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Bloomberg Typhoon Lan, which is forecast to strike near Tokyo, may cause an estimated $25 billion to $35 billion in damage, said Chuck Watson, a disaster modeler with Enki Research in Georgia. Lan is about 1,169 miles south of Tokyo with top winds of almost 150 miles per hour. That would make it the equivalent of a Category 4 hurricane ...

­­­­­­­­­­­Bloomberg The future of the ride-hailing industry depends on the capricious largesse of two internet billionaires on opposite sides of the globe. Alphabet Inc., led by Larry Page, just backed Lyft Inc., while SoftBank Group Corp. chief Masayoshi Son is set to take a big stake in larger rival Uber Technologies Inc. Alphabet unit CapitalG led a $1 billion investment ...

Bloomberg BMW AG said it was raided by European Union antitrust watchdogs as the EU ramped up a probe into the German car industry following reports that carmakers colluded on technology for decades. News of the search marks the latest development in a probe sparked earlier this year. Daimler AG reported a possible cartel as part of the EU’s leniency ...

Bloomberg Technology companies including Facebook Inc. and Amazon.com Inc. spent more than $10 million on federal lobbying in the third quarter, as Washington ratcheted up pressure on issues ranging from child trafficking to Russia’s alleged meddling in the 2016 election. Amazon spent $3.41 million—its biggest quarter in at least nine years—on tax policy, cloud security and computing, and others, according ...

Bloomberg Theresa May left the European summit with warm words on Brexit from her fellow leaders, and the cold fact of a 60 billion euro ($70 billion) divorce bill they still want her to pay. The prime minister gave her clearest signal yet that she’ll cover the cost of the UK’s liabilities when it leaves the bloc, after leaders promised ...

SHARJAH / WAM Sharjah Archaeology Museum in partnership with Institut Francais in the UAE, and support of UNESCO on Wednesday opened an exhibition that celebrates a 40-year partnership with French archaeologists to unearth the hidden secrets of the UAE’s past. The exhibition was inaugurated by HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, ...

DUBAI / Emirates Business Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, and the MassChallenge, a non-profit start-up accelerator based in Boston (USA), signed a partnership to support global initiatives and projects that attract start-ups as well as investments to Dubai and the UAE. As part of the partnership, a roadmap will be established to expand MassChallenge’s ...

ABERDEEN / WAM Scotland’s First Minister Nicola Sturgeon and Norway’s Minister for Energy and Petroleum, Terje Soviknes, attended the formal unveiling of the world’s first commercial-scale floating wind farm, a renewable energy project which paves the way for the development of wind energy resources in areas beyond the reach of existing offshore wind technologies, according to Abu Dhabi Future Energy ...

Dubai / WAM The General Civil Aviation Authority (GCAA) announced that on December 7, in a ground-breaking and historic moment, the UAE will implement one of the largest airspace changes the region has ever seen. Specifically, the date will signal the completion of the UAE Airspace Restructuring Project (ARP), which will see the Emirates Flight Information Region (FIR) transformed into ...

Bloomberg Toyota Motor Corp. is set to unveil a fuel-cell concept car that aims to offer 50 percent more driving range than its current hydrogen-powered sedan in a technology push that defies a rising wave of battery-driven vehicles. Japan’s biggest auto manufacturer is targeting a 1,000-kilometre range for the Fine-Comfort Ride concept saloon under local standards, compared with about 650 ...