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Bloomberg Nestle SA’s Poland Spring Water unit has duped American consumers into paying premium prices for ordinary groundwater that’s pumped from some of Maine’s most populated areas, rather than from natural springs as the company advertises, according to a lawsuit. While Poland Springs says its water bottles contain “100 percent natural spring water” from a source deep in Maine’s woods, ...

Bloomberg At a private estate on Pebble Beach Golf Course in Carmel, Calif., Mercedes-Benz unveiled its latest concept car: the Mercedes-Maybach Vision 6 Cabriolet last week. Like the Vision Mercedes-Maybach 6 concept that the company unveiled prior to the Pebble Beach Concours d’Elegance last year, the Maybach 6 Cabriolet is an electric car that’s nearly 20 feet long, has a ...

Bloomberg The Philippines is seeking investment from China and Japan for $135 billion worth of power projects that President Rodrigo Duterte’s government is ready to fast-track. The Southeast Asian nation has held discussions with China, Japan, Russia and other countries about helping it boost generation capacity by 43 gigawatts in the coming decades to stabilize its power supply as the ...

CAIRO / Reuters Egypt is hoping that long-awaited regulations approved to its new investment code will draw in fresh and needed cash from abroad as the country pushes ahead with reforms. Investment Minister Sahar Nasr told Reuters in an interview that the law could now be active within days. “Establishing (a company) will literally now take hours. It used to ...

DUBAI / Reuters Saudi Arabia’s central bank said it had not banned trading of the Qatari riyal since Riyadh cut diplomatic ties with Doha, and said visiting Qatari citizens could exchange their currency. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and transport ties with Qatar on June 5, accusing Doha of backing terrorism, which Qatar denies. ...

Bloomberg Blackstone Group LP’s reach for $10 billion in energy assets is the firm’s latest bet that the US shale boom is just hitting its stride. The world’s largest alternative-asset manager agreed to buy Harvest Fund Advisors for an undisclosed amount, adding the firm’s 18-member team led by Eric Conklin to an investment empire that spans private equity, real estate, ...

Bloomberg The resignation of Vishal Sikka as chief executive officer of India’s bellwether technology company masks the rot in India’s once feted export sector. While Sikka cited heightened acrimony with a cohort of founders at Infosys Ltd., the malaise is much deeper, and threatens to become a faultline for Asia’s No. 3 economy. Software services exports are experiencing their longest ...

Bloomberg JD.com Inc. posted a wider quarterly loss as China’s second-largest online mall boosted marketing spending to drive sales at its mid-year shopping promotion. The net loss was $74 million in the three months ended June, almost double the 252 million yuan loss of a year earlier. Second-quarter sales jumped 44 percent to 93.2 billion yuan, helped by a partnership ...

Bloomberg Asian emerging market currencies have been having their best year since before the 2013 taper tantrum, bolstered by pace-setting growth rates and attractive yields. But the Philippine peso has been left out of the party—ironically after it held up better than peers including Indonesia’s rupiah back in 2013. Unless things change, it’ll be a fifth straight year of declines ...

DUBAI / WAM The Zayed Giving Initiative (ZGI), has launched a programme to mark World Humanitarian Day, which was on August 19, to promote the culture of volunteer work and humanitarian giving among the youth of various nationalities. Dr Adel Al Shameri, CEO of ZGI, said the new initiative will feature a package of charitable projects that will be implemented ...