News

Bloomberg True Corp. slid the most in about two years after a tribunal said it must pay more than 94 billion baht ($3 billion) in a breach of contract case dating back to 2005, an order the firm said it will dispute. The China Mobile Ltd.-backed carrier said in a filing this case isn’t final and it intends to take ...

Bloomberg For evidence of just how big Toyota Motor Corp.’s bet is that hybrid cars will dominate new-energy vehicles until at least the end of the next decade, look no further than its battery supplier. Primearth EV Energy Co., despite the name, doesn’t make batteries for the pure electric vehicles that are emerging as a newer rival to gasoline-electric hybrids, ...

Bloomberg Britain’s trade unions will demand that a second referendum on Brexit be kept on the table as the campaign to give the public a final say on Prime Minister Theresa May’s divorce deal gathers pace. The call will be made in an agreed statement by the Trades Union Congress umbrella group on Sunday, according to three people familiar with ...

Bloomberg A potential megadeal between Chinese wireless carriers could give a boost to two companies half a world away: T-Mobile US Inc. and Sprint Corp. China United Network Communications Group Co. is said to be exploring a merger with China Telecommunications Corp., a transaction that would unite the country’s second- and third-largest carriers. The Chinese deal would be part of ...

Bloomberg US workers may be finally getting a pay raise — and perhaps more importantly, they’re earning it by becoming more efficient. Average hourly earnings for private workers increased 2.9 percent in August from a year earlier, the most since the recession ended in mid-2009, the Labor Department said. The gains were broad-based, ranging from manufacturing to retail. The fatter ...

Bloomberg Volkswagen AG Chief Financial Officer Frank Witter was asked this week whether the world’s largest carmaker would be open to selling shares in the luxury-car unit that includes Porsche and Lamborghini. He didn’t say no to the option, which could potentially unlock billions of dollars in value for Volkswagen investors. “It is a legitimate question, without a doubt,” Witter ...

Bloomberg Facebook Inc. is suing BlackBerry Ltd. for patent infringement, escalating the legal battle between the two companies over protected technology. In a 118-page complaint filed filed in San Francisco federal court, Facebook accused BlackBerry of stealing its voice messaging technology, among other patented processes. Facebook is seeking unspecified damages for infringement of six patents. BlackBerry didn’t immediately respond to ...

Abu Dhabi / WAM The number of business licenses issued in the UAE by the end of August, increased to 532,000, a growth of 9 percent over the end of 2017, in yet a fresh sign that the business is moving and gaining speed across various economic platforms despite the global slowdown in different world countries. According to the Ministry ...

ABU DHABI / WAM The trade exchange between the UAE and Ghana amounted to over $1.2 billion by the end of 2017,a according to a senior Ministry of Economy official. “Afro-UAE relations are significantly evolving and we are attaching growing importance to strengthening business ties with the Republic of Ghana,” said Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry ...

ST. PETERBURG / WAM Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF), the sovereign wealth fund of the Russian Federation have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk regions of Western Siberia. Further to an agreement announced on May 24 this year, Gazprom Neft has ...