News

Bloomberg Rachel Holdsworth has the “Brexit” blues. The 38-year-old London resident is anxious that her already expensive planned holiday to Norway is getting pricier with each passing day. The pound is sinking under the weight of worry that her fellow subjects will vote to quit the EU. “How much I pay will be entirely dependent on the exchange rate,” says ...

Washington / AFP Federal Reserve policymakers will hold their finger away from the rate-hike trigger when they meet next week, analysts say, but chances are it could move a bit closer. Meeting after the European Central Bank cut interest rates on Thursday in the face of weakening eurozone economic growth and inflation, the Fed is expected to heed caution even ...

Bloomberg Maserati North America Inc. is recalling some of its Quattroporte and Ghibli luxury sedans because of danger posed by the driver-side floor mat, which can become dislodged and stuck in the accelerator. “If the floor mat moves and becomes trapped between the accelerator and the vehicle carpet, it may result in very high vehicle speeds, which could cause a ...

Bloomberg Democratic presidential candidate Hillary Clinton proposed to make it harder for foreign automakers to claim that their cars are made in the U.S., as she tries to recruit Rust Belt voters following a surprise defeat in Michigan. At a campaign stop in Youngstown, Ohio, Clinton called for tougher “rules of origin,” the means used to determine whether a product ...

Bloomberg Barrick Gold Corp. confirmed that an Argentine court will proceed with criminal charges against nine current and former Barrick employees in connection with a cyanide solution spill last year. Separately, the San Juan provincial government announced it intends to impose a fine of about $9 million against Barrick, the company said in a statement. Confirmation of the charges comes ...

Bloomberg Global efforts to curb the use of coal-fired power plants may provide a lifeline to Brazil’s embattled sugar cane industry. That’s the bet of companies including Cosan SA Industria e Comercio, co-owner of the world’s largest sugar cane processor, which formed a $130 million joint venture for making sugar cane-based biomass pellets that can be burned to produce electricity. ...

Emirates Business Saudi Aramco President and CEO Amin H. Nasser called for a new era of industrial diversification, anchored by specialty chemicals, and underpinned by a widespread and rapid in-Kingdom expansion of small to medium enterprises that produce high-value finished and semi-finished products in the petrochemicals conversion sector. This approach will unlock opportunities for the Kingdom’s economic diversification, job creation ...

Bloomberg Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market. “They should leave us alone” until then, Oil Minister Bijan Zanganeh said, according to the Iranian Students News Agency. “After that we will work with them.” Saudi Arabia, Russia, Venezuela and ...

Emirates Business Saudi Arabia’s ACWA Power International said that it has acquired 70 per cent of Sunrise Solar Energy Psc, which is developing a 50-megawatt solar power plant in Mafraq Governorate, a statement by the Saudi company said. The value of the deal was not revealed, but experts estimate that a plant of such capacity is worth more than $200 ...

Bloomberg Blackstone Group LP agreed to sell Strategic Hotels & Resorts Inc. to China’s Anbang Insurance Group Co. for about $6.5 billion, just three months after it purchased the U.S. luxury-resort company, according to people with knowledge of the matter. The price is about $450 million more than Blackstone paid for Strategic in December. The New York-based private equity firm ...