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Bloomberg General Oyster Inc, Japan’s largest oyster restaurant operator, has been approached by several Chinese companies interested in buying a stake or perhaps acquiring the business, according to people familiar with the matter. Three Chinese firms, including a large internet company, have expressed interest in separate deals with General Oyster, said the people, asking not to be identified because the ...

Bloomberg President Donald Trump’s trade war has sparked a surge in lobbying in the fight over his tariffs. American companies and business groups mostly opposing Trump’s tariffs closed out an active year of lobbying on trade issues in 2018. They expect a busy 2019 as the trade conflict continues and action is pending in Congress on a renegotiated deal with ...

Bloomberg International Business Machines Corp (IBM) gave a positive forecast for 2019 and beat analysts’ estimates for quarterly sales and earnings, led by its business that helps companies and governments manage their technology. Revenue was $21.8 billion in the fourth quarter, topping the average analyst forecast of $21.7 billion. Earnings were $4.87 a share, also beating analysts’ forecasts. IBM said ...

Bloomberg Google and Facebook Inc set company records for annual lobbying spending in 2018 as Washington’s scrutiny of Big Tech intensified. Alphabet Inc’s Google unit spent more than $21 million to influence Washington, according to federal disclosures, in a year when its chief executive officer, Sundar Pichai, made his first appearance before Congress. The search giant, which spent $4.9 million ...

Bloomberg ASML Holding NV, Europe’s largest semiconductor equipment maker, forecast first-quarter sales well below analyst expectations, mainly due to a fire at a strategic supplier. Shares fell as much as 4.9 percent to 134.50 euros at the market open. ASML Chief Executive Officer Peter Wennink said in Bloomberg TV interview that the mobile phone market “is not where I believe ...

Bloomberg PG&E Corp expects its looming bankruptcy to take about two years to resolve and has arranged $5.5 billion to fund its operations during the process. Its shares and bonds both gained. Four banks agreed to provide debtor-in-possession fun-ding including a $3.5 billion revolving credit facility, the embattled California utility said in a filing. “It’s a pretty substantial amount of ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) has been named the most valuable brand in the Middle East, by Brand Finance, the world’s leading brand valuation and strategy consultancy. Adnoc is the first regional oil and gas company to be featured in the annual Brand Finance Global 500 report with a brand valuation of $8.9 billion ...

ABU DHABI / WAM In yet a new sign of the resilient financial fundamentals enjoyed by the UAE banking system, the combined profits of four UAE-based banks listed on Dubai Financial Market (DFM) reached AED13.2 billion in 2018, a growth of 17.5 percent on year. According to statistics released by the Central Bank of the United Arab Emirates, the total ...

ABU DHABI / WAM Etisalat on Tuesday received the ‘most valuable portfolio brand’ in Middle East and North Africa (Mena), by Brand Finance as a recognition for the company’s impressive portfolio of brands becoming the first Middle East group to break the $10 billion barrier in terms of wider portfolio value. Etisalat boasts of a portfolio of brands such as ...

Abu Dhabi / WAM Senior industry figures from China and the UAE celebrated the groundbreaking of the Roadbot Tyre Project Kizad (Roadbot) on Tuesday, marking the development of the first tyre manufacturing plant in the UAE and the growth of downstream industry in Kizad, Abu Dhabi’s industrial hub and part of Abu Dhabi Ports. Developed by Chinese tyre manufacturer Roadbot ...