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Bloomberg The UK Treasury is expected to post the largest budget deficit for any January in at least 25 years, tying the hands of Chancellor Jeremy Hunt as he faces calls to cut taxes and boost public-sector pay. In normal times, January delivers a bumper surplus as workers and companies settle their tax bills. But this year, spending is being ...

  Bloomberg SpaceX is facing a $175,000 fine from the Federal Aviation Administration (FAA) for failing to provide proper advance data about an August 2022 Starlink launch and its potential for collision with debris in orbit. “SpaceX was required to submit the data to the agency at least seven days prior to an attempted launch,” the FAA said in a ...

Bloomberg Tesla Inc has been weighing a takeover of battery-metals miner Sigma Lithium Corp, people with knowledge of the matter said, amid rampant demand for the metal used in electric vehicle batteries. The EV maker run by Elon Musk has been speaking with potential advisers about a bid, said the people, who asked not to be identified discussing confidential information. ...

  Bloomberg Abbott Laboratories is facing another probe into its role in last year’s baby formula shortage that left millions of American families scrambling for vital nutrition products. Last month, Abbott received a civil investigative demand from the US Federal Trade Commission seeking information in connection with its probe of companies that participate in bids for formula contracts, according to ...

Bloomberg The US held aerial drills with South Korea and Japan in a show of force a day after North Korea’s intercontinental ballistic missile (ICBM) test, as tit-for-tat military moves added to simmering tensions in the region. South Korea and the US flew B-1B bombers escorted by their fighter jets on Sunday in the joint air drill, the Joint Chiefs ...

  Bloomberg China and the European Union (EU) should prepare for a meeting of their leaders, Beijing’s top foreign policy official said, a sign of the Asian nation’s efforts to court Europe amid worsening ties with the US. In a meeting on the sidelines of the Munich Security Conference, Wang Yi urged EU counterpart Josep Borrell to help “bring bilateral ...

  Abu Dhabi / WAM Edge group PJSC has taken a 70 percent stake in Abu Dhabi-based Gradeone that specialises in manufacturing non-lethal pyrotechnics, ammunition, defence-related components and packing solutions, as well as defence trading. Gradeone will join Edge under its Trading & Mission Support cluster. The announcement has come ahead of the International Defence Exhibition (Idex) to be held ...

Gaziantep / WAM The UAE field hospital in Ä°slahiye, Gaziantep, Turkey, has provided urgent medical treatment and psychological support to 174 victims of the recent earthquake that struck Turkey and Syria. The hospital, located on a 40,000 square meter area, has 50 beds and four ICU beds, and has already performed three major surgeries while continuing its humanitarian efforts to ...

  Abu Dhabi / WAM The Tawazun Council has announced its participation in the International Defense Exhibition and Conference (Idex 2023) and the Naval Defence Exhibition and Conference (Navdex 2023), which will be held from February 20-24 at the Abu Dhabi National Exhibition Centre (Adnec). Under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the event ...

  Bloomberg Germany utility Uniper SE said it will overcome the problems generated by Russian gas cuts by 2024 at the latest. The company — which was rescued by the German government last year after the energy crisis put it on the brink of collapse — said it may continue to face high gas replacement costs in the next years, ...