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Bloomberg The European Union unveiled a blueprint for a free-trade deal with the US that would cut tariffs on a wide range of industrial goods including cars in a bid to heal commercial ties. European Trade Commissioner Cecilia Malmstrom asked EU governments in Brussels for the go-ahead to start negotiations on lowering trans-Atlantic commercial barriers, prodding US President Donald Trump ...

Bloomberg A US privacy investigation of Facebook Inc, begun after a major data breach was exposed in March, is likely to result in a record fine against the company, according to a person familiar with the matter. The Federal Trade Commission, the nation’s chief privacy watchdog, is weighing a penalty against the social-media giant for violating a 2011 settlement with ...

Bloomberg Elon Musk is cutting Tesla Inc.’s workforce by 7 percent — or more than 3,000 jobs — warning that the “road ahead is very difficult” in making electric cars more affordable for the mass market. Tesla shares fell as much as 7.7 percent shortly after the start of regular trading. Musk wrote in a blog post that the Palo ...

ABU DHABI / WAM The UAE is establishing a new model of sustainability, investing heavily in advanced science and technology, and equipping national talents with the necessary skills to ensure optimal use of available resources, asserted Ministers from the UAE Government at a special ministerial session during Abu Dhabi Sustainability Week 2019 (ADSW 2019). Sustainability is the way for the ...

DUBAI / WAM A high level Italian delegation led by Italian Vice-Minister of Foreign Affairs and International Cooperation, Manlio Di Stefano, explored ways to build closer ties in energy and water sectors with the Dubai Electricity and Water Authority (Dewa). This came during a meeting held by Saeed Mohammed Al Tayer, Managing Director and CEO of Dewa, with the delegation. ...

Abu Dhabi / WAM Masdar, the Abu Dhabi Future Energy Company, has positioned itself in the commercial off-grid energy sector by increasing its capacity to rapidly deploy solar kits in off-grid communities around the world. Building on the company’s extensive experience delivering renewable solutions in remote communities, the Masdar-branded kits named “Noor” – displayed at the Masdar stand throughout Abu ...

New York / WAM Dubai Chamber of Commerce and Industry led a delegation of UAE retail leaders to New York to participate in NRF 2019: Retail’s Big Show, the world’s largest retail expo and conference, where the delegates explored the latest trends and technologies reshaping the future of the global retail sector. The delegation was headed by Majid Saif Al ...

Bloomberg The UK stands at its most dangerous crossroads in decades after Parliament emphatically rejected Theresa May’s Brexit deal and left her facing an uncomfortable vote to oust her government. The humiliating defeat on Tuesday evening, the biggest for any government in modern history, leaves May’s divorce agreement with the European Union all but dead and opposition leader Jeremy Corbyn ...

Bloomberg Carlos Ghosn is on the verge of losing his final fingerhold on power within the world’s biggest car-making alliance, with Renault SA said to be laying plans to remove him as chairman and chief executive officer. Two months after Ghosn’s shock arrest for alleged financial crimes in Tokyo, the French carmaker’s board will probably meet in the coming days ...

Bloomberg Du Zhenye outperformed his peers in China last year by selling nearly all his stock holdings and piling into bonds. He’s predicting 2019 will be similar for the market. “Bonds will be a sure bet,” said Du, who plans to buy short-dated debt issued by local government financing vehicles, as well as long-dated government and policy bank notes. Falling ...