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Bloomberg One of the world’s biggest sellers of coal is yielding to investor pressure on climate change, the clearest sign yet that movement is sweeping the natural resources industry. Glencore Plc has promised to limit coal production and align the business with Paris climate targets. It’s a surprising about-face from a company that’s spoken glowingly of coal in the past ...

Bloomberg Ford Motor Co. is shutting a factory in Brazil in an attempt to turn around its money-losing South American business, dealing a blow to Jair Bolsonaro less than two months into his presidency. The automaker expects to record $460 million in charges related to exiting the heavy-truck business in all of South America, according to a statement. It’s halting ...

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, met a number of delegations and defence ministers who are visiting the country to participate in Idex 2019 being organised at Adnec. His Highness Sheikh Mohamed bin Zayed met, separately, with Ibrahim Kasuri Fofana, ...

ABU DHABI / WAM The Defense and Security Development Fund of Tawazun Economic Council signed a funding agreement reaching the potential total of AED 193 million with Halcon Systems LLC, a company owned by the Abu Dhabi-based Yas Holding Group. The agreement was signed during Idex 2019 by Abdulla Al Huwar, Strategic Technology Investments Director at Defense and Security Development ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday that Fitch Ratings, Fitch, has assigned Adnoc Group a standalone credit rating of AA+. The rating, according to Fitch, highlights the company’s high upstream output and significant reserves, strong profitability, commercially-focused business model, downstream integration and conservative financial profile. The rating, Fitch said, sits at the ...

Dubai / WAM The Dubai Entertainment, Amusement and Leisure Show (DEAL 2019), will feature a USA pavilion for the first time in its 25-year history. With 25 American organisations choosing to participate in the largest entertainment and amusement industry event in the Middle East, the show organisers have earmarked a prominent location for the exhibitors. Apart from China, the US ...

Bloomberg Japan is sticking to its view that the US won’t apply higher tariffs on imports of Japanese cars and auto parts so long as negotiations toward a trade deal continue, according to Tokyo’s lead negotiator with Washington. The comments from economy minister Toshimitsu Motegi come as policy makers in Japan and Europe fret about the findings of a US ...

Bloomberg China unveiled a sweeping plan to link Hong Kong and Macau with cities in southern China to create a so-called Greater Bay Area, aiming to transform the coastal region into a high-tech megalopolis to rival California’s Silicon Valley. The outline plan, published in Chinese by Xinhua News Agency, said the government will seek to turn the area into a ...

Bloomberg Honda Motor Co. said it plans to close its factory in the UK in the biggest blow yet to the British auto industry already buckling under thousands of job cuts and the loss of key models in the run-up to Brexit. The site in Swindon, about 80 miles west of London, is the nation’s fourth-largest auto plant and employs ...

Bloomberg Investor confidence in Germany’s economic outlook improved for a fourth straight month, hinting at a modest pickup in momentum in the coming months. A gauge measuring prospects for the next half year rose to minus 13.4 in February, beating an estimate for a gain to minus 13.6. While the index recorded its longest streak of improvements since early 2015, ...