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Bloomberg The lumber market is red-hot, with futures rising to another record thanks to a confluence of import tariffs, transport bottlenecks and strong housing demand. The futures rose 1 percent to close at $619 per 1,000 board feet on the Chicago Board of Trade. They’ve surged 66 percent in the past 12 months, a bigger gain than any of the ...

Bloomberg Novartis AG’s top lawyer became the first executive to take the fall for the controversial $1.2 million in payments he helped arrange to Donald Trump’s attorney, as the drugmaker tries to contain the furor from last week’s revelation. Felix Ehrat, who along with former Chief Executive Officer Joe Jimenez signed the agreement with a consulting firm led by lawyer ...

Bloomberg North Korea threatened to walk away from its meeting with President Donald Trump next month if the US made a “one-sided demand” for the regime to surrender its nuclear weapons. Kim Kye Gwan, a vice foreign minister and a top North Korea disarmament negotiator, said the regime was disappointed by recent comments from the US on their goals for ...

Bloomberg An Indian tribunal ordered billionaire Anil Ambani’s Reliance Communications Ltd. be placed under insolvency proceedings, jeopardising the phone company’s proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. The Mumbai bench of the National Company Law Tribunal on Tuesday accepted a petition from the Indian unit of network-equipment maker Ericsson AB, which is seeking to recover 11.6 billion ...

Bloomberg Didi Chuxing is overhauling safety measures across its business after a female customer of its Hitch carpooling service was allegedly murdered by a driver using its app in China. Hitch has been marketed as a social ride-sharing service, allowing drivers and passengers to label or rate each other by appearance. Such features attracted criticism as the platform was rife ...

Bloomberg Sun Hung Kai Properties Ltd.’s record HK$25.2 billion ($3.2 billion) purchase of a coveted plot near Hong Kong’s former airport signals that the city’s developers are brushing off concern that expected rate increases will damp the red-hot housing market. Sun Hung Kai beat out bidders including units from CK Asset Holdings Ltd. and Henderson Land Development Co., paying almost ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that ‘Area 2071’ is a bridge to the future, and a platform to implement the UAE’s model for future design; and reflects UAE Centennial 2071 objectives for a better life for future generations with more opportunities ...

WASHINGTON / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, began a visit to Washington, DC, meeting with US Secretary of State Mike Pompeo and White House National Security Advisor John Bolton. Sheikh Abdullah and the US officials reinforced the close bilateral cooperation and partnership on a range of strategic, security and ...

Beijing / WAM Bloomberg and the China Center for International Economic Exchanges (CCIEE) on Tuesday announced the New Economy Forum will convene in Beijing, China, on November 6-8, with Adnoc and the Public Investment Fund of Saudi Arabia, being among the Forum’s founding members, to participate. The forum will stimulate a frank conversation about the shifts in the global economy ...

Bloomberg Dubai is set to see retail space surge by 50 percent over the next three years, even as consumer spending slows in the Persian Gulf city, according to real estate adviser CBRE Group Inc. More than 1.5 million square meters (16 million square feet) of space will be added at the city of 3 million people, CBRE estimates. That’s ...