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Bloomberg Investors hunting for clues to the iPhone X’s reception can take a deeper look at its main manufacturing partners. And the latest doesn’t look good. Apple Inc.’s five largest device assemblers reported a sharp slowdown after peaking at the end of last year, suggesting demand for the high-end device may have faded just a quarter after its release. While ...

Bloomberg Alphabet Inc. is pushing efforts to roll back the most comprehensive biometric privacy law in the US, even as the company and its peers face heightened scrutiny after the unauthorised sharing of data at Facebook Inc. While Mark Zuckerberg and Sheryl Sandberg were publicly apologising this month for failing to protect users’ information, Google’s lobbyists were drafting measures to ...

Bloomberg AT&T Inc. attacked the US government expert who disputes the company’s claim that its takeover of Time Warner Inc. would lead to $2.5 billion in annual cost savings, forcing him to admit on the witness stand that such a deal would probably result in efficiencies. Rob Walters, a lawyer for AT&T, tried to undermine the Justice Department’s expert, Ronald ...

Bloomberg SAP SE increased its sales outlook for the year to reflect a major acquisition and an accelerating cloud business, as Europe’s biggest software company benefited from increased global IT spending. New cloud bookings, a keenly watched metric because it indicates future sales growth, grew 25 percent at constant currencies in the first quarter, the Walldorf, Germany-based company said on ...

Bloomberg Britain was in surplus on its day-to-day budget for the first full fiscal year since the early 2000s, a milestone that is almost certain to revive calls for an end to austerity. Revenue exceeded spending by 112 million pounds ($156 million) in the 12 months through March, meaning Britain is now borrowing only to finance capital investment, figures from ...

Bloomberg After two weeks of convulsions caused by US sanctions against United .Co. Rusal, the metals market was braced for more mayhem: many traders were betting the Russian aluminum giant was just days away from having to shut plants from Sweden to Jamaica. Then, the US Treasury threw a potential lifeline by making clear it’s not pushing for the company’s ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM) and Shanghai Stock Exchange (SSE), China’s largest securities exchange, signed a MoU to cooperate on the establishment of a ‘Belt and Road’ exchange at ADGM. The cooperation harnesses Abu Dhabi’s strategic position along the Silk Road Economic Belt, ADGM’s best-in-class regulatory regime and SSE’s position as a growing global exchange. The ...

DUBAI/ Emirates Business The third Annual General Meeting (AGM) of Emaar Malls approved the distribution of cash dividends to shareholders amounting to AED 1.3 billion ($ 353.9 million), representing 10 percent of the share capital being 10 fils per share for 2017. The AGM also approved the report by the board of directors on the activities and financial position of ...

ABU DHABI / Agencies Mubadala Investment Company has acquired a minority stake in the general partner of Phoenician Capital, a New York-based investment management company. The investment was made through Mubadala Capital, Mubadala’s financial investment arm. The partnership includes an agreement for Mubadala Capital to invest in a fund managed by Phoenician Capital. “Phoenician Capital has built a strong international ...

DUBAI / Emirates Business Mashreq, one of the leading financial institutions in the UAE, has reported its financial results for the first quarter ending on March 31, 2018. The net profit of the company increased 9.5% year-on-year to AED 598 million primarily due to a 4% increase in operating income. The net interest income & net income from Islamic products ...