News

Bloomberg Facebook Inc said private data about its European users may not have fallen into the hands of Cambridge Analytica after all, as the social network continues to fend off criticism about a scandal that sparked global outrage. “The best information we have suggests that no European user data was shared by Dr [Aleksandr] Kogan with Cambridge Analytica,” Stephen Satterfield, ...

Bloomberg France’s Eutelsat Communications SA said it won’t make a takeover offer for Inmarsat Plc, a sudden reversal that strengthens EchoStar Corp.’s hand in its pursuit of the British satellite operator. Eutelsat had said it might bid for Inmarsat, confirming a report by Bloomberg News. The change of heart means that, under UK takeover rules, the Paris-based company now can’t ...

Bloomberg Rupert Stadler, Audi’s suspended chief executive officer, is facing at least another week in a German prison over the carmaker’s diesel scandal, as an ex-manager who oversaw engine development was released on bail after nine months. Defense attorneys and investigators scheduled meetings to allow Stadler to answer questions for next week, and he will remain in custody for now, ...

Bloomberg Prime Minister Theresa May’s chaos-stricken UK government risks slowly suffocating investments for car manufacturers desperate for clarity post-Brexit from a party that calls itself pro-business. That’s the stark assessment of Mike Hawes, chief executive officer of the Society of Motor Manufacturers and Traders, who took a jab at May’s widely-debunked promise that there will be extra money to spend ...

Bloomberg Volkswagen AG’s fledgling Moia mobility unit is betting on the rise of self-driving cars to deliver on its plan to catch up with ride-hailing leaders like Uber Technologies Inc without burning through piles of cash. Moia is focussed on connecting the fast-changing mobility marketplace with the German automaker’s vast manufacturing capacity, including its efforts to develop autonomous cars, according ...

DUBAI / WAM As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial year 2017. As much as AED15.8 billion been disseminated to 466,482 investors. The number of listed companies that have outsourced the dividend distribution process to DFM increased from 35 companies during the previous year ...

DUBAI / WAM The Dubai World Trade Centre (DWTC) has announced up to 70 percent reduction on licencing and incorporation fees within the DWTC Authority (DWTCA), a Free Zone (FZ) offering offshore licences for businesses, and ‘One Central’, to spur business and benefit multi-sector growth. The DWTC’s programme will provide highly competitive offerings with the twin objectives of supporting inward ...

Bloomberg Abraaj Group has reached an agreement to sell its stake in Middlesex University’s Dubai campus to Amanat Holdings PJSC for about $100 million, people with knowledge of the matter said. An initial agreement has been signed and the deal is yet to close, the people said, asking not to be identified because the information is private. Dubai-based Amanat would ...

Bloomberg China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the US, saying unilateral actions risked pushing the world into a recession. Vice Premier Liu He — President Xi Jinping’s top economic adviser — said China and the EU had agreed to defend the multilateral trading system, following talks on Monday in Beijing. The ...

New Delhi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Narendra Modi, India’s Prime Minister, have expressed support for the on-going strategic dialogue, aimed at expanding energy partnerships between the two countries. This came during a meeting here on Monday between the two sides following a joint workshop organised by ...