Finance

New Zealand government warns its citizens they may face arrest if they fly home for Christmas

AS IF Kiwis needed a reason not to cross the ditch this Christmas, they’ve just received an extraordinary warning from their government. Those New Zealanders who have not paid off their student loans are at risk of being arrested at the airport if they seek entry to their mother country. It seems tens of thousands of Kiwis that migrate to ... Read More »

Tech firms’ 2015 reviews: what they tell us … and what they didn’t say

Tech firms had lots to celebrate in 2015, but not everything went well. Photograph: James Russell / Alamy/Alamy   You probably wouldn’t bang on about your galloping gout or your teenager’s arrest for grand larceny in a round-robin letter at Christmas. So why should technology firms be any different? Most end-of-year reviews from technology companies emphasise the positive, from the ... Read More »

Why all the fuss about this mysterious encrypted currency?

Bitcoin is an online currency that allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties.   AUSTRALIAN Federal Police yesterday raided a Sydney home and office that, according to technology websites, belongs to the founder of the virtual currency, bitcoin. But the origin of ... Read More »

Gold recovers from biggest dip in 5 months after Fed rate rise

Gold jewellery is seen displayed for sale at a shop in a gold market in Basra, southeast of Baghdad February 14, 2015. Picture taken February 14, 2015.   Gold edged higher on Friday, recovering from its biggest daily loss in five months as stocks and the dollar retreated, but remained near multi-year lows after the U.S. Federal Reserve lifted interest ... Read More »

American Express can enforce anti-steering rules – court

American Express Co (AXP.N) can once again enforce its rules prohibiting merchants from steering customers to other credit cards after an appeals court temporarily lifted an earlier court order on Friday. The 2nd U.S. Circuit Court of Appeals is currently weighing American Express’ appeal of the earlier order, handed down by a lower court in April. It decided to lift ... Read More »

Turing CEO Shkreli replaced by chairman after fraud bust

Martin Shkreli (C), chief executive officer of Turing Pharmaceuticals and KaloBios Pharmaceuticals Inc, departs the U.S. Federal Court after an arraignment following him being charged in a federal indictment filed in Brooklyn relating to his management of hedge fund MSMB… Martin Shkreli, the poster boy for large prescription drug price increases, has stepped down as chief executive of Turing Pharmaceuticals, ... Read More »

Exclusive – Target in initial development of own mobile wallet: sources

The sign outside the Target store is seen in Arvada, Colorado in this January 10, 2014 file photo.   Target Corp (TGT.N) is in the early stages of developing its own mobile wallet, three people familiar with the matter said, joining Wal-Mart Stores Inc (WMT.N) in posing a threat to recent entrants like Apple Pay. The fourth-largest U.S. retailer has ... Read More »

Sliding oil prices could smudge year-end stocks rally

The Wall Street sign is seen outside the New York Stock Exchange, March 26, 2009.   With Wall Street heading into its usually buoyant year-end period, continued weakness in oil prices presents a major wildcard that could spoil any holiday cheer for stock investors. With seven full trading days left in the year, plus a shortened Christmas Eve session, some ... Read More »

India and Russia eye nuclear, helicopter deals before Modi’s Moscow visit

Prime Minister Narendra Modi delivers a speech during the opening session of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris, France, November 30, 2015.   Prime Minister Narendra Modi is expected to promote deals for Russian nuclear reactors and military helicopters worth billions of dollars on a trip to Moscow next week, attracted by promises to ... Read More »

Volkswagen chairman eyes job rotation for key roles – Welt am Sonntag

Former CFO and new Chairman of Volkswagen Hans Dieter Poetsch addresses a news conference after being appointed by Volkswagen’s Supervisory board at the company’s headquarters in Wolfsburg, Germany October 7, 2015. Volkswagen plans to limit the time staff can remain in certain roles, its supervisory board chairman told a German weekly, in a step to improve oversight at the German ... Read More »