News

Bloomberg France won’t back off from its planned tax on companies like Facebook Inc and Alphabet Inc’s Google even after the US suggested it may use trade tools against the levy. The French Senate passed a bill to impose a 3 percent tax on global tech companies with at least 750 million euros ($845 million) in worldwide revenue and digital ...

Bloomberg The US Justice Department is pursuing a criminal investigation into whether Johnson & Johnson lied to the public about the possible cancer risks of its talcum powder, people with knowledge of the matter said. The criminal probe, which hasn’t been reported previously, coincides with a regulatory investigation and civil claims by thousands of cancer patients that J&J’s Baby Powder ...

Bloomberg New York Governor Andrew Cuomo said the state transit agency must rid city subways of a growing homeless population. In a letter sent to the Metropolitan Transportation Authority’s (MTA) board of directors, Cuomo said they should confront the issue as part of a reorganisation plan the state legislature required last month. The MTA and the city police department have ...

Bloomberg A consortium led by General Electric Co and Power Construction Corp of China Ltd was officially awarded a contract for the Batoka Gorge Hydro Electric Scheme, which involves building a 2400 megawatt power station on the border of Zambia and Zimbabwe, the Zambezi River Authority said. Both Zambia and Zimbabwe are facing a power crisis as a drought has ...

Bloomberg Volkswagen AG’s “Love Bug” has been squashed by the SUV boom. The German automaker marked the end of production of the iconic Beetle at its plant in Puebla, Mexico, and wasted no time talking about what will take its place: a compact sport utility vehicle. It’ll be a beefed-up version of a model sold in China called Tharu and ...

ABU DHABI / WAM Search for Common Ground (Search) in collaboration with Hedayah, the International Centre of Excellence for Countering Violent Extremism (CVE), has released the first ever complete CVE Training Curriculum. Financed by the European Union’s Strengthening Resilience to Violent Extremism (STRIVE) Global programme, the initiative is aimed to raise awareness on collaborative CVE approaches among governments and civil ...

Bloomberg Abu Dhabi’s sovereign wealth fund agreed to buy about a 30% stake in Domestic & General Group Ltd, the UK appliance warranty provider owned by CVC Capital Partners. The deal with the Abu Dhabi Investment Authority (Adia) is expected to close by year-end, Domestic & General said in an emailed statement Wednesday, which confirmed an earlier Bloomberg News report. ...

ABU DHABI / WAM More than 200 of the respected energy experts, pioneers and decision makers from around the globe have now been lined up to lead the discussions at the 24th World Energy Congress in Abu Dhabi. To be held from September 9 to 12 at Abu Dhabi National Exhibition Centre (Adnec), the event will mark the first time ...

FUJAIRAH / WAM Stockpiles of oil products at the Fujairah port in the UAE increased for the first time in six weeks, against a backdrop of strong summer demand from utilities in the region and for jet fuel from Europe, data by the Fujairah Oil Industry Zone showed. Total stockpiles rose 4.2 percent over the past week to 19.36 million ...

Bloomberg Oil jumped to the highest in a week as an industry report showing a continued draw-down in US crude inventories tightened a supply outlook that’s being threatened by rising tension in the Middle East. Futures in New York rose as much as 2.7 percent on Wednesday, as Federal Reserve Chairman Jerome Powell signaled that policy makers may cut interest ...