Paul J. Davies Credit Suisse Group AG finally bit the bullet. A properly radical transformation is on the way. It will shut down, sell or spin off most of its investment bank and become a more focused international wealth and asset manager with some trading capabilities attached to a traditional Swiss bank. The new leadership of Chairman Axel Lehmann and ...

Lisa Jarvis Two new, small studies are stirring up more controversy over the new Covid boosters, updated to match the omicron BA.4 and BA.5 strains. The research suggests the shots are no better than old boosters. But that doesn’t mean we should write them off — and certainly doesn’t mean that getting one won’t save lives. The studies are small, ...

Euro-area inflation surged to a fresh all-time high, while the bloc’s economy lost momentum — reinforcing fears that a recession is now all-but unavoidable. Consumer prices jumped by 10.7% from a year ago in October, far exceeding the 10.3% median estimate in a Bloomberg survey. Third-quarter output, meanwhile, slowed to 0.2% from the previous three months — more than analysts ...

Uber Technologies Inc reported revenue that beat analysts’ expectations, fueled by a recovery in driver supply that supported increased ridership, assuaging investor concerns that rising inflation would damp consumer spending. The shares jumped about 6% in early trading. Third-quarter sales jumped 72% to $8.34 billion, the San Francisco-based company said on Tuesday in a statement. That exceeded the $8.1 billion ...

UK house prices fall the most since the start of the pandemic in October as political and market turmoil sent shock waves through the property market. The average value of a home dropped 0.9% to £268,282 ($309,500), the Nationwide Building Society (NBS) said on Tuesday. It was the largest decline since June 2020 and much sharper than the 0.3% reduction ...

Dubai / WAM  The inaugural launch of the Mohammed Bin Rashid Space Centre’s (MBRSC’s) Rashid Rover is now scheduled no earlier than November 22. This updated target launch date is provided by the launch partners. Built by innovative Emirati minds, the rover will be launched on SpaceX Falcon 9 rocket from the Space Launch Complex 40 at Cape Canaveral Space ...

Abu Dhabi / WAM   Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (Adnoc) on Monday called for maximum energy with minimum emissions to ensure global energy security in his opening address at the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference (Adipec). “A few ...

Abu Dhabi / WAM  Abu Dhabi National Oil Company (Adnoc) and Gail (India) Limited signed a memorandum of understanding, on Monday, to explore collaboration opportunities in liquefied natural gas (LNG) supply and decarbonisation, including short and long term LNG sales agreements. The agreement also includes potential optimisation of LNG trading activities, the review of joint equity investments in renewables and ...

Abu Dhabi / WAM  Abu Dhabi National Oil Company (Adnoc) announced on Monday, it has set a new Upstream Methane Intensity target of 0.15 percent by 2025. The new target is the lowest in the Middle East, reinforcing Adnoc’s status as a leader in the responsible production of lower carbon energy. Adnoc’s 0.15 percent methane intensity target means Adnoc will ...

Abu Dhabi / WAM  President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the President of Kyrgyzstan, Sadyr Japarov, attended the exchange of several memoranda of understanding (MoUs) and agreements between the UAE and Kyrgyzstan to enhance cooperation in various fields. The MoUs and agreements exchanged between the two sides at Al Shati Palace included the following: An MoU ...