Bloomberg Volkswagen has agreed to pay at least $1.2 billion in buybacks and compensation to settle claims from US owners of cars with larger diesel engines that the company rigged to cheat on emissions tests. And the German automaker could pay even more — as much as $4 billion — if it can’t repair many of the cars in ...

  Bloomberg Apple Inc. attracted a swathe of new iPhone customers over the holiday period, auguring well for a more significant upgrade to its flagship product this year — and the services revenue that these devices are increasingly generating. Existing iPhone users upgraded to the latest iPhone 7 models at about the same rate as the iPhone 6S a year ...

  Bloomberg Nintendo Co. shares slipped to a five-month low after a cut in the company’s operating profit forecast indicated sales of its upcoming Switch console may not make up for weak demand for mobile games and the 3DS gaming device. The stock declined 2.1 percent to close at 22,625 yen, the lowest since Aug. 30. The Kyoto-based company cut ...

  PARIS / AP An Austrian luxury hotel is ditching electronic room cards for old-fashioned locks and keys after having its systems frozen by blackmail-hungry hackers. The management of Romantik Seehotel Jaegerwirt, in the Austrian Alps, said that they’ve been repeatedly targeted by cybercriminals. One recent infection with ransom software on December 6 resulted in a complete shutdown of hotel ...

  Bloomberg European stocks fell, following stocks in the US, as investors awaited earnings reports and assessed the US president’s latest moves on trade and immigration. The Stoxx Europe 600 Index declined 0.4 percent at 3:48 p.m. in London, approaching its lowest close this year. Media and chemicals shares fell the most, while gains in retail and real estate companies ...

  DUBAI / Reuters Middle East fund managers are strongly positive toward fixed income in the region because of expanding international bond issuance and they also plan to increase their equity holdings, a monthly Reuters poll found. The poll of 13 leading fund managers, conducted over the past week, found 46 percent expect to raise their investment in fixed income ...

  Abu Dhabi / Emirates Business FGB, one of the leading banks in the UAE and the largest by market capitalisation, achieved a record group net profit of AED 6.03 billion for the full year 2016, compared to AED 6.01 billion in 2015, marking its 17th consecutive year of consistent growth in profitability. Full year 2016 Earnings Per Share amounted ...

  DUBAI / WAM The Dubai Islamic Economy Development Centre (DIEDC) launched its enhanced Islamic Economy Strategy for 2017-2021 under the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and General Supervisor of the Dubai Capital of Islamic Economy initiative. Making the announcement, Sheikh Hamdan said that ...

  ABU DHABI / WAM The Executive Committee of Abu Dhabi Executive Council approved a number of projects listed in Abu Dhabi Plan, at a total cost of AED304 million. During a meeting held on Tuesday under the chairmanship of Saeed Eid Al Ghafli, the committee approved a project to develop infrastructure for an intelligent transportation system in Al Ain ...

  ABU DHABI / WAM An increased participation, interest and engagement from specialised international marine based companies is expected at the Naval Defence Exhibition (NAVDEX 2017) to be held in Abu Dhabi in conjunction with the International Defence Exhibition and Conference (IDEX). Organised by ADNEC, in collaboration with UAE Armed Forces under the patronage of His Highness Sheikh Khalifa bin ...