Bloomberg The UK plans sweeping powers to intervene in foreign takeovers of British assets if deemed a threat to national security. A draft law would expand the range of transactions open to government intervention, the Department for Business, Energy and Industrial Strategy said. There will be scope for fines and retroactive interventions in deals that complete after the bill’s publication ...

Bloomberg Thyssenkrupp AG is in talks with the German government over an aid package for its struggling steel unit worth at least 5 billion euros ($5.9 billion), well exceeding the group’s current market value in a key push to secure its survival. Chancellor Angela Merkel’s government has signalled a willingness to provide financial support to shore up the unit and ...

Bloomberg UK unemployment rises the most since the financial crisis over the summer, raising questions about how many job cuts could have been avoided had Chancellor of the Exchequer Rishi Sunak announced an extension to his furlough program sooner. The number of people looking for work surged by 243,000 in the three months through September, taking the jobless rate to ...

Bloomberg Inflation sped up more than forecast in Mexico and Brazil as unrelenting food price increases defy central bank plans to support virus-ravaged economies with low interest rates. Mexico’s consumer prices rise further above the official target range in October as fruit and vegetable costs soared, according to data, while food costs drove Brazil’s fastest inflation rate for that month ...

Bloomberg Chinese technology giants from Alibaba Group Holding to Tencent Holdings shed almost $260 billion of market value over two days of frantic selling, as investors scrambled to assess the fallout from Beijing’s broadest attempt to rein in its most powerful private-sector firms. Technology shares tumbled for a second day after Beijing issued regulations designed to curb the growing influence ...

Bloomberg Stocks rise in Europe and Asia on Wednesday as investors continued a rotation into cyclical industries at the expense of technology shares. Crude oil rises. Gains in travel, energy and consumer stocks pulled the Stoxx Europe 600 Index higher at the open. Tech shares underperformed, including Dutch Internet provider Prosus NV and equities in Japan, Korea and Australia climbed ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) and ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, on Tuesday announced Ta’ziz as the name of the new joint venture (JV) established by both companies, which will drive the development of industrial projects ...

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) reported its first consolidated pro-forma financial results following its transaction with Abu Dhabi Power Corporation (ADPower) on July 1, announcing group revenues of AED30.8 billion during the first nine months of 2020. In addition to approving Taqa Group’s financial results, the Board of Directors approved an increase in the company’s ...

Abu Dhabi / WAM The first details of a dramatic live production to celebrate 49th UAE National Day on December 2 have been revealed on Tuesday by the Organising Committee of the Official 49th National Day Celebration. Named “Seeds of the Union”, the spectacular show will take the form of a moving sculpture surrounded by sea and illuminated by digital ...

Bloomberg Oil extended gains, following Monday’s rally on optimism that a potential Covid-19 vaccine could boost a recovery in transport demand. Crude futures in New York approached $41 a barrel, after advancing more than 10% at one point. It comes after early findings showed that a vaccine developed by Pfizer Inc. and BioNTech SE protects most people from the virus. ...