Bloomberg Bank of Montreal (BMO) picked Amazon.com Inc’s web-services division as its preferred cloud provider to help the bank modernize operations and introduce new digital applications. The deal includes using Amazon Web Services technology for the bank’s call centers and for remote-work tools for its employees, as well as employing the tech firm’s machine-learning capabilities, Seattle-based Amazon said. Financial terms ...

Bloomberg The Bank of Japan (BOJ) is seen standing pat on its main policies at next week’s meeting, while tinkering on the margins of its toolkit by extending aid for pandemic-hit businesses as the country’s fight against the virus drags on. Some 89% of 44 economists surveyed by Bloomberg see the BOJ keeping in place its negative interest rate and ...

Bloomberg TikTok is selling its most valuable real estate for $2 million. The short-form video app is asking for more than $1.4 million for a takeover of its home page in the US during the third quarter, according to a document obtained by Bloomberg News. That figure will jump to more than $1.8 million in the fourth quarter — and ...

Bloomberg Amazon.com Inc, Apple Inc and other US technology giants would have to sell or exit key businesses under sweeping antitrust legislation proposed by House lawmakers. The proposal is among a series of bills by House Democrats and Republicans that would place significant new constraints on how tech platforms run their businesses and give antitrust enforcers more legal authority to ...

Bloomberg Lamborghini said it’s almost sold out for the year as an easing pandemic unleashes a free-spending attitude among consumers confined to their homes for months. The Italian supercar brand is set for “strong growth” in 2021 and has sold about 10 months of its production capacity, Chief Executive Officer Stephan Winkelmann said in an interview at the Milano Monza ...

Bloomberg French investigators said Volkswagen AG has been charged in a fresh crackdown on alleged deception over diesel emissions that’s also embroiled rival Renault SA. VW was charged on May 6 and must now make a 10 million-euro bail payment and provide a 60 million-euro bank guarantee, an official at the Paris prosecutor’s office said in a statement. The announcement ...

Bloomberg Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG’s electric car division, to help lead its own vehicle efforts. The technology giant hired Kranz, about a month after he stepped down as chief executive officer of Canoo Inc, a developer of self-driving electric vehicles. Before co-founding Canoo, Kranz was senior vice president of the group ...

Dubai / WAM According to Coursera’s Global Skills Report 2021, the UAE ranks first in the Mena region and second globally in overall business skills, only after Luxemburg. This year’s study draws on performance data since the pandemic’s onset from more than 77 million learners on the platform to benchmark skills proficiency across business, technology, and data science for over ...

Bloomberg President Joe Biden’s blueprint for the US semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China. The White House outlined a sweeping plan to secure the conduits for critical ...

Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investment company, on Wednesday announced that it has joined the EIG-led consortium which has entered into a transaction with Saudi Arabian Oil Co (Aramco) to acquire a 49 percent equity stake in the newly formed entity Aramco Oil Pipelines Company. Mubadala said in a statement that Aramco will retain the remaining ...