Bloomberg Canada’s economic growth unexpectedly faltered at the end of the third quarter, casting doubts on the strength of the nation’s recovery. Gross domestic product was little changed in September, according to a preliminary estimate from Statistics Canada, while the expansion was a less-than-expected 0.4% in August. Overall for the third quarter, the economy grew by 0.5%, or an annualised ...

Bloomberg US employment costs rise at the fastest pace on record in the third quarter as companies across a variety of sectors raised wages against a backdrop of labour shortages. The employment cost index, a broad gauge of wages and benefits, rise 1.3% from prior quarter, according to Labour Department data. The gauge increased 3.7% from a year earlier. Compensation ...

Bloomberg Facebook Inc is re-christening itself Meta Platforms Inc., decoupling its corporate identity from the eponymous social network mired in toxic content, and highlighting a shift to an emerging computing platform focused on virtual reality. “The metaverse is the next frontier,” Chief Executive Officer Mark Zuckerberg said in a presentation at Facebook’s Connect conference, held virtually. “From now on, we’re ...

Bloomberg Chinese electric vehicle startup Xpeng Inc unveiled details of new products and features including an assisted driving system, a faster charging infrastructure and a flying car as it signalled its intent to expand from its auto-manufacturing roots. The Guangzhou-based company also launched the prototype of a ridable robot horse at its so-called “Tech Day.” Xpeng said 60% of its ...

Bloomberg Pixel 6 is the latest smartphone to be released under the Google brand and the closest thing to an iPhone running Google’s Android software. It advances mobile photography with creative new uses of artificial intelligence (AI), but it ultimately falls short of competing with the world’s most popular handset. Controlling the operating system, hardware design and now also its ...

Bloomberg Toyota Motor Corp is kicking off its first series of electric vehicles bound for the global market with a battery-powered SUV that the Japanese automaker says embodies the reliability and efficiency underpinning the Toyota brand. The “bZ4X,” which resembles Toyota’s popular Rav-4, is set for release in North America, Japan, China and Europe in mid-2022, the company said. With ...

ABU DHABI / WAM Dr Noura Al Ghaithi, Official Spokesperson of the UAE Health Sector, has said the UAE has achieved new successes in addressing the coronavirus (Covid-19) pandemic and strengthened its global stature in few months. During the UAE government media briefing on the Covid-19 pandemic, Al Ghaithi stated that the vital sectors had demonstrated a high level of ...

ABU DHABI / WAM Dr Anwar Gargash, Diplomatic Adviser to the UAE President, has discussed with Hans Grundberg, Special Envoy of the United Nations (UN) Secretary-General for Yemen, the UN efforts to reach a political solution to end the Yemeni crisis. The meeting dealt with developments related to the Yemeni dossier and efforts made by the UN and relevant nations ...

Dubai / WAM The Dubai Airport Freezone Authority (Dafza) welcomed a delegation from the Korean Economic Zone Planning Office to review future cooperation prospects, and to facilitate an improved trade and investment exchange between the UAE and South Korea. The delegation was received by Dr Mohammed Al Zarooni, Director-General of Dafza; and Amna Lootah, Assistant Director-General of Dafza. The South ...

ABU DHABI / WAM The Abu Dhabi Investment Office (ADIO) and Etisalat have announced a strategic partnership that will increase access to Abu Dhabi’s investment and innovation ecosystem for the private sector. The partnership combines ADIO’s support services with Etisalat’s innovation capabilities to deliver opportunities for businesses in the emirate. With its significant investments in cutting-edge infrastructure and smart technologies, ...