Bloomberg Foot Locker Inc. suffered its worst stock decline in more than eight years after first-quarter results missed analysts’ estimates, an outcome the retailer blamed in part on slow income-tax refunds. The shares tumbled as much as 17 percent to $58.13, the biggest intraday plunge since the financial crisis was underway in November 2008. The athletic-shoe chain blamed “unprecedented challenges” ...

Bloomberg Here is Google’s vision for the future of computing: As you drive home from work, you tell your car, “Ok, Google,” triggering the company’s Assistant. You order food, the digital helper handles the transaction and makes sure it’s ready when you arrive. Right now, Amazon.com Inc. and its Alexa digital assistant are closer to realizing that goal, having cut ...

Bloomberg Robots are everywhere. They’re stocking shelves, pruning trees, making cocktails, delivering room service. Now they’re even showing up for work in some of the smallest factories, in a boost for manufacturing in the US and a potential new threat to traditional production-line jobs. The robotics wave began sweeping into automobile and other plants decades ago, stopping short of shops ...

Bloomberg This year has been a big one for the technology sector, and now we’re getting data on just how quickly investors are piling into this already crowded area of the equity market. Investors ranging from institutional accounts to retail clients plowed about $1 billion into tech stocks during the past week, pus-hing inflows to the highest annualized pace in ...

Bloomberg Subaru Corp. is considering Autoliv Inc.’s stereo cameras for its driver-assist system as the Japanese automaker looks for options beyond a Hitachi Ltd. unit that has been a supplier for almost a decade, people with knowledge of the matter said. The company is evaluating both the suppliers’ prototypes for its EyeSight system when another upgrade is planned in 2020 ...

ABU DHABI / WAM The 9th International Economic Summit in Kazan between Russia and the Organisation of Islamic Cooperation (OIC), member countries started on Thursday in Kazan, the capital of Tatarstan, and will conclude on May 20. The UAE’s participation in this event is represented by a senior delegation, chaired by Dr Rashid bin Ahmed bin Fahad, Minister of State. ...

ABU DHABI / WAM The number of floating shares in the national banking sector available for trading reached 25.6 billion at the end of the first half of May, constituting 50 percent of the total capital of 18 national banks, amounting to 51.2 billion shares. The latest official statistics issued by the Abu Dhabi and Dubai financial markets show a ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM) has announced that it joined R3 as a new member of its international consortium. ADGM is the first regulatory body in the Middle East and North Africa region to be part of the R3 consortium, comprising over 80 members from the world’s leading financial institutions and regulators. As a member, the ADGM ...

DUBAI / Reuters UAE Exchange Group, a global remittance and foreign exchange business, aims to spend between $250 million and $300 million on acquisitions to build its global market share, its chief executive said. The group aims to increase its share of the $575 billion global remittance industry to more than 10 percent by 2020, from 6.75 percent currently, Promoth ...

Abu Dhabi / Emirates Business The UAE participated in the first trade and investment dialogue between the Gulf Cooperation Council (GCC) and the European Union (EU), which concluded at the headquarters of the Council’s General Secretariat at Saudi Capital of Riyadh. The Ministry of Economy organized the UAE delegation which was headed by Mohammed Nasser Hamdan Al Zaabi, Director of ...