Bloomberg Apple Inc.’s victory over a record back-tax order faces a challenge at the European Union’s top court as Competition Commissioner Margrethe Vestager seeks to rescue her crackdown on allegedly unfair fiscal deals doled out to multinational companies. The EU’s General Court “made a number of errors of law” when it sided with Apple in its ruling in July, the ...

Bloomberg Nissan Motor Co. expects to return to profitability in 2021 if the current momentum continues, with demand in China already bouncing back from the pandemic, Chief Executive Officer Makoto Uchida said. The company, which in May reported its first fiscal year loss in a decade and the biggest in 20 years, is forecasting a strong recovery in the Chinese ...

Bloomberg Google’s search engine, one of the most-profitable businesses in history, is about to face its biggest challenge as the US government readies an antitrust lawsuit accusing the company of crushing competition to protect and extend its monopoly. After a 14-month investigation, the Justice Department is homing in on whether Google skews search results to favor its own products and ...

Bloomberg Wondery Inc., the company behind hit podcasts has hired financial advisers to explore strategic options, including a potential sale, hoping to cash in on growing interest from technology and media firms. Wondery is expected to garner at least $200 million if it pursues a sale and could fetch as much as double that, which would represent the biggest podcasting ...

Bloomberg Facebook Inc. will require employees to use either their own picture or an image of their initials as their internal profile photo as part of a broader effort to encourage more respectful discourse internally. The policy will prohibit using profile images with political content. The company will also create dedicated groups on its internal employee network for people to ...

ABU DHABI / WAM Abdulla Bin Touq Al Marri, UAE Minister of Economy, emphasised that the ties between the UAE and the Kingdom of Saudi Arabia (KSA) represent a unique and exceptional model of bilateral relations. “The UAE and KSA are the pillars of stability and development in the Gulf and Arab region, and our relations with our brothers in ...

ABU DHABI / WAM The Emirate of Abu Dhabi is celebrating two new significant business events-related achievements, after the Abu Dhabi Convention and Exhibition Bureau (ADCEB) unveiled news that the UAE capital has climbed business destination rankings compiled by two prestigious organisations. Both the Union of International Associations (UIA) and International Congress and Convention Association (ICCA) have reported that Abu ...

DUBAI / WAM UAE and Uzbekistan announced a new phase of their strategic partnership for government modernisation, introducing new sectors including economy, manufacturing, and business incubators. The announcement was made during a video conference meeting held between Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, and Sardor Umurzakov, Deputy Prime Minister – Minister of Investment and Foreign Trade of ...

Abu Dhabi / WAM The UAE is raising capacities of testing laboratories to enhance food safety across the country, a top official told Emirates News Agency. “At present, the foremost of my priorities is food security. At the Ministry of Climate Change and Environment, we focus on raising the UAE’s food security, diversity, and self-sufficiency, enhancing the competitiveness of country’s ...

Bloomberg Oil held near $40 a barrel in New York as positive European manufacturing data and rising equity markets gave some respite to demand worries. Futures edged higher, buoyed by stronger-than-expected manufacturing figures from Germany, while S&P 500 futures advanced with European equities. Citigroup Inc. said it remains bullish on the outlook for oil, though the market is undergoing a ...