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Bloomberg SoftBank Vision Fund is joining a $300 million investment in Cloudminds, helping the Chinese robotics and artificial intelligence startup ramp up production capacity with the goal of tripling its revenue this year. Cloudminds, which last raised money in 2017 at a $440 million valuation, aims to sell half a million of its robots this year to Chinese customers from ...

Bloomberg China’s former top internet regulator was sentenced to 14 years in prison for corruption, completing the downfall of a once-high-flying official who mingled with executives from Apple Inc and Facebook Inc. Lu Wei was found guilty of taking bribes on Tuesday by the Ningbo People’s Intermediate Court in the eastern province of Zhejiang, according to the official Xinhua News ...

Bloomberg Apple Inc. and Goldman Sachs Group Inc. are joining forces in the consumer credit business, launching the Apple Card for iPhones. The card is tied to Apple Pay, a service that lets people load banking information and pay in store or use it for purchases online. It works globally where Apple Pay is accepted, lets users track spending in ...

Bloomberg SNC-Lavalin Group Inc., the embattled engineering firm at the heart of Canada’s biggest political crisis in years, has been dealt another blow in Chile. Copper producer Codelco said that it cancelled a contract worth $260 million to build two new acid plants in the Chuquicamata mine. Montreal-based SNC has “seriously” and “repeatedly” breached aspects of its contracts, according to ...

Bloomberg Disgruntled drivers showed up at the Omni hotel in San Francisco hoping to make their feelings known to the executives, bankers and potential investors at Lyft Inc.’s IPO roadshow meeting. No one was there. Lyft’s scheduled meeting was held at the Olympic Club instead. It had originally been planned for the Omni, according to a term sheet reviewed by ...

Bloomberg Israel carried out dozens of airstrikes across the Gaza Strip, following a tense day that began with a rocket attack on a home in central Israel and a counterstrike that reduced the office of Hamas’s leader to ruins. Amid the escalation, both sides made preparations for the possibility of a broader confrontation. Israel moved troops closer to its southern ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of the Republic of Uzbekistan, Shavkat Mirziyoyev, on Monday discussed ways of enhancing bilateral relations and tackled a variety of regional and global issues of common interest. During an official session of ...

Ajman / WAM His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, on Monday launched the “Future Build Exhibition.” The exhibition, which was organised by the chamber, is witnessing the participation of 52 major local and international companies in the building, construction and transportation sectors, who are showcasing their latest ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), on Monday hosted a Financial Crime Conference as part of its efforts to strengthen awareness among the financial services sector of the importance of fighting financial crime. The conference highlighted the measures the DFSA is taking to mitigate money laundering and terrorism financing risks. The event shared results of the UAE’s ...

Bloomberg Malaysian billionaire T. Ananda Krishnan’s Bumi Armada Bhd is nearing an agreement for a loan of around $500 million, people with knowledge of the matter said, in a deal that will give the embattled energy firm more time to restructure. Banks are finalising details of a five-year credit facility, according to the people, who asked not to be identified ...