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Bloomberg Daimler AG said its financial targets have become harder to achieve after a tough start to the year, forcing the auto manufacturer to step up efforts to drive down costs. The Mercedes-Benz maker’s first-quarter profit slumped 16 percent after a decline in deliveries combined with the rising cost of developing new models. While earnings met analyst estimates, Chief Executive ...

Bloomberg Oracle Corp. will continue to fight the terms of the Pentagon’s $10 billion winner-take-all cloud computing contract after being kicked out of the bidding process this month, according to the company’s chief lobbyist. Oracle Executive Vice President Kenneth Glueck, who leads the company’s Washington policy shop, said in an interview with Bloomberg News that the company will continue to ...

Bloomberg President Donald Trump revved up his campaign pitch to voters in key Rust Belt states by touting the US economy, saying he’s working to stop jobs from moving to neighbouring countries, and mocking his Democratic opponents. “We’re now the No. 1 economy anywhere in the world and it’s not even close,” Trump said at a rally in Green Bay, ...

BEIJING / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met President of Belarus Alexander Lukashenko on the sidelines of the second Belt and Road Forum for International Cooperation, which concludes on Saturday in the Chinese capital Beijing. During the meeting, Sheikh Mohammed and Lukashenko discussed bilateral ...

LONDON / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Jeremy Hunt, Foreign Secretary of the United Kingdom, Adel Al Jubeir Minister of State for Foreign Affairs of the Kingdom of Saudi Arabia, and David Satterfield, United States acting assistant secretary of state for Near Eastern Affairs, met on Saturday in London ...

DUBAI / WAM Hospitality professionals from every corner of the world will gather in Dubai on Sunday for the opening of Arabian Travel Market, (ATM 2019), the largest travel industry exhibition in the Middle East. Identifying the top tourism trends showing the greatest growth potential is one of the most valuable insights Arabian Travel Market has to offer, and this ...

Dubai / WAM The total value of contracts provided by Dubai SME – the agency of the Department of Economic Development in Dubai mandated to develop the small and medium enterprises, SME, sector — for Government Procurement Programme (GPP), members amounted to AED860 million ($234 million) in 2018. The value was AED1.5 billion in 2017, 44.5% higher than the AED857.76 million ...

Bloomberg President Donald Trump urged Japan to drop its tariffs on American agricultural products as he met PM Shinzo Abe, who for now appears to have deflected the most damaging of US demands on trade. Trump pushed for the end of the Japanese agricultural levy, while not directly mentioning past threats of sanctions on automobiles. For his part, Abe raised ...

Bloomberg Best World International Ltd plunged to its lowest in six months after activist short seller Bonitas Research published a report questioning the company’s accounting and sales. The Singapore-based firm has overstated sales and profit in China, Matthew Wiechert’s Bonitas said in the report, which was based on on-the-ground research on the Chinese mainland. Bonitas believes that Best World’s “Chinese ...

Bloomberg President Donald Trump’s re-election hopes have always hinged on supercharging the US economy, and data showing faster than expected growth provided him a boost just as he prepares to ramp up his campaign. Trump heralded the Commerce Department report that gross domestic product rose at a 3.2 percent annual rate in the first quarter of 2019 — describing it ...