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

Bloomberg President Donald Trump vowed to rid the Justice Department and FBI of “bad” people, echoing previous criticism he’s made that the law enforcement agencies he controls are tainted by political bias. “Just look at what is now being exposed in our Department of Justice and FBI,” Trump said at a rally in Springfield, Missouri. He told his audience that ...

Bloomberg British Prime Minister Theresa May struck back at the European Union for bluntly dismissing her Brexit plan with a speech designed to shore up her increasingly precarious position at home. May told EU leaders that she wouldn’t back down and demanded they show “respect” to her country during talks. Rather than giving her a boost, a summit of EU ...

Bloomberg Another week, another coalition crisis for Angela Merkel. Just days after Germany’s chancellor said her government had a deal to remove the domestic intelligence chief over his stance on anti-migrant protests, the accord fell apart Friday in a renewed sign of political fragility in Europe’s biggest economy. Merkel said she’ll find a new solution this weekend. The case of ...

Bloomberg A lawyer for the woman who accuses Supreme Court nominee Brett Kavanaugh of an assault sought another day to agree on conditions for her testimony before the Senate Judiciary Committee in a high-stakes hearing and assailed panel Republicans over “aggressive and artificial deadlines”. Judiciary Chairman Chuck Grassley threatened that his panel would vote on Kavanaugh’s nomination on Monday unless ...

Bloomberg Floodwaters have overwhelmed an ash basin at a Duke Energy Corp. power plant in North Carolina, spilling a byproduct of burning coal into the Cape Fear River. The company said coal ash at the site “remains in place” but that tiny beads called cenospheres are flowing into the river. The hollow beads, left over from burning coal, are comprised ...

Bloomberg Fieldwood Energy, an offshore oil and gas explorer that emerged from bankruptcy in April, is weighing an initial public offering, according to people familiar with the matter. The Houston, Texas-based company is exploring filing a public offering in early 2019 that could value the company at more than $5 billion, said one the people, who asked to not be ...

Bloomberg North Carolina’s solar farms took a beating from Hurricane Florence and many of the power plants remain out of service, a week after the storm slammed into the second-biggest US market. About one-third of the 3,000 megawatts of solar capacity connected to Duke Energy Corp.’s system went down initially, according to Randy Wheeless, a utility spokesman. Almost 600 megawatts ...

Bloomberg The venture capitalists of China are starting to get nervous. Venture investments have driven a boom in technology startups over the past five years, but funding has started to slow in recent months. Now the government is floating new tax policies that could hammer investors, persuading some to pull back on cutting deals until they get more clarity. The ...

Bloomberg Property developers are cutting prices in Hong Kong to lure buyers amid the increasing downside risks in the world’s least-affordable housing market. Vanke Property Overseas Ltd. released 231 units of its new project Le Point in Tuen Mun, with prices as low as HK$9,878 ($1,265) per square foot, the lowest in the primary new-home market in about two years, ...

Bloomberg The contrast between Apple Inc.’s ascension to a $1 trillion stock and the share performance of its biggest iPhone assembler just got even starker. Hon Hai Precision Industry Co. has surrendered its position as Taiwan’s second-biggest stock after six years. Concern is mounting for some Taiwanese Apple suppliers, which are struggling to adjust to a new dynamic of higher-priced ...