Bloomberg International Business Machines (IBM) Corp is planning to cut about 10,000 jobs in Europe in an attempt to lower costs at its slow-growth services unit and prepare the business for a spinoff. The wide-ranging losses will affect about 20% of staff in the region, according to people familiar with the matter. The UK and Germany are set to be ...

Bloomberg Dell Technologies Inc and HP Inc reported quarterly revenue that topped Wall Street estimates, lifted by customer upgrades of personal computers for remote work and school during the pandemic. Dell’s sales climbed 2.8% to $23.5 billion in the period that ended on October 30, the Round Rock, Texas-based company said Tuesday in a statement. Rival HP reported it shipped ...

Bloomberg Global stocks paused amid their best monthly gains in three decades as investors awaited a slew of economic indicators that could support the rally in risk assets. The Stoxx Europe 600 Index drifted at the open, as cyclicals such as mining and energy firms fell, offsetting advances in defensives including utility shares. Bank stocks edged higher following a report ...

Bloomberg India’s equity benchmark retreated from a record as an early rally in Asian equities faltered. The S&P BSE Sensex lost 0.6% to 44,268.87 in Mumbai, while the NSE Nifty 50 Index declined by the same magnitude. Both slipped from all-time highs, as did the region-wide MSCI AC Asia Pacific Index, which was little changed. “These levels could prove to ...

Bloomberg China stocks fell by the most this month on concern that liquidity conditions in the financial system are not strong enough to support recent gains. The CSI 300 Index lost 1.3% just two sessions after closing at its highest level in five years. The liquidity-sensitive ChiNext Index retreated 2.2% to its lowest since October 23. Investors have been worried ...

ABU DHABI / WAM The Ministry of Economy (MoE) announced the development of a strategic plan and initiatives within the framework of its role in supporting the efforts to combat money laundering practices in the country. MoE is the authority entrusted by the UAE Cabinet with the supervision of designated non-financial businesses and professions sector at the national level and ...

Bloomberg Oil reached its highest level since March as the start of the US presidential transition process buoyed broader markets and a string of positive Covid-19 vaccine news continued to support the demand outlook. Futures rose to their highest since March in New York, alongside the back-end of the forward curve strengthening markedly into backwardation. The structures of both WTI ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with the Sharjah Investment and Development Authority, Shurooq, with aims to foster bilateral cooperation and to provide advanced, innovative services and facilities development to the business community in the UAE. During the signing the ceremony, Mohammed Ali Al Shorafa ...

Abu Dhabi / WAM The UAE has strongly condemned the cowardly attack by the Iranian-backed terrorist Houthi militia on a fuel tank at a petroleum products distribution station in Jeddah, Saudi Arabia. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) renewed its full solidarity with Saudi Arabia regarding these terrorist attacks, and its firm standing with the Kingdom against ...

ABU DHABI / WAM The Mena region’s largest event focused on innovation in financial services, the FinTech Abu Dhabi Festival (FinTech AD), kicked off on Tuesday and will run until November 26. Held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Vice President of the Abu Dhabi Executive Council, and co-hosted by the Central Bank of the ...