News

  Bloomberg Few people are more eager for Donald Trump’s arrival in the White House than those who do business in Russia. Hacking scandals? They expect that to blow over. Conflict in Ukraine? An artificial problem invented by Barack Obama, they argue. Russian magnates and American investors alike are anticipating a Trump administration that removes punishing sanctions, frees up access ...

  Bloomberg California sent a warning shot in a potential showdown with the incoming Trump administration, with the state’s clean-air regulators digging in on mandates for an ever-greater number of electric and fuel-cell cars. The staff of California’s Air Resources Board called national efforts to promote electrification “very modest” after 2025 as it released a more than 660-page report on ...

  Bloomberg WeWork Cos., the world’s largest co-working startup, is preparing to enter Argentina and Brazil while scouting potential sites in nearby countries as part of an expansion in Latin America. The New York-based shared-office startup, which was most recently valued at $16 billion, plans to open two locations in Sao Paulo in June, as well as at least one ...

  Bloomberg Luxury residences in Greenwich, the Connecticut town that’s home to hedge funds and Wall Street executives, sold at a quicker pace in the fourth quarter as owners became more amenable to negotiating on price. Homes that sold in the top 10 percent of the Greenwich market — those priced $3.79 million or higher — spent an average of ...

  Bloomberg Saudi Basic Industries Corp., the world’s largest petrochemicals maker by market value, is in talks with banks to raise as much as $2 billion of loans, according to two people familiar with the matter. At this stage, Sabic, as the company is known, has no plans to raise debt, Chief Executive Officer Yousef al Benyan told reporters in ...

  Bloomberg As cash continues to flood out of China, expectations are growing that the authorities will erect higher barriers. With the nation’s capital outflows last year estimated at $728 billion by Standard Chartered Plc, and the yuan predicted to continue declining against the dollar in 2017, analysts have been casting forward to what the authorities may do next to ...

  Bloomberg Bidders for troubled air-bag maker Takata Corp. are leaning toward a court-mediated bankruptcy in Japan to shield them from liabilities, a move that the company had opposed on concern it would disrupt the supply of replacement parts, according to people familiar with the matter. Takata, which is seeking a sponsor after triggering the biggest safety recall in automotive ...

  Bloomberg Singapore’s three-year decline in home prices could see relief from an unexpected quarter in 2017: Hong Kong. So says Cushman & Wakefield Inc., which expects the slide in the city-state’s home prices to end this year as foreign investors turned off by Hong Kong’s move to increase the stamp duty for overseas buyers look to Singapore instead. Desmond ...

  ABU DHABI / WAM The Emirates Maritime Arbitration Centre (EMAC) hosted the first of its series of 2017 events in Abu Dhabi to further promote its services to local maritime stakeholders. The event featured a panel of key speakers from EMAC. With an audience of legal professionals and representatives from the maritime and oil and gas sectors, the panelists ...

  DUBAI / Emirates Business The UAE is leading an innovative strategic shift in using CCTV from citizen security to Smart City quality of life services. Across the UAE, public and private sector organizations have installed thousands of CCTV cameras. For example, the Abu Dhabi government’s recently-launched Falcon Eye system is monitoring transport infrastructure to better manage traffic flow. As ...