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Bloomberg Foreign Secretary Dominic Raab said the UK believes Russians tried to meddle in last year’s general election by disseminating documents relating to trade talks with the US. The opposition Labour Party released the documents to the press on November 27 last year, during the election campaign, saying they showed Prime Minister Boris Johnson was prepared to put the country’s ...

Bloomberg Britain ramped up its record bond-issuance plan to help the government finance a recovery from one of the worst economic downturns in the nation’s history. An additional 110 billion pounds ($138 billion) of bonds will be sold between September and November, according to the Debt Management Office, bringing total sale plans from the start of the fiscal year to ...

Bloomberg BMW AG signed a deal with Goldman Sachs Group Inc.-backed Northvolt AB for 2 billion euros ($2.3 billion) of battery cells to power the German company’s electric cars. Northvolt, a Swedish firm started by two former Tesla Inc. executives, will manufacture the cells using renewable electricity and deliver them from 2024 as part of a long-term contract, BMW said ...

Bloomberg The International Monetary Fund (IMF) warned that the rate of bankruptcy for small- and medium-sized businesses may triple this year in the absence of sufficient government support, threatening to stall the economic recovery and cause financial instability. A staff analysis of 17 countries suggests that bankruptcies for the firms could surge to 12%, from 4% before the pandemic, the ...

Bloomberg It wasn’t meant to be like this for Margrethe Vestager, the European Union competition chief who’s made a name for herself as Silicon Valley’s worst nightmare. Her order for Apple Inc. to pay back a record 13 billion-euros ($14.9 billion) in state aid from Ireland in 2016 sealed her reputation as the world’s most feared antitrust enforcer. But the ...

Dubai / WAM Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, rang the market-opening bell at Nasdaq Dubai on Wednesday to celebrate the listing of a $1.5 billion perpetual sukuk. According to a press release issued by Nasdaq Dubai on Wednesday, DP World, the Dubai-based provider of worldwide smart end-to-end supply chain logistics, will use the capital ...

ABU DHABI / WAM Adnoc Distribution has announced the launch of a new range of lubricants that offer greater fuel efficiency for hybrid vehicles. The new range of Adnoc Voyager vehicle engine oils is the UAE’s first to meet the needs of latest engine technologies and to be certified by the world-leading industry body, the American Petroleum Institute (API). Voyager ...

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec) has successfully completed the construction of Unit 2 of the Barakah Nuclear Energy Plant, the Arab World’s first nuclear energy plant located in the Al Dhafra region of Abu Dhabi. The unit has now been officially handed to Nawah Energy Company (Nawah), ENEC’s operating and maintenance subsidiary, for operational readiness ...

Bloomberg The biggest battery storage system in the US connected to California’s electricity grid, giving the state more flexibility to bank excess solar power generated during the hottest parts of the day and deploy it later. The California Independent System Operator, which manages a grid that powers powers 80% of California and a small portion of Nevada, added 62.5 megawatts ...

Bloomberg Donald Trump ordered an end to Hong Kong’s special status with the US and signed legislation that would sanction Chinese officials responsible for cracking down on political dissent in the city, drawing a rebuke from China and adding fresh uncertainty for businesses including banks in the financial hub. “No administration has been tougher on China than this administration,” the ...