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Bloomberg President Donald Trump’s re-election hopes have always hinged on supercharging the US economy, and data showing faster than expected growth provided him a boost just as he prepares to ramp up his campaign. Trump heralded the Commerce Department report that gross domestic product rose at a 3.2 percent annual rate in the first quarter of 2019 — describing it ...

Bloomberg PG&E Corp., the California utility giant that filed for bankruptcy in January, is falling behind on some deadlines for inspections, repairs and tree-clearing work designed to reduce wildfire risks in Northern California this year. The state’s largest utility said circumstances beyond its control, such as a rainy winter and permitting requirements, were making it difficult to inspect some of ...

Bloomberg Over the past decade, Uber Technologies Inc. proved itself to be one of the most prolific young fundraisers ever. It pulled together more than $20 billion from private investors. After burning through more than half that amount in just the last three years, Uber will soon see whether it can recreate that magic on the stock market. The ride-hailing ...

Bloomberg A regulatory fight over Elon Musk’s tweeting habit may be over — at least for now. Tesla Inc.’s chief executive officer and the US Securities and Exchange Commission said in a court filing that they are settling a legal dispute over how Musk posts news about his electric-car company, avoiding a decision by a federal judge in New York ...

Bloomberg German manufacturing remained in a slump at the start of the second quarter, casting a cloud over the euro-area economy as well as the European Central Bank’s hopes for a quick recovery. Factory output in Europe’s largest economy contracted for a fourth month running in April, according to a survey. Manufacturing in the euro area also shrank, while a ...

ABU DHABI / WAM The Board of Directors of the Emirates Development Bank (EDB) approved AED1.45 billion worth of housing finance for UAE nationals, during its meeting on Wednesday. The bank’s financing solutions provide up to AED5 million for home buyers and up to AED3 million towards construction, enabling Emiratis to maintain a good standard of living. The meeting was ...

Bloomberg Saudi Arabia started the year with a quarterly budget surplus for the first time since the 2014 collapse in oil prices. The biggest Arab economy posted a surplus of 27.8 billion riyals ($7.4 billion) in the first quarter, helped by an increase in non-oil revenue as well as income from crude exports, Finance Minister Mohammed Al- Jadaan told an ...

Abu Dhabi / WAM The total assets of Central Bank of UAE hiked to a four-decade-time high of AED432.6 billion by the end of March, a growth of 3.5 percent from AED417.7 billion by end of 2018, CBUAE statistics showed. The significant growth is driven by a rally in deposits to AED133.5 billion by March-end, up 25 percent from AED106.8 ...

Bloomberg Trade negotiators led by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week, the White House said, as both sides work to reach a draft agreement by next month. Talks starting next Tuesday “will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agr- iculture, services, purchases and enforcement,” the ...

ABU DHABI / WAM Etihad Cargo on Wednesday celebrated its position as a market leader in the air cargo digitalisation and innovation community, six months after migrating to a new technology platform. Last year, the carrier saw the introduction of several transformative programmes across its fleet and network, commercial and operational processes, and its physical and digital infrastructure. This culminated ...