DUBAI / WAM The Most Noble Number charity auction, held this evening in Dubai, has raised AED97.920 million that will go in full towards supporting the “1 Billion Meals Endowment” campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish the largest Ramadan sustainable food ...

DUBAI / WAM The UAE Ministry of Climate Change and Environment, a leading force in global climate initiatives, hosted ministers and over 150 high-ranking officials from 50 government and private entities at the ‘Green Retreat’. This collaborative event showcased the UAE’s dedication to addressing climate change and served as a strategic precursor to the nation’s much-anticipated hosting of the Conference ...

BLOOMBERG Airbus SE will double production capacity in China of its top-selling jet in a bold bet on future demand in one of the world’s biggest aviation markets. The European planemaker will add a second final assembly line for A320 narrow-bodies at its existing factory in Tianjin, under a deal signed by Chief Executive Officer Guillaume Faury in Beijing. The ...

BLOOMBERG Southwest Airlines Co, which promised to cut bonus payments after a late-December meltdown in flight operations, boosted short-term incentive pay for its chief executive officer and chief operations officer. CEO Bob Jordan’s bonus for 2022 rose 89% to $195,720, according to a regulatory filing by the Dallas-based airline. He received more than $5.3 million in total compensation last year, ...

BLOOMBERG Johnson & Johnson (J&J) said it agreed to pay $8.9 billion to resolve all cancer lawsuits tied to its talc-based powders and will make a fresh attempt to contain the liability within a bankruptcy filing by one of its units. The world’s largest maker of healthcare products hopes to settle complaints from about 60,000 claimants and fund a trust ...

BLOOMBERG A growing number of people are buying used clothing, shoes and accessories, propelling the secondhand industry to $177 billion in global sales last year, according to a new report from online thrift marketplace ThredUp Inc. That marks a 28% increase over 2021, thanks to surging inflation, more retailers developing curated secondhand or “resale” offerings, plus increased awareness of sustainable ...

GENEVA / WAM Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO (World Trade Organization) economists said in a new forecast. Weighed down by the effects of the crisis in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty, the volume of world merchandise trade ...

BLOOMBERG The UK’s construction industry grew more slowly than expected in March as sliding demand for houses cut into activity across the sector. The Construction Purchasing Managers’ Index from S&P Global fell to 50.7 in March — above the crucial no-change reading of 50 but down from 54.6 in February. It missed economists’ expectations of 53.6. While activity on commercial ...

BLOOMBERG Vodafone Group Plc’s Spanish business is attracting takeover interest from potential buyers, including Apollo Global Management Inc, people with knowledge of the matter said. The British telecommunications group has been contacted by other financial and strategic suitors interested in the business, according to the people. While it’s not running a formal sale process for the unit, Vodafone would consider ...

BLOOMBERG South Korea played down any possibility of a rift with the US over a report that American intelligence agencies had eavesdropped on allies’ discussions about Ukraine, reiterating that its alliance with Washington remains strong. “We will review past precedents and cases from other countries to come up with countermeasures,” and will hold consultations with the US on the issue, ...