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Bloomberg Uber’s sales are dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food delivery business. Revenue growth of 38 percent in the third quarter was almost half of what the growth rate was six months earlier, when the company was negotiating a $9.3 billion investment led by SoftBank Group Corp. That’s ...

Bloomberg The good times are coming to an end in the corporate debt market, and the turmoil in General Electric Co (GE) credit is a sign that things can get much worse. That’s what a growing chorus of money managers are saying. About half of the $5 trillion market for investment-grade bonds now resides in the lowest tier of ratings. Many ...

Bloomberg Theresa May rolled the dice with a dramatic reshuffle of her ministerial team as she battles to cling onto her job and stop her own party tearing up her Brexit deal. The prime minister reduced the power of her critics and promoted allies to key positions as she took personal charge of the final days of the UK’s divorce ...

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, on Wednesday visited the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) at the Abu Dhabi National Exhibition Centre (Adnec) and which concludes on November 15. His Highness Sheikh Mohamed bin Zayed, accompanied by ...

Abu Dhabi / WAM Dr. Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, on Wednesday opened the Abu Dhabi Diplomacy Conference, attended by more than 300 high-profile personalities, thought leaders and practitioners from the fields of international politics, diplomacy and academia as well as the private sector. Held under the patronage of HH Sheikh Abdullah bin Zayed Al ...

ABU DHABI / Emirates Business The Abu Dhabi National Oil Company (Adnoc) has agreed, in principle, to extend to 2040 its gas supply agreement with Adnoc LNG, in coordination with Adnoc LNG’s joint venture partners, Mitsui, BP and Total. The new gas supply agreement is scheduled to take effect from April 1, 2019, replacing an existing agreement, due to expire ...

Dubai/ WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, announced its latest initiative, the National Accelerator Programme, an extensive 18-week training that has been especially designed for young Emirati nationals to give them a better understanding of government export credit insurance. Through this programme, ECI commits to an environment of comprehensive development and continuous learning for the ...

Bloomberg Congress isn’t expected to pass legislation ordering new US sanctions on Russia before the end of the year, as lawmakers focus instead on government spending measures, judicial nominations and a farm bill, key senators said. A bipartisan group of senators moved swiftly over the summer to assemble new proposals for Russia sanctions following President Donald Trump’s summit with Russian ...

Bloomberg Hon Hai Precision Industry Co.’s disappointing earnings will fan fears that Apple Inc.’s legion of global hardware suppliers are in for hard times. The main assembler of iPhones reported net income of NT$24.9 billion ($806 million) in the September quarter, about 12 percent below the average analysts’ estimate. Hon Hai joins a string of Apple suppliers that have warned ...

Bloomberg SoftBank Group Corp. is continuing to push money into one of its biggest investments: WeWork Cos. The New York-based co-working company signed a $3 billion warrant with SoftBank, WeWork said in a discussion of its third-quarter earnings. SoftBank agreed to pay $3 billion to WeWork for the opportunity to buy shares before September 2019 at a price of $110 ...