News

Bloomberg The US economy is beginning the year with a downshift in growth despite $1.5 trillion in tax cuts signed by President Donald Trump in December. Unexpectedly weak February retail sales pushed down forecasts for the annualised pace of expansion in the first quarter, with the Federal Reserve Bank of Atlanta’s GDPNow tracking estimate at 1.8 percent on March 16, ...

Bloomberg Facebook Inc. suspended Cambridge Analytica, a data company that helped President Donald Trump win the 2016 presidential election and which may have collected data from 50 million Facebook profiles without their owners’ permission. The social-networking company said in a blog post that Cambridge Analytica received some user data through an app developer on its social network, violating its policies. ...

Bloomberg It’s little surprise that the best-paid MBA graduates are from American universities. What is unexpected is just how much US schools dominate the rankings. A new survey of the 20 best-paid graduate business schools found that the top 11 are all in the US. The Sloan School of Management at the Massachusetts Institute of Technology came out on top, ...

Bloomberg President Donald Trump’s administration outlined rules for how automakers, pipeline operators and other companies can seek exemptions from new steel and aluminum tariffs that could be worth billions of dollars. The Commerce Department opened the door for those requests with an interim final rule that invites applications from companies or individuals supplying steel to US entities that use the ...

Bloomberg Luxembourg could soon be a home for bankers escaping Brexit. As the Grand Duchy prepares to welcome financiers relocating from the UK, a lack of housing has pushed the price of relatively modest family homes beyond the 1 million-euro mark ($1.2 million). That’s led to edgier areas being developed to keep up with demand, according to real estate brokers ...

ABU DHABI / WAM Mohammed bin Kardous Al Ameri, Chairman of the Defence, Interior and Foreign Affairs Committee at the Federal National Council (FNC) met Marko Mihkelson, Chairman of the Foreign Affairs Committee of the Parliament of Estonia (Riigikogu), in Abu Dhabi. Al Ameri emphasised the importance of exchanging visits by the representatives of the parliamentary bodies of the two ...

DUBAI / WAM Dubai International Financial Centre (DIFC) announced on Saturday the completion of ‘The Exchange’ building. Located in DIFC’s Gate Village, The Exchange is a Ground + 8 storey building with a total leasable area of 147,000 sqft, of which 114,000 sq. ft. is office space and 33,000 sqft is retail space. The AED180 million building comprises 5 basement ...

ABU DHABI / WAM Adnoc Distribution has unveiled a partnership with global retail brand Géant, in a clear signal that the UAE’s largest fuel and convenience store retailer is becoming more customer-centric in an effort to boost its financial performance. Under the agreement with Urban Foods, which operates Géant in the UAE, ten existing Adnoc Distribution convenience stores will be ...

Bloomberg Large digital companies operating in the European Union, such as Alphabet Inc. or Twitter Inc., could face a 3% tax on their gross revenues based on where their users are located, according to a draft proposal by European Commission. The draft was circulated and outlines how a targeted levy on gross revenues would increase the tax bill digital giants ...

Bloomberg Global finance chiefs are set to warn that the broadest and stro-ngest economic expansion since the turn of the decade would be thrown into jeopardy if governments turn inward. In the draft of a statement that finance ministers and central bankers will discuss during talks in Buenos Aires beginning on Monday, the Group of 20 repeated a pledge to ...