News on Permanent Portfolio Fund (PRPFX)Monday February 8th 2016
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Monday February 8th 2016: Latest financial news from the worldBrixmor Property's top executives exit after accounting review
(Reuters) - Shopping center operator Brixmor Property Group Inc said three of its top officers, including its chief executive, had resigned after an internal accounting review showed discrepancies in the company's financial statements. "The board is disappointed to have learned of the conduct and lack of appropriate management supervision uncovered as a result of the Audit Committee review," Chairman John Schreiber said in a statement. Brixmor said it would not have to restate its historical financial statements as the impact of the discrepancies was not material to the results.
Volkswagen to offer generous compensation for U.S. customers: fund head
Volkswagen will offer generous compensation packages to the roughly 600,000 U.S. owners of diesel vehicles whose emissions are over the legal limit, the head of its claims fund told a German paper. The German car maker has still not decided whether vehicle owners will be offered cash, car buy-backs, repairs or replacement cars, Kenneth Feinberg told the Frankfurter Allgemeine Sonntagszeitung. On Friday, Volkswagen postponed the publication of its 2015 results and delayed its annual shareholders' meeting as it struggles to put an exact price on its emissions scandal.
Wall St. set to extend selloff on global growth fears
(Reuters) - Wall Street was set to open lower on Monday, continuing a technology-led selloff from Friday, as fears of a global economic slowdown worsening and dropping oil prices continue to rattle investors.
U.S. retail sales and Yellen testimony in focus
Global markets have been in turmoil since the start of the year, with stocks and commodities prices reeling, eroding inflation and making central banks increasingly dovish - a trend that could continue with more weak economic data. China, a focus of much of the recent market concern, released foreign reserves data on Sunday which showed the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows. The country's foreign reserves fell $99.5 billion to $3.23 trillion in January, the lowest level since May 2012, central bank data showed.
India introduces net neutrality rules barring Facebook's free Internet
By Sankalp Phartiyal and Himank Sharma NEW DELHI/MUMBAI (Reuters) - India introduced new rules on Monday to prevent Internet service providers from having different pricing policies for accessing different parts of the web, in a setback to Facebook Inc's plan to roll out a pared-back free Internet service to the masses. The new rules by the regulator came after a two-month long consultation process that saw Facebook launching a big advertisement campaign in support of its Free Basics program, that runs in more than 35 developing countries around the world. The program offers pared-down Internet services on mobile phones, along with access to the company's own social network and messaging services, without charge.
Oil prices slide, supply overhang in focus
Crude oil prices fell on Monday because of lingering concerns over a supply overhang and after a Saudi-Venezuela meeting showed few signs that steps would be taken to boost prices. Global benchmark Brent futures were down 68 cents at $33.38 at 7.12 a.m. ET, while U.S. crude futures lost 81 cents to $30.08. "There’s still a lot of concerns about the state of the crude oil stocks in the United States," said Olivier Jakob, oil analyst at Petromatrix.
Credit Suisse's Thiam wants his bonus to be cut up to 50 percent: report
Credit Suisse Chief Executive Officer Tidjane Thiam has asked the bank's board to cut his 2015 bonus by between 25 percent and 50 percent, the Financial Times reported on Monday, after the bank posted a 2.94 billion Swiss franc ($2.96 billion) loss last year. The Financial Times did not cite a source for the percentage that Thiam's bonus will be cut. Swiss newspapers on Sunday reported that Thiam had asked for his bonus to be reduced.
Volkswagen says is open to listing trucks business
Volkswagen AG's trucks business may pursue acquisitions or even a public listing, the company said on Monday, only days after the parent company was forced to delay publishing earnings in the wake of a diesel emissions scandal. "We're keeping all options open in regards to expanding overseas, about a possible takeover as well as about a stock market listing," a spokeswoman for Volkswagen trucks said on Monday, declining to comment on whether a full or partial separation from Volkswagen Group was a possibility. Volkswagen hired former Daimler manager Andreas Renschler in February 2014 to build a global trucks business by integrating the heavy goods vehicle operations of its Scania and MAN divisions, and combining these with Volkswagen commercial vehicles.
