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Kenner, Louisiana, mayor reverses his Nike ban - Dotemirates
2 month 2 day

Kenner, Louisiana, mayor reverses his Nike ban

KENNER, La. - The mayor of a New Orleans suburb says he's rescinding his order banning his city's recreation department from purchasing Nike products for use at city recreation facilities. Kenner Mayor Ben Zahn said at a news conference Wednesday that he did so on the advice of the city attorney and because the order had divided the city. Last week's order from Zahn came days after the athletic apparel maker began using former San Francisco 49ers quarterback Colin Kaepernick in an ad campaign. Kaepernick ignited a firestorm in 2016 when he began kneeling during the national anthem to protest...


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Business News

8 minute 18 second

Adnoc wants to rival oil majors as it expands in refining, gas

ABU DHABI: Abu Dhabi National Oil Co. (Adnoc) will remain wholly owned by the Abu Dhabi government and has no plan to go public, but the firm aspires to compete with Big Oil by expanding in refining and gas, Adnoc’s CEO told Reuters.Adnoc, which announced two gas deals with France’s Total and Italy’s Eni this week, will strike more agreements in that sector and seek investment opportunities abroad in liquefied natural gas (LNG), Sultan Al-Jaber said.“Adnoc will continue to be wholly owned by one and only one shareholder, and that is the Abu Dhabi government,” Al-Jaber said.But the company will...
10 minute 17 second

Oman regulator suspends KPMG from new auditing work over ‘irregularities’

DUBAI: Oman’s securities regulator said on Wednesday it has suspended audit firm KPMG from doing new work for a year after finding major financial and accounting irregularities at some listed companies.The Capital Market Authority (CMA) took corrective steps at those companies to protect investors, it said in a statement without naming the firms or giving other details.A review by the CMA “established professional negligence on the part of some audit firms that warranted disciplinary measures against them in the interests of the investors and other stakeholders,” the CMA said.It is another setback for KPMG, which is under scrutiny after losing...
12 minute 27 second

Emaar is ‘most recommended’ brand in KSA, says YouGov survey

LONDON: Emaar has claimed top spot in a list of most recommended brands in Saudi Arabia, according to a YouGov survey.The Dubai-based developer, more associated with its home emirate than the Kingdom, nevertheless raced up from fifth position last year and bumped airline Emirates from the top spot into second place.The rankings reflect a mix of brands including travel, real estate, consumer goods and financial services, YouGov said.“Brand advocacy is an indicator of a brand’s performance in terms of customer service and satisfaction,” said Scott Booth, the regional head of YouGov BrandIndex.“A recommendation from friend or family is one of...

29 minute 41 second

Wall Street is worried that a $1 billion acquisition will allow Virtu to spy on clients, but the firm has a big plan to quell those anxieties

Virtu Financial got its start in the secretive world of high-frequency trading. But in recent years it has been trying to break into a business dominated by Wall Street's bulge bracket banks: buying stock on behalf of large asset-management clients such as hedge funds and pension firms. The acquisition of New York broker dealer ITG for $1 billion, which Virtu announced last week, could position the firm for success in those businesses. It's not its first large deal. In 2017, the firm acquired KCG which opened Virtu up to global quant strategies in equities and futures. That acquisition was viewed...
45 minute 5 second

Trump Today: President makes hyperbolic claims about voting in interview

President Donald Trump on Wednesday made hyperbolic claims about voter identification, as he renewed an attack against CNN reporter Jim Acosta and said he was hopeful the White House would beat a lawsuit filed by the network. VOTER ID AND CEREAL With recounts underway in Florida’s Senate and gubernatorial races, Trump told conservative news outlet the Daily Caller that a county elections supervisor should be fired and suggested Republicans sometimes lose elections due to illegal voting. He falsely claimed that “if you buy a box of cereal — you have a voter ID,” and asserted without evidence that individuals vote...
46 minute 31 second

Bill to protect Mueller investigation stymied in Senate

A motion to get a vote on a bill that would protect Special Counsel Robert Mueller's investigation into the connection between the Trump presidential campaign and Russia failed after an objection from Senate Majority Leader Mitch McConnell. Unanimous consent was needed to get the bill to the floor. Sen. Jeff Flake, the Arizona Republican, said he won't vote to advance or confirm any judicial nominee until his bill gets a vote. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.