Bloomberg The German economy is getting some wind in its sails just as the waters are about to get rough. The nation, the first of the world’s biggest developed economies to report on its 2016 performance, probably achieved expansion of 1.8 percent, helped by a pickup toward the end of the year. The German result, forecast by economists surveyed ...
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Bloomberg Volkswagen AG’s supervisory board is set to sign off on a $4.3 billion settlement of US criminal and civil penalties for rigging diesel-powered cars to cheat on emissions tests, the latest step in the carmaker’s effort to resolve the scandal. The agreement with the US Department of Justice and customs authorities will include a guilty plea, Wolfsburg, Germany-based ...
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Bloomberg Venezuelans have to navigate a labyrinth of lines to buy staples like sugar or aspirin. They’ve gotten used to finding that the store shelves are empty, a frustration that sometimes boils over into looting. So they don’t really need economic data to tell them that 2016 was a terrible year. Still, when and if the numbers do come ...
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Bloomberg Arctic chill and heavy snowfall left tens of thousands of households in southeastern Europe without electricity as rivers froze over, cables failed and power stations had unplanned outages. From Greece to Hungary, hydroelectric production plummeted as temperatures fell as low as minus 20 degrees Celsius (minus 4 Fahrenheit) and parts of the Danube river were almost entirely covered ...
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Dubai / WAM Dubai International Financial Centre (DIFC) the financial hub of the Middle East, Africa and South Asia (MEASA) region, announced on Tuesday the launch of the region’s first fintech accelerator in Dubai. Set to be operational in the first quarter of 2017, the FinTech Hive at DIFC will introduce cutting-edge financial services technologies to the MEASA markets while ...
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Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, unveiled the UAE energy strategy for the next three decades. The new energy strategy, announced in the presence of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, aims to increase the contribution of clean ...
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Dubai / Emirates Business The UAE’s food and beverage market is continuing its evolution as an international food and beverage capital thanks to forward-thinking operators looking to maximise their stake in a market expected to be worth a whopping AED82 billion by 2020, according to Euromonitor International. Now a record number of local F&B businesses are preparing to capitalise ...
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Bloomberg Takeda Pharmaceutical Co. will expand its footprint in the US oncology market with the $4.66 billion purchase of Ariad Pharmaceuticals Inc., adding one potential blockbuster in lung cancer and another already on-the-market therapy. Takeda will pay $24 a share for Ariad, the companies said in a statement, 75 percent more than its Friday close of $13.74. The deal ...
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Bloomberg Yahoo! Inc. Chief Executive Officer Marissa Mayer is among six directors who plan to leave the board of the investment company that will be left after the closing of the proposed sale of Yahoo’s main internet properties to Verizon Communications Inc. The new company, a shareholder in Alibaba Group Holding Inc. and Yahoo! Japan, will change its name ...
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NEW YORK / AP President-elect Donald Trump has appointed his influential son-in-law Jared Kushner as a White House senior adviser, putting the young real estate executive in position to exert broad sway over both domestic and foreign policy, particularly Middle East issues and trade negotiations. Trump has come to rely heavily on Kushner, who is married to the president-elect’s ...
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