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Bloomberg The UK plans sweeping powers to intervene in foreign takeovers of British assets if deemed a threat to national security. A draft law would expand the range of transactions open to government intervention, the Department for Business, Energy and Industrial Strategy said. There will be scope for fines and retroactive interventions in deals that complete after the bill’s publication ...

Bloomberg Thyssenkrupp AG is in talks with the German government over an aid package for its struggling steel unit worth at least 5 billion euros ($5.9 billion), well exceeding the group’s current market value in a key push to secure its survival. Chancellor Angela Merkel’s government has signalled a willingness to provide financial support to shore up the unit and ...

Bloomberg Inflation sped up more than forecast in Mexico and Brazil as unrelenting food price increases defy central bank plans to support virus-ravaged economies with low interest rates. Mexico’s consumer prices rise further above the official target range in October as fruit and vegetable costs soared, according to data, while food costs drove Brazil’s fastest inflation rate for that month ...

Dubai / WAM Jebel Ali Port, DP World’s flagship port handled over five million metric tonnes of metal, steel and construction materials in 2019. At an average, the port has handled around 4.5 million TEU from 2010 to 2019, which equates to 1 billion metric tonnes until 2019. Over 50 million metric tonnes of general cargo has been handled from ...

NIAMEY (Niger) / WAM The Emirates Red Crescent (ERC) inaugurated the “Al Medina Village” in Niger, under the framework of its development initiatives in the west country. With the follow up of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and ERC Chairman, the ERC’s projects in Niger aims to strengthen the efforts of the ...

Bloomberg France is prepared to further ramp up spending to support any firm, from mom-and-pop shops to its national flag carrier, as rising unemployment and a resurgence of the Covid-19 pandemic cast a longer shadow over the economy. Finance Minister Bruno Le Maire pledged that if needed the state will pump more public money into Air France and expand funding ...

Bloomberg Land Securities Group Plc slashed the value of its properties by 945 million pounds ($1.2 billion) as the coronavirus pandemic forces thousands of stores to close. The company, one of the UK’s largest real estate investment trusts, incurred most of the damage in retail assets that were written down by more than 20% outside London and about 17% in ...

Bloomberg A Covid-19 vaccine from Pfizer Inc may be on the horizon, but the cost of distributing vaccines across all 50 states and who will pay for that operation remains a huge stumbling block. What is clear is that much of the financial burden and logistical challenge of getting a vaccine to people has fallen on the shoulders of state ...

Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – on Monday announced the official opening of a representative office in Shenzhen, China, that is expected to usher in a new wave of business opportunities to Dubai. The office setup is in partnership with Yingtian Global – an award-winning ...

Abu Dhabi / WAM The UAE’s overall crude oil reserves reached 97.8 billion barrels in 2019, according to figures released by the Federal Competitiveness and Statistics Authority (FCSA). The figures showed that the country’s production of crude oil stood at 3.058 million barrels per day (bpd) during the same period. FCSA also reported that natural gas production in the UAE ...