News

  Bloomberg Mexico’s economy contracted in the second quarter for the first time in three years as growth in the services industry slowed and exports fell. Gross domestic product declined 0.3 percent from the first three months, according to preliminary figures released by the national statistics institute Friday. The median forecast of 13 economists surveyed by Bloomberg was for a ...

  Bloomberg Hillary Clinton called her race against Donald Trump the highest-stakes U.S. presidential race in her lifetime as she rallied with her running mate, Senator Tim Kaine, for the first time as the Democratic nominees for president and vice president. “There’s no doubt in my mind that every election in our democracy is important in its own way,” Clinton ...

  Detroit / AFP German automaker Daimler AG broke ground this week on a $500 million plant in Charleston, South Carolina to build vans, with the company hoping at last to avoid steep US import tariffs. When the factory comes online by the end of the decade, it may also help the company pay lower wages and circumvent labor unions. ...

  Bloomberg Bank of China Ltd. is heading down the old Silk Road marketing new goods: Debut bonds from Saudi Arabia to Kazakhstan. In its biggest-ever foray outside Asia, the state-controlled lender is said to have landed three mandates to co-manage emerging-market Eurobonds, including the Saudi government’s international sale. China’s fourth-largest lender is one of nine underwriters hired by the ...

  Bloomberg Tata Group, the coffee-to-cars conglomerate, said revenue slipped 4.6 percent for the year ended in March, hurt by global political uncertainty, a commodity price crash and volatility in currencies. Revenue at India’s biggest business house dropped to about $103 billion from $108 billion the previous year, according to a statement. The company draws 69 percent of its revenues ...

  Bloomberg China’s Fosun on Saturday signed an agreement to acquire Brazil-based investment management firm Rio Bravo, according to a statement, just a day after the Chinese conglomerate announced another massive overseas deal. Fosun, which has interests ranging from property to mining, said it will buy the controlling share of privately-owned Rio Bravo Investimentos, but did not give a value ...

  Bloomberg Takeda Pharmaceutical Co. said efforts to revamp its research operations will cost 75 billion yen ($725 million) as it seeks to build a new pipeline of drugs and considers closing some R&D operations in the U.K. The Japanese company’s R&D activities will be concentrated in Japan and in the U.S., it said in a statement Friday. The number ...

  Bloomberg ICICI Bank Ltd., India’s largest private sector lender by assets, posted a 25 percent drop in first-quarter profit as provisions for bad debt rose. Net income fell to 22.3 billion rupees ($333 million), or 3.83 rupees a share, in the three months ended June 30, from 29.8 billion rupees, or 5.09 rupees, a year earlier, the Mumbai-based lender ...

  Bloomberg Abu Dhabi sovereign investment fund Mubadala Development Co. will acquire a 20 percent stake in alternative investment firm Investcorp Bank BSC, which has backed companies including Tiffany & Co. and Gucci Ltd. under founder Nemir Kirdar. Mubadala will secure a 9.99 percent stake immediately and a further 10.01 percent after gaining regulatory approval, Investcorp said in a statement ...

  ABU DHABI / WAM Within its endeavour to co-operate with relevant entities in undertaking its regulatory role, the Federal Authority for Nuclear Regulation (FANR) has signed a Memorandum of Understanding (MoU) with the General Authority of Ports, Border and Free Zones Security (MANAFTH). The MoU aims to promote co-operation in the field of radioactive and nuclear materials security in ...