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Bloomberg CYBG Plc agreed to buy Virgin Money Holdings UK Plc for about 1.7 billion pounds ($2.3 billion) in an all-stock transaction, creating a bank with about six million customers to challenge Britain’s largest lenders. The purchase of the Richard Branson-backed bank gives consumer and business lender CYBG greater scale, potential cost savings and access to the firm’s presence on ...

Bloomberg LaSalle Hotel Properties picked Blackstone Group LP as its preferred suitor, thwarting months of efforts by Pebblebrook Hotel Trust to buy the luxury-hotel owner, most recently for more than $4 billion. The Blackstone transaction values the company at $4.8 billion, LaSalle said on Monday in a statement. LaSalle’s board deemed a June 11 offer from Pebblebrook “substantially similar” to ...

Bloomberg The first punches have been thrown in a potential trade war and now Xi Jinping is poised to match Donald Trump with a tit for tat response. The next flurry of jabs may be imminent. In his announcement of tariffs on Chinese goods on June 16, Trump vowed additional duties if China retaliated — which Beijing immediately did. Details ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) has developed its e-Services to include new features allowing Taxable Persons to link their accounts with an accredited Tax Agency, authorising it to carry out registration procedures, submit tax returns, and complete tax transactions on behalf of the Taxable Person, who is kept posted with real-time updates. In a press statement ...

Abu Dhabi / WAM More than 1.2 million people came from different parts of the world to the Sheikh Zayed Grand Mosque in the capital during the holy month of Ramadan. Dozens of large portable air conditioning systems and large red and gold carpets were placed into the mosque’s central courtyard as the organisers spared no effort to welcome the ...

DUBAI / WAM Dubai FDI, the investment development agency of Dubai Economy, is organising one of the largest economic delegations from Dubai in recent years for an official mission to Australia as part of its continuing efforts to strengthen existing economic cooperation and attract investments into the emirate. The mission, which will take place from June 25 to June 29, ...

Sharjah / Emirates Business Sharjah’s plans to usher in an economic model built on equitable development will be explored at a panel discussion organised by the global publishing, research and consultancy firm Oxford Business Group (OBG) and set to place on June 24, at the Sheraton Sharjah Beach Resort & Spa. Titled, “Creating the Environment for Sustainable Economic Growth”, the ...

Bloomberg Germany’s Christian Social Union party will give Chancellor Angela Merkel a two-week deadline to meet its demands for overhauling asylum policy, the Bild Zeitung reported, in what would mark an unprecedented challenge to her authority that risks plunging the nation into chaos. The executive of the Bavarian party — an ally in Merkel’s government — will pass a resolution ...

Bloomberg China’s response to US tariffs aims to hit the Trump administration right in its natural resources. The world’s largest commodities consumer said it will levy a first round of tariffs on $34 billion worth of US agriculture products, as well as automobiles, starting from July 6. Another $16 billion in goods, including coal and oil, will be subject to ...

Bloomberg Samsung Electronics Co. was told to pay $400 million after a federal jury in Texas said it infringed a patent owned by the licensing arm of a South Korean university. Samsung pledged to appeal. Qualcomm Inc. and GlobalFoundries Inc. also were found to have infringed the patent but weren’t told to pay any damages to the licensing arm of ...