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Bloomberg General Electric Co. plunged towards its recession-era low and the company’s bonds fell sharply after an influential analyst slashed his price target. JPMorgan Chase & Co. analyst Steve Tusa cut his view on the shares 40 percent to $6, the lowest on Wall Street, citing rising liabilities, a weakening cash-flow outlook and poor third-quarter results on “almost all fronts.” ...

Bloomberg The most destructive series of wildfires in California history co-uld cost the state, insurers and homeowners at least $19 billion in damages, as firefighters struggled to gain control in swirling wi-nds across vast swaths of state. The carnage caused by fires north of San Francisco and near Los Angeles could be on par with the type of destruction triggered ...

ABU DHABI / WAM Twenty-six of the world’s leading oil and gas sector leaders gathered in Abu Dhabi, on Sunday, for a high-level industry forum focused on the evolving dynamics of the energy landscape and the opportunities for hydrocarbon produced energy to support global growth, today, and in the future. HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the ...

ABU DHABI / WAM The Ministry of Economy (MoE), has organised a session which brought together more than 50 industry professionals, policy makers, representatives of universities, venture capital firms, various foundations and federal and local government organisations, to discuss the UAE’s innovation agenda. ‘Innovation@UAE’ aimed to provide stakeholders a platform for sharing their inputs on UAE’s innovation ecosystem, to identify ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that being proactive in creating a better tomorrow is a priority for the UAE government. This approach guides the development of strategies and services for positively impacting people’s lives. “Advanced technologies and sciences are shaping the future. ...

Dubai / WAM The Business Registration and Licensing (BRL) sector in the Dubai Department of Economic Development (DED) issued 1,898 new licenses during October 2018, an increase of 25.8% compared to September (1,509 licenses), as Dubai remained a destination of choice for investment in diverse business sectors. Among the new licenses issued, 62.1% were commercial, 35.5% professional, 1.4% related to ...

Bloomberg So many world leaders came to the French capital on Sunday to commemorate the end of World War I that organisers had to use buses to move them around. But the focus was on whether two of the 69 — Donald Trump and Vladimir Putin — would find time to get together amid the ceremonies. French President Emmanuel Macron ...

Bloomberg Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country. Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to ...

Bloomberg Amazon.com Inc. is betting that stores of the future won’t have any clerks or registers. A company in Japan thinks it can get there first. Signpost Corp., which has a staff of about 100, has already deployed its technology in a kiosk on the platform of a train station in Tokyo. It’s an ideal testing ground: a small space ...

Bloomberg German Chancellor Angela Merkel’s desire to nurture more “global players” has turned Berlin’s gaze towards Brussels and to reshaping European Union rules that clamp down on mergers and technology giants. Merkel, facing her final years as German leader, has criticised the EU for focussing too much on competition in narrow European national markets at the expense of the bigger ...