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Bloomberg Almost 2,000 dock workers at Britain’s biggest container ship port plan to strike for eight days this month after failing to reach a pay deal, threatening to sever one of the UK’s most important trade routes. Workers at Felixstowe will strike from August 21 to August 29, the Unite union said in a statement. Talks failed after the port, ...

  Bloomberg US consumer borrowing surged in June, reflecting a jump in credit-card balances and a record increase in non-revolving lending that includes auto and school loans. Total credit increased $40.2 billion from the prior month, second only to March’s $47.1 billion spike, Federal Reserve figures showed. The median forecast in a Bloomberg survey of economists called for a $27 ...

  Bloomberg As volcanic activity in Iceland starts, the country’s tourism industry kicked into high gear, grasping an opportunity to revive the business after the pandemic had banished most visitors from the Atlantic island for more than two years. With reports emerging of sightings of lava, the shares of Icelandic airlines Icelandair hf and Fly Play hf, which flies under ...

Bloomberg Canadian employment unexpectedly falls for a second straight month in July as workers dropped out of the labour force, adding to evidence the economy is losing momentum. The country shed 30,600 jobs last month, Statistics Canada reported in Ottawa, a surprise negative reading compared to the 15,000 gain anticipated by economists. Still, the unemployment rate held at a record ...

  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) and Edge signed a memorandum of understanding (MoU) to establish the UAE’s first Industry 4.0 Enablement Centre aimed at promoting, enabling, and supporting the digital transformation and the adoption of Industry 4.0 technologies across the country’s manufacturing sector. The ministry and Edge will explore how the Enablement ...

  Abu Dhabi / WAM The Abu Dhabi International Boat Show (Adibs), the UAE capital’s prestige boating, leisure marine and fishing show, has announced the launch of early bird ticket sales for the eagerly anticipated 2022 event. Organised by the Abu Dhabi National Exhibitions Company (Adnec), the fourth edition of Adibs will take place at Adnec’s brand new Marina Hall ...

  Abu Dhabi / WAM The National Emergency Crisis and Disasters Management Authority (NCEMA), represented by the Department of Safety and Prevention, held a brainstorming session to discuss the national framework for preparedness and public safety. The session saw the participation of a number of federal and local agencies concerned with managing institutional and community risks. The session discussed a ...

  Bloomberg Glencore Plc will return an additional $4.45 billion to shareholders in dividends and share buybacks after first-half profit more than doubled to a record thanks to surging coal prices. Glencore, the world’s top coal shipper, has been one of the biggest winners from the global energy crunch as demand surges for fossil fuels. The company’s sprawling trading business ...

Bloomberg China announced sanctions on US House Speaker Nancy Pelosi over her landmark trip to Taiwan this week, making her the highest-ranking US official designated for penalties by Beijing. The Chinese Foreign Ministry announced the unspecified sanctions against Pelosi and her immediate family after the speaker departed from Japan late Friday. Earlier, Foreign Ministry spokeswoman Hua Chunying told a regular ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday two contracts totalling more than $3.4 billion (AED12.6 billion) have been awarded to Adnoc Drilling to hire 8 jack-up offshore rigs. The contracts, valued at $1.5 billion (AED 5.6 billion) and $1.9 billion (AED 7 billion) respectively, awarded by Adnoc Offshore, will support the expansion of ...