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Bloomberg Elliott Management Corp has built a stake in CNH Industrial NV in a bid for constructive engagement with the truck and tractor maker controlled by Italy’s Agnelli family, according to people familiar with the matter. Elliott, run by billionaire Paul Singer, sees value-creation potential in CNH’s plan to separate the Iveco truck business from its more profitable agricultural machine ...

Bloomberg Some of Europe’s top luxury brands are targeted in President Donald Trump’s latest tariff salvo, which could affect billions of dollars in exports of American-bound handbags and men’s suits, among other products. A panel of three World Trade Organization arbiters, as expected, said the US can legally impose tariffs on an array of European exports in retaliation for Europe’s ...

ABU DHABI / WAM The total value of fund transfers among the UAE’s banks grew eight percent to AED7.13 trillion during the first eight months of 2019, from AED6.61 trillion in the comparable period in 2018. According to the CBUAE’s figures, fund transfers from January through August hit AED4.864 trillion, in yet a new sign reflective of the ongoing economic ...

Dubai / WAM The General Civil Aviation Authority (GCAA) announced the launch of the second edition of Global Investment in Aviation Summit (GIAS) under the theme ‘Enabling global aviation growth through fundraising and key partnership.’ The upcoming summit at Madinat Jumeirah, Dubai, on January 27- 29, 2020 aims at exchanging expertise and knowledge between officials and aviation industry experts and ...

Dubai / WAM The UAE ranked first in the Middle East in the transition to Internet Protocol Version 6, according to statistics from Ripe NCC, Akamai Technology and Google, less than two years after it has been launched in the country by the Telecommunications Regulatory Authority (TRA). The transition to IPv6 will have a significant positive impact on the implementation ...

Abu Dhabi / WAM The Joint Committee for Media Cooperation of the Saudi-Emirati Coordination Council held its first meeting in Abu Dhabi, under the chairmanship of Turki Al Shabana, Saudi Minister of Media, and Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the National Media Council. The meeting aimed at developing media strategies, joint plans ...

Bloomberg China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth. Industrial output rose 4.4 percent from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5 percent in the first eight ...

Bloomberg The Hong Kong bourse’s unsolicited takeover bid for the London Stock Exchange (LSE) Group Plc was greeted with a scathing rejection and the exchange suffered a further humiliation when China praised the rebuff as well. The official People’s Daily wrote that there are “persistent worries” about Hong Kong given the current unrest, and praised the LSE for citing its ...

Bloomberg Apple Inc fights the world’s biggest tax case in a quiet courtroom, trying to rein in the European Union’s powerful antitrust chief ahead of a potential new crackdown on internet giants. The iPhone maker can tell the EU General Court in Luxembourg that it’s the world’s biggest taxpayer. But that’s not enough for EU Competition Commissioner Margrethe Vestager who ...

Bloomberg Equity markets will face significant damage in a no-deal Brexit unless the European Union reverses a plan to block traders in its home territory from using London exchanges, the UK’s top market watchdog said. Andrew Bailey, the Financial Conduct Authority’s chief executive, called on the EU to urgently rethink its position before October 31, when Britain is scheduled to ...