News

  Bloomberg Bill Gates sold about $940 million of Canadian National Railway Co. shares, trimming one of the largest holdings of the investment firm that controls his $117 billion personal fortune. Cascade Investment unloaded roughly 12% of its shares in the Montreal-based company from April 27 to May 12, leaving it with a stake of about 9% or $6.8 billion, ...

  Bloomberg Allianz SE says car-shipping incidents are now a major cause of loss for the insurance industry after a cargo ship with about 4,000 Volkswagen AG vehicles caught fire and sank in the Atlantic two months ago. Fires on board car carriers have become a loss driver over the past decade, according to a report published by Allianz Global ...

  Bloomberg Oil climbed as a global squeeze on refined products continued to pull fuel prices higher with Russian diesel exports falling sharply. West Texas Intermediate rises 4.1% and eked out a weekly gain of 0.7% after a series of tumultuous trading sessions where lowered liquidity exacerbated price moves. Diesel exports from Russia dropped in April from their prewar level ...

Abu Dhabi / WAM The Federal Supreme Council on Saturday unanimously elected His Highness Sheikh Mohamed bin Zayed Al Nahyan as President of the United Arab Emirates. The council held a meeting on Saturday at Al Mushrif Palace in Abu Dhabi, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of the Emirate of Abu Dhabi, received condolences on the passing of Sheikh Khalifa bin Zayed Al Nahyan, from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme ...

Bloomberg Elon Musk sowed new chaos into the market over his takeover bid for Twitter Inc, first claiming his offer was “temporarily on hold” and then maintaining he is “still committed” to the deal, sending the social media giant into a tailspin. The billionaire initially sent an early tweet saying the $44 billion deal is pending until he receives more ...

  Bloomberg Amazon.com Inc founder Jeff Bezos accused President Joe Biden of “misdirection” on Twitter in response to the US leader’s tweet saying inflation could be tamed by making wealthy corporations “pay their fair share.” The exchange began with Biden’s tweet: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.” Amazon, which paid ...

  Bloomberg Ford Motor sold more shares of Rivian Automotive Inc, offloading more than $400 million worth of stock in the electric car maker since the end of a lockup this week. The US automotive giant sold 7 million shares of Rivian stock at $26.88 each on Friday, according to a filing, cutting its stake in the company to nearly ...

  Bloomberg Michael Gove, the UK minister responsible for Boris Johnson’s flagship policy to boost disadvantaged regions, appeared to abandon a key aim of the project: to build 300,000 homes a year. Speaking to the BBC, Gove said the government will “do everything we can” to increase house building, but added “it’s no kind of success simply to hit target ...

  Bloomberg Europe and parts of the US are set for a sweltering and dry summer this year, posing risks for crops and boosting demand for energy for cooling at a time when prices of commodities are already running high. Scientists at the Copernicus Climate Change Service, who published their seasonal outlook on Friday, said hotter and drier weather is ...