Bloomberg An engine on an American Airlines plane that exploded on a Chicago runway October 28, triggering a massive blaze, had an apparent manufacturing defect, US investigators said. A disk within the General Electric Co. CF6-80 engine had an “internal inclusion,” meaning some type of foreign debris was embedded within the special alloy designed to withstand the heat and ...

  Bloomberg TAG Heuer could report record growth in revenue as it increases market share amid a slump in the Swiss watch industry. The brand that considers itself the leader in “accessible luxury” has achieved double-digit growth so far in 2016, which may make it a “record year,” Chief Executive Officer Jean-Claude Biver said in a Bloomberg interview on Sunday ...

  Bloomberg Mobile Telecommunication Co. is considering introducing new services such as fiber-optic internet access in Saudi Arabia after winning an upgrade to its license, a move that would bring the scope of its offerings nearer to larger Saudi Telecom Co. Saudi Arabia’s third-largest phone operator “has the most to gain” from a licensing change by the government because it ...

  Bloomberg Iran is working on regulations to attract investment in renewable energy, according to Elham Aminzadeh, adviser to President Hassan Rouhani, as the nation considers solar, wind and hydro power as ways to diversify from regular crude-based fuel. The government is working on laws designed to be as attractive for foreign investment as they are for domestic companies, Aminzadeh ...

  Reuters Gulf investment firm Adeptio has chosen Kuwait’s National Investment Company (NIC) to manage a mandatory tender offer to remaining Kuwait Food Co (Americana) shareholders, the advisor said in a bourse filing on Sunday. NIC did not provide a timeframe for when the offer process would happen. The disclosure comes after Adeptio, led by prominent Dubai businessman Mohamed Alabbar, ...

  Bloomberg Egypt, which relies on imports to meets its energy needs, faces higher costs for gasoline and other oil products unless it cuts fuel subsidies after the government decided to float its currency, according to analysts at Petroleum Policy Intelligence and KBC Energy Economics. The Arab world’s most populous country took the unprecedented step on Thursday of allowing the ...

  Bloomberg OPEC can’t cut oil production alone to stabilize the market, according to the former Saudi Arabian energy minister who masterminded the pump-at-will policy the group adopted two years ago. “I don’t think OPEC by itself should cut,” Ali Al-Naimi, who for two decades was arguably the world’s most influential oil official until he retired in May, told a ...

  Bloomberg Australia could be stripped of its top credit score by S&P Global Ratings as early as next month if the government’s interim budget review shows further deterioration, according to BlackRock Inc. The mid-year economic and fiscal outlook, which for the past three years has been delivered in December, could be a “catalyst” for the country to lose its ...

  AFP Japan and India are set to sign a controversial civil nuclear deal this week, reports said on Sunday, as the two Asian allies look to boost economic and security ties to counter an assertive China. India’s Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe are set to sign a deal on Friday that would allow Japan ...

  Bloomberg Electric cars will fall short of helping the environment without cleaner energy to charge the vehicles’ batteries, said Carlos Ghosn, chief executive officer of Nissan Motor Co. and Renault SA. “At least the car industry is bringing a breakthrough, which consists in saying that you are going to be transporting yourself from one place to another with zero ...