June, 2022

• 30 June

  Britain’s graduate starting salaries soar 7% in a year

  

    Bloomberg Britain’s 2022 university graduates will compete for jobs with salaries 7% higher than their equivalents last year, although each one will still have to fight off 35 other applicants to secure the role. Advertised graduate salaries have risen to a six-year high of £26,076 ($32,000) this summer, research from the job search site Adzuna showed. The number of ...

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• 30 June

  Tesla slashes 200 Autopilot workers

    Bloomberg Tesla Inc laid off hundreds of workers on its Autopilot team as the electric-vehicle maker shuttered a California facility, according to people familiar with the matter. Most of the roughly 200 people let go were hourly workers, the people said late Tuesday, a surprise given that Tesla previously disclosed headcount reductions targeted at salaried positions. As recently as ...

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• 30 June

  Spanish inflation rises to 10%

  

    Bloomberg Spanish inflation unexpectedly surged to a record, defying government efforts to rein it in and signalling intensifying price pressure as the European Central Bank (ECB) gears up to raise interest rates for the first time in more than a decade. The surprise 10% reading for June dashes hopes that inflation in the euro zone’s fourth-biggest economy had peaked ...

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• 30 June

  Novartis plans to cut 8000 jobs globally

    Bloomberg Novartis AG will cut as many as 8,000 jobs under a plan to save at least $1 billion by 2024 and boost the pharmaceutical giant’s performance. The Swiss company detailed the cuts, equal to more than 7% of its global workforce after outlining the restructuring in April. Among other things, Novartis plans to generate savings by combining its ...

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• 30 June

  BYD’s 66% gain catapults stock to near trillion yuan market cap

  

    Bloomberg BYD Co, the Chinese electric vehicle maker backed by Warren Buffett, is on the cusp of entering the trillion-yuan-market-cap club as its production resilience and the government’s consumption incentives helped spur a rally. Shares of the Shenzhen-based company have surged 66% since a March low through, which pushed its market valuation to around $142 billion. Further gains will ...

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• 29 June

  Stocks fall, bonds rise amid worries about growth, oil advances

  

    Bloomberg Stocks dropped on Wednesday on renewed worries about economic growth as monetary policy tightens in much of the world to fight inflation. European equities fall for the first time in four days with sentiment hurt by China remaining committed to its zero-Covid-19 approach. US contracts steadied after a tech-led slide hurt the S&P 500. The yield on German ...

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• 29 June

  Strata enters deal to build most energy efficient AC system in UAE

  

    Abu Dhabi / WAM A new partnership was announced on Tuesday between Strata Manufacturing, a UAE-based Digital Factory pioneer, Hyperganic, an AI-based engineering platform company with offices in Germany and Singapore, and German industrial 3D printing company EOS to build the world’s most energy-efficient residential air conditioner (A/C) system. The partnership is a result of the Ministry of Industry ...

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• 29 June

  UAE expresses solidarity to Jordan over port accident victims

    ABU DHABI / WAM The UAE has expressed its solidarity with the Hashemite Kingdom of Jordan over the victims of the tragic accident caused by a gas leak in the port of Aqaba, which caused numerous deaths and injuries. The Ministry of Foreign Affairs and International Cooperation expressed its sincere condolences and sympathy to the Jordanian government and people ...

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• 29 June

  Alpha Dhabi becomes parent company of Aldar

  

    Abu Dhabi / WAM Alpha Dhabi Holding has increased its stake in Aldar Properties, reaffirming its position as the largest shareholder and consequently becoming Aldar’s parent company. Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar to complement its existing majority representation on Aldar’s Board of Directors. Accordingly, Aldar will be treated as a subsidiary ...

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• 29 June

  Abu Dhabi Exports Office inks pact to boost UAE exports to West Africa

  

    Abu Dhabi / WAM Abu Dhabi Exports Office (Adex), the export-financing arm of the Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the ECOWAS Bank for Investment and Development (Ebid). Following this, a line of credit of $20 million will be opened between the two entities enhancing strategic cooperation and increasing the volume of trade ...

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