Thursday, March 2nd, 2017

 

Senate Democratic leader says Attorney General Sessions should resign

Senate Democratic leader says Attorney General Sessions should resign

WASHINGTON (March 2): Senate Democratic leader Chuck Schumer said on Thursday that Attorney General Jeff Sessions had misled Congress over his contacts with a Russian official before the US presidential election and for the good of the country should resign.

“Attorney General Jeff Sessions had weeks to correct the record that he made before the Judiciary Committee but he let the record stand,” Schumer told a news conference.

“Because the Department of Justice should be above reproach, for the good of the country Attorney General Sessions should resign,” he said.

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Wall Street slips as investors take profits after record day

NEW YORK, March 2 — US stocks slipped today as investors booked profits after a record day on Wall Street that propelled the Dow Jones Industrial Average above 21,000 for the first time ever. Wall Street’s main indexes on Wednesday posted…


Oil down on record US crude stocks, flat Russian output

Oil down on record US crude stocks, flat Russian output

LONDON (March 2): Oil prices fell on Thursday after US crude stocks hit an all-time high and official data showed Russian oil production unchanged in February, with no further cuts to tighten the market and drain global oversupply.

Benchmark Brent crude oil fell US$1.06 a barrel to a low of US$55.30, before recovering to around US$55.70 by 1445 GMT. US light crude was 70 cents lower at US$53.13.

Crude inventories in the United States, the world’s biggest oil consumer, rose by 1.5 million barrels last week to a record 520.2 million barrels, official figures showed.

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Wall St slips as investors take profits after record day

Wall St slips as investors take profits after record day

NEW YORK (March 2): US stocks slipped on Thursday as investors booked profits after a record day on Wall Street that propelled the Dow Jones Industrial Average above 21,000 for the first time ever.

Wall Street’s main indexes on Wednesday posted their best day since the November election, boosted by President Donald Trump’s more measured tone in a speech to Congress and as bank stocks surged on increased chances of an interest rate hike this month.

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China’s Didi said to weigh raising billions in fresh capital

China's Didi said to weigh raising billions in fresh capital

(March 2): Didi Chuxing, the ride-hailing service that acquired Uber Technologies Inc’s China business last year, has held informal talks with investors about raising billions of dollars to buy more time to build a profitable business model, according to people familiar with the matter.

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Wanda’s Wang says UnionPay apps alliance answers Internet doubts

Wanda's Wang says UnionPay apps alliance answers Internet doubts

(March 2): Dalian Wanda Group Co and China UnionPay are planning to collaborate on mobile payment apps, as the conglomerate led by billionaire Wang Jianlin looks to revitalize its online business after a tie-up with China’s top Internet companies collapsed.

Wanda and UnionPay will develop a UnionPay cardholder service system and payment applications such as UnionPay QuickPass, which will be available in Wanda properties including supermarkets, theaters, hotels, theme parks and hospitals, Wanda said in a statement Thursday.

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TH Heavy former CEO faces two money-laundering charges

TH Heavy former CEO faces two money-laundering charges

KUALA LUMPUR (Mar 2): TH Heavy Engineering Bhd’s former chief executive officer Nor Badli Munawir Mohamed Alias Latfi faced two charges of money-laundering amounting to RM1 million in the Session Court today.

Bernama reported that Nor Badli pleaded not guilty to both of the charges read out to him before Judge Madihah Harullah.

Four years ago, Nor Badli allegedly received RM430,000 cash from Corak Intoil company director Mohd Razip Mohammad and another RM570,000 from RL Offshore director Hanaffi Daud, which were from illegal proceeds.

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Snap IPO values photo-chat app maker at twice Facebook’s worth

Snap IPO values photo-chat app maker at twice Facebook’s worth

(March 2): Snap Inc, maker of the disappearing photo app that relies upon the fickle favor of millennials, is going public at a valuation at least twice as expensive as Facebook Inc, and four times more costly than Twitter Inc.

Shares of the Los Angeles-based company will start trading Thursday on the New York Stock Exchange under the ticker SNAP. Chief Executive Officer Evan Spiegel is expected to be on the exchange’s floor for the open, with co-founder Bobby Murphy and Imran Khan, Snap’s chief strategy officer, also likely to make an appearance.

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North Korea ties at worst point in decades, South Korea says

North Korea ties at worst point in decades, South Korea says

(March 2): North Korea relations have fallen to their worst point in decades and talks are off the table until Kim Jong Un’s regime is ready to give up its nuclear weapons, South Korea Unification Minister Hong Yong-pyo said in an interview.

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Boycott on PepsiCo, Coca-Cola in Southern India in fight over water

Boycott on PepsiCo, Coca-Cola in Southern India in fight over water

(March 2): Retailers in India’s drought-hit southern state of Tamil Nadu stopped selling PepsiCo Inc and Coca-Cola Co’s sodas on Wednesday alleging that the companies were depleting ground water.

About 70% of the 1.5 million members of the local retailers association who stock carbonated drinks have stopped selling the two brands, AM Vikkramaraja, president of the group, said in a phone interview on Thursday. His association plans to convince all the members to boycott the drinks, he said. PepsiCo and Coca-Cola declined to comment on the matter.

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