January, 2017

• 7 January

  Americans see enduring wage gains as labour market tightens

  

    Bloomberg After six straight years of annual job gains topping 2 million, America’s labour market is as tight as ever, and it’s entering the next phase: an enduring pickup in wages. Average hourly earnings jumped by 2.9 percent in the 12 months through December, the most since the last recession ended in June 2009, according to the Labor Department’s ...

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• 7 January

  USA trade deficit widened in November to a 9-month high

  

    Bloomberg The US trade deficit widened to a nine-month high in November as exports fell and companies and governments imported the most since August 2015. The gap grew by 6.8 percent to $45.2 billion from a revised $42.4 billion in the prior month, Commerce Department figures showed. The November shortfall was in line with the Bloomberg survey median for ...

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• 7 January

  Apple bosses see pay drop in 2016

  

    Bloomberg Apple Inc.’s top executives saw their compensation fall last year while Chief Executive Officer Tim Cook had his biggest payout yet from his record 2011 award. Cook’s five top lieutenants received about $22.8 million each for 2016, according to a proxy statement. The pay packages included $2.8 million in salary and cash bonus, and $20 million in equity ...

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• 7 January

  Volkswagen close to settling US criminal probe

  

    Bloomberg Volkswagen AG is close to reaching a multibillion dollar settlement with the Justice Department over its cheating of diesel emissions tests, according to people familiar with the matter, wrapping up the company’s exposure to US authorities in the long-running scandal. The resolution, which could come as soon as next week, would include criminal and civil penalties, said the ...

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• 7 January

  France’s economy minister visits Tesla to woo Musk

  

    Bloomberg France is setting out to entice Tesla Motors Inc., boasting the country’s anti- pollution stance and incentives for consumers to go electric. France’s Economy Minister Michel Sapin is due to tour the company’s production site in Fremont, California, to argue that if Tesla is going to expand, it should do so in France, a ministry spokeswoman said. Sapin ...

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• 7 January

  World’s biggest tech giants locked in ‘smart home’ race

  

    Bloomberg For years, the biggest names in tech crammed the Consumer Electronics Show floor with fridges, light switches and microwave ovens to preview a futuristic world where you could control every appliance in the home with your voice. But most of these products, bogged down by glitchy software and hard-to-navigate interfaces, failed to go mainstream. This year may be ...

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• 7 January

  Microsoft drives new car software push with Renault-Nissan deal

  

    Bloomberg Microsoft Corp. is rebooting its push to sell software for cars with a new set of programs and services in a bid to keep up with rivals like Google and Apple Inc. that are expanding in auto technology. “We’re not getting into self-driving cars ourselves but we can be an important element of it by providing the platform,” ...

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• 7 January

  Now, go high tech at sea with Carnival’s wearables

  

    Bloomberg Carnival Corp. is unveiling wear- able technology that allows cruise ship staff to personalize service at sea, whether it’s knowing a guest’s favourite drink or wishing them a happy birthday. The world’s largest cruise operator plans to roll out its OceanMedallions on Princess Cruises starting in November. The quarter-size medallions can be worn like a watch, a necklace ...

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• 5 January

  Mubadala to pledge $15bn to SoftBank for tech investment

  

    Bloomberg Abu Dhabi’s Mubadala Development Co. is considering committing $10 billion to $15 billion to partner with SoftBank Group Corp. and Saudi Arabia’s Public Investment Fund in a new vehicle to invest in global technology, according to people familiar with the matter. The SoftBank Vision Fund is set to close in January and will be capped at $100 billion, ...

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• 5 January

  GCC members spend $150 billion a year on education

    ABU DHABI / WAM The Gulf Cooperation Council (GCC) member states are spending nearly US$150 billion a year on education, according to figures released by the GCC Federation of Chambers of Commerce and Industry. ‘‘There is a need for in-depth study of the challenges facing the delivery of quality education despite the huge funds spent throughout the past decades,’’ ...

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