News

Bloomberg Right as UK Prime Minister Theresa May filed for divorce from the European Union, her Brexit department hired elite management consultancy, McKinsey & Co., to the tune of 1.9 million pounds ($2.5 million) to help get the job done. While the contract was only formally announced in an email, an accompanying excel sheet shows that the consultancy giant was ...

Bloomberg Wells Fargo & Co. is edging closer to a settlement with regulators over the crisis-era mortgage bonds investigation that took a $1 billion chunk out of third-quarter profit, according to Chief Financial Officer John Shrewsberry. “We are now having a negotiation, so it’s a matter of probably months or quarters, not anything more than that,” Shrewsberry said in a ...

Bloomberg The remnants of Ophelia, the most eastern major Atlantic storm on record, are set to batter Ireland with “extreme” conditions on Monday, leading the government to warn of potential flooding in the south and urging schools to stay closed. Ophelia weakened to a category 1 hurricane and is expected to turn into a strong post-tropical cyclone by Sunday night, ...

Bloomberg The social network has announced a new feature that will let users buy meals on its website through third-party delivery services like DoorDash or directly from a group of restaurants such as Chipotle Mexican Grill Inc. and Five Guys. Facebook has been working on the new product for a year, and carried out tests with restaurants including Papa John’s. ...

Bloomberg Tesla Inc. has fired an undetermined number of employees following a series of performance evaluations after the company significantly boosted its workforce with the purchase of solar panel maker SolarCity Corp. The departures are part of an annual review, the Palo Alto, California-based company said in an email, without providing a number of people affected. The maker of the ...

Dubai / WAM DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation (PCFC) Sultan bin Sulayem revealed the value of Dubai’s information technology trade figures in the first half of 2017 which is AED 134.5 billion, including AED 86.8 billion of imports, and AED 47.7 billion of exports and re-exports. He pointed out that ...

ABU DHABI / WAM The Emirates News Agency (WAM), signed a Memorandum of Understanding (MoU), with ENEX, an association of the world’s leading commercial TV broadcasters, to strengthen joint co-operation in news exchange and transmission of media content through the latter’s international circulation platforms and outlets in Europe, America, Africa and Asia. Inked on the sidelines of the ENEX General ...

ABU DHABI / WAM The Abu Dhabi Department of Urban Planning and Municipalities (DPM), is leading a project to develop a Capital Investment Planning System (CIPS), that will automate processes and bring together all government capital projects across the emirate. CIPS will aim to house all major five-year capital plans such as utilities, roads and community facilities under one overarching ...

RAS AL KHAIMAH / WAM The Ras Al Khaimah Chamber of Commerce and Industry and a high-level delegation from the Duchy of Luxembourg met to discuss joint economic activities and investment opportunities. The delegation from Luxembourg was headed by Prince Guillaume, Heir Apparent of Luxembourg. The talks included economic issues of mutual interest in addition to bringing together local companies ...

SHARJAH / WAM The 5th GCC Human Resources and Labour Market Executive Conference will begin on Sunday, under the patronage and in the presence of HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. Themed ‘Gulf Human Capital, a Promising Wealth’, the conference is being organised by the Sharjah Chamber of Commerce and ...