News

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 ...

Bloomberg US-China trade talks in Beijing are progressing and were poised to extend into Wednesday, according to an American negotiator. The discussions during the past two days “went well,” according to Steven Winberg, an Energy Department official who spoke to reporters in Beijing. “I can confirm we’re continuing tomorrow.” The reason for the extension of meetings originally scheduled for two ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) held discussions with the commercial office of the Consulate General of the United States in Dubai on enhancing economic relations between the emirate of Sharjah and the United States, as well as increasing trade and mutual cooperation between the business communities of both sides. These discussions took place during ...

Dubai / Emirates Business Between January and December 2018, Emirates SkyCargo, the freight division of Emirates, flew close to 2.6 million tonnes of cargo across six continents. From fruits and vegetables to space satellites, from pharmaceuticals to domestic pets, the air cargo carrier transported goods that have had a direct positive impact on the lives of millions. Here are some ...