News

Bloomberg India is looking to overseas funds to rescue its battered bond market, but relief may be slow to come. A move to allow global funds to buy more government and corporate debt is unlikely to reverse sentiment hurt by record bond sales and shrinking returns, investors say. “High bond supply means potential pressure on bond prices, so easier access ...

Bloomberg Alphabet Inc reported quarterly revenue that missed analysts’ estimates, and new sales numbers on YouTube also disappointed Wall Street, sending the shares down more than 4% in extended trading. Overall revenue, excluding payments to partners, was $37.6 billion in the fourth quarter, less than analysts’ projections of $38.4 billion, according to data compiled by Bloomberg. Advertising revenue in the ...

Bloomberg The Trump administration is going ahead with controversial new rules that would clear the way for the US to start applying punitive tariffs on goods from countries accused of having undervalued currencies, the Commerce Department said. The move would give new muscle to US complaints about currency manipulation that have in the past targeted economies like China and Japan ...

Bloomberg Jeff Bezos is still the world’s richest person by a comfortable margin, thanks to Amazon.com Inc’s January surge that added $9 billion to his net worth. But no one, not even Bezos, is having as good a start to the decade as Tesla Inc Chief Executive Officer Elon Musk. On February 3, shares of the electric-vehicle maker surged 20% ...

Bloomberg Huawei Technologies Co and ZTE Corp asked US regulators to keep them off a list of companies deemed national security threats, a label that would bar the Chinese telecommunications equipment makers from selling gear to subsidised US carriers. Mobile broadband providers separately told the Federal Communications Commission that it would be costly for them to replace gear made by ...

Bloomberg Dropbox Inc Chief Executive Officer Drew Houston is joining Facebook Inc’s board. Houston, who co-founded file-sharing software company Dropbox in 2007, is a friend of Facebook CEO Mark Zuckerberg. Houston has in the past turned to Zuckerberg for help running his own company. “He’s given me a lot of advice on company scaling,” Houston told Bloomberg’s Emily Chang in ...

Bloomberg The world’s biggest trading bloc shouldn’t rush into more ambitious climate targets this decade without assessing how lower emissions could impact the economy, according to a top European Union (EU) lawmaker. With the EU preparing to forge its flagship Green Deal into law later this month, European People’s Party Parliamentarian Peter Liese said his party wants to see how ...

Dubai / WAM Hub71, Abu Dhabi’s tech ecosystem officially launched WeWork x Hub71 – three floors of beautifully designed workspace offering 1,200 desks for members to innovate, collaborate and connect – in the award-winning international financial centre, Abu Dhabi Global Market, on Al Maryah Island, Abu Dhabi. The grand launch event was attended by Hub71’s strategic partners, senior government officials, ...

ABU DHABI / WAM The UAE on Monday announced the suspension of all flights to and from China, with the exception of the country’s capital, Beijing, which will remain unaffected. The General Civil Aviation Authority (GCAA), said that the suspension would come into force on February 5 – until further notice – adding that the decision is part of precautionary ...

Bloomberg Chinese oil demand has dropped by about 3 million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry. The drop is probably largest demand shock the oil market has suffered since the global financial crisis of 2008 to 2009, and the most sudden ...