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Bloomberg Norway’s $1 trillion sovereign wealth fund has been bulking up on stocks that got hammered during March’s historic market decline, adding to stakes in companies such as Carnival Corp. and Royal Dutch Shell Plc. The fund has acquired holdings of 5% or more in seven US-traded companies since mid-March, according to filings by Oslo-based Norges Bank. The list includes ...

Bloomberg Zero-percent financing deals hit a record last month as carmakers kept the US auto market from collapsing. More than one in every four new vehicles sold in April did so with 0% loans, according to market researcher Edmunds. By opening up the lending spigots, the US avoided a reprise of the almost 80% drop automakers experienced in China in ...

Bloomberg Calogero Lo Vetro couldn’t wait to get back to work, describing the scene he saw on his return as “something from a sci-fi movie,” with health monitors decked out like space men checking staff at Fiat Chrysler Automobiles NV’s Mirafiori plant during its preliminary reopening. Lo Vetro, a quality-control officer at the Turin area factory whose models include Fiat’s ...

Bloomberg North Korean troops fired at their South Korean counterparts on Sunday in the demilitarised zone that divides the two countries, a move that comes as its leader Kim Jong-un reappeared in public following an unexplained three-week absence. North Korea fired “several times” at a South Korean military guard post at about 7:41 am, and was met with retaliatory shots ...

ABU DHABI / WAM The UAE leadership spared no effort in ensuring welfare of workers even under the current circumstances, said Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance. In a statement to mark the International Labour Day, Sheikh Nahyan said the UAE leadership has given a priority to the workers’ welfare, adding that the ‘Don’t Worry’ initiative launched ...

Dubai / Emirates Business Samsung Gulf Electronics is encouraging UAE consumers to switch to safer alternatives such as mobile wallets to minimise potential hygiene issues while making purchases in stores. Samsung Pay, the brand’s mobile payment service, offers customers a convenient way to purchase anything through contactless payments in every corner of the country safely and securely. Mobile wallet transactions ...

Bloomberg The UK government will give companies guidance in within days on how to return to work safely once the coronavirus lockdown is eased, as it comes under pressure from business not to withdraw its financial support too soon. Firms will get advice on different types of workplace activity, including operating outdoors or inside someone else’s home, according to two ...

Bloomberg Telefonica SA and billionaire John Malone’s Liberty Global Plc are exploring a combination of their UK operations, people with knowledge of the matter said, in a deal that would reshape the British telecommunications industry. The companies are discussing bringing together Telefonica’s O2 wireless unit and Liberty Global’s Virgin Media business, according to the people, who asked not to be ...

Bloomberg With meat-processing workers falling victim to the coronavirus, shuttering plants and slowing supply, Americans are starting to see poorly stocked aisles where once beef was plentiful. At the same time, the link between industrial meat production and deadly human viruses has become more widely understood. The global crisis, in other words, is turning into a big opportunity for the ...

Bloomberg Kim Jong-un ended his almost three-week absence from public events with a factory visit, an appearance that will ease, but not end, concern about the stability of the North Korean regime and control of its nuclear arsenal. Kim presided over a May Day ceremony to mark the completion of the Sunchon Phosphatic Fertilizer Factory northeast of the capital Pyongyang, ...