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Bloomberg Oyo Hotels & Homes, a lodging operator backed by SoftBank’s Vision Fund, is betting the same formula that fuelled the company’s rapid growth in India and China can work in the US. Oyo, which opened its first US hotel at the beginning of the year, plans to invest $300 million to expand in the country, Chief Executive Officer Ritesh ...

Bloomberg Chinese telecommunications giant Huawei Technologies Co sued the US over the seizure of telecommunications equipment by American officials who were investigating whether the gear required an export license to leave the country. Huawei, China’s largest smartphone maker, said it’s been waiting for nearly two years for a decision by the US Commerce Department on whether the unspecified equipment can ...

Bloomberg Poland blocked a push endorsed by German Chancellor Angela Merkel for the European Union to end greenhouse gas emissions by 2050, setting a sour tone for a summit that ended with a failure to decide who’s going to lead the bloc’s key institutions. Before the gathering, Merkel allied with the heads of several mostly western EU states to support ...

Bloomberg PG&E Corp. has been shopping a new plan that would see the bankrupt California utility em-erge from bankruptcy in March with a $14 billion fund established to address past wildfire claims and another $20 billion statewide fund for future fires. The proposal, the first one that PG&E has made, is expected to be filed in August, according to a ...

Bloomberg The two biggest US coal miners are joining forces as the industry’s fortunes continue to wither. Arch Coal Inc. and Peabody Energy Corp. are combining mines in Wyoming and Colorado through a joint venture, the companies said in a statement. The move, which analysts said was long-expected, will create about $820 million in savings, the miners said. The deal ...

Bloomberg UnitedHealth Group Inc. won US antitrust approval for its $4.3 billion acquisition of DaVita Inc.’s physician practice group, letting the health conglomerate close a deal it struck 19 months ago to expand its business of taking care of patients directly. The Federal Trade Commission said that it had signed off on the tie-up after UnitedHealth agreed to sell assets ...

Bloomberg Workers at a major auto parts plant in Michigan are poised to return to work after a brief strike, alleviating the threat of a supply disruption for carmakers Ford Motor Co., Tesla Inc. and Fiat Chrysler Automobiles NV. The United Auto Workers called the strike after failing to reach a tentative contract agreement with Faurecia SA. A tentative deal ...

GENEVA / WAM The number of people fleeing war, persecution, and conflict exceeded 70 million in 2018. This is the highest level that UNHCR, the UN Refugee Agency, has seen in its almost 70 years. Data from UNHCR’s annual Global Trends report, released on Wednesday, shows almost 70.8 million people are now forcibly displaced. To put this in perspective, this ...

Bloomberg Global oil demand growth is slowing. That is the view of all three major oil forecasting organisations, who have cut their assessments for what they expect in terms of an increase in crude consumption this year. The latest outlooks from the International Energy Agency, the US Energy Information Administration and the Organisation of Petroleum Exporting Countries (Opec) all show ...

DUBAI / WAM Hamad Obaid Al Mansoori, TRA Director-General, said that the launch of Microsoft cloud services in the UAE confirms the country’s leading role in the ICT sector and as one of the world’s leading hubs of digital transformation in all sectors. In a statement, on the launch of Microsoft cloud services in UAE, Al Mansoori said that the ...