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Bloomberg SoftBank Group Corp has tapped investment bankers at Houlihan Lokey to explore options for easing WeWork’s cash crunch, according to people with knowledge of the discussions. Houlihan is working on cutting liabilities as WeWork mulls a separate deal that could hand control of the struggling office-sharing company to SoftBank, its biggest shareholder, according to the people. Other measures for ...

Bloomberg India, the world’s top palm oil consumer, is shunning purchases from Malaysia, the No 2. producer, after the southeast Asian nation’s prime minister criticised its policy in Kashmir, sparking the latest trade spat in the region. Malaysian Prime Minister Mahathir Mohamad last month told the United Nations that India “invaded and occupied” Kashmir. Since then, many Indian buyers of ...

Bloomberg Labour talks between General Motors (GM) Co and United Auto Workers (UAW) leaders are pushing into Wednesday, inching toward a tentative agreement that could end a strike now in its fifth week. Negotiators are showing signs of progress: GM Chief Executive Officer Mary Barra made a personal appearance at the main bargaining table, and UAW bosses have summoned their ...

Bloomberg The UK will introduce mandatory checks on trucks to ensure they’re ready to cross the border in the event of a no-deal Brexit as a majority of businesses remain unprepared, the public spending watchdog said. The border will be “less than optimal” under a no-deal exit, meaning delays for businesses and the public, the National Audit Office (NAO) said ...

Bloomberg Margrethe Vestager, the European Union’s incoming technology chief, defended her dual role as a rulemaker and enforcer of antitrust law, saying her investigations face intense scrutiny and can aid new regulation. Vestager faced some criticism from the European Parliament’s biggest party, which argued that it’s not possible to “strengthen antitrust efforts and fine tech giants and, at the same ...

Bloomberg Germany’s car industry built its world-class reputation on sedans like the Audi A4, the BMW 5-Series and the Volkswagen Passat, reliable models that look good in the family driveway or company lot. But a shift in consumer taste to more hulking vehicles is coming at the worst possible time. Demand for sport utility vehicles that initially took hold in ...

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, and President Vladimir Putin of Russia on Tuesday held an official meeting at the Presidential Palace in Abu Dhabi. His Highness welcomed the Russian President and his accompanying delegation. Sheikh Mohamed bin Zayed expressed ...

ABU DHABI / WAM The value of grants provided by the UAE in the first half of 2019 rose to AED10.5 billion, an increase of 56.7 percent compared to the same period in 2018. The total value of registered grants provided by the country in 2018 amounted to AED13.3 billion, a growth of 14.7 percent compared to 2017, according to ...

DUBAI / Emirates Business Chinese tourists to Dubai can now benefit from instant VAT refund capabilities at Dubai Airports via the We Tax Refund on the WeChat Mini Program, launched by Chinese tech giant, Tencent, and international payments service provider, Planet. With the support of Dubai’s Dubai Tourism, the new integrated service provides a seamless and secure way for visitors ...

Bloomberg The International Monetary Fund (IMF) made a fifth-straight cut to its 2019 global growth forecast, citing a broad deceleration across the world’s largest economies as trade tensions undermine the expansion. The world economy will grow 3% this year, down from 3.2% seen in July, with the 2020 estimate lowered to 3.4% from 3.5%, the fund said on Tuesday in ...