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Abu Dhabi / Emirates Business Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, will work with the Massachusetts Institute of Technology on six new practical research projects at EGA later this year. MIT is the leading research university in the United States. The new projects extend EGA’s partnership with MIT’s David H. ...

­­­­­­­­­­­Bloomberg UK Brexit Secretary David Davis dismissed as “nonsense” published reports that Prime Minister Theresa May is set to approve paying as much as $64.8 billion to leave the European Union. May is ready to agree to the total in a bid to kickstart trade talks, but won’t disclose details until after the Conservative Party conference in October, The Sunday ...

Bloomberg America’s manufacturers are showing signs of fabricating some genuine momentum. Toss in improvement among US builders and miners and the US is undergoing the blue-collar revival that President Donald Trump has been pushing. Gary Cohn, the top economic adviser at the White House, told CNBC that the country is seeing jobs being created in the sectors that need them. ...

Bloomberg Deutsche Bank AG is bowing to the inevitable and replacing the BlackBerry devices that were issued to its staff with iPhones. A Deutsche Bank spokesman confirmed that the lender is phasing out the devices, without commenting further. The company’s employees were increasingly giving up their BlackBerry phones in favour of ones they’d bought themselves under a Bring-Your-Own-Device (BYOD) policy, ...

Bloomberg Alphabet Inc. is forming a new holding company designed to finalise its evolution from Google, the web search giant, into a corporate parent with distinct arms that protects individual businesses in far-flung fields like health care and self-driving cars. The new entity, called XXVI Holdings Inc., will own the equity of each Alphabet company, including Google. The new structure ...

Bloomberg Roku Inc., the maker of devices and software for streaming video that was an early challenger to traditional home-entertainment providers, filed for a US initial public offering. The company listed an initial offering size of $100 million, which it said is a placeholder used to calculate fees and will probably change. IT plans to use the proceeds for general ...

Bloomberg Fiat Chrysler Automobiles NV will push ahead with separating the parts business, while the carmaker doesn’t have any big deal on the table and hasn’t received any approach for a combination. “There are some activities at the component businesses which don’t belong to the car business and the group must be purified from those assets,” Chief Executive Officer Sergio ...

Bloomberg Vestas Wind Systems A/S expects demand for wind power to rebound in Brazil, after a slowdown in Latin America’s top market prompted the turbine supplier to focus more attention elsewhere in the region. “I see Brazil coming back in the next year,” said Marco Graziano, president at Vestas Mediterranean. “You’ve got to be patient.” The world’s biggest turbine supplier ...

Reuters Freight rates for very large crude carriers (VLCCs) on Asian routes continue to sink on a glut of available tonnage as owners wait for supply disruptions caused by Hurricane Harvey to help support the market, brokers said. Charter rates for VLCCs from the Middle East have fallen to around 36 on the Worldscale measure. “In terms of VLCCs we’ve ...

Bloomberg South Africa’s state-owned electricity utility will sign delayed power-purchase agreements with independent producers by the end of October, but not before pricing on the deals is renegotiated, Energy Minister Mmamoloko Kubayi said. Eskom Holdings SOC Ltd. is expected to conclude agreements for 26 projects, Kubayi said in Pretoria. The power company stalled for more than a year on the ...