News

Bloomberg When Nissan Motor Co.’s redesigned Altima flagship goes on sale this week, it will pound another nail in the coffin of sedans built by companies based in and around Detroit — the city that invented the whole idea of family cars. Fiat Chrysler Automobiles NV stopped building sedans in the US two years ago. Ford Motor Co. plans to ...

Bloomberg The US and Canada’s trade deal could spell relief for car manufacturers thousands of miles across the ocean. Toyota Motor Corp. and Honda Motor Co. are among the automakers that would have the most to lose by any additional tariffs, as the Japanese giants build vehicles in Canada for the US market. Those include the RAV4, Toyota’s best-selling sport ...

Bloomberg China has drafted sweeping regulations targeting online travel agencies and platforms based in the country after a deadly boating accident involving Chinese tourists in Thailand fueled claims of lax oversight, according to a person familiar with the matter. The regulation by China’s Ministry of Culture and Tourism would mandate that online travel providers improve rescue and emergency plans, better ...

Bloomberg On August 28, 2000, Apple’s hottest product was a candy-coloured computer, Donald Trump was a New York real estate mogul and General Electric was worth some $600 billion. Apple and Trump have gone on to greater things. GE? It’s on the verge of a staggering milestone: a half-trillion dollars in market value wiped out since that all-time high 18 ...

Bloomberg Tesla Inc. jumped in pre-market trading after founder Elon Musk settled a lawsuit brought by regulators over his August tweet storm, reassuring investors he’ll still be calling the shots at the electric-car maker struggling to meet production goals. Under the agreement with the US Securities and Exchange Commission, Musk and the company each will pay a $20 million penalty, ...

Bloomberg Aston Martin pared back its supercharged stock-market ambitions ahead of a planned initial public offering this week, lowering the top end of its targeted range by about 11 percent. The new goal is 18.50 to 20 pounds ($24-$26) per share, the luxury car maker said in an emailed term sheet. Previously, the company had set a range of 17.50 ...

Bloomberg UK manufacturing growth unexpectedly picked up in September, rounding off the third quarter on an upbeat note. IHS Markit’s Purchasing Managers Index rose to 53.8 from a revised 53 in August and beating estimates for a drop to 52.5. Growth in output and new orders accelerated, while exports saw a modest recovery after a slump the previous month. “September ...

Bloomberg With a price tag of $75,000 a night, the Mark Hotel is now offering the most expensive hotel suite in America. Built in 1927, this iconic Upper East Side hotel underwent a major renovation from 2006 to 2009. While the historic exterior was untouched, the entire inner workings of the building were replaced, with interiors rethought by famed designer ...

DUBAI / WAM First Abu Dhabi Bank (FAB), has been named ‘Leading Corporate for Investor Relations in the Middle East’ at the 2018 Middle East IR Association (MEIRA) Annual Awards ceremony, which took place at the Bulgari Resort in Dubai. The bank also scooped two further awards; ‘Leading Corporate for Investor Relations in the UAE’ for the second consecutive year, ...

Dubai / WAM Total volumes on the Dubai Gold and Commodities Exchange (DGCX), this year hit 17,255,556 contracts at the end of September, with yearly average daily volumes (ADV), at their highest ever, reaching 89,873 contracts per day. The best performing asset class in September was the Indian Rupee (INR), product suite, which saw Rupee Mini Futures record its second ...