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Bloomberg Alibaba Group Holding Ltd faces complaints from six European consumer organisations into allegedly unfair user terms for its online retail service, arguing some of the clauses violate European Union law. Consumer groups, including from France, Spain, Italy and the Netherlands, filed complaints with national regulators to probe “unclear” and “problematic contract terms and practices” for AliExpress users in the ...

Bloomberg President Donald Trump said the US will lift steel and aluminum tariffs on Canada and Mexico, boosting efforts to encourage lawmakers to ratify a new North American trade deal. “I’m pleased to announce that we’ve just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs or major ...

Bloomberg Cisco Systems Inc. gave a bullish sales and profit forecast for the current period, a sign that corporations continue to spend on their computer networks despite concern that a trade dispute between China and the US will slow global economic growth. Sales in the fiscal fourth quarter will increase 4.5% to 6.5% from the same period a year earlier, ...

Bloomberg BMW AG’s chief executive officer defended his track record at the company’s annual meeting, highlighting a luxury lead in the US and sales growth through a Chinese downturn, even as the carmaker battles to reverse weaker margins. BMW is struggling alongside rivals with a drop in demand after years of auto-industry growth, and record spending for a technology transition. ...

Bloomberg Australian PM Scott Morrison’s conservative government appeared poised to claim a come-from-behind victory in Australia’s election against the left-leaning Labor party. While opinion polls had pointed to a Labor win, with more than half the votes counted the Australian Broadcasting Corp predicted the Liberal-National coalition would form government, though it remained unclear whether it would get the 76 seats ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received a number of Emirati well-wishers on the occasion of the Holy Month of Ramadan. He exchanged greetings with them and wished more prosperity and security for the UAE under the leadership of President ...

Dubai / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, has chaired the first meeting of the Department of Behavioral Rewards of the Ministry of Possibilities, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), is intensifying its Ramadan programmes and projects this year in 83 countries worth AED21,810,000 that benefit 1,435,966 people. It also launched many Ramadan programmes related to Ramadan Iftar, Zakat Al Fitr, and Eid clothes in countries suffering from major humanitarian crises and wars. The ERC is supporting Syrian refugees in countries ...

Dubai / WAM DMCC, a Free Zone for commodities trade and enterprise, on Wednesday announced its collaboration with TradeAssets, the first blockchain-powered trade finance e-marketplace of its kind for banks. Through its collaboration with DMCC Tradeflow, a dedicated flexible and customised online platform for registering possession and ownership of commodities in the UAE, TradeAssets will gain access to a larger ...

Bloomberg Masayoshi Son isn’t losing his appetite for backing money-losing startups. Son’s SoftBank Vision Fund is leading an investment round of more than $200 million in Grofers, the Indian online grocery startup said in a statement. Tiger Global and Sequoia Capital and new investor KTB joined SoftBank in the deal, which pushes the company’s valuation to almost $1 billion even ...