Bloomberg Fiat Chrysler Automobiles NV agreed to pay a $40 million penalty related to years of sales reports the US Securities and Exchange Commission (SEC) said were fraudulent. The Italian-American automaker issued statements that misled investors by wrongly claiming monthly gains, the SEC said. Fiat Chrysler inflated results by paying dealers to report fake sales. The company also maintained a ...
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Johnson goes green with cash for EVs
Bloomberg Boris Johnson’s Conservative Party will pledge funding for electric cars, fusion power and new green spaces at its conference next week, in the latest sign of how British political parties are fighting for environmentally friendly votes. The Conservative annual conference, which kicked off in Manchester, North West England, is likely to be dominated by Brexit. But the party is ...
Read More »Nestle steps up testing on coffee beans after weedkiller found in it
Bloomberg Nestle SA is increasing checks on the coffee it buys, after recent tests showed beans from some countries had levels of the weedkiller glyphosate that are close to a regulatory limit. The world’s largest coffee roaster has informed suppliers of Indonesian and certain Brazilian beans of the new procedures, which go into effect starting from October 1, according to ...
Read More »Apple hires AstraZeneca CIO David Smoley
Bloomberg Apple Inc has hired David Smoley, chief information officer (CIO) of pharmaceutical giant AstraZeneca Plc, for a vice president role. Smoley joined the Cupertino, California-based technology giant this month after six years at the UK-based drugmaker. At Apple, he will work in a similar information technology role and won’t be focused on Apple’s growing healthcare efforts. He is reporting ...
Read More »JLR to close plants for a week as Brexit safeguard
Bloomberg Jaguar Land Rover (JLR) plans to close its UK factories for a week in November to guard against disruption to supply chains from a possible no-deal Brexit, Chief Executive Officer Ralf Speth said. The shutdown will go ahead whether or not Britain seeks an extension to the October 31 deadline for leaving the European Union, he said at a ...
Read More »Saudi Aramco recovers oil output faster than expected
Bloomberg Saudi Arabia is recovering faster than expected from the biggest attacks ever on its oil industry, beating its own target for restoring capacity by about a week. State oil producer Saudi Aramco has boosted total production capacity to more than 11 million barrels a day, according to people with knowledge of the situation. The news helped to push crude ...
Read More »UAE reaching for stars as Emirati astronaut Hazza blasts off to space
DUBAI / WAM The Mohammed bin Rashid Space Centre (MBRSC), announced the successful launch of the space mission carrying the first Emirati astronaut, Hazza Al Mansoori, aboard the Russian spacecraft Soyuz MS-15, at 5:57 pm UAE time. This is the UAE’s first mission to the International Space Station (ISS), from the Baikonur Cosmodrome in Kazakhstan. Al Mansoori is accompanied on the ...
Read More »Emirates NBD launches first digital business bank
Dubai / WAM Emirates NBD on Wednesday announced that it has created E20., the UAE’s first digital business bank for entrepreneurs and small and medium-sized enterprises (SMEs), businesses. In a press release issued by Emirates NBD on Wednesday, E20. will enable start-ups, sole proprietors, freelancers, gig economy workers, fintechs and insurtechs and small-to-medium sized companies to open a bank account ...
Read More »EU eyes $4 billion tariff strike to take trade fight to Trump
Bloomberg The European Union (EU) is weighing an aggressive new approach to its trade dispute with the US, signaling a willingness to engage in the combative tactics embraced by President Donald Trump and risking a further deterioration in transatlantic relations. The EU is considering imposing tariffs on more than $4 billion of US exports, citing as justification a 22-year-old World ...
Read More »Cityscape Global 2019 opens
Dubai / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, on Wednesday visited the Cityscape Global 2019 – the 19th annual edition of the gateway event for regional real estate investment – at Dubai World Trade Centre (DWTC). HH Sheikh Ahmed was joined ...
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