keep fees despite executive's U.S. campaign donation: SEC

BlackRock may keep fees despite executive's U.S. campaign donation: SEC

NEW YORK (Reuters) – BlackRock Inc can keep fees from the state of Ohio despite a donation one of its top executives made to Governor John Kasich’s U.S. presidential campaign, according to a preliminary ruling late on Friday by a securities regulator. FILE PHOTO: The BlackRock logo is seen outside of its offices in New […]

Sober in Sin City: Hedge funds focus on work at Las Vegas event

Sober in Sin City: Hedge funds focus on work at Las Vegas event

LAS VEGAS (Reuters) – A hedge fund industry gathering in Las Vegas this week was far less decadent than those of the past, as big money investors focused less on gambling and champagne-soaked “Sin City” celebrations and more on the grind of vetting fund managers. Hedge fund managers and investors meet at the Context Leadership […]

Xiaomi eyes a giant Chinese IPO

Xiaomi eyes a giant Chinese IPO

IN CHINA no company achieved $ 1bn in annual revenue as quickly as Xiaomi did, in the year following the launch of its first smartphone in 2011. Chinese media initially nicknamed Xiaomi the “Apple of the East” (its literal translation is “little rice”). That was a stretch, even in good times. But within another two […]

Wall Street rallies and Apple approaches $1 trillion value

Wall Street rallies and Apple approaches $1 trillion value

(Reuters) – Wall Street jumped on Thursday, and Apple inched closer to a $ 1 trillion stock market value, as tepid inflation data eased worries of faster U.S. interest rate hikes this year. Fueled by a $ 100 billion buyback plan unveiled last week, Apple rose 1.43 percent to a record high close of $ […]

Two hackers have found how to break into hotel-room locks

Two hackers have found how to break into hotel-room locks

WHEN a hacker gets hacked, hackers hack back. That is exactly what an attendee at a hacking conference in Berlin in 2003 did when the keycard-operated lock of his hotel room got hacked. On returning to his hotel room, he found that his laptop had been stolen, but there was no evidence of forced entry. […]

Exclusive: World's biggest gold ETF launching new low-fee fund – source

Exclusive: World's biggest gold ETF launching new low-fee fund – source

LONDON (Reuters) – The World Gold Council, owner of the world’s largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters. FILE PHOTO: A vendor removes a gold accessory from a glass case at […]

Trade talks expose a chasm between China and America

Trade talks expose a chasm between China and America

START with the good news from the trade negotiations between China and America. After weeks of threatening tariffs and counter-tariffs, representatives from the world’s two biggest economies are at last talking. Over two days of meetings in Beijing, which ended on May 4th, Chinese and American officials laid out their grievances and their demands. That, […]

Apple and Buffett saw value, and acted

Apple and Buffett saw value, and acted

SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O) was not the only one to leap on a chance to buy its stock at a fat discount last quarter as Warren Buffett stepped in to scoop up an additional 75 million shares for Berkshire Hathaway (BRKa.N) at the same time. FILE PHOTO: An iPhone X is seen […]

Buffett says U.S., China will avoid acting 'extremely foolish' on trade

Buffett says U.S., China will avoid acting 'extremely foolish' on trade

OMAHA, Neb. (Reuters) – Billionaire Warren Buffett on Saturday said it is unlikely that the United States and China will come to loggerheads on trade, and the countries would avoid doing “something extremely foolish.” “The United States and China are going to be the two superpowers of the world, economically and in other ways, for […]

Zap! American officials can destroy foreign firms like gremlins on a screen

Zap! American officials can destroy foreign firms like gremlins on a screen

WARFARE has been transformed by drones. Using pilotless aircraft armed with precision weapons America can kill its enemies—in, say, the Hindu Kush or Syria—with a click of a mouse. There is a similar shift in economic diplomacy, where Uncle Sam has perfected new weapons that exploit its power over the world’s financial plumbing and over […]