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US city has just six ICU beds left with 2.4 million population

Bloomberg With ICU beds down to a single digit, Austin sounded the alarm, using its emergency alert system to let residents in the Texas capital city know that the local state of the pandemic is “dire.” The Austin area — with a population of almost 2.4 million people — has just six intensive-care unit beds left, state health data show. ...

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BT appoints ex-ITV chief Adam Crozier

Bloomberg BT Group Plc has picked Adam Crozier, former chief executive of ITV Plc, as its new chairman, according to a person with knowledge of the situation. Crozier, who’s currently chairman of Whitbread Plc, Kantar Group, and Asos Plc, is set to take up the role after the British telecommunications company announced in March that Jan du Plessis would retire, ...

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Maersk’s green shipping plan runs up against ‘scarce oil’

Bloomberg AP Moller Maersk A/S’s efforts to become carbon-neutral face an unusual hurdle: there isn’t enough used cooking oil to make the biofuel that powers the vessels. “The biofuel is sourced from used cooking oil, but the problem is that the world doesn’t eat enough french fries,” said Chief Executive Officer Soren Skou. “We can’t keep scaling it. If our ...

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Stocks loved in pandemic get wrath of profit misses

Bloomberg Internet stocks, food delivery companies and online retailers are paying a heavy price for any earnings disappointment. Companies from Asos Plc to Zalando SE and Logitech International SA have all suffered steep stock-market losses in Europe after their results in the past month. It’s a fact that makes companies with sky-high valuations look increasingly volatile, and shows that investors ...

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European stocks post best week since March on profits

Bloomberg European stocks closed steady at a record, posting their biggest weekly gain in five months, as traders assessed a better-than-expected increase in US payrolls and positive earnings against delta variant risks. The Stoxx 600 Europe Index ended flat in London at a historical high, bringing the week’s gain to 1.8%. Banks were the best performers, with ING Groep NV ...

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Kenyan shilling all set for its longest losing streak

Bloomberg Kenya’s shilling is on track for its longest stretch of weekly losses this year, despite the central bank’s efforts to prop up the currency, as concerns about a surge in Covid-19 infections spurred dollar buying by importers. The East African nation’s currency was trading little changed at 108.72 against the dollar by 9:30 am in the capital, Nairobi, poised ...

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Emirates Steel a major supporter of UAE’s downstream industries

ABU DHABI / WAM Emirates Steel, the leading integrated steel plant in the Middle East, strives to maximise its contribution to the UAE’s downstream industries, providing this vital sector with 90 percent of its needs from high-quality and wire rods and heavy sections products. This is part of its effort to support and promote the UAE’s Unified Industrial Brand Identity ...

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Nahyan bin Mubarak meets Iran’s new president

TEHRAN / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, met with Iran’s President elect, Ebrahim Raisi, during a UAE delegation’s visit to Tehran. Sheikh Nahyan conveyed greetings of President HH Sheikh Khalifa bin Zayed Al Nahyan, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and HH Sheikh Mohamed ...

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Dubai Customs’ transactions grow 53% to 11m in H1 2020

DUBAI / WAM Dubai showed quick recovery from the repercussions of Covid-19 in different economic sectors thanks to the resilient strategies and plans the emirate followed in the face of the pandemic, and the dynamic and wise initiatives directed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The trade sector continued ...

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