Royal Bank of Scotland has taken a 3.1 billion pound ($3.92 billion) provision as it prepares to settle claims in the United States that it mis-sold toxic mortgage-backed securities in the run up to the 2008 financial crisis. The surprise provision means that RBS is unlikely to make a profit in 2016, the ninth straight year the bank has failed to make an annual profit. Jason Alden | Bloomberg | Getty Images RBS is currently in negotiations with the U.S. Department of Justice over the settlement, the timing of which is still uncertain. Chief Executive Ross McEwan has been trying…
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Chip Somodevilla | Pool via Bloomberg President Donald Trump’s pledge to scale back regulatory controls in the financial industry would be detrimental to everybody, according to the President of Germany’s financial regulator. Trump repeatedly pledged to repeal financial regulations throughout his election campaign and even vowed to repeal Dodd-Frank, which was passed after the financial crisis with the aim of limiting Wall Street’s ability to make risky investments. “If (deregulation equivalent to pre-financial crisis levels) were to happen I wouldn’t like it of course… I’m a regulator and a broad phase of deregulation would be a very bad thing indeed…
Check out which companies are making headlines before the bell: Comcast — The NBCUniversal parent reported adjusted quarterly profit of 89 cents per share, 2 cents above estimates, with revenue also beating forecasts. Comcast also announced a 2-for-1 stock split, a dividend increase of 15 percent, and an increase in its stock buyback program to $12 billion. Ford Motor — The automaker matched estimates with fourth quarter profit of 30 cents per share, while revenue was above Street forecasts. Ford’s full-year profit for 2016 was its second-best on record, trailing only its 2015 results. Southwest Airlines — Southwest earned an…
In a similar manner, the bench of Supreme Court headed by Chief Justice J S Khehar has also observed that these schools have to take permission from the government before hiking fees as they are on the land allotted by the Delhi Development Authority (DDA). Supreme Court RELATED STORIES After IIM bill, more central institutions could be granted autonomy: Javadekar Political changes in the US and UK have reduced the numbers of Indian students UP Class 10 Boards 2017: Date sheet released, exams to begin from March 16 School children in India need proper physical education MP High Court orders…
While some panel members suggested that institutions should be completely autonomous, some members suggested that the varsities should be mainly for minorities. Union Minority Affairs Minister Mukhtar Abbas Naqvi RELATED STORIES After IIM bill, more central institutions could be granted autonomy: Javadekar Political changes in the US and UK have reduced the numbers of Indian students UP Class 10 Boards 2017: Date sheet released, exams to begin from March 16 School children in India need proper physical education MP High Court orders cancellation of 856 BDS students for illegal enrollment In a high-level committee meeting chaired by Union Minority Affairs…
Google has cool technology to recognize images and speech, and IBM’s hardware can diagnose diseases and beat humans in Jeopardy. Combine the two, and you get a powerful computer with serious brains. IBM is merging Google’s artificial intelligence tools with its own cognitive computing technologies, allowing deep-learning systems to more accurately find answers to complex questions or recognize images or voices. Google’s open-source TensorFlow machine-learning tools are being packed into IBM’s PowerAI, which is a toolkit for computer learning. The two can be combined to improve machine learning on IBM’s Power servers. A computer learns as more data fed into…
Giving autonomy to IIMs is a “milestone” Javadekar said adding that while government will continue to provide funds for the development of these institutes but “sans government controls” In picture, Union HRD Minister Prakash Javadekar (File Photo) RELATED STORIES UP Class 10 Boards 2017: Date sheet released, exams to begin from March 16 Quality of education remain a challenge, but access to higher education improved: Venkaiah Naidu Instead of taking over private schools, improve public schools: Delhi High Court 10 districts awarded on National Girl Child Day for contributing towards woman empowerment DU: First public university to hoist On the…
Senior executives at Qualcomm slammed Apple on Wednesday for lawsuits filed in the last week alleging the smartphone chip-maker significantly overcharged it for licensing fees. The spat saw cases filed last Friday in California and this week in Beijing and were top of mind when Qualcomm conducted an earnings call with analysts on Wednesday. For 15 minutes, Qualcomm executives criticized Apple’s moves, calling the two lawsuits “without merit” and accused the iPhone-maker of trying to use them as a way to reduce the royalties the iPhone maker pays to Qualcomm. “Apple has been actively driving regulatory attacks on Qualcomm’s business in jurisdictions…
The war on insecure webpages has begun, and Mozilla fired the first shot. Recently, Mozilla rolled out Firefox 51 to its mainstream user base. With the new release comes an insecure warning on any page that offers a login form over an HTTP connection instead of HTTPS. Chrome plans to follow suit with version 56, expected to be released to mainstream users on Tuesday, January 31, as Ars Technica first pointed out. HTTP uses an open, unencrypted connection between you and the website you’re visiting that could be intercepted by anyone monitoring traffic between you and the site. For that…
Keeping to its usual schedule, MWC 2017 is now just about a month away. Excitement over at camp Sony is pretty high and the official event time is already set – February 27, at 7:30 GMT. There have been a few renders and photos floating about recently, but nothing really all that revealing. Well, a new source now claims to offer a lot of insight on Sony’s future lineup, with details for a whopping total of 5 smartphones, lined up for the event. The rumor comes courtesy of a quite shady site in Georgia, so you should probably break out…