September, 2022

• 26 September

  Barclays sued by investors over multibillion securities blunder

  

  Bloomberg Barclays Plc was sued by shareholders who claim they suffered significant losses after the British lender disclosed that paperwork errors led it to accidentally issue billions of dollars more in structured and exchange-traded notes than it had registered for sale. The bank and its executives “made materially false and misleading statements” and failed to disclose important information about both ...

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• 26 September

  Citi seeks final bids for Mexico unit by October

    Bloomberg Citigroup Inc is seeking a second and perhaps final round of bids for its Mexican retail arm Banamex by the end of October in what could be one of the year’s biggest banking deals, according to people familiar with the matter. Carlos Slim’s Grupo Financiero Inbursa, the Mexican bank Grupo Financiero Banorte and mining tycoon German Larrea are ...

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• 26 September

  Klarna to cut staff, growth plans after losses mount

    Bloomberg Klarna Bank AB, months after announcing major job cuts and taking a $39-billion hit to its valuation, is planning to restructure parts of its business further to suit a slower-growing, smaller operation. In a meeting this week, a manager in the internal engineering unit of the Swedish buy-now-pay-later company told staff, some of whom were about to lose ...

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• 26 September

  GM’s commitment to electric cars still has skeptics

  

  Bloomberg In a surprise move, General Motors Co joined forces with the Environmental Defense Fund (EDF) to recommend tougher emissions rules for passenger vehicles. But skeptics remain unconvinced by the company’s professed commitment to going green, citing GM’s history of battling tougher fuel economy rules. GM and the EDF are recommending that the Environmental Protection Agency (EPA) establish standards ensuring ...

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• 25 September

  Mazda sees no return path to production in Russia: Yomiuri

  

  Bloomberg Mazda Motor Corp is considering a permanent exit from Russia after its invasion of Ukraine put a halt on the Japanese carmaker’s production in the country. The company said its withdrawal is under discussion as it sees no path to restarting production in Russia, following a Yomiuri report that said it had decided to pull out. The Hiroshima-based carmaker ...

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• 25 September

  Meta sued for skirting Apple privacy rules to snoop on users

  

  Bloomberg Meta Platforms Inc was sued for allegedly building a secret work-around to safeguards that Apple Inc launched last year to protect iPhone users from having their internet activity tracked. In a proposed class-action complaint in San Francisco federal court, two Facebook users accused the company of skirting Apple’s 2021 privacy rules and violating state and federal laws limiting the ...

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• 25 September

  Roblox boasts of its popularity in Russia

  Bloomberg Roblox Corp.’s popularity in Russia is increasing even as almost every other publicly traded gaming company has retreated from the country after its invasion of Ukraine. At Roblox’s developer conference on Friday, Chief Executive Officer Dave Baszucki said Russia sees more than 2 million active Roblox users a day. Russians are among Roblox’s largest consumer base after the US, ...

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• 24 September

  Adnoc, Taqa close $3.8b clean energy, decarbonisation deal

  

    ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company PJSC (Taqa) on Friday announced the successful financial closing of their $3.8 billion strategic project to power and significantly decarbonise Adnoc’s offshore production operations. Together with a consortium comprised of Korea Electric Power (KEPCO), Kyushu Electric Power Company (Kyuden) and Electricité de France ...

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• 24 September

  UAE leaders congratulate Saudi King on National Day

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, have sent messages of congratulations to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the occasion of the Kingdom’s 92nd ...

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• 24 September

  Saudi investors own shares worth AED5.6 billion: ADX

  

    ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) announced an increase in the value of shares owned by Saudi investors, totalling AED5.627 billion at the beginning of September, representing 25 percent of the total shares owned by Arab and Gulf Cooperation Council (GCC) investors, and amounting to AED22.897 billion. In its statement to the Emirates News Agency ...

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