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Bloomberg An extended shutdown of a Ford production facility in Turkey is due to a supply shortage of a transmission produced in Bordeaux, according to people with direct knowledge of the matter, who asked not to be named because the issue hasn’t been publicly announced. The Ford Otosan plant in Yenikoy, Kocaeli province, a joint venture between Ford Motor Co. ...

Bloomberg North Korean leader Kim Jong Un claimed he could strike the entire continental US after test-firing the regime’s second intercontinental ballistic missile within a month. Friday’s unusual late-night launch drew condemnation from the US and its allies, with the top American general calling his South Korean counterpart to discuss a potential military response. President Donald Trump said the test ...

Bloomberg Starbucks Corp. suffered its biggest stock decline in almost two years after cutting its forecast, renewing fears about sputtering growth at the world’s largest coffee chain. The shares dropped as much as 8.2 percent to $54.63 in New York, the biggest intraday plunge since August 2015. Slowing growth in the US forced Starbucks to cut its profit forecast for ...

Bloomberg HNA Commercial REIT is seeking to add arrangers to its planned Singapore initial public offering as Bank of America Corp. walks away from the deal, people with knowledge of the matter said. The property trust, backed by embattled Chinese conglomerate HNA Group Co., has been reaching out to investment banks to gauge their interest in taking a senior role ...

Bloomberg Western Digital Corp. said it will move forward with arbitration to get a say over Toshiba Corp.’s sale of its chip unit after the Japanese company agreed to provide notice before closing. The companies announced they’d reached an agreement providing for two weeks’ advance notice. The two manufacturers, which are in a joint venture to produce memory chips, submitted ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has emphasised the importance of creating a new generation of young leaders who are capable of shaping the future of the UAE and the world in various fields. His Highness Sheikh Mohammed bin Rashid made the remarks on ...

Abu Dhabi / Emirates Business Etisalat Group announced its consolidated financial statements for H1 ending June 30, 2017. The revenues amounted to AED 15.4 billion representing 3% increase year over year, while net profit amounted to AED 4.2 billion representing 7% increase year over year. The subscriber base reached 12.4 million representing Year over Year increase of 2%. Group consolidated ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Australian Securities and Investments Commission (ASIC) have strengthened their FinTech collaboration with an official strategic partnership to further advance developments and initiatives that nurture Fintech entrepreneurship and support innovation in financial services in Abu Dhabi and Australia. The FinTech bridge is a ...

RAS AL KHAIMAH / WAM Ras al-Khaimah Chamber of Commerce and Industry, RAK Chamber, has signed a Memorandum of Understanding (MoU) with Ras al-Khaimah International Airport, to boost mutual cooperation, exchange of expertise and studies. The MoU will cement the basis of joint work between the two parties in a systematic way that aims at realising a constructive mutual partnership ...