Bloomberg Apple Inc’s App Store had operating margins of almost 78% in fiscal year 2019, according to testimony from an Epic Games Inc. expert witness based on documents obtained from the iPhone maker. The figure comes from Ned Barnes, a financial and economics researcher, who said he obtained documents “prepared by Apple’s Corporate Financial Planning and Analysis group and produced ...

Bloomberg Europe’s economy is finally turning the corner from its worst crisis in the postwar period after a devastating double-dip recession. Grim confirmation of another slump in the first quarter still failed to dim prospects for the region that are as bright as they have been since the pandemic struck, with European Union-funded multi-year stimulus plans also finally taking form ...

Bloomberg US equity futures climbed and stocks in Asia dropped on Monday as investors assessed inflation risks amid improving economic activity. The dollar held onto gains. Hong Kong led losses amid low volumes with Japan and China, as well as the UK, among markets closed for holidays. The US and European futures edged higher after the S&P 500 dropped from ...

Bloomberg Retail traders who drove record gains in South Korean stocks during the darkest days of the pandemic are bracing for a new threat — the return of institutional players betting on share-price declines. The world’s longest ban on short-selling stocks came to an end on Monday. Stocks fluctuated between gains and losses. Nevertheless, the end of the ban has ...

ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) on Sunday announced the successful placement of an aggregate $1.5 billion in 7-year and 30-year dual-tranche senior unsecured notes. The 7-year notes, sized at $750 million and maturing April 2028, were issued at a coupon rate of 2.0 percent. The 30-year notes, also sized at $750 million and maturing April ...

Bloomberg India’s government eased some rules relating to indirect-tax compliance to ease the burden of citizens during the pandemic period. Reduced penalty and waiver of late fees on delayed goods and services tax payments were among the measures announced by the Finance Ministry on Sunday. Taxpayers were also allowed more time to file GST returns. For persons with turnover above ...

ABU DHABI / WAM The UAE expressed its strong condemnation of attempts by the Iran-backed terrorist Houthi militia to target civilians and civilian objects in a systematic and deliberate manner in Khamis Mushait, Saudi Arabia, with a booby-trapped plane, which was intercepted by coalition forces. The UAE affirmed – in a statement issued by Ministry of Foreign Affairs and International ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) signed an agreement with Silal, Abu Dhabi’s new fresh food and agritech company, to promote local agricultural products in the emirate. The agreement aims to achieve Abu Dhabi Local Content Programme objectives, particularly those pertaining to the strategies of enhancing food supply chains. It also supports freelancers and ...

Bloomberg Russia increased its oil production in April thanks to a more generous Opec+ quota. The nation pumped 42.81 million tons of crude and condensate last month, according to preliminary data from the energy ministry’s CDU-TEK unit. That equates to 10.46 million barrels a day, or 1.9% more than in March. The data don’t provide a breakdown between crude and ...

ABU DHABI / WAM Wizz Air Abu Dhabi has announced that it will continue to fly to Greece twice a week. Wizz Air Abu Dhabi currently flies to Thessaloniki every Thursday and as of July will fly twice per week on Thursdays and Sundays, while to Athens every Friday and as of June twice per week on Mondays and Fridays. ...