The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

Bloomberg General Electric Co. may have to pay a little more the next time it wants to make payroll. The manufacturing giant lost the near-top credit ratings on its short-term debt. That downgrade will likely force the company to pay more to borrow in at least one credit market, namely the market for bonds known as commercial paper. GE relies ...

Bloomberg Suddenly, a no-deal Brexit is just one of the many unknowns pound traders need to contend with. Now the risk of a second referendum or even another UK election needs to be taken on board by investors. The biggest worry is still that Britain will crash out of the European Union without an economic agreement, with talks deadlocked and ...

Bloomberg Tesla Inc. shares dropped as much as 3.7 percent after the company reported third-quarter delivery and production figures that analysts described as solid, yet firmly within expectations. “Even bears expected an unusually strong third-quarter delivery result given extraordinary measures to produce, sell and deliver units,” according to Morgan Stanley analyst Adam Jonas. Tesla shares closed down 3.1 percent, after ...

Bloomberg Aston Martin’s trading debut floundered after investors balked at a valuation that had put the UK luxury carmaker on par with larger and more profitable Italian competitor Ferrari NV. The stock fell as much as 7.5 percent in London on Wednesday from its initial public offering price of 19 pounds ($24.70), a figure that gave the Gaydon, England-based company ...

As Americans become more negative about the state of their society, a number of people have tried to cheer them up by reminding them of the improvements made, both inside their society and out. The Cato Institute’s Human Progress project puts out a steady stream of data about improved living standards and social indicators in the US and around the ...

It’s been a long time since the UK was the undisputed star of the show for Tesco Plc. But Britain’s biggest retailer on Wednesday announced a step-up in domestic same-store sales growth to 2.5 percent in the second quarter of its financial year. A strong showing from the recently acquired Booker Group Plc, a British wholesaler, and an increase in ...

Automakers in the US just had a bad month. Buckle up: It’s going to get worse. Sales cratered in September. Toyota Motor Corp.’s dropped 10 percent, Honda Motor Co.’s were down 7 percent, Ford Motor Co. posted a decline of about 11 percent and Nissan Motor Co. saw deliveries fall 12 percent. A worsening US auto market should be no ...

On Monday President Donald Trump announced the end of Nafta, the trade agreement he’s repeatedly called a “disaster” for US workers, and hailed its successor, the United States-Mexico-Canada Agreement, as the greatest trade deal ever seen. As you might therefore expect, the new agreement is just a lightly tweaked version of the old. Despite the president’s theatrics, Nafta lives on. ...

On Monday, Uber returned to Dusseldorf, Germany, a city it was forced to abandon in 2015. This is a victory both for German regulators and for Uber, or rather, for its new version under Chief Executive Dara Khosrowshahi. It shows that the San Francisco-based company can actually function as a tech platform, rather than as a taxi business that pretends ...

What if everyone is wrong about Apple Inc.’s most closely watched growth business? Investors have been obsessed with what Apple calls its “services” segment — a grab bag that includes the company’s cut of iPhone app sales; the AppleCare warranty program for devices; and subscriptions for internet add-ons including Apple Music, iCloud digital file storage and perhaps soon a Netflix-like ...