Earlier this week, I commended Snapchat for bucking Silicon Valley convention and going public at a relatively young age, while other high-profile startups such as Uber do everything possible to avoid IPOs. After seeing parent company Snap Inc.’s financials and its strategy, I have changed my mind. Snapchat would have been better off staying in the lush forest of ...

  Jean-Claude Trichet, the European Central Bank’s former president, used to argue that one of the euro’s greatest achievements was driving government borrowing costs down to match those of Germany, the region’s benchmark borrower. In recent weeks, however, fissures have emerged that reflect investor concern about the political and economic outlook for at least three of the common currency’s members. ...

  DUBAI / Reuters Saudi Arabia’s stock market fell in a broad-based decline on Sunday and political tensions helped to pull down Kuwait, while United Arab Emirates bourses rose. The Saudi index closed 0.7 percent lower with decliners outnumbering advancers by 121 to 29. Atheeb Telecom , which jumped last week on news of a deal to sell part of ...

Bloomberg Just when Wall Street was starting to wonder whether President Donald Trump really would be good for business, the new administration is delivering on bankers’ wish lists and sending shares of the biggest US financial companies soaring. Trump signed two directives aimed at starting the process of rolling back restrictions put in place to prevent another financial crisis. Among ...

  Bloomberg US stocks rose the most in a week after Labor Department data showed US employers in January hired the most workers in four months. Financial shares rallied on the prospect of looser financial regulations. Banks posted the best day since mod-November as President Trump prepares to sign executive orders on deregulation and an examination of the Dodd-Frank act. ...

  Dubai / Emirates Business Mashreq, the market leader in innovation, recently added two new advanced safety features to its Card Control service, integrated to its award-winning mobile banking app – Mashreq Snapp. Both the features are launched for the first time in the UAE. The two new features ‘Block by Country’ and ‘Block by Merchant Category’ are aimed at ...

  AP Deutsche Bank, Germany’s largest lender, has apologized in full-page German newspaper ads for misconduct that has cost the company billions. The ad, signed by CEO John Cryan on behalf of the bank’s top management, ran in the Frankfurter Allgemeine Zeitung and the Munich-based Sueddeutsche Zeitung. The bank said its past conduct “not only cost us money, but also ...

  Bloomberg The pound snapped a two-day rally and gilts rose after the Bank of England (BoE) signaled that a policy tightening wasn’t imminent. Sterling rose initially after the central bank said that some within its committee had become more concerned about accelerating inflation and that they were “closer to those limits” of tolerance. It reversed gains after a fuller ...

  Bloomberg Salespeople of all stripes know the drill. Go to the morning pump-up sessions. Hit the revenue targets. Move product or move along. The playbook for selling everything from phones to time shares also crops up in a rarefied environment — the Manhattan offices of JPMorgan Chase & Co.’s elite wealth-management unit. There, private bankers working with JPMorgan’s richest ...

  Bloomberg The White House announced a contract for 90 F-35 jets from Lockheed Martin Corp. valued at as much as $8.2 billion, boasting of savings after President Donald Trump chided that the Pentagon’s costliest program was “out of control.” Based on the per-plane cost, the savings will be $728 million compared with the previous contract, according to a Pentagon ...