News

Bloomberg Every year, Freeport-McMoRan Inc. dumps tens of millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come. The discharge of what are called tailings, the leftovers of mineral extraction, is perfectly legal under Freeport’s current ...

Bloomberg Apple Inc. executives rarely call out Facebook Inc., but they made more moves to limit the social network’s data collection. In iPhone, iPad, and Mac software updates later this year, Apple’s default Safari web browser will show a pop-up window asking users for permission before loading share buttons from social networks including Facebook. These buttons make it easy to ...

Bloomberg A company whose ticker is “TEAM” was just out-shined with crafty teamwork by a competitor. Atlassian Corp turned positive late in trading after a drop of as much as 2.3 percent after Microsoft Corp. agreed to purchase GitHub for $7.5 billion in stock. Bloomberg Intelligence analyst Mandeep Singh notes that “Atlassian will now have to compete against Microsoft, which ...

Bloomberg UK businesses told Prime Minister Theresa May to get on with taking key Brexit decisions as companies start putting their contingency plans in place, according to a person at a meeting at her London office. May gathered leaders of companies ranging from aerospace to retail along with Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis for ...

Bloomberg The UK services sector grew more than forecast in May as the economy continued to plot a modest recovery from the snow disruption of the first quarter. IHS Markit said on Tuesday its Purchasing Managers Index rose for a second month to 54 from 52.8. That beat the reading of 53 predicted in a Bloomberg survey. Taken together with ...

Bloomberg Qualcomm Inc, the biggest maker of semiconductors for smartphones, unveiled a new chip, said Samsung Electronics Co. is already on board as a customer, and offered free wireless data for devices based on the processor — all part of a push to get its mobile technology into the computing market dominated by Intel Corp. Samsung is committed to offering ...

Bloomberg Even as Donald Trump tweets his support for US agriculture, farmer loyalty for the president looks like it’s starting to waver over moves that may undermine corn-based etha-nol and escalate trade disputes with countries that import American crops. A long-anticipated White House announcement expected to lower costs for oil refiners at the expense of ethanol may show that the ...

DUBAI / WAM The Ministry of Climate Change and Environment (MoCCAE) is introducing a new project to survey and map agricultural areas using unmanned aerial vehicles or drones. MoCCAE invited several professional drone companies in the UAE to carry out the pilot phase of the project. Commencing in the second week of June, this phase will include surveying and mapping ...

SHARJAH / WAM Saud Salem Al Mazrouei, Director of the Hamriya Free Zone Authority and the Sharjah International Airport Free Zone Authority, signed an investment agreement with Ramesh Parekh, Chairman of Gandhar Oil Refinery India, to establish an integrated project to produce white oil, liquid paraffin, hydraulic liquid, transformer oil, rubber processing oil, motor oil and industrial oil. The agreement ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) announced the launch of a 100 percent capital protected cloud technology equities basket note, designed to capture the growth in the cloud computing industry. The investment note matures in 12 months and provides 100 percent capital protection at maturity to minimise investment risk. The note opens for subscription until June 23, ...