Bloomberg Facebook Inc. has moved to wind down several Irish holding companies that had allowed it to shift billions of dollars in profit to the country, where it was lightly taxed, the Times of London reported, citing company documents. The Irish companies were used to hold its intellectual property for international sales, and Facebook companies around the world would pay ...

Bloomberg BMW plans to produce an additional quarter of a million electric cars in coming three years, according to the German automaker’s chief executive officer. CEO Oliver Zipse said in an interview with Augsburger Allgemeine newspaper. Electric vehicles will account for about a fifth of BMW’s sales by 2023, up from about 8% now, he added. Zipse said his “biggest ...

Bloomberg Promotions on foods high in fat, salt and sugar will be restricted in supermarkets and soft drink refills banned in England from April as part of a drive to cut obesity. Large and medium-sized retailers will no longer be allowed to offer “buy one get one free” or “three for the price of two” deals on unhealthy products, the ...

Bloomberg Sweden’s government hopes to have the power to impose lockdowns from January 10, if a bill submitted on Monday passes parliament. The temporary laws, if enacted, will give authorities the legal clout to shut down businesses and fine those infringing the restrictions put in place to slow the spread of the virus, according to the Minister of Health and ...

Bloomberg In a challenging year for Chinese companies pursuing acquisitions abroad, Latin America emerged as a region where they were able to make some corporate marriages work. Overseas acquisitions by Chinese firms are heading for their fourth consecutive yearly decline, with a $31.1 billion tally that’s the lowest since 2007, according to data compiled by Bloomberg. Transactions targeting Latin America ...

Bloomberg US equity futures and global stocks pushed higher on Monday after President Donald Trump signed a coronavirus stimulus package. S&P 500 contracts climbed after Trump backed down from last-minute demands and approved the combined $2.3 trillion Covid-19 relief and government funding package. Germany’s DAX Index climbed to a record and the MSCI Asia Pacific Index was up 0.4%. The ...

Bloomberg India stocks rise as inflows from foreign investors headed for a record quarter. The S&P BSE Sensex climbed 0.8% to 47,353.75 in Mumbai. The NSE Nifty 50 Index advanced 0.9%. Both gauges closed at fresh all-time highs. Indian equities have surged as part of a global shift by investors into emerging markets as countries begin rolling out vaccines. The ...

Bloomberg South Africa’s main equities index fall, led by Naspers Ltd and its Prosus NV unit after Hong Kong-listed Tencent Holdings slumped amid a widening Chinese antitrust probe of the technology sector. With a stake of about 31%, Prosus is Tencent’s largest shareholder. The benchmark FTSE/JSE Africa All Share Index falls 0.8% to 58,721 in Johannesburg, with cyclical sectors including ...

ABU DHABI / WAM The UAE is on the frontlines of combatting the spread of epidemics globally, and is one of the key supporters of the international efforts to prevent the spread of many viral diseases that pose serious threats to human safety. The UAE celebrated annual International Day of Epidemic Preparedness on December 27, which was launched by the ...

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, approved the Government of Dubai’s general budget for the fiscal year 2021, with total expenditures of AED57.1 billion. The newly-announced budget takes into account the exceptional economic conditions of the fiscal year 2020 and ...