News

  AFP Didi Chuxing, the dominant ride-hailing service in China, said it will acquire Uber Technologies Inc.’s operations in the country, ending a battle that cost the two companies billions as they competed for customers and drivers. Didi will buy Uber’s brand, business and data in the country, the Chinese company said in a statement. Uber Technologies and Uber China’s ...

  AFP Leading Australian publisher Fairfax Media said it would post nearly Aus$1 billion in writedowns in the year to July, while it announced the creation of a new reporting segment for its lucrative online real estate division. Like its global peers, the group, which owns The Sydney Morning Herald and The Age newspapers, has had add to slash jobs ...

  Bloomberg Tokyo Gas Co., Japan’s second-biggest buyer of liquefied natural gas, is in talks with European companies to swap cargoes it owns from the U.S. with those in Asia to reduce shipping times and costs. The utility is offering cargoes from the Cove Point project on the U.S. East Coast, which is expected to start up late next year ...

  Bloomberg Corporate earnings are heading for a fifth straight quarter of declines, dragged down mostly by energy companies’ struggles with low oil prices and a tepid global economy that threatens to throttle sales growth in many industries. U.S. companies as varied as hamburger chain McDonald’s Corp. and Honeywell International Inc., a maker of gas-processing equipment and cockpit controls, have ...

  Bloomberg SolarCity Corp. board members approved a $2.6 billion buyout from Elon Musk’s Tesla Motors Inc. in the solar industry’s biggest deal to date. Tesla agreed to pay $25.37 a share in stock for the largest U.S. rooftop solar company, according to a statement. Analysts have said the price is too low and investors have questioned the wisdom of ...

  Bloomberg Nissan Motor Co. is growing faster in the U.S. than any mass-market carmaker and edged past rival Honda Motor Co. in this year’s first half. That might not be a good thing for Nissan’s bottom line. Chief Executive Officer Carlos Ghosn wants Nissan to pass Honda and get 10 percent of the North American market. Yet Nissan’s growth ...

  Bloomberg Verizon Communications Inc. agreed to buy GPS vehicle-tracking company Fleetmatics Group Plc in an all-cash deal valued at $2.4 billion, vaulting the telephone giant deeper into the automotive-technology market. Verizon will pay $60 a share for the Dublin, Ireland-based company, a 40 percent premium to Fleetmatics’ closing price last week, according to a statement. With its wireless business ...

  ABU DHABI / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State of the UAE and Chairman of Abu Dhabi’s Masdar, has stressed that Abu Dhabi’s support of the first solar-powered flight around the globe by Solar Impulse 2 (Si2), a cooperative venture between the UAE and Switzerland, sends a positive message about the success of partnership ...

  DUBAI / WAM Master developer Dubai South awarded a contract worth AED300 million for infrastructure works at its flagship Residential District. Central to the contract, which was awarded to Tristar Engineering & Construction LLC, is the delivery of the completed infrastructure works of Phase 1 and 2 of the Residential District in Dubai South by Q4 2017. The contract ...

  Bloomberg Aramex PJSC advanced for an 11th day as stock markets across the Gulf languished amid lower-than-normal trading volumes. The Dubai-based logistics company extended its longest rising streak since it began trading more than a decade ago, climbing 2.8 percent as of 11:43 am. local time to the highest level since 2006. Every major equity index across the six-nation ...