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Bloomberg UK Chancellor of the Exchequer Rishi Sunak said the trade deal reached with the European Union (EU) should reassure people worried about the economic damage of Brexit and can be an “enormously unifying moment for our country.” London will continue discussions with Brussels over access and equivalence for financial services, the chancellor said after Prime Minister Boris Johnson said ...

Bloomberg Facebook Inc. has moved to wind down several Irish holding companies that had allowed it to shift billions of dollars in profit to the country, where it was lightly taxed, the Times of London reported, citing company documents. The Irish companies were used to hold its intellectual property for international sales, and Facebook companies around the world would pay ...

Bloomberg BMW plans to produce an additional quarter of a million electric cars in coming three years, according to the German automaker’s chief executive officer. CEO Oliver Zipse said in an interview with Augsburger Allgemeine newspaper. Electric vehicles will account for about a fifth of BMW’s sales by 2023, up from about 8% now, he added. Zipse said his “biggest ...

Bloomberg Promotions on foods high in fat, salt and sugar will be restricted in supermarkets and soft drink refills banned in England from April as part of a drive to cut obesity. Large and medium-sized retailers will no longer be allowed to offer “buy one get one free” or “three for the price of two” deals on unhealthy products, the ...

Bloomberg Sweden’s government hopes to have the power to impose lockdowns from January 10, if a bill submitted on Monday passes parliament. The temporary laws, if enacted, will give authorities the legal clout to shut down businesses and fine those infringing the restrictions put in place to slow the spread of the virus, according to the Minister of Health and ...

Bloomberg In a challenging year for Chinese companies pursuing acquisitions abroad, Latin America emerged as a region where they were able to make some corporate marriages work. Overseas acquisitions by Chinese firms are heading for their fourth consecutive yearly decline, with a $31.1 billion tally that’s the lowest since 2007, according to data compiled by Bloomberg. Transactions targeting Latin America ...

ABU DHABI / WAM The UAE is on the frontlines of combatting the spread of epidemics globally, and is one of the key supporters of the international efforts to prevent the spread of many viral diseases that pose serious threats to human safety. The UAE celebrated annual International Day of Epidemic Preparedness on December 27, which was launched by the ...

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, approved the Government of Dubai’s general budget for the fiscal year 2021, with total expenditures of AED57.1 billion. The newly-announced budget takes into account the exceptional economic conditions of the fiscal year 2020 and ...

Abu Dhabi / WAM In his capacity as Ruler of Abu Dhabi, President HH Sheikh Khalifa bin Zayed Al Nahyan has issued a law to establish the Supreme Council for Financial and Economic Affairs, to oversee all matters related to the emirate’s financial, investment, economic, petroleum and natural resources affairs. The decree stipulates the members are: H.H. Sheikh Hazza bin ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the general budget for the Emirate of Sharjah of AED 33.6 billion for the fiscal year 2021. According to Sharjah Finance Department (SFD), the budget has increased 12 per cent compared to the final 2020 budget with the aim ...