News

Bloomberg An insolvency case in a remote city on the Tibetan Plateau shows how in China, most outcomes are better than getting booted out of the stock market. A local court in Qinghai — a huge and sparsely-populated province that’s home to the country’s largest lake — threw a lifeline to Qinghai Salt Lake Industry Co when it accepted a ...

Bloomberg Indonesia posted a surprise trade deficit in September as the US-China trade war and a global slowdown continued to weigh on exports in Southeast Asia’s biggest economy. Exports contracted for an 11th consecutive month, falling 5.7% from a year ago but not as much as the decline of 6.5% forecast in a Bloomberg survey of economists. That resulted in ...

Bloomberg UK carmakers, already reeling from more than 500 million pounds ($628 million) in costs to prepare for Brexit, made an eleventh-hour call on the government to strike a deal with the European Union to safeguard the future of the industry. Crashing out of the EU would threaten jobs and the sector’s long-term survival, the Society for Motor Manufacturers and ...

Bloomberg Harley-Davidson Inc has halted production of LiveWire, the debut electric bike it’s counting on to attract new riders. The motorcycle maker recently discovered an issue during final quality checks, according to an emailed statement that doesn’t provide details. Harley said it stopped production and deliveries as it conducts additional testing and analysis. Chief Executive Officer Matt Levatich, who’s presided ...

Bloomberg Investor confidence in Germany’s economic outlook remained weak in the latest sign of concern that the nation has slipped into a recession amid trade tensions. ZEW’s index of expectations for the next six months declined to minus 22.8, compared with minus 22.5 last month. Measures of current conditions in Germany and of expectations for the euro zone both worsened. ...

Bloomberg WeWork has backed out of an ambitious project to outfit a 36-story tower in Seattle with co-working space and its co-living offshoot, as the company looks to shore up its finances. WeWork won’t lease the building at 3rd Ave and Lenora St from Martin Selig Real Estate, according to a joint statement from the companies. The decision leaves one ...

Bloomberg Apple Inc is planning to bring 5G to the iPhone next fall, more than a year behind some rivals. The company can ill afford to let the timing slip. Apple’s most recent iPhone launch focussed on camera improvements, and there was no mention of 5G, the latest, fastest wireless standard. Meanwhile, at least 20 5G smartphones are being rolled ...

ABU DHABI / WAM The upcoming visit of Russian President Vladimir Putin to the UAE reflects the strong strategic partnership between the two nations and will pave the way for further cooperation in a number of vital sectors, namely in oil and peaceful nuclear energy, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry. Speaking to ...

Bloomberg China wants to hold more talks this month to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter. Beijing may send a delegation led by Vice Premier Liu He, China’s top negotiator, to finalise a written deal that could be ...

DUBAI / WAM Dubai external trade with Russia has witnessed rapid growth in the past few years, from AED 5.5 billion in 2016 to AED 7.38 billion in 2017 (37%) and in 2018 it made AED 9.21 billion, a 25% increase compared to 2017. The figures show a 67% growth in two years from 2016 to 2018. Trade with Russia ...