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Oxfam report shows widening inequality, Labour blames govt

And over the next 20 years, 500 people will give their heirs $2.1 trillion - more than the GDP of India, a country of 1.3 billion people. Oxfam - described this gap as "obscene" said that the if this new data had been available earlier, would have shown that in 2016, 8 - 9 people would own the same as 3.6 billion who make up the poorest half section of humanity.

Business

United Kingdom inflation beats with 1.6% y/y - GBP/USD wobbles

The Office for National Statistics said the Consumer Price Index measure of inflation hit 1.6%, up from 1.2% in November. Tom Stevenson, investment director for Personal Investing at Fidelity International, said: "Inflation is back with a vengeance".

Business

XP Power Ltd. (XPP) Upgraded by Peel Hunt to Buy

Intermediate Capital Group plc (LON:ICP) had its target price boosted by J P Morgan Chase & Co from GBX 775 ($9.35) to GBX 830 ($10.01) in a report released on Tuesday. The company's market capitalization is GBX 494.57 million. TRADEMARK VIOLATION NOTICE: This piece was first published by Community Financial News and is the propert of of Community Financial News.

Business

Reliance Industries Q3 net profit up at Rs. 7506 crores

Reliance Retail, the retail division of Mukesh Ambani-led Reliance Industries, reported a robust 40% jump in profit before depreciation, interest and taxes (PBDIT) in the third quarter ending December 31 for financial year 2017 as compared to the same quarter last year, the company said in its earnings announcement.

Business

Hunt for missing flight MH370 called off

In a joint-statement, they said: "Despite every effort using the best science available. the search has not been able to locate the aircraft". The search organization, run jointly by the governments of Malaysia, Australia and China, lauded the commitment of searchers in the face of what called an "unprecedented challenge".

Business

Trump Lashes Out at Europe, Proposes Nuclear Deal with Russian Federation

Previous reports had suggested Russian Federation was expecting sanctions relief more or less as soon as Trump took office. America's longtime friends, GOP politicians have said , are no longer sure they can count on support from the United States as a result of Obama's foreign policy.

Business

CEOs foresee growth amid murkey global picture

Just under 30% of CEOs expect global economic growth in the coming year, compared to 27% a year ago. The number of business leaders who expected to increase their staff headcount over the next 12 months grew from 48 per cent in 2016 to 52 per cent, while 16 per cent expected to cut staff, overwhelmingly due to technology and automation making jobs obsolete.

Business

NCLT reserves order on contempt plea by Cyrus Mistry's family firms

Tata Sons, its Interim Chairman Ratan Tata, directors Amit Ranbir Chandra, Ishaat Hussain, Ajay Piramal and Venu Srinivasan, among others, are the respondents in the case filed before NCLT . In his petition, Mistry had also sought the prevention of issuance of securities by Tata Sons that would dilute the stake of the two investment companies through which Mistry had filed the case.

Business

Alexis Sánchez's Disgusted Reaction To Being Subbed In Arsenal's Win Against Swansea

Arsenal manager Arsene Wenger has taken a jibe at Chelsea's current situation regarding Diego Costa. His decision to leave home at the age of 15 to play in the Basque country was one that gave him independence and showed his drive to succeed.

Business

Iranian oil price falls 9 cents per barrel in a week

Some important non-OPEC producers, including Russian Federation, have said they will also cut output. Top exporter Saudi Arabia and Kuwait said they had cut production by more than their commitment. Mohammed Al-Sabban, former senior adviser to the minister of petroleum, told Arab News: "Despite the continued improvement in prices in the past week, an extension of the optimism that began with the OPEC agreement at the end of a year ago, the second active week of the deal witnessed a wave of ...

Business

Samsung S Health Reportedly Getting Video Doctor Appointment Feature

In other news, grass is green and the sky still appears to be blue. Samsung initially announced a recall of some 2.5 million Note 7 phones in September and identified the cause of the fire as a manufacturing process problem at one of its suppliers, later identified as affiliate Samsung SDI Co Ltd.

Business

Airbus to have 'flying car' prototype ready in 2017, according to CEO

The company's current plans of having a single-passenger craft in the air within the next 12 months are ambitious, but seemingly within the realm of possibility, so grab your air sickness bag and strap in because the future is just around the corner.

