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Bloomberg Elon Musk declared he won’t proceed with his $44 billion takeover of Twitter Inc. unless the social media giant can prove bots make up fewer than 5% of its users, casting yet more uncertainty over the deal. The billionaire tweeted “this deal cannot move forward” unless Twitter provides proof of its claims, reiterating his own view that the ratio ...

Bloomberg Microsoft Corp plans to “nearly double” its budget for employee salary increases and boost the range of stock compensation it gives some workers by at least 25%, an effort to retain staff and help people cope with inflation. The move will mainly affect “early to mid-career employees,” the software giant said in a statement. “As we approach our annual ...

Bloomberg The euro-area economy grew more than initially estimated at the start of the year as the region moved past a wave of Covid-19 infections and defied headwinds from the early days of the war in Ukraine. Economic output rises 0.3% in the first quarter, exceeding a flash reading of 0.2%, according to Eurostat figures released Tuesday. Employment, meanwhile, gained ...

Bloomberg Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market. The amount translates to $1.86 trillion in net value for taxable properties in the county, a 6% increase from 2021, according to a May forecast of the county’s ...

  Bloomberg Wage growth in Britain jumped in the first quarter, fueled by an increase in bonus pay despite a call from the Bank of England for restraint. Average weekly earnings surged 7% in the three months through March, the Office for National Statistics said on Tuesday. That was stronger than the 5.4% figure economists had expected, mainly due to ...

  Abu Dhabi / WAM The UAE has accomplished many achievements under the rule of the late Sheikh Khalifa bin Zayed Al Nahyan, including being ranked among the top 10 globally in 20 key indicators of global competitiveness related to the energy and infrastructure sector for the year 2021, according to reports issued by a number of major international institutions ...

Abu Dhabi / WAM The UAE has established a national approach to transform challenges into opportunities and achieve growth and qualitative achievements in all areas. People of determination are progressing with the support and care of the UAE’s leadership towards successes and achievements, benefitting from an ideal and inclusive environment that ensures stability and motivates them to play a prominent ...

Bloomberg Saudi Aramco’s downstream business, a key area of investment for the world’s largest oil exporter, saw its earnings more than double as it benefited from a global shortage of refining capacity. The unit, which produces transport fuels like gasoline and diesel, reported $10.2 billion in first-quarter earnings before interest and taxes, up from $4.4 billion a year earlier, it ...

  DUBAI / WAM The 21st edition of the annual Airport Show hosted by Dubai, the world’s largest annual airport event, starting May 17-19, at the Dubai World Trade Centre (DWTC) is set to be the driving force for the global aviation industry to emerge even stronger after the Covid-19 pandemic and will showcase the latest solutions from around the ...

Bloomberg Oil rallied as a global squeeze on refined products continued to pull fuel prices higher. West Texas Intermediate rose 1.6% to trade near $112 on Monday as US gasoline futures topped $4 a gallon for the first time ever. Rising futures tend to trickle through to the pump quickly, signaling more pain for drivers when the summer driving season ...