News

Bloomberg CVS Health Corp. and Aetna Inc. were both talking to other potential partners during early discussions that led to their $68 billion merger, according to a regulatory filing. As late as August, Aetna was in discussions with a “Party X” about a “strategic partnership, business combination or other opportunities.” The mystery company, which isn’t named in the document, told ...

Bloomberg US payroll gains slowed by more than forecast in December, wages picked up slightly and the jobless rate held at the lowest level since 2000, adding to signs of a full-employment economy. Employers added 148,000 workers, compared with the 190,000 median estimate of economists surveyed by Bloomberg, held back by a drop in retail positions, a Labor Department report ...

Bloomberg Investors are finally getting a crack at the resurgent music business. Spotify, owner of the world’s largest paid music service, plans to begin trading on the New York Stock Exchange this quarter, passing up a traditional public offering for what’s called a direct listing. The debut will test whether investors are ready to buy into the music industry, which ...

DUBAI / WAM The Hatta solar project has enabled building owners to install solar panels on their rooftops to generate electricity from solar power as part of the Shams Dubai initiative. Implemented by Etihad ESCO, it is the largest residential rooftop solar PV project in the region. The Hatta solar project consists of 640 solar powered villas, supporting the Hatta ...

Bloomberg Alphabet Inc.’s Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, regulatory filings in the Netherlands show — saving the company billions of dollars in taxes that year. Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich,” to shield the majority of its international profits from taxation. The setup involves ...

ABU DHABI / WAM The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) will publish and ‘go live’ with a number of enhancements to its “Prudential – Investment, Insurance Intermediation and Banking” (PRU) Rulebook. This follows a successful public consultation which was completed on December 7, 2017. The new enhancements cover the prudential supervision of banks, insurance ...

DUBAI / Emirates Business Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, finished the year with 37.6 percent Emiratisation, exceeding its 2017 target and reaching the highest level of Emiratisation at the company since its formation in 2014 through the merger of DUBAL and EMAL. EGA is targeting 40 per cent Emiratisation ...

Abu Dhabi / WAM A permanent tribute to the nation’s founding father, Sheikh Zayed bin Sultan Al Nahyan, has been named, ‘The Founder’s Memorial’ by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Set to be inaugurated in early 2018 to coincide with the Year of Zayed and ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), praised the generous support of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for its development programmes and projects. The ERC affirmed that Sheikh Mohamed’s initiatives have promoted its capacities as one of the most efficient, influential regional ...

Sharjah / WAM His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, has said that His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, follows the same approach as the founder of the country, the late Sheikh Zayed bin ...