Business

Biden Says Russian Sanctions Should Stay After Trump Takes Over

Ukraine will never submit to Russian aggression and return to being a vassal of the Russian empire, Ukrainian President Petro Poroshenko has told US Vice-President Joe Biden, who has visited Ukraine just days before his term ends. "I hope the next administration will also want to be a supporter and a partner in your continued progress but as you know no one else can do the hard work but the Ukrainian people".

Business

For China, Tillerson's South China Sea remarks increase concerns over Trump

In another affront, Trump spoke by telephone with Taiwan President Tsai Ing-wen after his election previous year, in a historic break with USA diplomatic precedent. Yan said, would also be seen as a huge step inside China, since it would suggest Beijing has stepped back from demanding USA respect for what is seen as a foundational sovereignty issue.

Business

Saudi to launch $30-50 billion renewable energy programme soon

Saudi Arabia and other Gulf monarchies have been looking into ways to cut their energy bills and diversify their power sources away from oil, their main export commodity. "This will only delay any real market balancing, and will put a strain on current oil prices, which might also come under pressure given global trade uncertainties following a Trump presidency's commitment to renegotiate trade agreements".

Business

Europe's fate 'in our own hands', says Angela Merkel after Donald

The president-elect has frequently derided Syrian refugees as a "Trojan horse" for terrorists ― and once officially proposed banning all Muslims from entering the US, but later said he would like to ban people from certain countries, mostly majority-Muslim ones.

Business

Congress completes first step toward Obamacare repeal

Nine Republicans crossed party lines and voted with their Democratic colleagues. Some Republicans, including members of the conservative House Freedom Caucus and more moderate members of the GOP conference, wavered on voting in favor of the resolution due to concerns about a replacement plan or disappointment that the resolution that does not attempt to balance the budget.

Business

'To go 'bing bing bing' on Twitter even after becoming Prez'

President-elect Donald Trump will continue to use his personal Twitter account as president to counteract the "dishonesty" of the press. According to the Sunday Times , Trump noted his huge social media following, and spoke about keeping his Twitter account in order to publish the things Trump wants to tell the public in 280 characters.

Business

Palestinian embassy denies Maimane planning Palestine visit

Obama, who leaves office on Friday, said Israel's settlements had made it harder to imagine a contiguous, effective Palestinian state , seen as key to a long-sought two-state solution to end the Israeli-Palestinian conflict. According to the report , the document calls for "two states, Israel and Palestine, living side by side in peace and security". Netanyahu dismissed the talks as rigged and the "last twitches of yesterday", a reference to the changing of the political guard in ...

Business

Air India to introduce women-only seats on board planes

The new seating arrangements are being rolled out after two women reported being groped on Air India flights within the space of fortnight, the Times of India reports. Less than two weeks later, a female flight attendant said she was molested by a male passenger on board an Air India flight from Oman to Delhi. This will be the first time in recent years that the airline will be launching such a route.

Business

Australian energy group backs Li Ka-shing takeover

A group led by Hong Kong billionaire tycoon Li Ka-shing's infrastructure business said Monday it is buying Australian energy company Duet in a multibillion dollar deal. The Duet deal would be Mr Li's biggest acquisition in the nation, according to data compiled by Bloomberg. But Power Assets, which has energy projects in Hong Kong, mainland China, Europe, Canada, Australia, and New Zealand may still have more than HK$40 billion cash after distributing the HK$10.67 billion special dividend ...

Business

Germany defends vehicle industry after Trump assault

Imposing tariffs would make the American vehicle industry "worse, weaker and more expensive", he added. "I would wait and see what the Congress has to say about that, which is mostly full of people who want the opposite of Trump". German Vice Chancellor and Economy Minister Sigmar Gabriel on Monday warned US President-elect Donald Trump not to slap punitive tariffs on imports from carmakers like BMW , Daimler and Volkswagen .

Business

Trump stimulus set to boost United States growth

According to IMF's World Economic Outlook (WEO) report, Nigeria's GDP will grow by 0.8 percent in 2017 - 0.2 percentage points less than the World Bank's outlook. The Fund trimmed its fiscal 2017-18 forecast for India to 7.2 percent from 7.6 percent. "Preliminary third-quarter growth figures were somewhat stronger than previously forecast in some economies, such as Spain and the United Kingdom, where domestic demand held up better than expected in the aftermath of the Brexit vote".

Business

Ray-Ban owner Luxottica in £44bn merger with French lenses giant Essilor

The combined group, to be known as EssilorLuxottica, will have annual sales of more than 15 billion euros and employ a workforce of 140,000 worldwide. Italy's Luxottica , which has 80,000 staff and also owns Oakley and Sunglass Hut with licensing deals for Versace glasses, is uniting with opticians' favourite Essilor .

