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  Bloomberg China’s Beijing WKW Automotive Parts Co. is betting on the future of electric mobility in Germany with a billion-euro factory nearby plants owned by Volkswagen AG and BMW AG. Beijing WKW will invest as much as 1.13 billion euros ($1.24 billion) on an electric car factory in the eastern state of Saxony that will create over 1,000 new ...

  Bloomberg Warren Buffett is acknowledging what many investors have already realized: IBM’s long-promised reinvention is slow, painful and nowhere near close to the end. In an interview with CNBC, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc. disclosed that he sold about a third of the firm’s investment in the computer-services giant during the first half ...

  Bloomberg Mitsubishi Tanabe Pharma Corp. won US approval for its medication to treat Lou Gehrig’s disease, the first new drug for the condition in more than two decades and just the second approved option for patients with the rare and deadly muscle-weakening ailment. Radicava will cost about $145,000 a year before any discounts and rebates, with assistance available to ...

  Bloomberg US payroll gains rebounded in April by more than forecast and the jobless rate unexpectedly fell to 4.4 percent, signaling that the labor market remains healthy and should support continued increases in consumer spending. The 211,000 increase followed a 79,000 advance in March that was lower than previously estimated, a Labor Department report showed. The median forecast in ...

  Bloomberg The race to sell soft drinks online has a surprising second-place winner: Zevia. The zero-calorie, sugar-free soda brand sold more online than Pepsi, Mountain Dew, Sprite or Dr Pepper, according to a new study. The Los Angeles-based company only fell short of perennial soda king Coca-Cola, according to 1010data Inc., an analytics company. From March 2016 through February, ...

  KHOR FAKKAN / RAS AL KHAIMAH WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, paid his condolences to the martyr, Abdullah Mohammed Issa Al Hammadi, who died while performing his national duty in the country, and martyr Hassan Abdullah Mohammed Al Bishir, a soldier ...

  Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, received Abraham Mathai, President of the Harmony Foundation, which awards the annual St. Mother Teresa Awards to prominent global citizens, at the ministry’s headquarters on Thursday. The two parties discussed relations of cooperation between the UAE and the Mumbai-based Harmony Foundation, ...

  Abu Dhabi / Emirates Business Etihad Airways on Thursday announced new roles and responsibilities for four of its most senior UAE nationals. Ahmed Al Qubaisi, who currently holds the position of Vice President Aero Political and Industry Affairs, will be promoted to Senior Vice President and take on responsibility for International Affairs and for Environmental Affairs. Ahmed joined Etihad ...

  Dubai / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) organised a monthly staff gathering at its head office which highlighted the importance of adopting a healthy and positive lifestyle as a foundation for achieving personal and professional success. During his welcome address, Essa Al Zaabi, Senior Vice-President, Institutional Support Sector, Dubai Chamber, revealed that the Chamber ...

  Bloomberg China’s deleveraging campaign is providing a reality check to the fledgling municipal bond market. Set up in 2015 to bring transparency to local-government borrowing practices, the new market benefited from the perception that Beijing had the provinces’ backs, with yields largely on par with the sovereign despite some weak municipal balance sheets. Not anymore — a clampdown on ...