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Bloomberg Samsung C&T Corp., an affiliate of the world’s biggest smartphone maker, is in talks for a multi-year deal to buy cobalt from a Congolese miner, joining Apple Inc. in the global rush to secure supplies of the metal at the heart of the electric-car boom. Samsung C&T has approached Somika SPRL to buy cobalt produced at its Kisanfu mine ...

Bloomberg With his swift rejection of Broadcom Ltd.’s hostile takeover of Qualcomm Inc., President Donald Trump sent a clear signal to overseas investors: Any deal that could give China an edge in critical technology will be swatted down in the name of national security. Although Broadcom is based in Singapore, China loomed large over the US government’s fears about a ...

Bloomberg European Commission President Jean-Claude Juncker demanded Prime Minister Theresa May give more detail about how the UK sees its relationship with the European Union after Brexit. “It’s obvious that we need further clarity if we’re going to reach an understanding on our future relationship,” Juncker told the European Parliament in Strasbourg, France. “It’s now time to translate speeches into ...

Bloomberg Add co-working giant WeWork Cos. to the growing list of players looking to profit from Toronto’s booming office market. The New York-based company is targeting more than a sixfold surge in Toronto by 2020, bringing its locations in the city to at least 20, according to Dave McLaughlin, WeWork’s general manager for the Northeast. WeWork opened its first locations ...

Bloomberg US Secretary of State Rex Tillerson was ousted on Tuesday after a turbulent tenure with President Donald Trump, blindsiding the former Exxon Mobil Corp CEO just hours after he returned from a nearly week-long trip to Africa. “I am proud to nominate the Director of the Central Intelligence Agency, Mike Pompeo, to be our new Secretary of State,” Trump ...

ABU DHABI / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, on Monday announced an allocation of AED64.2 million ($17.4 million) for the development of two projects in the Republic of Seychelles that will enhance the country’s capacity to produce renewable energy from sustainable resources. Confirming the Fund’s support, His Excellency Mohammed Saif ...

Dubai / WAM His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, on Monday officially inaugurated the 13th Hemaya International Forum and Exhibition on Drug Issues under the theme, “Foreseeing the Future of the Global Combat of Narcotic Drugs and Psychotropic Substances: Predictions, Preparations and Prevention Strategies for 2030”. The two-day forum is being held under the patronage of ...

Bloomberg Grab, the dominant ride-hailing service in Southeast Asia, is close to finalising a deal to acquire Uber Technologies Inc.’s business in the region and may sign a deal this week or next, according to people familiar with the matter. Under terms of the proposed agreement, Grab would buy out Uber’s operations in certain markets in Southeast Asia and Uber ...

Bloomberg Blackstone Group LP says it’s found the formula for making money in India, which has become its top-performing market globally after the firm began focusing on bigger buyout deals. Over the past few years, Blackstone has started concentrating on select sectors like consumer and information technology where it expects India to see the most wealth creation, according to Senior ...

Bloomberg The European Union’s trade chief dismissed US President Donald Trump’s threat to impose tariffs on car imports, and vowed to “stand up to bullies,” adding to signs that a widening trans-Atlantic rift over protectionism could escalate into an all-out trade war. “In some places, trade has been blamed for the pains of globalization, others use it as a scapegoat ...