Stephen Nicholson

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Global airfares, hotel rates to rise in 2019: industry forecast

SINGAPORE (Reuters) - A strong global economy and rising oil prices are expected to push up the cost of air travel in 2019, with fares seen rising 2.6 percent and hotel rates up 3.7 percent, although there are downside risks from a trade war, according to an industry forecast.<p>In some countries, …

Travel Deals

Berlin real estate sales reach record €18 billion in 2017

Last year, buyers paid a record-breaking sum for apartments, houses and plots of land in the German capital, according to a report. The most …

China's caffeine war: Fast-growing Luckin brews up a threat to Starbucks

BEIJING/SHANGHAI (Reuters) - Qian Zhiya may be Starbucks’ worst nightmare.<p>The 42-year-old Chinese entrepreneur says she is betting that her fledgling Luckin Coffee brand will eventually have more cafes in China than Starbucks (SBUX.O), and she has Singapore’s sovereign wealth fund and other …

China

Public sector workers: Pay rises announced for a million people

<b>A million public sector workers are to receive their biggest pay rise in nearly 10 years, the government says.</b><p>It includes 2.9% extra this year for the armed forces, 2.75% for prison officers and up to 3.5% for teachers.<p>Police will see a 2% rise, the same increase seen by GPs and dentists.<p>The move …

Q2 Earnings: How Alphabet Crushed It

Five metrics show that Alphabet isn't slowing down.<p><b>Alphabet</b> (NASDAQ:GOOGL) (NASDAQ:GOOG) -- parent company of Google -- just reported second-quarter …

Tariffs Are Having A Chilling Effect On More U.S. Businesses

To see what a trade fight can do to exports, all you need to do is look at pork.<p>American ham and other pork products now face massive tariffs — between 62 and 70 percent – after two rounds of retaliatory tariffs by China. It's led to almost a standstill in pork exports to China.<p>"In recent weeks, …

Tariffs

AT&T revenue misses Wall Street estimates, shares slip

(Reuters) - AT&T Inc, the new owner of cable channels HBO and TNT, on Tuesday reported quarterly revenue that fell shy of Wall Street estimates but added more wireless subscribers than expected.<p>Shares of the Dallas-based company fell 1 percent in after-hours trading following the mixed results for …

Troubled Deutsche Bank accelerates restructuring

FRANKFURT, Germany (AP) — Germany's struggling Deutsche Bank said Wednesday that its net profit fell less than expected in the second quarter as it was making quicker progress in cutting costs and reshaping its business model after three straight years of losses.<p>Net profit fell to 401 million euros …

EU commissioner suggests broad cuts to tariffs with U.S.

BERLIN (Reuters) - The European Union's budget commissioner suggested on Wednesday the bloc would be ready to discuss mutual tariff cuts with the United States across a range of products, provided Washington lifts recent punitive tariffs first.<p>Speaking before an EU delegation travels to Washington …

Retirement: Plan to work 2 years longer than you thought, survey suggests

Blue skies, a beach, a nice book. For many, retirement presents an opportunity for relaxation.<p>But for the majority of Americans, that retirement likely will be put off for longer than they expected, a new study finds.<p>Three of five Americans are “very likely” to work about two years longer than …

China pledges $14.7 billion investment in South Africa

CNBC's Chris Bishop reports from the BRICS summit in Johannesburg, South Africa.

London's black-cab drivers consider suing Uber for £1bn

London’s black-cab drivers are considering legal action against Uber with potential plans to sue the US ride-hailing service for more than £1bn over their loss of earnings.<p>The Licensed Taxi Drivers’ Association is consulting lawyers at Mishcon de Reya over a possible claim, according to a report on …

Uber

Glaxo Opens the Door to Some Radical Surgery

Rakesh Kapoor likes to play a long game. When it comes to consumer healthcare, the Reckitt Benckiser Group Plc boss’s patience may be about to pay off.<p>GlaxoSmithKline Plc is weighing a spinoff of its consumer healthcare arm, according to the Financial Times. In a statement on Monday, the drugmaker …

Bank of America

JPMorgan, Morgan Stanley picked to advise on Aramco's SABIC deal: sources

DUBAI (Reuters) - JPMorgan (JPM.N) and Morgan Stanley (MS.N) have been picked to advise on Saudi Aramco's plan to buy a controlling stake in petrochemical maker SABIC (2010.SE), several sources familiar with the matter said.<p>Aramco aims to buy such a stake, possibly taking the entire 70 percent …

