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Bloomberg Verizon Communications Inc said it’s selling its media division to Apollo Global Management Inc. for $5 billion, a move that will jettison once-dominant online brands like AOL and Yahoo. The unit will be known as Yahoo after the close of the transaction, which is expected in the second half of this year, Verizon said in a statement Monday. Guru ...

Bloomberg Switzerland’s economy is bouncing back from the pandemic-induced slump, with manufacturing sector activity at an all-time high and companies gearing up to take on more staff. The purchasing managers’ index for industry hit its highest since at least 1995 in April, with a gauge for the service sector also signaling a pickup. Monday’s data come on the back of ...

Bloomberg Denmark wants to spend a majority of the European Union’s fund for post-pandemic recovery on financing its efforts to achieve an ambitious climate target. The Nordic country has earmarked 60% of its share of the EU crisis fund on green initiatives, clearly above the 37% required by the conditions of the fund. Denmark expects an allocation of 11.6 billion ...

Bloomberg Apple Inc’s App Store had operating margins of almost 78% in fiscal year 2019, according to testimony from an Epic Games Inc. expert witness based on documents obtained from the iPhone maker. The figure comes from Ned Barnes, a financial and economics researcher, who said he obtained documents “prepared by Apple’s Corporate Financial Planning and Analysis group and produced ...

Bloomberg Europe’s economy is finally turning the corner from its worst crisis in the postwar period after a devastating double-dip recession. Grim confirmation of another slump in the first quarter still failed to dim prospects for the region that are as bright as they have been since the pandemic struck, with European Union-funded multi-year stimulus plans also finally taking form ...

ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) on Sunday announced the successful placement of an aggregate $1.5 billion in 7-year and 30-year dual-tranche senior unsecured notes. The 7-year notes, sized at $750 million and maturing April 2028, were issued at a coupon rate of 2.0 percent. The 30-year notes, also sized at $750 million and maturing April ...

Bloomberg India’s government eased some rules relating to indirect-tax compliance to ease the burden of citizens during the pandemic period. Reduced penalty and waiver of late fees on delayed goods and services tax payments were among the measures announced by the Finance Ministry on Sunday. Taxpayers were also allowed more time to file GST returns. For persons with turnover above ...

ABU DHABI / WAM The UAE expressed its strong condemnation of attempts by the Iran-backed terrorist Houthi militia to target civilians and civilian objects in a systematic and deliberate manner in Khamis Mushait, Saudi Arabia, with a booby-trapped plane, which was intercepted by coalition forces. The UAE affirmed – in a statement issued by Ministry of Foreign Affairs and International ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) signed an agreement with Silal, Abu Dhabi’s new fresh food and agritech company, to promote local agricultural products in the emirate. The agreement aims to achieve Abu Dhabi Local Content Programme objectives, particularly those pertaining to the strategies of enhancing food supply chains. It also supports freelancers and ...

Bloomberg Russia increased its oil production in April thanks to a more generous Opec+ quota. The nation pumped 42.81 million tons of crude and condensate last month, according to preliminary data from the energy ministry’s CDU-TEK unit. That equates to 10.46 million barrels a day, or 1.9% more than in March. The data don’t provide a breakdown between crude and ...