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Bloomberg Activist investor Dan Loeb disclosed a $1.5 billion stake in Sony Corp. and pushed the company to make dramatic changes, including spinning off its semiconductor business and listing it in Japan. Sony’s shares rose 3.1% in Tokyo after Loeb’s Third Point published a letter and 102-page presentation pushing for changes at the Japanese media and electronics giant, including sales ...

Bloomberg Volkswagen AG valued its heavy-trucks business at as much as $18.6 billion in a planned initial public offering that will test Chief Executive Officer Herbert Diess’s ambition of overhauling the carmaking behemoth. The manufacturer intends to offer stock in Traton SE, which sells MAN and Scania AB vehicles, for between 27 euros to 33 euros per share, it said ...

Bloomberg Netflix Inc. is unveiling new video games based on its shows, stepping up efforts to turn its streaming platform into a multimedia empire. Netflix is just starting to explore the possibility of turning its movies and TV shows into other products. The show is one of the service’s most popular, especially in the US and among younger viewers. The ...

Bloomberg A Canadian program designed to speed up the hiring of foreign talent is attracting thousands of tech workers and other skilled employees, many of whom are unhappy with restrictive US immigration policies. The Global Skills Strategy, which came into effect two years ago, has attracted about 24,000 people over the past two years, according to government figures. The program ...

Bloomberg New entrants to the London ride-hailing market could potentially pose a risk to one of Uber Technologies Inc.’s most profitable markets, according to analysts at Morgan Stanley. Every 400 basis point change in UK rideshare adjusted net revenue would result in a $100 million hit to Uber’s 2020 profit, analysts led by Brian Nowak wrote in a note. The ...

Bloomberg Software maker CrowdStrike Holdings Inc. soared in its trading debut after raising $612 million in one of the biggest-ever initial public offerings for a cybersecurity company. Shares opened at $63.50 in New York and rose as much as 97 percent from their IPO price to $67. The stock closed up 71 percent to $58. That valued the company at ...

Abu Dhabi / WAM The UAE ranked 27th globally in attracting foreign direct investment (FDI) flows in 2018, according to the United Nations Conference on Trade and Development’s World Investment Report 2019, three positions up from its 2017’s classification by UNCTAD. Overall, the report said, the UAE received in 2018 direct foreign investments of more $10.4 billion, maintaining lead as ...

Bloomberg Saudi Arabia is working to balance global oil markets this year, the country’s energy minister said when asked if there’s an impending surplus. The comments come a day after the International Energy Agency forecast global supplies will expand far more than demand next year, putting further pressure on Opec. Saudi Arabia and its allies, including Russia, are expected to ...

ABU DHABI / WAM The UAE Cabinet adopted formation of the Advanced Skills Council under the chairmanship of Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills, to oversee relevant policies, programmes and initiatives. The council will support and oversee the implementation of the recently approved Strategy for the Advanced Skills National ...

Bloomberg Oil posted a weekly decline as the escalating US-China trade war and swelling American stockpiles overshadowed tanker attacks in the Middle East. Futures settled up 0.4 percent in New York but still closed the week down 2.7 percent. London-traded contracts slid for a fourth straight week. The White House blamed Iran for tanker attacks near the Strait of Hormuz, ...