News

Bloomberg Former Uber Technologies Inc. Chief Executive Officer Travis Kalanick named two new directors without consulting the company’s new leader or other existing board members, ratcheting up a Machiavellian battle for control of the world’s most valuable startup. Kalanick said in an announcement that he had appointed Ursula Burns, Xerox Corp.’s former CEO, and John Thain, the ex-Merrill Lynch chief, ...

Bloomberg Alphabet Inc.’s Google has begun an internal probe on whether Russia-linked actors used its advertising and services to influence last year’s US presidential election, according to a person familiar with the matter. Facebook Inc. and Twitter Inc. have both disclosed political ad spending and accounts affiliated with Russia, and Facebook is sharing its findings with Google, this person said. ...

Bloomberg Adidas AG’s mission to expand its basketball footprint in North America hasn’t made a major difference so far. That may now be a comfort to the German athletic-goods company as one of its executives is embroiled in a US college-basketball bribery investigation. Adidas expects to generate just $401 million from basketball products worldwide this year, the company said in ...

Bloomberg Volkswagen AG halted the possible sale of its Ducati motorcycle unit amid persistent opposition from its powerful labor groups, according to an Italian union leader. “Ducati’s CEO told workers that the VW supervisory board decided to halt the sale process,” Bruno Papignani, regional head of FIOM CIGL union, said. “IG Metall sustained and helped Ducati workers in their request ...

LONDON / Reuters Saudi Arabia plans to further open up its stock market to foreign investors later this year as it seeks to become an international capital markets hub, Mohammed Abdullah Elkuwaiz, chairman of the Capital Market Authority (CMA) said. Qualified foreign institutions (QFIs) were allowed to begin investing directly in Saudi stocks in 2015 and qualification requirements were eased ...

Emirates Business Souqplace.com, the first Emirati online marketplace in the UAE, connecting quality SMEs and artisan products, in addition to branded ones to consumers, announces the expansion of its platform to Saudi Arabia. Capitalizing on the upward growth of e-commerce in the UAE and the support it has received over the period of two years, the Emirati e-commerce startup is ...

Bloomberg The Trump administration has thrown a lifeline to the last hope for a US nuclear power revival, offering $3.7 billion in additional loan guarantees for Southern Co.’s troubled reactor project in Georgia. The conditional guarantees announced by the Energy Department come at a critical time for Southern. Georgia regulators are weighing whether to allow the company and its partners ...

Reuters Kuwait’s parliament is likely to approve a law to extend the country’s borrowing limits, enabling 30-year debt issues, a senior finance ministry official said. The law would allow Kuwait to increase its debt ceiling to 25 billion Kuwaiti dinar ($83 billion) from 10 billion currently. It would also allow the Gulf state to issue debt instruments with maturities of ...

SINGAPORE / Reuters Middle East oil producers are venturing into trading crude as three years of weak oil prices has encouraged them to find new sources of income beyond the business of exporting their output. Saudi Arabia, the world’s biggest oil exporter, is among those making the shift. A subsidiary of state-owned Saudi Aramco plans to start trading non-Saudi crude, ...

Bloomberg Tata Motors Ltd. won an India government order for 10,000 electric cars as the country makes efforts to reduce emissions and curb fuel imports. The maker of high-end Jaguar and Land Rover models and the Nano small car will initially supply 500 vehicles to government-backed Energy Efficiency Services Ltd. in November, with the remaining 9,500 autos to be delivered ...