Blog List Layout

Bloomberg United Parcel Service (UPS) Inc. is suing the European Union for 1.7 billion euros ($2.1 billion) in compensation for the damage it says it suffered when regulators wrongly vetoed its attempted takeover of parcel delivery rival TNT Express NV. UPS is asking the EU’s General Court to award it compensation plus interest and taxes it would pay on any ...

Bloomberg The European Union may consider the UK Labour Party’s idea of the country remaining in a customs union after Brexit acceptable—but it would come with conditions attached. The opposition party’s plan, set out by leader Jeremy Corbyn in a speech on Monday, heaps pressure on Prime Minister Theresa May who has ruled out such a move and whose Brexit ...

Bloomberg As WeWork Cos. has grown to 200 buildings across the globe, the company said its increased size is helping cut costs for everyday needs like glass, wood flooring, aluminum and light fixtures. Early signs of financial improvement are encouraging for a co-working business that critics say is overvalued and spends with abandon. The New York-based startup generated about $900 ...

Bloomberg The US Supreme Court rejected a Trump administration appeal aimed at ending deportation protections for young undocumented immigrants, steering clear for now of the debate over the fate of hundreds of thousands of people. The justices, without published dissent, turned away the administration’s appeal of a ruling that has kept the Obama-era program in place. The rejection buys time ...

ABU DHABI / WAM Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the 3rd edition of the Unmanned Systems Exhibition and Conference (UMEX), and the Simulation Exhibition and Conference (SimTEX), were opened on Sunday by His Highness Lt. General Sheikh Saif bin ...

ABU DHABI / WAM The Sheikh Zayed Grand Mosque Centre (SZGMC), in collaboration with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), will host the second session of the ‘Hajj: Memories of a Journey Talks Programme’ this coming Wednesday at the Sheikh Zayed Grand Mosque, exploring the stories of the objects that lie at the heart ...

Abu Dhabi / WAM As the UAE marks Innovation Month in February, Abu Dhabi’s renewable energy company, Masdar, is accelerating the commercialisation of clean technologies at home and abroad. Established in 2006 to help maintain Abu Dhabi’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations, ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA), on Sunday announced that its emissions of perfluorocarbons were at a record low for the company in 2017. EGA has signed an agreement with the University of New South Wales to research how to carry out further reductions. Perfluorocarbons, known as PFCs, are a group of greenhouse gases which have thousands of ...

Bloomberg China’s government seized temporary control of Anbang Insurance Group Co. and will prosecute founder Wu Xiaohui for alleged fraud, cementing the downfall of a politically connected dealmaker whose aggressive global expansion came to symbolise the financial overreach of China’s debt-laden conglomerates. The surprise move furthers President Xi Jinping’s anti-corruption and de-leveraging campaigns while providing a government backstop for the ...

Bloomberg In the pantheon of luxury carmakers, Hyundai Motor Co. doesn’t usually come to mind. But the Korean company’s Genesis line beat out German rivals to be named 2018’s best car brand in the US by Consumer Reports. In its debut year, Hyundai’s luxury line bumped Volkswagen AG’s Audi from top billing to the No. 2 spot, with premium mainstays ...