News

Bloomberg Toshiba Corp. and Western Digital Corp. have agreed in principle to settle their legal dispute over the $18 billion sale of Toshiba’s flash-memory business with a nannouncement expected within the next 24 hours, according to people familiar with the matter. The US company will drop arbitration claims in the US that were aimed at stopping Toshiba from selling the ...

Bloomberg India’s adoption of its first nationwide identification system is helping empower the country’s women and driving increased use of banking services, according to the first study of the nationwide Aadhaar programme. Virtually all homes in the western state of Rajasthan have at least one bank account, and most have several, since the introduction of the Aadhaar programme, the Center ...

Bloomberg International Trade Secretary Liam Fox said the UK would like a trading relationship with the European Union after it leaves the bloc that’s “virtually identical” to the one it has now. A trade deal similar to the current arrangements would ensure a smooth transition period, Fox said in in Buenos Aires while attending a World Trade Organization ministerial meeting. ...

Bloomberg Does the US run a trade deficit or surplus with Canada? It depends where you look. President Donald Trump asserted—again—the US runs “a pretty good trade deficit” with Canada. The claim was quickly rebuffed by Canada’s ambassador to the US, David MacNaughton, who cited American data saying the opposite was true. Canadian officials tend to use US data to ...

Bloomberg Walt Disney Co. may announce a deal as soon as this week to acquire a large piece of 21st Century Fox Inc., according to a person familiar with the matter, transferring legendary Hollywood properties to new owners. Comcast Corp., the other major contender for the Fox assets, said it’s no longer in the running. A trust belonging to Fox ...

Bloomberg UK inflation unexpectedly accelerated to the fastest in more than 5 1/2 years in November, which will force Bank of England Governor Mark Carney to explain why price growth is so far above his policy target. The 3.1 percent rate was stronger than economists had forecast and the highest since March 2012. The Office for National Statistics said that ...

Bloomberg Cyrus Massoumi spent the last few years building exactly what he thought would thrive on Facebook: A series of inflammatory conservative websites, finely tuned to produce the most viral and outrageous version of the news. The social network rewarded him with an audience. Facebook Inc. now wants something different. Reacting to concerns about how fake news spread on its ...

Dubai / Reuters The United Arab Emirates economy is expected to recover gradually next year without suffering a significant blow to growth from the introduction of a 5 percent value-added tax in January, a senior International Monetary Fund official said. Natalia Tamirisa, IMF mission chief to the Ara b world’s second biggest economy, said Dubai’s spending on preparations to host ...

ABU DHABI / Reuters Abu Dhabi state investor Mubadala has made 15 to 16 investments in technology firms as part of a partnership with SoftBank Group of Japan, deputy group chief executive Waleed al-Muhairi told a conference in Abu Dhabi on Monday. Mubadala has committed $15 billion to SoftBank’s $93 billion private equity fund, the SoftBank Vision Fund, which has ...

Dubai / Emirates Business The total cash deposits placed at the UAE Central Bank surged to AED223.26 billion in 11 months, a growth of 9 percent from AED204.8 billion by end of October. In the meantime, withdrawals from the Central Bank amounted to AED222.969 billion in 11 months, an increase of 11.3 percent from AED206.6 billion during the per- iod ...