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Bloomberg Uber Technologies Inc. and its former Chief Executive Officer Travis Kalanick defeated a lawsuit claiming the company swept illicit business practices under the rug that cost investors billions of dollars. US District Judge Haywood S. Gilliam Jr. in Oakland, California, agreed with Uber’s and Kalanick’s bid to toss the class-action claims by a Texas city’s firefighter pension fund while ...

Bloomberg Salesforce.com Inc. shares fell after the maker of cloud-based software gave a disappointing profit forecast and reported a closely watched sales metric that failed to satisfy Wall Street’s lofty expectations. Profit, excluding certain items, will be as much as 50 cents a share in the current quarter, the San Francisco-based company said. That compared with analysts’ average estimate of ...

Bloomberg HNA Group Co.’s debt, one of the highest among Chinese companies, declined for the first time after the embattled conglomerate reversed a multi-year acquisition spree by selling off dozens of assets to stay in business. Total debt fell 9.5 percent to 541.6 billion yuan ($79 billion) at the end of June, down about $8.3 billion from the record high ...

Bloomberg Meituan Dianping, a Chinese food delivery giant, plans to raise as much as $4.5 billion in an initial public offering in Hong Kong, according to people with knowledge of the matter, The company plans to sell shares between HK$60 ($7.64) and HK$72 apiece, the people said, asking not to be identified because the information is private. The offering has ...

Bloomberg The largest and oldest prison in India’s financial hub Mumbai will get a new block of cells that will meet international norms on prisoner rights. The reason: fugitive businessmen are citing poor jail conditions to stave off extradition. The Mumbai Central Prison, popularly known as the Arthur Road Jail, is demolishing an old structure to make way for the ...

Bloomberg Indonesia and Australia announced the conclusion to talks on a free-trade deal as the Pacific neighbours attempt to boost economic ties. In his first overseas trip since becoming Australia’s prime minister, Scott Morrison met with President Joko Widodo in Bogor, outside the capital Jakarta, where they committed to finalising the Indonesia-Australia Comprehensive Economic Partnership Agreement. The two also signed ...

Bloomberg South Korea’s export growth accelerated in August at the fastest pace in three months, easing concerns that the trade fight between China and the US will sap momentum in Asia’s fourth-largest economy. Exports rose 8.7 percent from a year earlier, the trade ministry said in a statement on Saturday. That compared with a 10.2 percent gain forecast by economists ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Mohammed bin Rashid Space Centre and the General Supervisor of its projects and plans, said launch of KhalifaSat is an important step towards achieving UAE’s space strategy. Highlighting the efforts of the Mohammed bin Rashid Space Centre team, he said ...

VIENNA / WAM The Opec Fund for International Development (OFID) signed pu-blic sector loan agreements totalling $37.5 million with Gui- nea Bissau, Burundi and Uga-nda to support socio-economic development and living standards in the African continent. OFID’s $20 million loan to Burundi will help fund the ‘Rumonge-Nyanza Lac Road Rehabilitation Project’. Improvements to 52km stretch of road will promote development ...

ABU DHABI / WAM The UAE Banks Federation (UBF) has released its annual report for the year 2017, shedding light on major developments, and trends in the UAE banking sector as well as local and regional economies. The report highlights UBF’s key initiatives and events, which continue to contribute significantly to the banking sector in the UAE. The report underscores ...