Prolonged oil slump sparks second wave of cuts to 2016 budgets
Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow. With oil prices firmly wedged in the low $30-per-barrel range, oil producers are deferring spending on new wells and projects. Eighteen of the top 30 U.S. oil companies by output have so far outlined their spending plans for 2016.
Celgene, Gilead Sciences shares could rise 30 percent: Barron's
The tumble in share prices for biotechnology stocks has created some buying opportunities, with drugmakers Celgene Corp and Gilead Sciences poised for a 30 percent rise over the next year, Barron's said. Celgene, which specializes in treatments for a blood plasma cell cancer called myeloma, could see double-digit growth for its Revlimid drug for years to come, with significant growth potential from overseas, Barron's said. Despite negative publicity related to high prices on its hepatitis-C drugs, Gilead Sciences' products often cure patients within months, the publication said.
Stocks edge lower in early trading on Wall Street
Stocks are edging lower on Wall Street in early trading as investors take little solace from the latest deal to deliver financial help to Greece and an increase in U.S. home prices.
Bank of England keeps interest rates steady
LONDON (AP) — The Bank of England has kept interest rates steady as it remains cautious about Britain's economic recovery.
'Red Dead Redemption' pays a brief visit to the Xbox One
Comcast blazes its own trail to a superfast Internet future
The OnePlus 2 now costs $349
The OLEDs are coming: But will LCD fight back?
Organic Light Emitting Diode (OLED) displays are now available not only in smartphones and televisions, but also laptops and PC monitors. We explore how OLED screen technology compares and competes with LCD products.
How to seamlessly use two numbers on your iPhone
Google's driverless cars: Now it powers up wireless charging tests
Worst tech mergers and acquisitions: Facebook and Instragram
A corporate merger, like a marriage, can yield a whole stronger than its parts -- or it can end in utter disaster. In ZDNet's ramp up to Valentine's Day 2016, we countdown the worst corporate romances in IT history.
Oracle posts Java patch for bug that could result in 'complete compromise' of Windows machines
Vallie offers to charge your EV before parking it in London
Superhero trailers touch down at Super Bowl 50
World's fastest mobility scooter hits record 107.6 mph
Universal human rights - the foundations of the Global Goals
This April will mark the third anniversary of one of the world's worst industrial disasters in history. In 2013, over 1,100 workers were tragically killed during the collapse of the eight storey Rana Plaza garment factory - a factory built on swampy unstable ground without the required legal inspections. These cases are not uncommon. Human...
The UK wants Google to test its self-driving cars in London
Watch 540 dancing robots celebrate Chinese New Year
Logitech's GROUP caters for bigger meeting rooms
Experiment to determine why astronauts feel weak back on Earth
Australian Parliament opens inquiry into innovation
The Standing Committee on Education and Employment has opened an inquiry to ensure Australia's tertiary system can meet the needs of a future labour force that is focused on innovation and creativity.
BOM ducks Senate's security breach scrutiny
Super Bowl 50: the ads, not the football
How perfect pancakes are helping prevent blindness
Jack Dorsey tries to quell #RIPTwitter outrage
Facebook Messenger has a hidden chess game
Optus retains highest complaints ratio
Iran: Back in Business and The New Best Friends
Iranian President Hassan Rowhani has been on a shopping spree in Europe to reap benefits from business deals worth billions of dollars. The red carpet was rolled out for him, and he was invited to some of the most esteemed locations on the continent to meet with business and political leaders.Despite human rights protests against Rowhani's...
Chip promises brain-like AI in your mobile devices
Ravens: Smart enough to be paranoid
Optus extends NFC payments to iPhone through sticker
Smallest-ever optical switch revolves around one atom
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