Bloomberg Australia’s job market is going casual. The nation saw its biggest monthly drop in full-time jobs in five years in September, a report showed Thursday, sending down the local dollar. The 162,800 part-time positions added in the year so far is the biggest gain on record, according to data going back to 1978. The 112,100 full-time jobs cut ...
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Intel wins in battle over $1.17bn EU fine
Bloomberg Intel Corp.’s fight to overturn a record 1.06 billion-euro ($1.17 billion) European Union antitrust fine received a boost from an adviser to the bloc’s top court in a case that could have ramifications for a growing list of disputes involving U.S. tech giants from Google to Apple Inc. Intel’s appeal should be totally re-examined by a lower court, ...
Read More »EU’s Tusk warns Canada trade deal ‘could be our last’
Brussels / AFP European Union president Donald Tusk warned the bloc would be incapable of negotiating new trade deals if Belgium failed to approve the accord with Canada by Friday. The deal, known as CETA, “could be our last free trade agreement, if we are not able to convince people that we negotiate to protect their interests,†Tusk said ...
Read More »Verizon adds fewest subscribers in 6 years
Bloomberg Verizon Communications Inc. suffered its worst quarter of subscriber growth in more than six years amid intensified price competition from smaller rivals, adding pressure on the company’s media and advertising ventures to take up the slack for a rapidly maturing wireless business. The nation’s largest wireless carrier signed up 442,000 total subscribers in the third quarter, falling far ...
Read More »EU sugar producers eye exports when quotas end next year
Paris / AFP European sugar producers will target export markets in addition to looking for new domestic customers when the EU lifts quotas next year and fully embraces free-market farm policies, officials and analysts say. However, some analysts believe exports will face tough competition in attractive Middle East and North African markets while some producers, especially in Italy, fear ...
Read More »Monsanto talked to 3 firms before Bayer deal
Bloomberg Monsanto Co. talked to three other companies about potential transactions in the months leading up to its agreement to be acquired by Bayer AG for $65.7 billion, the largest ever agricultural takeover. Details of the talks were revealed in the seed company’s proxy statement filed Wednesday. While talks with Germany’s BASF SE about a possible combination of their ...
Read More »Nakheel posts AED3.91bn profit
DUBAI / WAM Nakheel on Wednesday announced a net profit of AED3.91 billion for the first nine months of 2016, an increase of 8.3 percent on the profit of AED3.61 billion in the same period last year. The company recorded a net profit of AED955 million for third quarter of 2016, 22 percent up on Q3 2015 profit of ...
Read More »Saudi to raise $17.5bn in record bond sale
Bloomberg Saudi Arabia plans to raise $17.5 billion in the biggest ever bond sale from an emerging-market nation, according to four people with knowledge of the offering, as it seeks to shore up finances. The government aims to sell dollar-denominated bonds due in five years yielding 135 basis points more than similar-maturity US Treasuries, 10-year notes at a spread ...
Read More »Abu Dhabi, Shanghai to bolster economic ties
SHANGHAI / WAM Abu Dhabi and Shanghai will bolster economic co-operation in trade, investment and technology transfer, after the parties signed a Memorandum of Understanding (MoU). Khalifa bin Salem Al Mansouri, Acting Under-Secretary of ADDED, and Gen Shing Meng, Vice Secretary-General of Shanghai Government, witnessed the signing, and later discussed means of promoting economic and investment relations between Shanghai ...
Read More »DEWA, Intel Mideast sign coop pact
DUBAI / WAM Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding (MoU), with Intel Corporation Middle East, to enhance cooperation, develop new initiatives, and enhance the happiness of stakeholders though the adoption and development of the latest technologies and business models. These include the Internet of Things (IoT), cloud computing, data centres, big data, artificial intelligence, ...
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