19 February, 2015 by The TZ Newswire Staff Comments Off on Saudi king to give the masses $32B in bonuses
Saudi king to give the masses $32B in bonuses
Saudi Arabia’s new monarch is expected to give away over $30 billion to ordinary Saudis in post-coronation bonuses. The NYT reports.
19 February, 2015 by The TZ Newswire Staff Comments Off on Greece hopes for solution, still opposed to bailout: government spokesman
Greece hopes for solution, still opposed to bailout: government spokesman
Greece has made every effort to reach a mutually beneficial agreement with its euro zone partners but will not be pushed to implement its old bailout program, its government spokesman said on Friday. “The Greek government has done all it should at every level in an effort to find a mutually beneficial solution,” government spokesman Gabriel Sakellaridis told Mega TV. “We are not discussing the continuation of the (bailout) program,” Sakellaridis said.
19 February, 2015 by The TZ Newswire Staff Comments Off on Nasdaq nears all-time highs as exuberance yields to reason
Nasdaq nears all-time highs as exuberance yields to reason
As the technology-heavy Nasdaq Composite Index closes in on the all-time high it reached in March 2000, investors are facing a market that barely resembles the go-go era of 15 years ago. Valuations, as measured by what investors are willing to pay for the last 12 months of earnings, are an eighth of what they were at the peak of the dot com bubble, when the Nasdaq hit an intraday record of 5,132 before falling more than 63 percent in 12 months.
19 February, 2015 by The TZ Newswire Staff Comments Off on U.S. West Coast ports talks break for night without deal
U.S. West Coast ports talks break for night without deal
Shipping executives and union leaders for dockworkers at 29 West Coast ports ended a third straight day of contract talks late on Thursday without a settlement, despite arm-twisting from the U.S. labor secretary, but planned to meet again on Friday. Labor Secretary Tom Perez joined the talks in San Francisco on Tuesday at the behest of President Barack Obama, who has come under growing political pressure to intervene in a dispute that has rippled through the trans-Pacific commercial supply chain and could cost the U.S. economy billions of dollars.
19 February, 2015 by The TZ Newswire Staff Comments Off on Japan January inflation seen easing, factory output up; BOJ sits tight
Japan January inflation seen easing, factory output up; BOJ sits tight
Japan’s core inflation is seen slowing for a sixth month in January while factory output is expected to rise, underlining the policy challenge facing the Bank of Japan as it strives to speed up economic growth and achieve its 2 percent price target. Stripping out the effects of a sale tax hike, the nation’s core consumer price index (CPI) – excluding volatile fresh food but includes oil products – is forecast to have increased 0.3 percent year-on-year last month, a Reuters poll showed.
19 February, 2015 by The TZ Newswire Staff Comments Off on Transocean CEO’s exit linked to lack of vision in tough market
Transocean CEO’s exit linked to lack of vision in tough market
Barely two months into his new job as the head of the world’s largest offshore driller, Steven Newman was steering Transocean through the 2010 Gulf of Mexico oil spill, quickly earning a reputation as a CEO with a steady hand. Newman also had to contend with two members of the 12-member board who represent activist investor Carl Icahn, who demanded a big dividend increase in 2013 and then saw it slashed by 80 percent this month in response to a sharp market downturn.
19 February, 2015 by The TZ Newswire Staff Comments Off on Fill her up! How whisky could fuel your car
Fill her up! How whisky could fuel your car
The by-products of a world class Scottish icon – whisky – are being used to create a next-generation biofuel. Here’s how?