News

  Bloomberg US consumers took a breather in November a month after an early holiday spending surge, but that pause risks becoming more lasting if Americans pull back when faced with both the fastest inflation in decades and the omicron variant. Purchases of goods and services, after adjusting for higher prices, were little changed following a solid 0.7% gain in ...

  Bloomberg Canada plans to formally join Mexico in calling for an arbitration panel to resolve a dispute with the US over how to interpret rules governing the origin of vehicle parts. The two countries expect to request in the first days of January the creation of a tribunal of experts to rule on the matter as allowed under the ...

  Bloomberg Rishi Sunak announced a billion pounds ($1.3 billion) of support for UK hospitality businesses struggling with slumping demand triggered by a record wave of Covid-19 infections, as he declined to rule out further curbs to tackle the fast-spreading omicron variant. Restaurants and other eligible hospitality and leisure businesses will be able to claim cash grants worth up to ...

  Bloomberg Oracle Corp agreed to acquire medical-records systems provider Cerner Corp for about $28.3 billion, a deal that would add a broad customer base in health care industry to bolster software maker’s cloud-computing and database businesses. The all-cash transaction, Oracle’s biggest-ever deal, will see Oracle pay $95 a share, the companies announced Monday in a statement. The price represents ...

  Bloomberg Intel Corp’s global push to increase capacity will include adding facilities in France and Italy, as well as putting a major production site in Germany. France will be home to a research and design center, and Italy will be the location of a test and assembly factory, according to the people, who asked not to be identified because ...

  Abu Dhabi / WAM The Abu Dhabi Labour Court has successfully secured the payment of the financial dues of 2,794 workers in 4 companies, amounting to a total of AED40 million. The court took prompt legal measures and ended the disputes by moving directly to the workers’ place of residence onboard the mobile court, to hand over their financial ...

  Bloomberg Oil settled above $73 a barrel for the first time in four weeks as signs that the omicron Covid-19 variant may be less severe than previous strains eased concerns about a demand hit. West Texas Intermediate futures in New York closed 1.4% higher amid thinning liquidity heading into the holiday period. A UK health agency said omicron was ...

  ABU DHABI / WAM Etihad Airways and ADQ announced a proposed transaction that will support the ongoing transformation of Etihad Airways and the future growth of the civil aviation sector in Abu Dhabi. As part of the proposed transaction, a number of Etihad’s businesses providing airline support services will become part of a new ADQ aviation company. Once the ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 339,500 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. The ministry also noted that an additional 585 individuals had fully recovered from Covid-19, bringing the total number of recoveries to 740,707. MoHAP announced 1,621 new coronavirus cases, bringing the total ...

  Abu Dhabi / WAM The Federal Tax Authority (FTA) has called on tax registrants to benefit from the redetermination of administrative penalties to be equal to 30 percent of the total unpaid penalties. The FTA noted that few days are left to benefit from the redetermination before December 31, in accordance with Cabinet Decision No. 49 of 2021, Amending ...