News

  Bloomberg Rolls-Royce Holdings Plc will close the bulk of sites at its marine-engine and ship-design unit and shift some production to emerging economies as the lower price of crude hurts demand for oil-industry exploration and service vessels. The offshore market is showing no sign of recovery, with the outlook bleaker as the backlog shrinks, Rolls, which is better known …

  Bloomberg Wage growth is on fire. The Atlanta Fed’s Wage Growth Tracker indicates that the median US worker saw pay rise by 3.9 percent year-over-year in October, the fastest rate of growth since November 2008. This number comes on the heels of October’s non-farm payrolls report, which showed average hourly earnings increasing at the fastest annual clip of this …

  Bloomberg The UK’s National Infrastructure Commission called on the government to press ahead with the reinstatement of a rail line between the university cities of Oxford and Cambridge and for the building of tens of thousands of new homes along the route to maximize its economic potential. “The corridor connecting Cambridge, Milton Keynes and Oxford could be Britain’s Silicon …

  Bloomberg Uber Technologies Inc. is trying to finalize a settlement with California drivers to resolve potentially billions of dollars in claims stemming from the company’s refusal to give them the protections and benefits of employees. The case centers on allegations that the company failed to pay minimum wage and overtime to hundreds of thousands of drivers. Lawyers didn’t disclose …

  Bloomberg Volkswagen AG lost market share in Europe for the 14th straight month since the emissions- cheating scandal erupted in September 2015, as competitors took advantage of the German automaker’s tarnished image to attract buyers. Volkswagen accounted for 24.9 percent of the region’s car sales in October, compared with 25.3 percent a year earlier, the Brussels-based European Automobile Manufacturers’ …

  Montreal / AFP Canada expects to keep its 1989 bilateral free trade agreement with the United States if US President-elect Donald Trump withdraws from NAFTA, the Canadian ambassador to the US said. The Canada-US Free Trade Agreement was superseded in 1994 by the implementation of the North American Free Trade Agreement, which added Mexico to the pact. “Presumably… if …

  Bloomberg For clues on how U.K. immigration policy might work after Brexit, try looking at a small island just off the northern coast of France. The U.K. government has studied how the British isle of Jersey —whose legislature and judiciary are still independent from the mainland — controls migration, according to local officials who met with Prime Minister Theresa …

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, stressed that the UAE continues its approach based on openness, tolerance and coexistence. On his Twitter account, His Highness Sheikh Mohamed said, on the occasion International Day for Tolerance, that on this day, …

  DUBAI / WAM As part of its commitment to creating smart, vibrant and sustainable business communities, TECOM Group, a member of Dubai Holding, partnered with JCDecaux SA to pioneer state-of-the-art digital advertising solutions, at Dubai Media City, Dubai Internet City and Dubai Knowledge Park. The community transformation project will include the installation of smart digital outdoor solutions as part …

  DUBAI / WAM Dubai Financial Market (DFM) announced on Wednesday that its UAE listed companies have shown 100 percent compliance in disclosure of their quarterly results within the deadline of 45 days from the end of the period. All the 47 UAE public joint stock companies listed on DFM successfully disclosed their Q3 2016 results. The DFM has, however, …