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  Bloomberg US consumer purchases climbed in December by the most in three months as incomes picked up, signaling a strong hand-off into 2017. The 0.5 percent advance in consumption, which accounts for about 70 percent of the economy, followed a 0.2 percent advance in the prior month, a Commerce Department report showed on Monday. The December increase matched the ...

  Bloomberg Toshiba Corp. is looking to sell more assets to repair a balance sheet facing multibillion-dollar writedowns. The conglomerate happens to have more than 600 different businesses, but raising cash from the firesale will be far from simple. While Toshiba’s two biggest enterprises are nuclear reactors and semiconductors, the Tokyo-based company also has its hands in a wide range ...

  Bloomberg China’s voracious demand for cotton is sparking the fiber’s best rally in six months. Chinese buyers have committed to purchasing almost five times more American cotton than at this time last year, the US government said in a report this month. The price of the commodity is heading for its biggest monthly advance since July. Hedge funds are ...

  Abu Dhabi / Emirates Business Attended by His Excellency Eng. Suhail Al Mazrouei, UAE Minister of Energy and Chair of the UAE National Committee, His Excellency Dr Matar Al Neyadi, the Undersecretary of the Ministry of Energy and the Chair of the Organizing Committee signed on Sunday the Project Management Office (PMO) contract with Energy Events Experts (E3) to ...

  Dubai / WAM The Roads and Transport Authority (RTA) in collaboration with Dubai Properties, has extended the trial run of the autonomous vehicle in the Business Bay until February 22. The decision has been taken in response to the encouraging number of users of the vehicle, which is 1,500 persons, the authority announced on Sunday. The 10-seater vehicle has been ...

  Bloomberg Global opposition to US President Donald Trump intensified on Sunday as world leaders condemned the move to temporarily limit immigration from what are predominantly Muslim countries, while Germany pledged to play a bigger role on the international stage. World leaders including UK Prime Minister Theresa May, Canadian Prime Minister Justin Trudeau and German Chancellor Angela Merkel criticized Trump ...

  Bloomberg Verizon Communications Inc. is said to have given thought to buying Charter Communications Inc., a deal that would create the biggest US wireless and internet provider. But many in the finance world are focused on another superlative a Charter tie-up could lead to: the world’s biggest corporate debtor. And that’s causing some credit analysts to wonder how Verizon ...

  Dubai / Emirates Business Today we live in a world where we can complete our most routine, yet often time consuming tasks, be it doing the laundry, booking transportation, scheduling a delivery, or merely ordering food, with the touch of a button. And in a market where there is a distinct appreciation for convenience, this is proving to be ...

  Bloomberg Germany is cursed by its own economic strength. For eight years, the nation of 83 million people has been the euro area’s growth driver. Now it’s at the forefront of the currency bloc’s reflation, with price increases potentially exceeding 2 percent, and dissatisfaction with the European Central Bank has morphed into outrage. Critics and media are slamming the ...

  Bloomberg It’s a good time to be Elon Musk. Shares of the billionaire’s Tesla Motors Inc. have surged 40 percent since December 1, putting the stock within reach of a 52-week high. The acquisition of SolarCity is complete. Musk’s sprawling Gigafactory is now producing battery cells. And the clean-energy evangelist has the ear of a surprising fellow in Washington: ...