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  • Outage at Bloomberg hits financial markets

    LONDON: A two-hour outage at news and market data provider Bloomberg LP hit financial markets around the world on Friday, prompting debt sales to be postponed and exacerbating a spike in volatility in European stocks...

    “We experienced a combination of hardware and software failures in the network, which caused an excessive volume of network traffic,” Bloomberg said in a statement...

  • China loses spot as world's No.2 stock market: Bloomberg

    Data from Bloomberg News in intra-day trade on Friday showed the value of equities on the mainland had slipped behind those in their neighbouring country for the first time since taking the number-two spot in 2014...

    “Losing the ranking to Japan is the damage caused by the trade war,” Banny Lam, head of research at CEB International Investment in Hong Kong, told Bloomberg News...

  • Potential US presidential candidate Bloomberg buys record amount of TV ads

    Former New York mayor Michael Bloomberg, an increasingly likely 2020 presidential candidate, plans to launch a $31 million television advertising campaign on Monday, in a move deemed anti-democratic by Bernie Sanders...

    Senator Bernie Sanders attacked the decision on Friday, tweeting he was “disgusted by the idea that Michael Bloomberg or any billionaire thinks they can circumvent the political process and spend tens of millions of...

  • Bloomberg formally announces US presidential candidacy

    Michael Bloomberg confirmed Sunday that he is running for president, joining the crowded field of Democrats seeking to take on his fellow New York billionaire, President Donald Trump...

    “I'm running for president to defeat Donald Trump and rebuild America,” Bloomberg, 77, said on his website as a $30 million Bloomberg ad campaign hit US airwaves...

  • Democrats bare fangs at Michael Bloomberg in fiery debate

    Former New York mayor Michael Bloomberg endured a punishing assault in his debut Democratic presidential debate on Wednesday from rivals who savaged him for parachuting in late and throwing astronomical amounts of money at the race...

    US media magnate Bloomberg found himself targeted from the start, as candidates from Sanders to former vice president Joe Biden impugned the man whose sudden prominence in polling has scrambled the race...

  • India, France sign Rafale fighter plane accord, but talks on price to go on

    But Hollande and his host, Narendra Modi, both said further talks were needed to finalise terms of the government-to-government deal, which the Indian prime minister had announced when he visited France last spring...

    ”Both leaders played up their interest in cooperation in the fight against international militant groups, with Hollande saying France and its allies would strike “again and again” against the militant Islamic State...

  • Telecom policy goals explained

    ISLAMABAD: Minister of State for Information Technology Anusha Rahman has said that telecommunication infrastructure of Pakistan provides supportive environment for sustainable growth...

  • Extra taxes to hurt telecom sector

    LAHORE: Telecom operators on Thursday urged the government to withdraw its decision to impose extra taxes on the telecom sector in the forthcoming budget...

    “Taxation on telecom sector in Pakistan is already one of the highest in the world...

  • FBR admits inability to collect telecom data

    ISLAMABAD: The Senate Standing Committee on Finance expressed its dismay over the Federal Board of Revenue (FBR) for being unable to collect withholding tax (WHT) properly from telecom companies...

    On Wednesday, the FBR representatives informed the committee that software and data collection of telecom sector was too complicated for tax officials to understand...

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