News

  Bloomberg Abbott Laboratories agreed to consummate its troubled acquisition of Alere Inc. in a deal that values the medical test maker’s equity at $5.3 billion, shaving $500 million from the original price and ending months of legal maneuvering that appeared headed for a Delaware court. Alere shareholders will get $51 a share in cash, according to a statement. While ...

  Bloomberg Growth in Americans’ wages has been leveling off lately, contrary to expectations that a steadily falling jobless rate will quickly lead to a sustained acceleration. Blame it on dismal productivity and lingering, albeit diminishing, slack even with unemployment at an almost 10-year low of 4.5 percent. The government’s most recent jobs report showed the underemployment rate — the ...

  Bloomberg Uber Technologies Inc. isn’t required to report its finances publicly, but the privately held company has decided to forgo that luxury for the first time. Uber said its revenue growth is outpacing losses, hoping to show the business is on a strong trajectory as it attempts to address a recent cascade of scandals. The ride-hailing giant more than ...

  Bloomberg Apple Inc. will soon take its self-driving car software platform to public streets for the first time, a major step that gets the world’s largest technology company into a crowded race to reshape transportation. The California Department of Motor Vehicles granted clearance for trials of the autonomous driving technology on public roads, according to a notice on the ...

  Bloomberg Credit Suisse Group AG leaders including Chief Executive Officer Tidjane Thiam offered to have their bonuses cut by 40 percent after a growing number of investor advisory groups opposed the packages ahead of this year’s annual meeting. Thiam and the executive board volunteered to shrink long-term incentive awards for 2017 and short-term incentive awards for 2016, according to ...

  Dubai / WAM The UAE has topped the list of GCC countries in advertising spending in the first quarter of 2017 with AED1.5 billion, accounting for 46 percent of the total advertising expenditure across the Gulf region, according to TBWA Worldwide, a top 10 ranked global advertising network. The UAE is followed in the second place by Saudi Arabia ...

  ABU DHABI / WAM The Arab Trade Financing Programme (ATFP) approved US$ 1.108 billion in credit facilities all over the last year, bringing to $13.3 billion the total credit provided by the programme for boosting inter-Arab trade since its establishment. This is announced by Abdullah bin Abdul Rahman Al-Hamoody, ATFP Chairman and CEO, during the 28th annual meeting of ...

  Riyadh / WAM The workings of the second group of the UAE-KSA Joint Determination Retreat, organised by the UAE-Saudi Co-ordination Council, were launched in Riyadh on Thursday, with the attendance and participation of ministers, high officials and general managers from both countries. The retreat came from the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and his ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) organised the ‘Edha’at’ (Arabic for ‘Flashes’) event, to share success stories and innovative initiatives as part of the Knowledge Management’s initiatives, and promote and encourage innovation and continued development among DEWA’s employees. 18 success stories were shared by a number of creative and innovative employees of Distribution Power Division during the ...

  Abu Dhabi / WAM The five-day long Culture Summit 2017 held at Manarat Al Saadiyat, the Cultural District of Abu Dhabi, under the theme, “The Creative Mind of the Connected World: Culture as a Change Agent in the Digital Age,” concluded on Thursday, with an emphasis on influential role of culture and arts in tackling socioeconomic and political challenges. The ...