BLOOMBERG Stocks struggled for direction as a hot inflation reading in the UK proved a cautionary tale for global central banks fighting inflation and markets wagering they’re close to the end of their tightening cycles. Futures contracts on the S&P 500 fluctuated in a narrow range after the gauge notched its first back-to-back losses in nearly four weeks. Economic bellwether ...

BLOOMBERG  Tesla Inc’s electric vehicles (EV) took the top four spots on this year’s Cars.com Inc list of the most-American-made cars, the second time in as many years all of the EV-maker’s models ranked in the top ten. Tesla’s Model Y SUV, Model 3 sedan, Model X SUV and Model S sedan ranked in spots one through four, according to ...

BLOOMBERG  Renault’s electric-vehicle (EV) venture is set to be profitable as soon as 2025 with the company readying the Ampere unit for an initial public offering (IPO). The French carmaker also expects to break even on free cash flow by then before raising results to a double-digit operating profit margin by the end of the decade, Renault said. Chief Executive ...

BLOOMBERG  The first rise in UK house prices in seven months was overshadowed by a rapidly darkening outlook for the property market after a surge in bets for higher interest rates. The average cost of a UK home rose to £286,000 ($363,520) in April, up 0.5% compared to the previous month, the Office for National Statistics (ONS) said. The figures ...

BLOOMBERG  Bayer AG is seeking to double the sales potential of its crop-science division by tapping opportunities to reduce carbon emissions from farming. The chemicals firm sees more than €100 billion ($109 billion) in possible revenue from segments adjacent to its core agricultural businesses, it said in a statement, without specifying a time frame. These include precision digital tools to ...

BLOOMBERG  FedEx Corp said it cut 29,000 US jobs over the past year and issued a 2024 profit outlook that fell short of analysts’ expectations as it continues to trim costs in the face of waning package delivery demand. The company is slashing expenses as the industry copes with a decline in package volume following two years of surging demand ...

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) has launched ‘open yards’ as a part of its comprehensive facility offerings. Located in the mainland area of Al Ghail Industrial Zone, these units are readily available for businesses seeking expansive and versatile spaces for their operations. With the introduction of these new open yards, investors are provided with ...

DUBAI / WAM The government of the UAE has hosted a workshop, bringing together officials from 40 federal government entities to design and develop the government’s transformation goals system, to boost efforts to revolutionise government work procedures. The workshop focussed on identifying specific objectives that would drive the UAE’s development over the next 10 years, and accelerate transformative shifts in ...

ABU DHABI / WAM Etihad Airways announced its preparation to welcome more than 4 million passengers at Abu Dhabi International Airport during the summer season between June 20 and September 30. A high volume of travellers will be joining locally in Abu Dhabi, with the remainder connecting from across Etihad’s extensive network of 66 destinations, including new summer routes to ...

PARIS / WAM The 15th session of the UAE-France Strategic Dialogue, co-chaired by Anne-Marie Descotes, Secretary-General of the French Ministry for Europe and Foreign Affairs, and Khaldoun Khalifa Al Mubarak, Chairman of the Executive Affairs Authority, was held in Paris. Building on the bilateral relations between the two countries, and following the directives of UAE President His Highness Sheikh Mohamed ...