News

Bloomberg The US is weighing new tariffs on $3.1 billion of exports from France, Germany, Spain and the UK, adding to an arsenal of measures the Trump administration is using against the European Union that could spiral into a wider transatlantic trade fight later this summer. The US Trade Representative wants to impose new tariffs on European exports, while increasing ...

Bloomberg British shopkeepers slowly emerging from three months of forced closure have a new problem on their hands: the rent is due. Third quarter rents on the country’s commercial properties are billed with about $3.1 billion owed by retailers alone, according to the British Property Federation. While mall landlords eventually got about half the rent owed for second quarter, government ...

Bloomberg Volkswagen AG is exploring an offer for Europcar Mobility Group, according to people familiar with the matter. Shares of the rental-car company soared. Volkswagen’s considerations are at an early stage, said the people, who asked to not be identified because the matter isn’t public. The carmaker could opt to not proceed with an offer, they said. Europcar shares rose ...

Bloomberg Facebook Inc. suffered a setback in a key challenge to its business model as Germany’s highest civil court said it has “no doubt” that the social network misuses its dominant market position. Judges at a hearing ruled that Facebook must comply with a strict order curbing the network’s leeway in tracking users’ browsing and smartphone apps even as it ...

Bloomberg French business confidence surged in June, rebounding from the lockdown damage as the economy continues to reopen. The improvement follows figures showing a pickup in measures of activity in the euro area and data last week that indicated the slump in France wasn’t as bad as initially expected and consumption is returning quickly. A closely watched measure of business ...

Bloomberg A Missouri appeals court refused to toss out a $4.7 billion jury verdict against Johnson & Johnson (J&J) over cancer claims linked to talc-based products including baby powder but agreed to cut the total payout to $2.1 billion to the women who sued the company. In a unanimous 83-page opinion, a three-judge panel said 2018 trial testimony by plaintiffs’ experts ...

Abu Dhabi / WAM The value of the UAE’s trade in aircraft and spaceships amounted to AED28.2 billion ($7.68 billion) in 2019, reflecting its leading position in these sectors in the Gulf Cooperation Council (GCC) and the Middle East, according to the Federal Competitiveness and Statistics Authority. The aviation sector supports the Emirati economy and its GDP contribution is expected ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday that it has entered into an agreement with some of the world’s leading infrastructure investors and operators, sovereign wealth and pension funds. A consortium of investors comprising Global Infrastructure Partners (GIP); Brookfield Asset Management, Singapore’s sovereign wealth fund GIC; Ontario Teachers’ Pension Plan Board, Ontario Teachers; ...

Bloomberg Oil resumed gains, clinging to a three-month high as signs of improving demand buoyed a market momentarily roiled by confusion over US-China trade. Futures in New York rose 0.4% after President Donald Trump said the deal with Beijing was “fully intact” following remarks from a trade adviser that were interpreted as an end to the agreement. After earlier dropping ...

Abu Dhabi / WAM The UAE Fatwa Council praised the decision of the Ministry of Hajj and Umrah of Saudi Arabia to limit this year’s Hajj pilgrimage to Muslims of various nationalities residing in kingdom, to protect safety and health of people and facilitate the pilgrimage. The council stressed that everyone has to follow instructions of government, highlighting its responsibility ...