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Bloomberg KKR & Co and Axel Springer SE are in talks about a strategic investment by the private equity firm that could take the German publisher private. KKR may launch a tender offer to buy out the minority shareholders in Axel Springer, which owns the mass-circulation daily Bild, according to a statement. Friede Springer — the widow of founder Axel ...

Bloomberg Even though President Donald Trump held fire earlier this month on auto tariffs that have the potential to further roil Europe’s struggling economy, a succession of domestic dilemmas on both sides of the Atlantic threaten to frustrate efforts at a trade pact before they’ve even begun. Ten months after Trump and European Commission President Jean-Claude Juncker struck a Rose ...

Bloomberg WeWork Cos is in talks with banks about arranging a $2.75 billion credit line ahead of a planned initial public offering, according to people with knowledge of the matter. JPMorgan Chase & Co. is leading the potential financing, said the people, who asked not to be identified because the plans aren’t public. Representatives for the bank and WeWork declined ...

ABU DHABI / WAM The United Arab Emirates has maintained its regional lead and ranked fifth globally in global competitiveness, according to the World Competitiveness Yearbook 2019, published by the Swiss-based International Institute for Management Development (IMD) on Wednesday. ‘‘UAE enters top five for the first time,’’ said the IMD World Competitiveness Rankings. ‘‘The United Arab Emirates — ranked 15th ...

Bloomberg Oil slumped as escalating trade hostilities between the US and China stoked fears of slowing global growth, overshadowing forecasts for a drop in American crude inventories. Futures in New York lost as much as 2.5% after rallying 2.1% following Chin- ese media suggestions on Wednesday that the nation could restrict rare earth exports to the US. American crude inventories ...

ABU DHABI / WAM Etihad Airways is transforming its economy class flight experience by upgrading its cabins and refurbishing its 23 narrow-body Airbus A320 and A321 aircraft. The renovated cabins will feature ergonomic “extra-spatial design” seats by UK-based Acro, an innovator in the manufacturing of aircraft seats. The retrofit programme, which includes new, personalised wireless streaming entertainment to smartphone and ...

Bloomberg The Trump administration again refrained from labelling China a currency manipulator, a decision that leaves one of the president’s campaign promises unfulfilled but avoids further escalation in the trade war between the world’s two largest economies. China said on Wednesday that “relevant international organisations,” and not the US, are in position to decide whether a country is a currency ...

Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA) inaugurated the first edition of the Belgian Travel Summit taking place until June 1 in Ras Al Khaimah. The four-day summit is the first joint congress of the Belgian trade unions of travel agencies at a national Belgium level and witnessed the attendance of the Association of Flemish Travel Agencies (VVR) ...

Dubai / Emirates Business du, from Emirates Integrated Telecommunications Company (EITC), strengthened its partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, to provide dynamic class leading data center services. As part of the agreement, du will continue to deliver advanced network solutions with increased operational and network efficiency that will further enhance the service ...

Dubai / Emirates Business As part of its initiatives during the Holy Month of Ramadan, Awqaf and Minors Affairs Foundation (AMAF) has earmarked AED560,000 to support 112 patients with high outstanding hospital bills in collaboration with the Tarahum Charity Foundation. Aimed at helping people who cannot afford quality healthcare, the joint initiative aligns with Article Nine of the Fifty-Year Charter ...