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Bloomberg The UK Treasury is expected to post the largest budget deficit for any January in at least 25 years, tying the hands of Chancellor Jeremy Hunt as he faces calls to cut taxes and boost public-sector pay. In normal times, January delivers a bumper surplus as workers and companies settle their tax bills. But this year, spending is being ...

  Bloomberg SpaceX is facing a $175,000 fine from the Federal Aviation Administration (FAA) for failing to provide proper advance data about an August 2022 Starlink launch and its potential for collision with debris in orbit. “SpaceX was required to submit the data to the agency at least seven days prior to an attempted launch,” the FAA said in a ...

  Bloomberg Renault SA’s Alpine is once again in the run for a Formula 1 championship this season but with a much bigger prize in mind than just gaining a few podiums. It’s seeking women drivers. The brand, which finished fourth last year in the constructors championship, is boosting investments to develop female talent in professional racing, a male-only realm ...

Bloomberg Tesla Inc has been weighing a takeover of battery-metals miner Sigma Lithium Corp, people with knowledge of the matter said, amid rampant demand for the metal used in electric vehicle batteries. The EV maker run by Elon Musk has been speaking with potential advisers about a bid, said the people, who asked not to be identified discussing confidential information. ...

  Bloomberg Formula 1 “will never switch to electric,” Stefano Domenicali, president and chief executive officer of the motor sport group, said in an interview published by Italian newspaper Il Sole 24 Ore. To help lower emissions, F1 is developing a zero-emission petrol that “could be used by planes and vessels” as well, Domenicali said. The successor of Bernie Ecclestone ...

  Bloomberg Abbott Laboratories is facing another probe into its role in last year’s baby formula shortage that left millions of American families scrambling for vital nutrition products. Last month, Abbott received a civil investigative demand from the US Federal Trade Commission seeking information in connection with its probe of companies that participate in bids for formula contracts, according to ...

Abu Dhabi / WAM For the past 12 days, the UAE has been providing assistance to the victims of the earthquakes in Türkiye and Syria as part of the ‘Gallant Knight/2’ operation. To date, 97 cargo planes have been sent to both countries, with 58 flights carrying 1918 tonnes of relief materials to Syria, and 39 flights carrying 706 tonnes ...

  Abu Dhabi / WAM Adnoc has announced its intention to float a 4% minority stake in Adnoc Gas, its world-class gas processing, operations and marketing company, on the Abu Dhabi Securities Exchange (ADX). The offering is expected to open on February 23, subject to regulatory approvals and other relevant considerations. Adnoc Gas (the company), formed in January 2023 through ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Vjosa Osmani of Kosovo, on the occasion of her country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also dispatched similar messages to the ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) has released a comprehensive report on the Takaful insurance sector in the UAE, with the aim of developing this critical industry and enhancing the country’s position as a leading Takaful insurance market globally. The report highlights the growing importance of the Takaful insurance sector in the local market, as ...