News

  Bloomberg China’s factory-gate inflation rose to the highest since late 2011, helping to sustain prices around the world. Consumer prices picked up on rising food costs. The producer-price index jumped 3.3 percent in November from a year earlier, exceeding all 47 estimates in a Bloomberg survey and the 1.2 percent gain in October The consumer-price index rose 2.3 percent, …

  Bloomberg Japan’s Sumitomo Corp. agreed to buy banana importer Fyffes Plc for 751 million euros ($798 million) in cash, expanding its reach in the global fruit market and sending the Irish company’s shares soaring. Sumitomo offered 2.23 euros a share for Dublin-based Fyffes, 49 percent more than Thursday’s closing price, in a deal it said furthers its position as …

  Bloomberg Steel Authority of India Ltd., the country’s top producer, booked a loss for the sixth straight quarter, almost in line with analyst estimates, as costs increased. The company lost 7.3 billion rupees ($108 million) in the three months through September compared with a shortfall of 11.1 billion rupees a year ago, the company said in a statement. That …

  Bloomberg Canadian oil sands producers are finally ready to grow again as Cenovus Energy Inc. and Canadian Natural Resources Ltd. announce they are pushing ahead with expansion projects two years into the worst crude slump in decades. Cenovus said that the company will proceed with its 50,000 barrel a day phase G expansion at its Christina Lake oil sands …

  Bloomberg President-elect Donald Trump’s sit down with technology titans next week will have two marquee attendees: Alphabet Inc.’s Larry Page and Eric Schmidt. Page, chief executive officer of the Google parent company, and Schmidt, the chairman, were planning on going to the meeting, a person familiar with the decision said late Friday. The person asked not to be identified …

  Bloomberg Coca-Cola Co.’s incoming CEO has his work cut out for him to bring the 130-year-old company into a millennial-dominated era. James Quincey, who takes over as chief executive officer next year, is under pressure to dramatically cut the calories of Coca-Cola’s lineup — a move necessitated by shifting consumer tastes and anti-obesity efforts. And he can’t rely as …

  MADRID / AP Spain wants to raise 500 million euros ($528 million) from new environmental taxes as part of a package of fiscal measures to meet the European Union’s budget deficit goals. The new environmental taxes are part of the revised budgetary plan Spain has submitted to the European Commission. The plan says the new taxes will target a …

  Bloomberg The Federal Trade Commission is seeking to further question Volkswagen AG’s US officials about whether evidence including mobile phones was destroyed amid the probe of diesel vehicles rigged to cheat emissions tests. “In the context of the massive scandal at the center of this case, 23 lost or bricked phones is a bright red flag, especially when they …

ABU DHABI / WAM Foreign and institutional investments at the Abu Dhabi Securities Exchange (ADX) totalled AED7.9 billion by the end of November 2016. Net flow of foreign investments in the last six months, from June to November, reached almost AED850 million. Data from the exchange shows that institutional investments in the last eleven months reached AED4.6 billion, whereas investments …

  ABU DHABI / WAM Abdullah Al Saleh, Under- Secretary of the Ministry of Economy for Foreign Trade and Industry, recently met Yoshio Kishimoto, Director-General of International Affairs at the Japanese Ministry of Economy, Trade and Industry, and his accompanying delegation at the Ministry’s office in Abu Dhabi. The meeting highlighted developments in economic and trade cooperation between the two …