Bloomberg UBS Group AG handed out the smallest bonuses in four years and lowered Chief Executive Officer Sergio Ermotti’s payout as profit slumped last year. The bank cut the bonus pool for 2016 by 17 percent to 2.9 billion Swiss francs ($2.9 billion), according to its annual report. Ermotti, 56, remains the highest-paid executive at the Zurich-based lender, with ...

  Bloomberg Egypt’s external finances improved following the Nov. 3 decision to float the pound, the central bank said, as inflows from investments, remittances and exports picked up. The balance of payments surplus grew to $5.1 billion in the October to December period, from $1.9 billion in the previous quarter, the regulator said in a statement on its website. The ...

  Bloomberg The European Central Bank doesn’t plan to announce a new round of free long-term loans to financial institutions after its policy meeting, according to people familiar with the issue. Targeted longer-term refinancing operations (TLTROs) won’t be renewed for now, the people said, asking not to be named because the Governing Council’s deliberations are private. That stance could still ...

    NEW YORK / AP If the tech industry is drawing one lesson from the latest WikiLeaks disclosures, it’s that data-scrambling encryption works, and the industry should use more of it. Documents purportedly outlining a massive CIA surveillance program suggest that CIA agents must go to great lengths to circumvent encryption they can’t break. In many cases, physical presence ...

  LOS ANGELES / AP Cars with no steering wheel, no pedals and nobody at all inside could be driving themselves on California roads by the end of the year, under proposed state rules that would give a powerful boost to the fast-developing technology. For the past several years, tech companies and automakers have been testing self-driving car prototypes in ...

  Bloomberg Kuka AG, the German robot maker acquired last year by Midea Group Co. of China, needs to lower costs and win government recognition as a local brand to achieve its goal of becoming the No. 1 supplier in the Chinese market, according to an executive. “Kuka has a reputation for reliability, but as you know, as a German ...

  Bloomberg Jeff Regan was born with underdeveloped optic nerves and had spent most of his life in a blur. Then four years ago, he donned an unwieldy headset made by a Toronto company called eSight. Suddenly, Regan could read a newspaper while eating breakfast and make out the faces of his co-workers from across the room. He’s been able ...

  AP Dalia Rhodes’ wedding dress went down the aisle twice: Once at her wedding in 2015, and again a year later after she sold her gown to a stranger online. “I just wanted someone else to enjoy a pretty dress,” says Rhodes, who used the website Once Wed to sell it for $800, about half of what she originally ...

  Bloomberg Oil capped the biggest weekly loss since November after surging US supplies erased three months of gains that followed OPEC’s deal to cut output. Futures tumbled 9.1 percent this week in New York. For a second day, they closed below the settlement on November 29, the day before OPEC agreed to the curbs. US crude stockpiles have expanded ...

  Dubai / WAM The Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), along with Dubai Exports, the export promotion agency of DED, will go on a two-week tour of the United States (US), as part of strengthening the emirate’s engagement with major economies to reinvigorate global trade flows and foreign investment. The ...