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Bloomberg General Electric Co is set to close out one of its worst years since the financial crisis, and 2019 may be another precarious one. The challenges are many and over the next few months, new Chief Executive Larry Culp will have to revamp GE’s power business, sort out liquidity problems arising from cash flow shortages and soaring financial liabilities, ...

Bloomberg Google will invest more than $1 billion to expand its New York City presence, the search giant said in a blog post. The Alphabet Inc division said it had reached lease agreements at 315 and 345 Hudson St. and signed a letter of intent at 550 Washington St. to make up the new 1.7 million-square-foot (158,000-square-meter) campus, to be ...

Bloomberg European Union negotiators reached agreement on tighter caps on carbon dioxide from cars in a bid to spur the development of clean vehicles. Representatives of EU governments and the European Parliament fixed a 37.5 percent CO2-reduction target for 2030 compared with the 2021 limit. The deal in Brussels marks a compromise after the 28-nation Parliament in early October demanded ...

Bloomberg Oracle Corp’s shares rose on a strong sales forecast, signaling the world’s second-largest software maker expects greater customer demand in its transition to cloud-based computing. Revenue will increase 2 percent to 4 percent in the current quarter, holding currency exchange rates constant, with higher growth through the second half of the fiscal year, Chief Executive Officer Safra Catz said ...

Bloomberg A UK startup that designs semiconductors used for artificial intelligence applications has raised $200 million from investors including BMW AG and Microsoft Corp. Graphcore Ltd is one of a number of companies trying to design a new class of chips that will be better at crunching the vast amount of data needed to make computers smarter. They argue that ...

Bloomberg T-Mobile US Inc won US national security approval for its takeover of Sprint Corp, one of the regulatory conditions needed before the two wireless carriers can combine. The Committee on Foreign Investment in the US, or Cfius, has approved the proposed transaction, the companies said in a joint statement December 17. The approval moves the No. 3 and No. ...

DUBAI / WAM The UAE reiterated its position on the issue of global warming and climate change at the closing meetings of the 24th Conference of the Parties (COP24) to the United Nations Framework Convention on Climate Change (UNFCCC) calling for quick enforc- ement of the procedures and global standards adopted by the nearly 200 nations and territories to implement ...

AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, approved the general budget of the Ajman Government for 2019- 2021. The budget amounts to AED4.140 billion, a growth of 17 percent. The general budget for the 2019 fiscal year was also approved, as part of a financial plan valued at AED1.380 billion ...

ABU DHABI / WAM The UAE monetary base expanded 6 percent to an 11-month high of AED371.6 billion by end of November from AED350.6 billion in October, according to Central Bank of UAE statistics. Certificates of deposits purchased by banks slightly declined to AED125.8 billion. Current accounts of banks at CBUAE multiplied to AED36.3 billion in November from AED18.2 billion ...

Dubai / WAM Borouge, Khalifa Industrial Zone Abu Dhabi (Kizad), National Industrialisation Company (Tasnee) and Oman Oil Refineries and Petroleum Industries Company (Orpic) have announced their association with ArabPlast 2019, which is set to take place from January 5 to 8, at Dubai International Convention and Exhibition Centre. In a press conference, it was announced that Borouge will serve as ...