News

Bloomberg Huawei Technologies Co. pulled ahead of Apple Inc. to claim the No. 2 position in global smartphone shipments in the second quarter just behind Samsung Electronics Co., solidifying the rise of Chinese competitors. Huawei shipped 54.2 million phones in the quarter, 41 percent more than a year earlier, to jump ahead of the iPhone maker for the first time, ...

Bloomberg Apple Inc. shares jumped 3.5 percent in pre-market trading after the company projected sales that suggest consumers are still snapping up the company’s high-end iPhones even as updated models are on the horizon. The Cupertino, California-based technology giant said it expects fiscal fourth-quarter revenue between $60 billion and $62 billion. Analysts were looking for $59.4 billion, according to Bloomberg ...

Bloomberg Volkswagen AG warned that it will take a huge effort to meet its profit goals this year, as the world’s largest automaker battles trade tensions and stricter emissions rules. Tougher pollution-testing procedures, aimed at preventing a repeat of Volkswagen’s diesel-cheating scandal, will take effect next month and lead to delivery delays. The German manufacturer is also bracing for higher ...

Bloomberg UK manufacturing growth slowed more than expected last month, casting doubt on the strength of the economy as Bank of England policy makers hold their crunch meeting. IHS Markit’s Purchasing Managers Index for the industry fell to a three-month low of 54 in July, from 54.3 in June, the firm said in a report. The reading was below economists’ ...

Bloomberg The White House isn’t actively considering the Treasury Department’s push to issue a rule that would slash tax bills for investors who have investment income, according to a person familiar with the discussions. Treasury Secretary Steven Mnuchin told the New York Times earlier this month that his agency was looking at whether it could sidestep Congress to allow capital ...

Bloomberg Avison Young Canada has bought London-based real estate services firm Wilkinson Williams LLP, its first deal since receiving a $190 million investment by a big Canadian pension fund earlier this month. Wilkinson Williams represents landlords and tenants across the UK and has acted as an adviser on retail and supermarket leases. Last year, the firm advised clients on investment ...

Bloomberg Uber Technologies Inc. is partnering with security and insurance company Chubb Ltd. to cover its South African drivers in case of death or injury as violent attacks plague the country’s cities. The new deal will pay out a lump sum to the family in case of death, or to the driver if he or she is permanently disabled, the ...

Bloomberg Manufacturers in some of the world’s biggest economies are putting the brakes on production as they watch trade disputes with the US unfold. Reports showed factory activity from the Asia Pacific region to Europe slowed last month. With companies issuing warnings about the impact of tit-for-tat battles over import tariffs on their profits, the data suggest that protectionist threats ...

BERBERA/ WAM The Khalifa bin Zayed Al Nahyan Foundation has concluded its third relief operation in Somalia’s Berbera region, distributing food aid packages to 10,000 families affected by the drought. According to a spokesperson from the organisation, the campaign was implemented in accordance with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with the support of ...

ABU DHABI / WAM The UAE Cabinet approved restructuring of board of the UAE Space Agency under the chairmanship of Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills. The Board of Directors includes Hamad Obaid Al Mansouri, Chairman of the Mohammed bin Rashid Space Centre as Vice President; Khalid Abdullah Al ...