August, 2020

• 29 August

  McLaren’s once-a-decade debut augurs hybrid supercar future

  

  Bloomberg McLaren Automotive’s first new vehicle chassis in a decade will carry a big burden, underpinning the supercar maker’s transition to all-electrified powertrains. The first of the gas-electric hybrid models built off the carbon fiber architecture will debut next year, McLaren said in a statement. Its composites technology center in Northern England’s Sheffield region developed the chassis and will produce ...

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• 29 August

  Google, Facebook dump plans for undersea cable

  

  Bloomberg Google and Facebook Inc. dropped plans for an undersea cable between the US and Hong Kong after the Trump administration said Beijing might use the link to collect information on Americans. But the companies quickly submitted a revised proposal that includes links to Taiwan and the Philippines, as envisioned in the application that was withdrawn last week. The new ...

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• 29 August

  Alphabet’s Verily to use big data for health insurance

  

  Bloomberg Verily, the Alphabet Inc. life sciences unit that’s previously targeted mosquito-borne illness and launched Covid-19 testing programs, is getting into the health insurance business. The San Francisco Bay Area company announced a new subsidiary named Coefficient Insurance that will also be backed by Swiss Re Corporate Solutions, the commercial insurance unit of Swiss Re Group. The company will sell ...

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• 29 August

  Apple blocks Epic’s App store updates

  Bloomberg Apple Inc. terminated Epic Games’s App Store developer account, escalating a bitter legal fight over the iPhone maker’s controversial fees and rules. This means Epic can’t submit new apps or updates to the App Store and it prevents iPhone users from making purchases inside Epic’s popular Fortnite video game via Apple’s payment system. It will also leave the Apple ...

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• 26 August

  Oil holds at five-month high as hurricane nears US Gulf Coast

  

  Bloomberg Oil held near a five-month high as Hurricane Laura bore down on key refining facilities on the US Gulf Coast, with forecasts saying it will strengthen rapidly into a “potentially catastrophic” Category 4 storm. Futures in New York were steady after jumping 1.7%. The storm is expected to make landfall on Thursday along the Texas-Louisiana coast, according to the ...

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• 26 August

  Oil product stockpiles at Fujairah climb 11%

  

  Fujairah / WAM Stockpiles of oil products at the crude trading and bunkering hub of Fujairah on the UAE East Coast jumped to a six-week high, with marine bunkers and fuel for power generation soaring the most in six months. The stockpiles stood at 26.681 million barrels as of August 24, up 1 per cent from a week earlier, according ...

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• 26 August

  Huawei loses groundbreaking global patents case in London

  

  Bloomberg UK judges can set global royalty rates for the use of telecommunications technology, Britain’s highest court said in a pair of cases over how much Huawei Technologies owes a US patent owner. The UK Supreme Court on Wednesday affirmed a decision that Huawei would either have to pay Unwired Planet International Ltd. a global rate set by judges or ...

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• 26 August

  Emirates adds Conakry, Dakar to its network

  Dubai / WAM Emirates announced it will resume passenger services to Conakry, Guinea, and Dakar, Senegal, from September 3, taking the total number of cities served by Emirates in Africa to eight. Flights from Dubai to Conakry and Dakar will be linked services, operating twice weekly, utilising an Emirates Boeing 777-300ER aircraft. The addition of linked services between Conakry and ...

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• 26 August

  Speed up initiatives that target youth: Mohammed

  

  DUBAI / WAM Vice President and Prime Minister of the UAE, and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has directed the Ministry of Culture and Youth to draft a comprehensive national strategy to develop cultural and innovated-related industries in the UAE, and ensure their contribution to the economy. His Highness Sheikh Mohammed also directed to ...

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• 26 August

  UAE confirms its desire for stability in Mali, Sahel region

  

  ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) said it is closely following the situation in the Republic of Mali. Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, has contacted a number of African organisations, stressing the UAE’s commitment to ensuring stability throughout the Sahel region. In a press statement, Al Hashemy ...

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