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Bloomberg Microsoft Corp shareholders voted against a proposal calling for the company to report more information on gaps in employee pay, ranked according to gender and race. Less than 30% of shares represented voted in favour of the measure at Microsoft’s annual meeting. Arjuna Capital, which praised progress the company has made, tabled a measure calling for it to give ...

Bloomberg Arpita Chaudhary, a newly recruited police constable in India’s western Gujarat state, became an overnight celebrity after posting a clip of her 15-second gambol — clad in her civvies — on the smash-hit social video app, TikTok. Then she paid the price. A snippet of her gyrating to a Bollywood song against the backdrop of a prison cell went ...

Bloomberg Goldman Sachs Group Inc could end up paying less than $2 billion to resolve US criminal and regulatory probes over its role in raising money for scandal-ridden Malaysian investment fund 1MDB, said three people familiar with the negotiations. The justice department and other federal agencies, in internal discussions held in recent weeks, have weighed seeking penalties between $1.5 billion ...

Bloomberg Deutsche Bank AG was given a small fine as a result of a case that led to a big raid on its headquarters a year ago. Frankfurt prosecutors completed their probe in a case of suspected money laundering and ordered the lender to pay 15 million euros ($16.6 million) for failing to flag suspicious transactions in time and lacking ...

Bloomberg The International Monetary Fund (IMF) said the Democratic Republic of Congo’s proposed $10.2 billion budget is “unrealistic,” amid slowing output from the country’s copper and cobalt mines. The government is seeking a budget of 16.9 trillion francs ($10.2 billion) next year, with revenue expected to climb 63% compared to this year. The IMF projects that Congo’s actual revenue this ...

Bloomberg Citigroup Inc’s private bank wants its clients to work on an attitude adjustment. Next year will be “brighter than many expect,” Citi Private Bank said in its 2020 outlook “Staying Positive in a Negative (Yielding) World”. It rejects the idea that a recession is imminent. “The point of view of many family clients I meet is one of a ...

Bloomberg The Bank of Japan (BOJ) will consider downgrading its assessment on factory output at its rate review this month from its view in October, Reuters reported, citing unidentified people. October output was “weak,” with the key worry being the impact of sluggish automobile demand, Reuters cited one person with direct knowledge of the matter as saying. Two other unidentified ...

Bloomberg The European Central Bank is done with cutting interest rates despite persistent downside risks to growth, according to a Bloomberg survey of economists. With officials increasingly concerned about the impact of negative rates and President Christine Lagarde about to announce a strategic review, most respondents said monetary policy is on autopilot for the next two years. That’s a turnaround ...

Bloomberg Saab AB wants control of local manufacturing in India if it beats the likes of Boeing Co. and Lockheed Martin Corp. in the race for the world’s biggest warplane contract. The Swedish manufacturer is in the running to supply 114 Gripen fighters in a deal valued at more than $15 billion as Prime Minister Narendra Modi seeks to modernise ...

Dubai / Emirates Business The festive spirit is in full swing as Emirates prepares to serve 500,000 Christmas meals across all classes to customers travelling on select flights from December 9 to 31. In addition to a delicious festive menu, travellers can also enjoy nostalgic films and holiday treats across all cabin classes on board and on the ground. Emirates ...