Oil steadies on U.S. stockpile forecasts, Venezuela worries

NEW YORK (Reuters) - Crude oil futures steadied on Tuesday as the focus turned to falling inventories in the United States and further output constraints in Venezuela and Libya.<p>Supply disruptions in Venezuela returned to the forefront as two of the country's four crude upgraders are scheduled to …

Oil & Gas Industry

The 6 Best Razors for Men, According to a Professional Barber

From disposable to electric.<p>Whether you're lathering up your face, head, or chest, a smooth shave requires patience, practice, and the right tools.<p>Drugstore aisles are filled with dozens of options — disposable, refillable, electric — and a growing number of mail-order subscription razor services …

Bayer will sell BASF $9 billion in agriculture assets to allow Monsanto purchase, marking biggest ever antitrust divestiture

Drug-maker Bayer, agreeing to the largest divestiture in American antitrust enforcement history, will sell agricultural businesses and assets worth …

Small banks trump Wall Street on Dodd-Frank rewrite

WASHINGTON (Reuters) - Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and JPMorgan Chase & Co (JPM.N), will not be breaking out the champagne.<p>While Wall …

Wall Street

HMD Global raises $100 million to help Nokia expansion, now a ‘unicorn’ startup

• HMD Global just raised $100 million to help push the Nokia brand in 2018.<br>• With this new funding, the HMD Global “unicorn” status is solidified, since it now is worth over $1 billion.<br>• The company committed to “aggressively expanding” the Nokia brand, and reaffirmed its commitment to the Android One …

Microsoft turns SharePoint into the simplest VR creation tool yet

SharePoint spaces is like the PowerPoint of Mixed Reality.<p>Microsoft is sticking with its pragmatic approach to VR with SharePoint spaces, a new addition to its collaboration platform that lets you quickly build and view Mixed Reality experiences. It's a lot like how PowerPoint made it easy for …

BMW i3 batteries provide energy storage for UK wind farm

A total of 500 packs promise reliable green power.<p>The UK is now home to one of the largest energy storage projects using EV batteries. Vattenfall has connected a total of 500 BMW i3 batteries to the Pen y Cymoedd onshore wind farm in Wales, creating the biggest co-located installation in the UK. …

10 fast-growing companies in the hottest small-cap stock sector

Small-cap stocks traded in the U.S. are on track to post their fourth straight record Monday.<p>And what’s been driving the group? Health-care …

Investing

Marks & Spencer to close more stores

Marks & Spencer (OTCQX:MAKSF, OTCQX:MAKSY) is expected to close more stores when the retailer announces full-year earnings on May 23.<p>The company is …

Euro-Swiss Shows Elevated Systemic Risk

<b>The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into</b> …

European shares eye four-month high, Italy sell-off relents

LONDON (Reuters) - European shares inched toward four-month highs on Tuesday, as an easing of pressure on Italy’s debt markets coincided with China’s latest move to open up its giant economy to the rest of the world.<p>Market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in …

Stock Markets

Brent rises on supply concerns, U.S.-China trade worries weigh

NEW YORK (Reuters) - Brent crude prices settled slightly higher on Tuesday after a volatile session in which potential supply concerns surrounding Venezuela and Iran jockeyed with comments from President Donald Trump, who said he was not pleased with U.S.-China trade talks.<p>FILE PHOTO: Cut-outs …

Sony to Buy Additional 60% Stake in EMI Music Publishing

Seven years ago, Sony entered a complex deal with Abu Dhabi for control of the EMI Music Publishing catalog, a trove of more than two million songs that ranges from “Over the Rainbow” to hits from Beyoncé.<p>Now, Sony is buying out its partner in one of the biggest music deals in years.<p>Sony announced …

Music

The richest hedge fund manager in Britain bumped up his wealth by $813 million last year

Michael Platt, the co-founder of BlueCrest Capital Management, is the richest hedge fund manager in Britain with a net worth of £3 billion ($4.1 billion), according to the Sunday Times.<p>The Sunday Times published its 2018 “Rich List” today (May 13), ranking the 1,000 wealthiest people in the UK. It …

Hedge Funds

India’s bad-loan crisis is so dire that one bank is now banned from lending money

The massive clean-up of bad loans in India is turning out to be a prolonged battle for survival for the country’s banks.<p>Eleven out of the 21 public sector banks in India were already under the banking regulator’s supervision, and had to contend with restricted business so far. Now, the Reserve Bank …

Banks are already bumping up against the limits of AI in lending decisions

While big tech companies might not face regulation of their artificial-intelligence efforts in the US, banks trying to use AI still have to contend with reams of industry-specific rules, including laws ensuring equal treatment of customers.<p>According to Bank of America technology executive Hari …