News

Bloomberg India moved to curb gold-trade irregularities by preventing some trading houses from importing the metal following a surge in shipments in recent months. The second-biggest consumer won’t issue or renew authorisation to firms nominated by the Reserve Bank of India that fall under the so-called four- and five-star categories, the trade ministry said in a notice on its website. ...

Bloomberg Air pollution levels in India’s capital soared off the charts once again as millions of Indians burst fire crackers to celebrate Diwali, the Hindu festival of lights, despite a Supreme Court ban on the sale of fireworks in the region. Already one of the world’s most notoriously polluted mega cities, the capital saw its air quality index (AQI) gradually ...

­­­­­­­­­­­Bloomberg The future of the ride-hailing industry depends on the capricious largesse of two internet billionaires on opposite sides of the globe. Alphabet Inc., led by Larry Page, just backed Lyft Inc., while SoftBank Group Corp. chief Masayoshi Son is set to take a big stake in larger rival Uber Technologies Inc. Alphabet unit CapitalG led a $1 billion investment ...

Bloomberg Johnson & Johnson got a $417 million jury verdict thrown out after a California judge agreed the company didn’t have a duty to warn a woman who has since died that its Baby Powder could cause ovarian cancer. The ruling erased the fourth-largest US jury award of the year. It follows a Missouri appeals court’s ruling earlier in the ...

Bloomberg BMW AG said it was raided by European Union antitrust watchdogs as the EU ramped up a probe into the German car industry following reports that carmakers colluded on technology for decades. News of the search marks the latest development in a probe sparked earlier this year. Daimler AG reported a possible cartel as part of the EU’s leniency ...

Bloomberg Technology companies including Facebook Inc. and Amazon.com Inc. spent more than $10 million on federal lobbying in the third quarter, as Washington ratcheted up pressure on issues ranging from child trafficking to Russia’s alleged meddling in the 2016 election. Amazon spent $3.41 million—its biggest quarter in at least nine years—on tax policy, cloud security and computing, and others, according ...

Bloomberg Economists are coming full circle on their view of the US economy’s performance last quarter. After cutting growth estimates in early September in anticipation of extensive damage from hurricanes Harvey and Irma, they’ve turned more optimistic as recent data have been fairly decent. Michael Gapen, chief US economist at Barclays Plc, raised his forecast to 2.5 percent, returning it ...

ABU DHABI / WAM Louvre Abu Dhabi on Wednesday signed the first exclusive platinum partnership with Etihad Airways, at the museum’s dome. As a Platinum partner, Etihad will work closely with Louvre Abu Dhabi on areas of brand partnership, marketing, social media, public and media relations, events and exhibitions, cultural exchanges, cargo support, inflight programming, and travel trade support. Etihad Airways’ ...

ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced on Wednesday its expansion into the UK market with the opening of a representative office in London, under the name ADNIC International Limited. The office will facilitate reinsurance across industrial sectors including Energy (Upstream and Downstream), ...

DUBAI / Reuters Abu Dhabi’s state fund Mubadala Investment Company said it has launched a venture capital arm that will oversee an early growth fund set up with Japan’s SoftBank, and a fund of funds focusing on emerging fund managers. A ventures investment team will be based in San Francisco, the first Mubadala office in the United States, it said ...