Business

Northern Ireland Secretary calls for defence of power-sharing as elections loom

Simon Hamilton, the Stormont economy minister, has suggested capping annual payments made under the Renewable Heat Incentive (RHI) programme from April 2018. Northern Ireland Secretary James Brokenshire. We still remain absolutely committed to triggering the Article 50 process by the end of March. Campaigners have warned it would be impossible to stick to the timetable if the Northern Irish Assembly is not sitting.

Business

Boeing, SpiceJet in $22bn deal for 205 planes

SpiceJet has about 13 percent of market share in the Indian aviation passenger market while market leader IndiGo has 40 percent. SpiceJet said it had signed a deal for buying up to 205 planes from Boeing - worth up to $22 billion at list prices - but the announcement includes 55 jets already announced in a 2014 deal and the possible follow-on order of 50 more.

Business

The ICAP plc (IAPLY) Cut to Hold at Numis Securities Ltd

Deutsche Bank AG reaffirmed a "hold" rating and issued a GBX 350 ($4.26) target price on shares of Marks and Spencer Group Plc in a research report on Tuesday, December 20th. If you are accessing this story on another website, it was stolen and reposted in violation of USA and global copyright laws. In other Marks and Spencer Group Plc news, insider Patrick Bousquet Chavanne bought 2,700 shares of the firm's stock in a transaction that occurred on Tuesday, November 15th.

Business

December's wholesale price index rose to 3.39%, says government

The index for primary articles (weight 20.12 per cent) declined by 1.2 per cent to 256.3 from 259.4 for the previous month. Food inflation, however, recorded a sharp year-on-year fall at (-) 0.70 percent in December 2016 from 7.89 percent in the same month of 2015.

Business

Ever bought milk in Arizona? You have some money coming your way

Thanks to a class action settlement, anyone in D.C. who has purchased milk or milk products since 2003 may be entitled to a payment. This antitrust lawsuit alleges a nationwide conspiracy by CWT and its members to limit the production of raw farm milk by prematurely slaughtering cows, in order to illegally increase the price of milk and other fresh milk products.

Business

A bleak prediction for peace between Israel and Palestine

French President Francois Hollande said Sunday's conference aims at ensuring the support of the global community for the two-state solution as a reference for future direct negotiations. Another variable in any two-state solution is the role of the US, Israeli's staunch ally. And, in fact, the resolution made no reference to a further Security Council resolution, or the establishment of a follow-up mechanism to this conference.

Business

Khaidi No 150 5th Day Box Office Collection : Chiranjeevi movie…

Ram Charan and the mega camp has always been following this technique from a long time and has been picking directors who could give their heroes some new lease of life with every film of theirs. Due to strong content, written by the very promising filmmaker AR Murugadoss, this V.V.Vinayak's directorial Khaidi No. 150 has received positive reviews from critics as well.

Business

World's eight richest people have same wealth as poorest 50%

New research released today by Oxfam shows that the richest one percent of New Zealanders hold 20 percent of the country's total wealth, while 90 percent of the population account for less than half the nation's wealth. The organization said that its earlier calculation that 62 people had the same wealth as 50 percent of the world's population was, in fact, incorrect as new data on wealth distribution from China and India had been revealed.

Business

Petrol price up by 42 paise, diesel by Rs 1.03 a litre

Refineries charge deemed duty on diesel but there is no duty on kerosene oil. State oil companies have raised the prices of petrol by 42 paise per litre and diesel by Rs 1.03 per litre after the fortnightly review to align local prices with global rates.

Business

Labour's Tristram Hunt to quit as MP and take over museum

Vocal critic of Labour leader Jeremy Corbyn. He described his time as an MP as both rewarding and intensely frustrating but said that his decision was not aimed at destabilising Mr Corbyn's leadership. With a name like Tristram and an affinity for patriotism it easy to see why Hunt may have been out of step with certain elements of the current Labour party.

Business

Oil prices drop on OPEC deal concern

Kuwait too has cut its oil exports by more than 133,000 bpd, Kuwaiti Oil Minister Essam Al-Marzouq said. The ministry has set a daily average production target of 970,094 barrels. Both crudes have firmly held above $52 a barrel this year, faring far better than the average price of $41 a barrel for light crude and $39.19 for heavy oil in 2016.


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