Bloomberg Walmart Inc isn’t the only corporation that has seen its Tesla Inc solar panels catch fire. Amazon.com Inc said a June 2018 blaze on the roof of one of its warehouses in Redlands, California, involved a solar panel system that Tesla’s SolarCity division had installed. The Seattle-based retail giant said by email that it has since taken steps to …

Bloomberg South Africa’s seizure of an Air Tanzania aircraft was linked to a land compensation claim that dates back to the 1980s, the East African nation’s government said. The case doesn’t involve the airline and is part of a wider dispute between Tanzania and Hermanus Steyn, a South African investor, Hassan Abbasi, a spokesman for the Tanzanian government, said in …

Bloomberg Kraft Heinz Co could end up as one of the biggest junk issuers if it doesn’t take its debt load by mid-2021. S&P Global Ratings said it could cut the packaged-food company to speculative-grade if it doesn’t boost earnings, pay down some of its more than $30 billion of long-term debt, or both. Roughly two-thirds of those borrowings currently …

RIYADH / WAM The joint government services training programme organised by the UAE and Saudi Arabia, titled, ‘UAE-Saudi Capacity Building Programme’, has begun in the Saudi capital, Riyadh. The programme aims to build the capacities of government services employees from the two countries, according to specialised services criteria and as part of their partnership, as represented by the Saudi-Emirati Coordination …

Bloomberg Donald Trump acknowledged having second thoughts on escalating the trade war with China — only for his top spokeswoman to later say he meant he regretted not raising tariffs even more. White House Press Secretary Stephanie Grisham now says the media misinterpreted Trump’s initial remarks. Trump doesn’t regret starting a trade war but he does have second thoughts on …

ABU DHABI / WAM Accommodation & Food Services contributed AED32.5 billion in real prices to the 2018’s GDP, a growth of 4.2 percent on year, according to Federal Competitiveness and Statistics Authority (FCSA). In real (constant) prices, the sector’s contribution to non-oil GDP reached 6.8 percent during 2018, maintaining the high momentum it has created over the past years, driven …

Bloomberg Global banks will this week start making their case on why they should be hired for what’s set to be the world’s biggest initial public offering (IPO), according to people with knowledge of the matter. Dealmakers representing advisory firms from around the world will from Tuesday travel to Saudi Aramco’s headquarters in Dhahran in the kingdom’s Eastern Province to …

Bloomberg Royal Dutch Shell Plc has been sued by Australia’s tax authority as the agency pursues multinational companies over tax avoidance, the Guardian reported. The Australian Taxation Office has been battling with Shell’s local subsidiary for six years regarding tax treatment of its stake in Browse gas project off the country’s northwest coast, the newspaper reported. The bill, estimated at …

Bloomberg A group led by Brazil’s Itausa Investimentos SA offered about $850 million for Petrobras’s bottled gas distributor. Petrobras said in a filing that Itausa, the holding company for Setubal and Villela families, in a consortium with Copagaz Distribuidora de Gas Ltda and Nacional Gas Butano, offered highest bid for Liquigas Distribuidora SA. The supplier of liquefied petroleum gas for …

Bloomberg Any reassurance markets got from the Federal Reserve in Jackson Hole was wiped out within minutes. A volley of acrimonious presidential tweets and a nastier turn in the trade war sent Treasury yields, stocks and the dollar skidding into the weekend. Hopes that the central bank could guide markets to a cool-headed assessment of the US economy now look …