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Bloomberg If the latest monthly manufacturing data suggests anything, it’s that president Donald Trump’s tariffs haven’t yet solved a key issue haunting US steelmakers: China’s subsidising of its own industry. Manufacturing jobs in December unexpectedly fell by 12,000 with a key part of the drop coming in businesses that make raw and fabricated metals. The metal-making industries accounted for a ...

Bloomberg One of president Donald Trump’s top economic advisers played down the prospects of the administration concluding further phases of a trade deal with China, saying any future negotiations would depend on how an initial accord — due to be signed next week — is implemented. “Phase two’s going to depend a lot on how phase one goes,” Larry Kudlow ...

Bloomberg The US labour market ended the year with less momentum, as payroll gains cooled by more than forecast and wages rose at the weakest annual pace since 2018, even as unemployment held at a half-century low of 3.5%. Nonfarm payrolls rose 145,000 in December, the least since May, after a downwardly revised 256,000 advance the prior month, according to ...

Bloomberg US antitrust enforcers are proposing new guidelines for determining whether to approve mergers that combine companies that don’t compete with one another but operate in the same supply chain. The Justice Department and Federal Trade Commission announced criteria for how they would evaluate so-called vertical mergers in the future. If finalised, the guidelines would replace rules that haven’t formally ...

Bloomberg Wirecard AG Chairman Wulf Matthias resigned after months of controversy over the digital payments company’s accounting practices. Matthias stepped down as chairman of the supervisory board for personal reasons, and will be replaced by Thomas Eichelmann, the Aschheim, Germany-based company said Friday in a statement. Matthias will remain a member of the board. The payment processor’s shares have whipsawed ...

Bloomberg Amazon.com Inc said it had fired employees for leaking customer email addresses and phone numbers to an unspecified third party, the second time this week the technology giant acknowledged some workers had improperly accessed customer data. “We are writing to let you know that your email address and phone number were disclosed by an Amazon employee to a third ...

ABU DHABI / WAM The number US companies’ foreign branches operating in the UAE grew by around six percent from 2016 to 2018, reflecting the Emirates’ leading position as a centre of regional trade and economic activities. According to statistics from the Ministry of Economy, this number grew from 270 branches in 2016 to 286 by the end of 2018. ...

DUBAI / Emirates Business Dubai Airport Freezone Authority (Dafza) on Wednesday announced that it contributed 12% of Dubai’s AED 1.02 trillion foreign trade in the first nine months of 2019. The results highlight the success of Dafza’s strategic projects that have played a role in supporting Dubai’s economic growth and enhancing its GDP. Dafza’s operational performance supported the increase in ...

DUBAI / WAM The UAE has so far invested AED1 trillion ($270 billion) in airport infrastructure development projects highlighted the General Civil Aviation Authority’s Director-General. In a statement released by the UAE aviation authority, Saif Mohammed Al Suwaidi said such investments span development projects across the country and a fleet of 884 commercial aircraft. The aviation sector is experiencing significant ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation said it was closely following regional developments, and reaffirmed the importance of de-escalating current tensions. In a statement issued on Wednesday, the ministry stressed the importance of dialogue and political solutions in the current situation. It also confirmed that recent developments will not affect citizens, residents or visitors ...