Bloomberg The UK has set out sweeping new plans to regulate tech companies and impose massive fines, but has stopped short of saying how it will enforce the laws. The government will provide a new watchdog — the Digital Markets Unit — with the power to enforce competition rules, such as stopping firms from hurting rivals by preinstalling their own ...

  Bloomberg Elon Musk may be the world’s richest person, but that doesn’t mean he wants to put his massive fortune at risk to buy Twitter Inc. The Tesla Inc co-founder restructured his complex bid for the social-media giant by getting $7.1 billion in equity commitments from investors. He also cut in half the size of a record margin loan ...

Bloomberg Colombian inflation accelerated to its fastest pace since July 2000 last month, as the central bank signals it will continue to raise borrowing costs to rein in soaring prices. The annual inflation rate rises to 9.2% in April, the national statistics agency said, surprising all 24 analysts surveyed by Bloomberg who had a median forecast of 8.8%. The pace ...

  Bloomberg Canada’s economy recorded a surge in trade with the rest of the world in March, as rising prices for commodities coupled with strong domestic demand and a smoother global supply chain drove both the imports and exports. Imports jumped 7.7% in March to C$61.1 billion ($47.7 billion), while exports were up 6.3% to C$63.6 billion, Statistics Canada reported. ...

  Bloomberg Growth at US service providers eased in April while cost pressures worsened, highlighting how decades-high inflation and an ongoing struggle to hire and retain workers is weighing on the sector. The Institute for Supply Management’s gauge of services decreased to 57.1 last month from 58.3 in March, according to data. Readings above 50 signal expansion. The median estimate ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has said that the May 6, 1976, the UAE Armed Forces Unification Day, was a turning point and key milestone in the UAE’s journey. In a statement to mark the 46th anniversary of the Armed Forces Unification Day, carried by the ‘Nation Shield’, His Highness Sheikh Khalifa ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has congratulated the UAE Armed Forces personnel on the 46th UAE Armed Forces Unification Day. His Highness Sheikh Mohamed said the UAE believes in peace as a way to achieve people’s aspirations for ...

  DUBAI / WAM Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, is one of the most extensive clean and renewable energy projects that Dubai Electricity and Water Authority (Dewa) is implementing to achieve net-zero emissions by 2050. The solar park has a planned capacity of 5,000 megawatts (MW) by 2030 with investments ...

  Bloomberg Opec and its allies once again ratified a small monthly increase in production, even as global markets look set to tighten because the European Union is considering banning supplies from Russia. International consumers have called on Saudi Arabia and its partners to fill the gap left by a boycott of Russian crude and help ease the inflationary pain ...

  DUBAI / WAM Tourism professionals from around the world will return to Dubai next week when Arabian Travel Market, the leading event for the travel industry in the Middle East, returns to the Dubai World Trade Centre on Monday, May 9. The event will welcome more than 20,000 visitors and over 1,500 exhibiting companies during the four-day tourism showcase, ...