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Bloomberg Fiat Chrysler Automobiles NV agreed to pay a $40 million penalty related to years of sales reports the US Securities and Exchange Commission (SEC) said were fraudulent. The Italian-American automaker issued statements that misled investors by wrongly claiming monthly gains, the SEC said. Fiat Chrysler inflated results by paying dealers to report fake sales. The company also maintained a ...

Bloomberg Nestle SA is increasing checks on the coffee it buys, after recent tests showed beans from some countries had levels of the weedkiller glyphosate that are close to a regulatory limit. The world’s largest coffee roaster has informed suppliers of Indonesian and certain Brazilian beans of the new procedures, which go into effect starting from October 1, according to ...

Bloomberg Jaguar Land Rover (JLR) plans to close its UK factories for a week in November to guard against disruption to supply chains from a possible no-deal Brexit, Chief Executive Officer Ralf Speth said. The shutdown will go ahead whether or not Britain seeks an extension to the October 31 deadline for leaving the European Union, he said at a ...

DUBAI / WAM The Mohammed bin Rashid Space Centre (MBRSC), announced the successful launch of the space mission carrying the first Emirati astronaut, Hazza Al Mansoori, aboard the Russian spacecraft Soyuz MS-15, at 5:57 pm UAE time. This is the UAE’s first mission to the International Space Station (ISS), from the Baikonur Cosmodrome in Kazakhstan. Al Mansoori is accompanied on the ...

Dubai / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, on Wednesday visited the Cityscape Global 2019 – the 19th annual edition of the gateway event for regional real estate investment – at Dubai World Trade Centre (DWTC). HH Sheikh Ahmed was joined ...

Dubai / WAM The Dubai Diamond Exchange’s newly upgraded auction facility was revealed on Wednesday, in a bid to drive a rise in the number of auctions held in Dubai, and boost sales and trade flows through the emirate. DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, on Wednesday unveiled the redesigned ...

AL AIN / WAM Sheikh Hazza bin Tahnoon bin Mohammed Al Nahyan, Under-Secretary of the Court of the Abu Dhabi Ruler’s Representative in Al Ain Region inaugurated the 11th edition of Al Ain Book Fair, which plays a vital role in bolstering the UAE’s publishing industry. Running at Al Ain Convention Centre until October 3, the Book Fair is held ...

Bloomberg It’s a fight that President Donald Trump has been spoiling for, and one that House Speaker Nancy Pelosi was reluctant to give him. And now, with the involvement of the Democratic front-runner Joe Biden, it’s a fight that could overtake the 2020 presidential campaign, no matter who becomes the Democratic nominee. Pelosi announced a formal impeachment inquiry. If it ...

Bloomberg Vietnam’s campaign to tamp down the Trump administration’s trade gap ire has come to a coastal commune better known for growing dragon fruit along one-lane potholed roads. The community could soon be home to a $5 billion liquefied natural gas project that would include an import terminal and gas-fired power plant and eventually import billions of dollars of US ...

Bloomberg Ford Motor Co is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said. Mahindra, one of India’s largest automakers, will own 51 percent of the new ...