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Bloomberg America’s closest allies plan to slap billions of dollars in tit-for-tat tariffs on US goods after the Trump administration announced it’s imposing steel and aluminum duties on them. The reaction was swift after Commerce Secretary Wilbur Ross announced the US will levy new metals duties on imports from the European Union, Mexico and Canada on national security grounds, ending ...

Bloomberg British consumers are worried about prospects for the economy with Brexit on the horizon, and that could spark a shift in behaviour that drags even more on growth. Households have driven expansion for more than a year, but only because they saved less to keep up spending during 2017’s inflation surge. They may be less willing to do so ...

Bloomberg Auto sales were supposed to slow again this year. But with the US economy chugging along, car shoppers keep strolling into showrooms. The pickup in hiring and President Donald Trump’s tax cuts have helped keep new-vehicle demand humming. Almost every automaker’s May results beat analysts’ estimates, and several posted increases, led by Fiat Chrysler Automobiles NV’s 11 percent jump. ...

Bloomberg North Korea will get relief from international sanctions only when it has shown irreversible moves toward denuclearisation, US Secretary of Defense James Mattis said ahead of a summit next week between President Donald Trump and North Korean leader Kim Jong-un. Speaking on Sunday in Singapore at the start of a meeting with the defense ministers of South Korea and ...

ABU DHABI / WAM The Emirates Red Crescent (ERC), rescue teams in Yemen were among the first on the ground to help in the aftermath of Cyclone Mekunu, which hit the Yemeni island of Socotra in May, by initiating immediate recovery work and providing food and relief assistance, as well as reconstructing and reopening roads and restoring power supply networks. ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has again invited Dubai’s citizens and residents to benefit from the Shams Dubai smart initiative, following the outstanding success and the great adoption rate the initiative has achieved since its launch. Shams Dubai encourages DEWA customers to install solar photovoltaic panels on the roofs of their premises to generate electricity from ...

Dubai / Emirates Business Small business owners are confident the remainder of 2018 will be a period of strong growth. A new MEED survey of 75 of the UAE’s top SMEs conducted shows more than 60% are confident of achieving as much as 20% growth compared to their performance last year. For 13% of the respondents, an even more robust ...

Dubai / WAM Dubai has won the bid to host the 12th World Chambers Congress (WCC) in 2021, which will see the participation of 14,000 chambers of commerce from 100 countries. The 12th WCC will be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

Bloomberg US Secretary of Defense James Mattis said the world have to deal with China’s militarisation of the South China Sea for now, but that Beijing would face “larger consequences” in the long term that could persuade it to change track. Beijing’s deployments of missile batteries and bombers to outposts in disputed areas appear aimed at intimidating neighbours, Mattis told ...

Bloomberg SoftBank Group Corp.’s Masayoshi Son wants his company to grow for 300 years, and he’s willing to pour billions of dollars into far-out technology to make it happen. General Motors Co., a business that is already more than a century old, is now part of that plan. GM said that the SoftBank Vision Fund is investing $2.25 billion in ...