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Bloomberg Huochebang and Yunmanman, China’s two biggest apps for Uber-like truck services, have agreed to merge, creating a company valued at more than $2 billion, people familiar with the matter said. Wang Gang, a backer of Yunmanman’s and an angel investor in ride-hailing giant Didi Chuxing, will become the chief executive officer of the new entity, the people said, asking ...

Bloomberg Chinese industrial profits maintained their recent surge, underscoring resilience in the economy and strength in producer inflation. Industrial profits increased 25.1 percent in October from a year earlier, compared with a 27.7 percent pace a month earlier that was the highest in almost six years, the National Bureau of Statistics said on Monday. Profits in the first 10 months ...

Bloomberg Business Secretary Greg Clark said reviving Britain’s flagging productivity lies at the heart of the industrial strategy he was expected to unveil it on Monday to help chart the future of Britain’s economy as the country leaves the EU. While Britain would pursue the strategy “regardless” of Brexit, the plan will take the sting out of the uncertainty sparked ...

Bloomberg Women working in London are paid the least relative to their male counterparts in the whole of the UK. The gender pay gap in London is almost as big now as it was in 1997, meaning the UK capital has gone from having the narrowest divide to the widest in 20 years as other UK regions posted greater improvements, ...

Bloomberg Meredith Corp. agreed to acquire Time Inc. for $2.8 billion including debt, swallowing the once-mighty home of Fortune and Sports Illustrated after the internet age wreaked havoc on even the most prestigious magazine titles. The $18.50-a-share offer is an all-cash one, Meredith said in a statement. The deal gives Meredith, publisher of Better Homes & Gardens, a larger audience ...

Bloomberg Italian consumer confidence unexpectedly fell this month as shoppers start to plan their Christmas gift expenditures. The household sentiment dropped to 114.3 from a revised 116.0 in October, statistics agency Istat said Monday in Rome. The median estimate in a Bloomberg survey of 12 analysts called for a November reading of 116.5. “It’s bad news ahead of Christmas,” said ...

Bloomberg Cable companies are settling on a new strategy to combat streaming services like Netflix and Hulu: If you can’t beat ’em, join ’em. Comcast Corp. and Charter Communications Inc., the two biggest US cable operators, are in talks to offer Hulu’s on-demand service through their set-top boxes, according to people with knowledge of the matter. Comcast, the largest cable ...

Dubai / WAM Expo 2020 Dubai has so far awarded AED10.8 billion construction and AED411 million non-construction contracts in 2017. Preparations are firmly on track, with the global destination exceeding its pledge of distributing AED360 million non-construction contracts this year. It will reach its target of AED11 billion construction contracts after awarding urban planning and event overlay packages due to ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, a number of world leaders, dignitaries and senior officials on Sunday attended the final ...

DUBAI / WAM The Board of Directors of the Sheikh Zayed Housing Programme approved the names of 737 Emiratis, who are eligible for housing support, with a total value of AED476 million, coinci-ding with the celebrations of the 46th National Day in the country. During a meeting at the Etihad Museum in Dubai, Dr Abdullah bin Mohammed Belhaif Al Nuaimi, ...