News

  Bloomberg Nintendo Co.’s shares jumped as much as 2.9 percent in Tokyo, reversing losses, as investors bet that the company’s lower-than-anticipated operating profit forecast will be raised when more people buy games for the new Switch hybrid console. Operating profit for the fiscal year through March 2018 will be $584 million, the Kyoto-based company said, which was short of ...

  Bloomberg President Donald Trump won a court ruling making it easier for him to rescind the Clean Power Plan, his predecessor’s program for weaning American power producers off of coal and other fossil fuels. The US Court of Appeals in Washington put a 26-state lawsuit challenging the plan on hold for 60 days without deciding whether the initiative is ...

  Bloomberg The Spanish economy showed signs of renewed momentum in the first quarter with growth accelerating faster than expected. Output grew 0.8 percent in the three months through March, the National Statistics Office said in a preliminary report. That compares with 0.7 percent in the fourth quarter and beats the median estimate in a Bloomberg survey of economists predicting ...

  Bloomberg IBM’s compensation plan for top executives drew record shareholder opposition after the board boosted Chief Executive Officer Ginni Rometty’s pay package over 60 percent last year. About 46 percent of the votes cast at the April 25 annual meeting in Tampa, Florida, went against the board’s pay plan for top bosses, according to a regulatory filing. That’s IBM’s ...

  Bloomberg Anthem Inc. failed to overturn a court ruling that blocked its planned takeover of rival Cigna Corp., capping a nearly two-year battle to complete a combination of two of the biggest health insurers in the US. The federal appeals panel in Washington upheld a lower court ruling by a 2-1 vote. The court rejected Anthem’s key argument, that ...

  Bloomberg Novo Nordisk A/S has agreed to settle a US probe of its marketing of diabetes drugs that allegedly included disguising salespeople as medical educators and paying kickbacks to persuade doctors to prescribe its medicines. The allegations were disclosed when a whistle-blower lawsuit was unsealed by a judge. The US Justice Department investigation, which began in 2011, focused on ...

  Bloomberg Almost a decade after the global financial crisis, the fate of another $2 billion from the wreckage of Lehman Brothers Holdings Inc. is about to be determined. The failed New York investment bank is seeking to recoup the cash from one of its old derivatives trading partners, Citigroup Inc. In a trial that started this week in Manhattan ...

  ABU DHABI / WAM With the inauguration of the high-tech jack-up rig Al Lulu, National Drilling Company (NDC), an Abu Dhabi National Oil Company (ADNOC) Group company, has celebrated the completion of its AED6 billion acquisition of nine state-of-the-art offshore rigs. The celebration, which took place in the Hamriyah Free Zone in Sharjah on Thursday, in the presence of ...

  PARIS / Reuters OPEC wants oil inventories to decline further and is working to ensure a policy-setting meeting in May reaches consensus, the group’s secretary-general said on Thursday in comments pointing to an extension of a global supply cut. The Organization of the Petroleum Exporting Countries, Russia and other producers originally agreed to curb production by 1.8 million barrels ...

  DUBAI / WAM DP World has handled 16.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2017, with gross container volumes growing by 5.7% year-on-year on a reported basis, and 5.0% on a like-for-like basis, well ahead of the industry estimate of 2.6% throughput growth for Q1 2017. The first ...