BLOOMBERG Centrica Plc boss Chris O’Shea is on a mission to show the UK government that it needs to rapidly speed up carbon capture projects, which could become crucial if the country is to reach its net zero ambitions. The company’s aging Morecambe gas site, off the west coast of England, wasn’t selected for a support scheme this summer that’s ...

BLOOMBERG European stocks kicked off the week with gains as Israel’s military action in Gaza proceeded more cautiously, while investors look to the Federal Reserve for direction on interest rates. The Stoxx 600 index was up 0.6% in a broad risk-on move, with almost all the sectors trading in positive territory. Oil fell as Middle East conflict remained contained as ...

BLOOMBERG Foreign investors have cut holdings of Indian stocks at a rapid pace over the past week, with disappointing earnings from some bellwether companies souring sentiment just as concerns about the Israel-Hamas war and higher-for-longer US rates hurt demand for riskier assets. Overseas funds sold $768.4 million of local shares alone, the biggest single-day outflow since June 2022 on a ...

ABU DHABI/ WAM The “Tarahum for Gaza” campaign continues with strong momentum and participation of citizens and residents of the UAE. Substantial contributions from the community are continuing in parallel with official efforts, reflecting the UAE’s deep-rooted values of human solidarity. In its third week, the campaign witnessed the participation of 5,000 volunteers during activities organised at the Etihad Arena ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to His Majesty King Hamad bin Isa Al Khalifa of Bahrain, over the death of Shaikha Noura bint Salman bin Hamad bin Isa Al Khalifa. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a phone call today with Recep Tayyip Erdogan, President of the Republic of Türkiye, extending his congratulations on the centennial anniversary of the Republic’s establishment. During the call, His Highness conveyed his best wishes for ongoing progress and prosperity for Türkiye, its government, and people. His Highness affirmed ...

BLOOMBERG After nearly twenty years designing Porsche 911s and Cayennes, Michael Mauer says new competitors led by EV brands from China are making managers and designers in Germany more receptive to risky vehicle concepts. “These startups, with no heritage, they can do things completely different,” Porsche AG and Volkswagen AG’s head of design said in an interview. “I consider it ...

BLOOMBERG Tesla Inc. this week tempered its growth expectations, signaling that pain is coming for the electric-vehicle industry, a Morgan Stanley analyst said on Friday. Adam Jonas, a long-time bull on the EV behemoth, said investors should seriously consider the broader implications for the EV industry globally after the company’s disappointing third-quarter results and its cautious earnings conference call. Demand ...

ABU DHABI/ WAM Making artificial intelligence (AI) more accessible to the next generation of young people – Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) – recently hosted an immersive experience, transporting more than 300 students from UAE schools and MBZUAI into the metaverse to explain generative technology and demonstrate its potential for creativity. Officially launching its AI Armchair series, the conversation ...

BLOOMBERG The Food and Drug Administration’s (FDA) staff raised concerns about safety data on a potential gene-editing treatment for sickle cell disease, ahead of a closely watched meeting where scientific experts will weigh the first therapy using Crispr technology. FDA advisers are preparing to meet on October 31 to consider and discuss an application from Vertex Pharmaceuticals Inc and Crispr ...