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Bloomberg China’s official manufacturing gauge held up in May, buoyed by an improving global outlook. Manufacturing purchasing managers index remained at 51.2 for a second straight month in May, compared with a median estimate of 51 in a Bloomberg survey of economists. Non-manufacturing PMI rose to 54.5 Numbers higher than 50 indicate improving conditions. While some early indicators for May ...

Bloomberg Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery. Industrial production increased 4.0 percent (forecast +4.2 percent) in April from March, when it fell 1.9 percent. Industrial production index rose to 103.8 in April, the highest level since October 2008. Output is forecast to fall 2.5 ...

Bloomberg Levandowski joined the ride-hailing startup in 2016 after several years at Google’s autonomous driving project, which is now called Waymo. In February, Waymo sued Uber alleging that Levandowski stole trade secrets and patents from Waymo for the development of self-driving technology and brought them to Uber. Levandowski has invoked his Fifth Amendment right not to testify in the case, ...

Bloomberg The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the UK prepares to exit the bloc. “We’re in contact with five large ship-insurance brokers who are considering various EU member countries for the transfer of their headquarters,” Shipping Minister Panagiotis Kouroumblis said in an interview in ...

Bloomberg UK mortgage approvals fell to a seven-month low in a sign the housing market is slowing, though Britons are continuing to take advantage of low interest rates to take on unsecured debt. Lenders approved 64,645 home loans in April, the fewest since September and below the median forecast in a Bloomberg survey. Mortgage lending grew 2.7 billion pounds, the ...

Dubai / Emirates Business FinTech Hive at DIFC, the region’s first FinTech accelerator launched by Dubai International Financial Centre (DIFC) earlier this year, received over 100 applications from more than 32 countries for its inaugural programme. The majority of applications have come from the UAE, the UK, the US, India, Nigeria and Singapore, and cover a range of concepts including ...

Abu Dhabi / WAM In its latest Global Investment Outlook presentation, Abu Dhabi Islamic Bank (ADIB), suggested that investors should consider taking an “overweight” position on GCC and European equities as well as the Japanese yen. “Reaching out to our customers and offering them our unique insights into the global investment landscape is central to our mission as trusted financial ...

Abu Dhabi / WAM Etihad Airways on Tuesday announced plans to boost its European Dreamliner network with the deployment of Boeing 787-9 aircraft to Amsterdam and Madrid. The 299-seat Dreamliners will be introduced on year-round scheduled services to Amsterdam from September 1, and to Madrid from October 1, joining Dusseldorf and Zurich as the airline’s other European Dreamliner services. The ...

Bloomberg Noble Group Ltd. is seeking a strategic investor to drag the beleaguered commodities trader out of what it calls an “incredibly difficult environment.” The company’s market value has shriveled by more than $1 billion this year as the Hong Kong-based firm reported a first quarter loss, S&P Global Ratings flagged a risk of default and Fitch Ratings Ltd. cut ...

Bloomberg Japan’s jobless rate remained at the lowest in more than two decades last month, and retail sales rose from March, climbing for a fourth month. Highlights of Data Retail sales rose 1.4 percent from March, and were up 3.2 percent compared to April last year. The unemployment rate for April was 2.8 percent, the same as the forecast. Household ...