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Bloomberg A network of private railroads more than three times the length of the New York subway system is the key lifeline for Australia’s A$61.3 billion ($44.5 billion) iron ore export industry. So when there’s a derailment in the biggest shipper — global markets, as well as the ground, shudder. A runaway train that derailed this week after traveling 92 ...

Bloomberg Even before ballots are counted from the elections, some clear winners have emerged, as Google and Facebook Inc. reap windfalls from political advertising after a season of controversy over online political speech. Political ad spending is on course to set a record, exceeding expenditures in the 2016 presidential election year, with a total of perhaps $9 billion. Political ad ...

Bloomberg Qualcomm Inc. suffered a setback in its fight with US antitrust regulators who accuse the semiconductor maker of abusing a monopoly in chips for cell phones and raising costs for consumers. US District Judge Lucy Koh in San Jose, California, sided with the Federal Trade Commission on part of the agency’s antitrust case against Qualcomm ahead of a trial ...

Bloomberg Just as Prime Minister Theresa May is closing in on a Brexit deal, the march of companies quitting Britain is getting louder. On one day alone, CME Group Inc. said it’s moving its $240 billion-a-day short-term financing market to Amsterdam from London in another blow for the City, while German ball bearings maker Schaeffler AG announced the closing of ...

ABU DHABI / WAM The first three renewable energy projects under the $50 million United Arab Emirates-Caribbean Renewable Energy Fund (UAE-CREF), have broken ground in the Bahamas, Barbados and Saint Vincent and the Grenadines, the UAE Ministry of Foreign Affairs and International Cooperation (MOFAIC), announced on Tuesday. Fully financed by the Abu Dhabi Fund for Development (ADFD), the UAE-CREF is ...

Abu Dhabi / Emirates Business Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, announced the issuance of a thought paper on infrastructure for crypto and distributed ledger environment, and financial market infrastructures (FMIs). The thought paper is issued in cooperation with the Central Securities Depositories (CSD) and under the patronage of the International Securities Service Association (ISSA). CSDs ...

SINGAPORE / WAM The historic shift in energy use, from West to East, coupled with the rapid adoption of advanced technologies, are creating new challenges and opportunities for the global oil and gas industry as it changes gear to meet the growing energy demand from the high-growth economies of Asia, said Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of ...

Abu Dhabi / WAM Government ministers from 18 countries and more than 80 leading oil and gas CEOs will meet in Abu Dhabi next week, as the 2018 Abu Dhabi International Petroleum Exhibition and Conference (Adipec), commences amid a background of unprecedented change for the industry. Hosted by the Adnoc; and supported by the UAE Ministry of Energy and Industry, ...

Bloomberg Takeda Pharmaceutical Co. Chief Executive Officer Christophe Weber pushed back against dissident shareholders seeking to stop the Japanese drugmaker’s acquisition of Shire Plc, saying he won’t release minutes of boardroom discussions. A group including members of Takeda’s founding family opposes the planned $62 billion acquisition of the UK-listed biotech firm, which would rank as the biggest overseas takeover by ...

Bloomberg Chinese billionaire Li Shufu spent the past decade expanding his auto empire buying Volvo, a stake in Daimler AG and a startup that is building flying cars. Now he’s looking to reinvent the bullet train. Li’s Zhejiang Geely Holding Group signed an agreement on Tuesday with state-owned China Aerospace Science and Industry Corp. to build “supersonic trains” using homegrown ...