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Bloomberg Shanghai will replace Paris in the top five of global city economies by 2035 in a sign the balance of the world’s economy is shifting east, according to an Oxford Economics study. The top 780 cities in the world, which already produce almost 60 percent of global activity, will add almost half a billion more people and $32 trillion ...

Bloomberg Just as most people are packing up for the holidays, dealmakers across the world are rushing to finish up a slew of transactions in industries ranging from consumer to telecom to health care. Companies have announced about $361 billion of mergers and acquisitions this month, making it the busiest December in at least 12 years, according to data compiled ...

Bloomberg Yandex NV, Russia’s largest search engine, bought local food-delivery firm Foodfox to expand its tie-up with Uber Technologies Inc. in the country, according to a statement on Monday. Uber agreed in July to merge its business in Russia and CIS with Yandex into a $3.7 billion joint venture to be controlled by the Russian company, as it battles across ...

Bloomberg Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms. The deal solves a long-running dispute, with Facebook agreeing to compensate the company and artists including Taylor Swift when users post videos that include copyrighted material. The accord includes Facebook, Instagram ...

Bloomberg The Kremlin is “concerned” about the possibility the US might further expand sanctions on Russia, presidential spokesman Dmitry Peskov said. “We don’t want to be in a situation where our bilateral relations, which are already in a rather pitiful state, could face even bigger and possibly unbearable risks and dangers,” Peskov told conference call on Monday. “We have concerns ...

DUBAi / Emirates Business Ahmed Mahboob Musabih, Director of Dubai Customs, received Japan’s Consul-General in Dubai Akima Umezawa, where they discussed reinforcing mutual cooperation to enhance trade and customs ties between the United Arab Emirates and Japan. Welcoming the Consul-General of Japan, Ahmed Mahboob Musabih underscored Dubai Customs’ commitment to constant coordination with Japanese diplomatic corps to boost trade between ...

Dubai / Emirates Business Dubai continues to grow in stature as a hub for regional and international associations, with organisers lauding the success of the inaugural Dubai Association Conference and emphasising the opportunities available in the emirate. The two-day event took place at Dubai World Trade Centre (DWTC) attracted over 300 delegates, including associations and industry experts, from 32 countries. It ...

Bloomberg SpaceX’s launch of a rocket carrying a batch of satellites into low-earth orbit caps a record year for the closely held company led by Elon Musk. The mission from California’s central coast was Space Exploration Technologies Corp.’s 18th this year. That’s more than any competitor and far exceeds the eight it launched in 2016 before a September explosion grounded ...

Bloomberg Best known as the maker of James Bond’s favourite car, Aston Martin is recalling more than 5,000 vehicles in the US because of a pair of problems. The Gaydon, England-based company, whose vehicles sell for more than $200,000, is recalling 3,493 DB9, DBS, Rapide, Virage and Vanquish vehicles made between 2009 and 2016 because of problems with the power ...

Bloomberg A European Union decision to treat Uber Technologies Inc. like a taxi company spotlights a trans-Atlantic divide over how governments cope with disruptive technologies and could embolden US cities to restrict the ride-sharing service. The EU Court of Justice ruled against Uber, which had argued it’s a technology platform connecting passengers with independent drivers, not a transportation company subject ...