News

Bloomberg HNA Group Co sold a building in Manhattan to help ease the embattled conglomerate’s debts and stave off US concerns about a Chinese company owning property near Trump Tower. HNA completed the sale, the group said in a statement, without providing details. Bisnow reported earlier that investor and real estate developer Jacob Chetrit and his sons bought the tower ...

Bloomberg Siemens AG and Alstom SA are pushing ahead with the sale of train-equipment assets in a bid to salvage their rail merger amid European Union antitrust scrutiny, people with knowledge of the matter said. Companies including Hitachi Ltd, Wabtec Corp, Switzerland’s Stadler Rail AG and Thales SA submitted offers by a deadline earlier this month, the people said, asking ...

Bloomberg Mexico will cut the tax rate paid by companies on the proceeds of initial public offerings to 10 percent as part of a broad-ranging plan to boost public offerings and spur growth in the financial system. Finance Minister Carlos Urzua announced the measure at an event led by President Andres Manuel Lopez Obrador and Banco de Mexico Governor Alejandro ...

Bloomberg Skyworks Solutions Inc, a key Apple Inc supplier, cut sales and profit forecasts. Fiscal first-quarter revenue will be about $970 million, down from prior guidance of between $1 billion and $1.02 billion. Earnings, excluding certain items, will be $1.81 to $1.84 a share, versus a previous forecast of $1.91, the company said. Chief Executive Officer Liam Griffin blamed the ...

Bloomberg Fiat Chrysler Automobiles NV is nearing a settlement with the US Justice Department that would end a two-year criminal investigation into whether it knowingly sold diesel vehicles that violated clean-air rules, according to two people familiar with the matter. The resolution would include a financial penalty in line with Fiat Chrysler’s guidance to investors, one of the people said. ...

Bloomberg Growth in Mercedes-Benz car deliveries tumbled to the lowest in a decade last year in a swift reversal from double-digit gains after sales in Europe and North America declined. Daimler AG’s luxury brand delivered 2.31 million cars worldwide in 2018, a rise of just 0.9 percent almost entirely driven by China. The small uptick probably was still enough to ...

Bloomberg Union Pacific Corp surged the most since 2009 after hiring a protege of railroading legend Hunter Harrison to guide the company’s shift to a new efficiency strategy. Jim Vena, 60, will become chief operating officer on January 14 and oversee the implementation of precision sche- duled railroading, a system pioneered by Harrison and adopted by Union Pacific late last ...

Bloomberg International Business Machines Corp took another step towards bringing the world of quantum computing to commercial applications — and CEO Ginni Rometty sees real results coming as soon as 2021. “We’re probably in a two- to five-year time frame that you’ll actually start to see commercial businesses doing real commercial applications,” Rometty said in an interview on Bloomberg TV. ...

ABU DHABi / WAM Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Industry, has said that Opec and its members “don’t control” oil prices and that the market “dictates” them. “What Opec strives to achieve”, he added, “is a balanced oil market that is fair for both consumers and producers, and encourages the many trillions of dollars of investment ...

DUBAI / WAM Dubai’s leading business entities in trade and investment, real estate and startup development, comprising more than 80 companies, visited India as part of a delegation led by Dubai Investment Development Agency, Dubai FDI, the investment development age-ncy of Dubai Economy (DED) and organised by key partner Musthafa and Almana. The delegation held seminars, meetings in Bengaluru and ...