Bloomberg Wells Fargo & Co beat analysts’ expectations for third-quarter profit as Chief Executive Officer Charlie Scharf makes progress on his turnaround efforts, but shares declined as expenses were higher than anticipated and loans fell. The bank reported net income rose to $5.1 billion, padded by a $1.7 billion reserve release, according to a statement. Still, the firm took a ...

Bloomberg Car and motorbike maker Honda Motor Co is positioning itself for a vertical takeoff. The Tokyo-based company is embarking on efforts to field a new electric-hybrid air taxi, a robot with human-like hands that may one day toil on the moon and a reusable rocket to carry small satellites into space more economically. Honda’s vision of how people will ...

Bloomberg Google’s cloud-computing division unveiled tools to help clients monitor and reduce their environmental impact, part of the company’s broader push to fight climate change. Customers can now use a carbon-footprint feature to see the gross emissions associated with their use of the Google Cloud platform, the Alphabet Inc.-owned company said in a blog post. Google Cloud also is teaming ...

Bloomberg Toyota Motor Corp cut its global car production target for November by around 15% from an earlier plan as a shortage of parts continues to weigh on the world’s No. 1 automaker. The Japanese company had initially planned to make 1 million cars next month but now expects to do only around 850,000 to 900,000 units, it said. “Since ...

Bloomberg Apple Inc is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units as prolonged chip shortages hit its flagship product The company had expected to produce 90 million new iPhone models in the last three months of the year, but it’s now telling manufacturing partners that the total will be ...

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, and President of the Republic of the Congo, Denis Sassou Nguesso, on Wednesday discussed relations and cooperation between the their countries and ways to enhance them in the economic, trade, investment, and developmental areas ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) launched the golden list project of the industrial products in Abu Dhabi, in collaboration with the Department of Government Support (DGS). This project supports the ICV Certification by encouraging contractors to purchase “Golden list” products in the government bids. This will, in turn, enhance the versatility of the ...

Abu Dhabi / WAM Etihad Airways raised $1.2 billion in the first sustainability-linked loan (SLL) tied to environmental, social and governance (ESG) targets in global aviation. The transaction is the largest sustainable financing in the airline’s history and follows two innovative aviation financing deals – a first-of-a-kindsustainability-linked transition sukuk in 2020 and a loan tied to the UN Sustainable Development ...

ABU DHABI / WAM Fertiglobe, a 58:42 partnership between OCI and Adnoc on Wednesday announced the offer price range and the opening of the subscription period for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The opening of the subscription period for the IPO commences Wednesday, October 13, and will continue until Monday, October 18 for ...

ABU DHABI / WAM Accenture, Etisalat Digital, and Oracle signed a three-year memorandum of understanding (MoU) to offer SMEs and large enterprise clients in the Middle East a seamless digital transformation and journey to Oracle cloud solutions that include infrastructure as a service, platform as a service, and software as a service. By offering a one-stop-shop for Oracle solutions, the ...