News

Bloomberg Nissan Motor Co’s third-highest-ranked executive is planning to leave the company to join a leading electric-motor company, an abrupt move that deals yet another blow to the scandal-plagued Japanese carmaker. The shares fell to their lowest in 8 years. Jun Seki, the vice chief operating officer in charge of Nissan’s performance recovery, plans to join Japanese manufacturer Nidec Corp ...

Bloomberg The operator of China’s high-speed rail line between Beijing and Shanghai kicked off its initial public offering, which will for the first time allow investors to buy shares in what is the world’s largest such network. Beijing-Shanghai High-Speed Railway Co, a unit of state-owned China Railway Corp, plans to sell as many as 6.3 billion new shares, or 12.8% ...

Bloomberg Uber Technologies Inc’s former Chief Executive Officer Travis Kalanick is stepping down from the board, severing his last ties to the company he co-founded a decade ago and helped become one of the world’s most valuable, and controversial, startups. Kalanick, 43, has sold all of his remaining shares in the ride-hailing giant and plans to focus on his new ...

Bloomberg Dell Technologies Inc, the computer company founded by Michael Dell, is considering buying the remaining outstanding shares in cybersecurity services operator Secureworks Corp, according to people with knowledge of the matter. The Round Rock, Texas-based company is exploring making an offer for the remaining 13.8% of shares it doesn’t own of Secureworks and fully consolidating the business, said the ...

Bloomberg Tesla Inc has lined up more than 10 billion yuan ($1.4 billion) in financing from local banks for its Shanghai factory as it prepares to begin deliveries of China-made Model 3 sedans in the country, people familiar with the matter said. An announcement will probably be made as soon as this week, one of the people said, asking not ...

Bloomberg China’s ByteDance Inc created one of the country’s rare global hits with the addictive video app TikTok Now the US government is threatening that success as officials in Washington warn the service presents a security threat. The Beijing-based company, led by Chief Executive Officer Yiming Zhang, is weighing a range of options to address those concerns, according to people ...

Abu Dhabi / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the UAE strategy of advanced industries, mainly those that are in line with fourth industrial revolution and its applications, with the aim of promoting industrialisation and fourth industrial revolutions applications ...

Bloomberg Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output. Their agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the so-called neutral zone can produce as much as 500,000 barrels a day — ...

Bloomberg Emirates Airline President Tim Clark plans to retire in June after 16 years at the helm of the Dubai-based carrier, the world’s largest by international traffic. The 70-year-old will stay on in an advisory role even after stepping down, Chairman Sheikh Ahmed bin Saeed Al Maktoum said in an internal memo seen by Bloomberg. Clark joined Emirates’ founding team ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), awarded contracts valued at AED1.130 billion to various companies in 2019, as part of the development of district cooling infrastructure in Dubai. The contracts included engineering consultancy; plant and other constructions, design and operation of cooling plants; expansion of district cooling pipe network; development of new networks to serve the latest ...