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Bloomberg Just as New Yorkers were absorbing Amazon.com Inc.’s decision to abandon a new office hub after tangling over $3 billion in tax breaks, General Electric Co. was beating a retreat in Boston, canceling plans to build an office tower and promising to return $87 million in government incentives. In Wisconsin, Taiwanese manufacturer Foxconn was backing away from promises it ...

Bloomberg Apollo Global Management LLC agreed to buy the majority stake in Cox Enterprises Inc.’s television broadcasters, transforming the private equity giant into a key player in local TV with 13 stations from Florida to Seattle. Cox will keep a minority stake and help operate the stations via a new business based in Atlanta, the companies said. The deal also ...

Bloomberg The fate of Windstream Holdings Inc. was cast into doubt after a court ruled that the rural phone company defaulted on its bonds in 2015 by spinning off Uniti Group Inc. Windstream shares fell as much as 43 percent in extended trading. The ruling in Manhattan federal court is a victory for New York hedge fund Aurelius Capital Management ...

Bloomberg A Russian court ruled that Michael Calvey, the founder of private-equity firm Baring Vostok Capital Partners and one of the country’s longest-standing American investors, should be held in custody for nearly two months in an embezzlement case. Calvey will be held through April 13, the judge said. Calvey’s lawyer said the investor maintains his innocence and will appeal. Calvey ...

Bloomberg Sebastian Kurz is getting tough on how the country’s family silver is managed. The Austrian Chancellor’s government put a new team in charge of the more than 22 billion euros worth of company stakes held by the state, giving marching orders that for the first time in decades include a license to buy. The more active role that Kurz ...

DUBAI / WAM Emaar Malls – the shopping malls and retail business majority-owned by Emaar Properties, recorded a full-year 2018 net profit of AED2.230 billion, a growth of 7 percent over the Fiscal Year (FY), 2017 net profit of AED2.086 billion. Revenue for FY 2018 was AED4.446 billion, 23 percent higher than FY 2017 revenue of AED3.629 billion. Recording consistent ...

Emirates Business Aldar Properties PJSC (Aldar) reports robust financial results for the 12 months to December 31, 2018 – a transformational year with strong momentum building in the second half that has continued into 2019. The company posts AED 6.3 billion revenue, up 2%, supported by asset acquisitions and development revenue recognition as projects under construction achieve milestones. The company’s ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic) on Wednesday reported its financial results for the full year ended December 31, 2018. Adnic delivered a strong set of results, with gross written premiums up by 10.1% year-on-year to AED 2.91 billion driven by growth across core lines of business. Net technical profit of Adnic increased by 22.8% to ...

Bloomberg Oil climbed for a second day after Saudi Arabia pledged to deepen production cuts and US President Donald Trump said he might extend a deadline for additional tariffs on China. Futures in New York added as much as 1.5% after rising 1.3% on Tuesday. The world’s biggest crude exporter will continue to curb output more than required by a ...

ABU DHABI / WAM Etihad Airways will introduce the Boeing 787-9 Dreamliner on its daily service from Abu Dhabi to Chengdu, China, effective July 1, replacing the Airbus A330-200 currently operating the route. Also from July 1, the airlines’ daily service from Abu Dhabi to Shanghai will be upgraded from the 787-9 to the larger 787-10 Dreamliner. Once the changes ...