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Bloomberg Providers in the UK’s markets for cash savings, mortgages, insurance, mobile phone contracts and broadband are burdening customers with a “loyalty penalty” of around 4 billion pounds ($4.4 billion) a year, the Competition and Markets Authority said. Vulnerable people, including the elderly and those on a low income, may be more at risk of overpaying for key financial services ...

Bloomberg A US nuclear envoy said Washington would review policies preventing Americans from providing humanitarian to North Korea, including the travel ban, in a potential overture to restart talks with Kim Jong-un. Stephen Biegun, the US’s special representative for North Korea, disclosed the move, as he began a four-day trip to South Korea. The former Ford Motor Co. executive will ...

ABU DHABI / WAM The owners of the 402-megawatt (MW) Dudgeon wind farm in Britain’s North Sea, Masdar, Equinor and China Resources Group, have announced the signing of a hybrid refinancing that includes approximately GBP561 million (AED 2.6 billion) of commercial bank debt and GBP706 million (AED 3.275 billion) of senior secured notes privately placed with institutional investors, finally maturing ...

ABU DHABI / WAM The joint military exercise between the ground forces of the UAE and the United States has concluded. The “Iron Union 9” exercise, which continued for two weeks, comes within the framework of the joint exercises of the UAE Armed Forces with fraternal and friendly countries to enhance their combat skills. The final day of the exercise ...

Bloomberg Huawei Technologies’s rotating chairman, speaking publicly for the first time since the shock arrest of its chief financial officer, warned that blacklisting the Chinese company without proof will only hurt the industry and snarl the advent of future wireless technologies worldwide. The company took swipes at the US and its allies on Tuesday during its first press event since ...

Bloomberg Hiroto Saikawa, the Nissan CEO who’s been thrust into global prominence since the arrest of Carlos Ghosn, is getting his first chance to explain the Japanese carmaker’s corporate-governance challenges to its alliance partners face-to-face. The chief executive officer is travelling to Amsterdam for a meeting starting from Tuesday of Nissan Motor Co., Renault SA and Mitsubishi Motors Corp., according ...

Bloomberg General Electric Co is set to close out one of its worst years since the financial crisis, and 2019 may be another precarious one. The challenges are many and over the next few months, new Chief Executive Larry Culp will have to revamp GE’s power business, sort out liquidity problems arising from cash flow shortages and soaring financial liabilities, ...

Bloomberg European Union negotiators reached agreement on tighter caps on carbon dioxide from cars in a bid to spur the development of clean vehicles. Representatives of EU governments and the European Parliament fixed a 37.5 percent CO2-reduction target for 2030 compared with the 2021 limit. The deal in Brussels marks a compromise after the 28-nation Parliament in early October demanded ...

Bloomberg A UK startup that designs semiconductors used for artificial intelligence applications has raised $200 million from investors including BMW AG and Microsoft Corp. Graphcore Ltd is one of a number of companies trying to design a new class of chips that will be better at crunching the vast amount of data needed to make computers smarter. They argue that ...

Bloomberg UK Prime Minister Theresa May has given herself another four weeks to save the Brexit deal she says is still the only way to avoid a chaotic split from the European Union. Last week, May called off a parliamentary vote scheduled for December 11 on the withdrawal agreement after concluding it would be defeated amid overwhelming opposition from politicians ...