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Bloomberg General Electric Co. plunged the most in nine years after the company disclosed an expanded federal accounting probe and worsening troubles at its ailing power business. The Securities and Exchange Commission is widening its investigation of the company’s accounting to look at a $22 billion charge in the power-equipment unit, the company said as it reported earnings for the ...

Bloomberg UK businesses are getting increasingly nervous about Prime Minister Theresa May’s ability to pull off a Brexit deal. Optimism in Britain’s economy slumped in October to the lowest level this year, with confidence falling in almost all parts of the country, Lloyds Bank said in a survey published on Wednesday. The concern is spread across firms of sizes, with ...

Bloomberg The US economic expansion will stretch into the 2020s and a flattening yield curve is normal and unlikely to invert soon, according to US investment manager Payden & Rygel. The global economy looks on firm footing across the board, with unemployment rates trending lower and inflation rates remaining well behaved, said Brad Boyd, senior vice president at the Los ...

Manama / WAM King Hamad bin Isa Al Khalifa of Bahrain has received HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in the presence of Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development. King Hamad commended the results of the joint UAE-Bahrain committee that convened on October 29-30, during which a ...

DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, officially inaugurated the Global Islamic Economy Summit 2018 (GIES), the world’s largest forum dedicated to all aspects of the Islamic economy, which got underway in Dubai on Tuesday. Held under the theme “A Shared Future”, the two-day ...

Sharjah / Emirates Business Sharjah Entrepreneurship Center (Sheraa) on Tuesday announced that the second edition of the largest entrepreneurship festival in the UAE, Sharjah Entrepreneurship Festival (SharjahEF), will be held on November 20-21, at the Sharjah Golf and Shooting Club. Held under the patronage of Sheraa Chairperson HE Sheikha Bodour Bint Sultan Al Qasimi, the 2018 edition of SharjahEF will ...

Dubai / Emirates Business In the presence of His Excellency Rustam Noor Ali Minnikhanov, President of the Russian Republic of Tatarstan and His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, Dubai Airport Freezone Authority (DafzaA) and the Dubai Islamic Economy Development Centre (DIEDC) have launched the first of its kind Halal Trade and Marketing ...

Bloomberg Deadly politically tinged violence that stunned the nation last week likely will sharpen the hard partisan edge that is defining the first midterm election of Donald Trump’s presidency. Grief and calls for civility have been replaced by finger-pointing by some members of both parties, including Trump, who blamed the news media for fostering hate just days after he made ...

Bloomberg China plans to deepen its foreign-exchange markets to encourage both domestic and overseas players to trade and borrow external currencies more onshore, in the latest step towards fostering a global role for its financial system. The China Foreign Exchange Trade System (CFETS), an arm of the central bank, plans to develop swaps involving overseas currencies — such as between ...

Bloomberg A tug-of-war between Japanese and American traders has been keeping yen watchers busy in October, according to a pattern which has emerged in daily price moves for the currency several times this month. On those days, the yen has shown a tendency to strengthen during US trading hours, as stock market volatility sparks a flurry of haven bets, before ...