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Dubai / WAM Emirates Central Cooling Systems Corporation (Empower), announced its participation in the ‘Cool Coalition’ initiative, to make a positive impact on climate change and inspire ambition, identify solutions and mobilise action to accelerate progress towards clean and efficient cooling. The initiative was launched by the United Nations Environment Programme (UN Environment), in collaboration with the Climate and Clean ...

Bloomberg A political brawl between British Columbia and Alberta over a stalled pipeline expansion is being blamed for handing Vancouver a somewhat dubious municipal distinction. The city recently recorded the highest retail gasoline price on record for a major North America metro, according to GasBuddy, a motor-fuel pricing website. The price hit almost $4.80 a gallon (C$1.70 a liter), a ...

Bloomberg Exxon Mobil Corp. is suing two Cuban companies for $280 million, saying they benefited for decades from Exxon property seized after 1959 revolution. The suit was filed in US District Court in Washington, the first day American corporations were allowed to file after the Trump administration lifted a long-standing ban against such actions. The complaint names gov- ernment conglomerate ...

Bloomberg Just as Petroleos Mexicanos’ bonds finally recovered from last year’s rout, a dismal earnings report sent them tumbling back down. Pemex said that its oil output declined 12 percent in the first quarter from a year ago, while its refineries operated at just 34 percent of capacity. In the next five days, yields on the company’s bonds maturing in ...

Bloomberg Agriculture Secretary Sonny Perdue wants China to be a customer of American farm products, even after Washington hiked tariffs on more than $200 billion in Chinese goods, and said retaliation by Beijing would prompt the US to boost support to its farmers. “Our biggest goal will be for China not to retaliate and stay at the table to negotiate ...

Bloomberg A unit of China Mobile Ltd said the US government should stop putting “unreasonable pressure” on Chinese companies and provide them with a non-discriminatory investment environment, pushing back after its bid to provide phone service in the US was denied. China Mobile International said the Federal Communications Commission’s (FCC) rejection after almost eight years of applications was “without apparent ...

Bloomberg Mukesh Ambani, Asia’s richest man, sealed another deal to expand his retail footprint and add heft in a battle with Amazon.com Inc and Walmart Inc in India. Reliance Brands Ltd agreed to purchase the 259-year-old British toy-store chain Hamleys from CBanner Interna tional Holdings Ltd for almost 68 million pounds ($88.5 million) in cash. The transaction would transform the ...

Bloomberg China’s top security regulator sought to ease concerns about burgeoning stock-market volatility, after the wild price swings capped the worst three-week rout for mainland equities in more than a year. The recent gyrations were due to “external factors,” but these are not the dominant elements in China’s stock-market development, said Yi Huiman, chairman of China Securities Regulatory Commission, in ...

Bloomberg Australian Prime Minister Scott Morrison committed as much as $350 million to cut costs for first-home buyers, seeking to boost his chances of re-election with his government trailing in opinion polls before an election. The government would offer guarantees to cut the required deposit for first-home buyers to 5 percent of the purchase price, instead of 20 percent, Morrison ...

Bloomberg Carlos Ghosn’s arrest threw Nissan Motor Co into a corporate tailspin with allegations of self-dealing, profligate spending and filing false statements. Now the automaker’s profits are falling off a cliff, and successor Hiroto Saikawa may go down with them. Troubled by slumping US sales, aging models and a product cycle that’s out of sync, the Yokohama-based company is on ...