Bloomberg BMW AG will add a low-slung electric sedan to its stalled “i” sub-brand, part of plans to accelerate the rollout of battery-powered cars to counter Tesla Inc. The four-door model, kept under wraps as BMW showed journalists around its Munich design headquarters, is set to go on sale by 2021 and will slot in between the squat i3 city ...

DUBAI / Emirates Business LG Electronics’ (LG) newest smartphone featuring the proprietary FullVision display is now available to consumers in the Gulf. The LG Q6, designed to meet the needs and expectations of discerning millennial customers, is part of the company’s latest line of powerful, mid-range smartphones boasting the essential features of LG premium phones at exceptional price points. As ...

DUBAI / Emirates Business Aruba, a Hewlett Packard Enterprise company, has announced its participation at GITEX Technology Week taking place from October 8-12 at the Dubai World Trade Centre. The company will be demonstrating its mobility and IoT solutions that empower organizations to serve GenMobile – mobile-savvy users who rely on cloud-based business apps for every aspect of their work ...

Bloomberg Two of the world’s largest block- chain developers are battling over more than $1 billion in virtual-currency options, in a dispute that may help establish the leading player in providing new payment technologies to financial companies. R3, a blockchain startup that leads a group of more than 100 firms, sued rival Ripple Labs Inc. in state court in Delaware, ...

Bloomberg The Bank of England won’t budge on policy next week, though it could present a shift in tone. In the six weeks since the Monetary Policy Committee’s last decision, the economy has performed broadly as the bank expected and there have been tentative signs of a long-awaited pickup in wage growth. At the same time, the pound’s renewed decline ...

Reuters Austria’s Oberbank will sign a deal with Iran this month enabling it to finance new ventures there, its chief executive said, among the first European lenders to do so since sanctions were eased. The deal Tehran struck in 2015 with six major powers lifted many sanctions in exchange for restrictions on its nuclear activities and technically paved the way ...

Bloomberg Australia’s banking regulator will probe whether cultural, governance and pay structures contributed to a string of scandals at Commonwealth Bank of Australia (CBA). The inquiry, commissioned after allegations the country’s biggest lender repeatedly breached anti-money laundering laws, will focus on identifying any internal shortcomings at the bank and make recommendations for change, the Australian Prudential Regulation Authority said. A ...

Bloomberg China’s central bank will effectively remove a reserve requirement for trading foreign currency forwards—a move that may slow the pace of yuan appreciation after its biggest two-week surge in at least a decade— according to people familiar with the matter. Effective September 11, the People’s Bank of China will stop requiring financial institutions to set aside cash when buying ...

Bloomberg As Hurricane Irma approaches Florida, lenders including Wells Fargo & Co. and Bank of America Corp. are making plans to move a small number of mobile teller machines into the state to provide some customers with much-needed cash amid expected power failures. Two Wells Fargo trucks equipped with automated teller machines that were destined for Texas have been rerouted ...

Bloomberg Boeing Co. and Airbus SE voiced concerns about a proposed tie-up of two leading suppliers, potentially upsetting United Technologies Corp.’s $23 billion acquisition of Rockwell Collins Inc. The world’s largest planemakers added to the chorus of skeptics of a deal that would create an aerospace behemoth with a range of products to outfit jetliners and warplanes. Investors sent United ...