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Abu Dhabi oil IPO cheers market starved of new listings

For the first time in six years, the stock market in Abu Dhabi has a new addition. The state oil producer — Abu Dhabi National Oil Company — floated 10% of its retail distribution subsidiary on Wednesday in an initial public offering that raised $851 million. The shares soared as much as 16% on their debut, before closing 6% above More...

by kradzcalypse | Published 16 hours ago
By kradzcalypse On Tuesday, December 12th, 2017
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Coming soon to Saudi Arabia: AMC movie theaters

Hours after Saudi Arabia lifted a 35-year ban on cinemas, the world’s biggest movie theater chain jumped on the opportunity. AMC signed a memorandum of understanding with Saudi Arabia’s sovereign More...

By kradzcalypse On Monday, December 11th, 2017
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Saudi Arabia lifts 35-year ban on movie theaters

Saudis will soon be able to go to the movies for the first time more than 35 years. From early next year, commercial movie theaters will be granted licenses, Saudi Arabia’s Ministry of Culture and Information More...

By kradzcalypse On Saturday, December 9th, 2017
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A warning about bitcoin’s wild price swings

The person atop one of cryptocurrency’s most popular exchanges pleaded with people to invest responsibly. In a blog post on his site, Coinbase CEO Brian Armstrong sought to “remind customers of More...

By kradzcalypse On Friday, December 8th, 2017
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Hedge fund manager: Trump asked me if Amazon is a monopoly

President Trump’s beef with Amazon came into view again this week. Hedge fund billionaire Leon Cooperman of Omega Advisors, in a television interview on CNBC Thursday, spoke of a comment he says Trump More...

By kradzcalypse On Friday, December 8th, 2017
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What to look for in the November jobs report

The monthly jobs report — one of the most closely watched measures of the U.S. economy — is due out Friday morning. Here are four questions to consider when the numbers come out at 8:30 a.m. ET: How More...

By kradzcalypse On Thursday, December 7th, 2017
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GE is cutting 12,000 jobs

General Electric is cutting 12,000 jobs as its new CEO tries to turn the troubled company around. The jobs are in the electrical power division, which makes the giant turbines and generators that the company More...

By kradzcalypse On Wednesday, December 6th, 2017
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More than a million children could lose their health insurance next year

More than a million lower-income children are at risk of losing their health insurance next year if Congress doesn’t act soon. Federal funding for the Children’s Health Insurance Program ran out More...

By kradzcalypse On Tuesday, December 5th, 2017
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Self-driving taxis are coming to Japan

Nissan is bringing self-driving cabs to the streets of Japan. The company announced Tuesday that it plans to test autonomous taxis in March near its headquarters in Yokohama. Nissan (NSANF) will use two of More...

By kradzcalypse On Monday, December 4th, 2017
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Is Trump keeping his promises on manufacturing?

In President Trump’s first year in office, American factories are adding jobs at the fastest pace since 2014. But that’s not just because of Trump. Lots of factors have contributed to the comeback More...

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