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

Why so surprised, bank investors? Shares of two of the largest US lenders, JPMorgan Chase & Co. and Bank of America Corp., tumbled recently to their lowest levels in at least four months after executives said second-quarter trading revenue is poised to fall at least 10 percent from the same period a year ago. Rival Wall Street banks with large ...

The laptop ban is coming. Can anyone doubt it? The latest signal came on Fox News Sunday, when Chris Wallace interviewed President Donald Trump’s secretary of homeland security, John Kelly. “Are you going to ban laptops in the cabins on all international flights into and out of the US?” Wallace asked. “I might,” Kelly replied, flashing the small, satisfied smile ...

Bloomberg Apple Inc. is already in your pocket, on your desk and underneath your television. Soon, a device embossed with “Designed by Apple in California” may be on your nightstand or kitchen counter as well. The iPhone-maker has started manufacturing a long-in-the-works Siri-controlled smart speaker, according to people familiar with the matter. Apple could debut the speaker as soon as ...

Bloomberg BlackBerry Ltd. shares reached their highest price in more than two years after short-seller Citron Research said the company was a likely target for a buyout at a high premium. The stock gained 7.9 percent to $11.40 at 1:20 p.m. in New York, after earlier hitting $11.74, the highest intraday price since January 2015. Citron recommends investors buy shares, ...

Bloomberg SoftBank Group Corp. is in discussions with potential investors in Canada and the Middle East to raise $7 billion of additional capital for its technology fund, according to people familiar with the matter. The Japanese company is in talks with Canadian pension funds, sovereign wealth funds in Kuwait and Qatar and technology companies, the people said, asking not to ...

Bloomberg Cloudflare Inc. hired Symantec Corp.’s former chief financial officer to fill the same role at the network security company as it prepares for an initial public offering. Thomas Seifert will join San Francisco-based Cloudflare, according to the company. After considering about 30 candidates over a two-and-a-half year search process, Seifert was the first person Cloudflare made a formal offer ...

Bloomberg Germany’s Lufthansa is considering stretching out deliveries of Boeing’s new 777X aircraft, concerned about the cost and size of the big jet as the aviation industry shifts to smaller, more nimble planes. A decision on the new timeline is “urgent” and could be reached by September, according to an internal video presentation by Lufthansa Chief Executive Officer Carsten Spohr. ...

Bloomberg Boeing Co. is delaying the delivery of Norwegian Air Shuttle ASA’s first 737 Max jet — again. The upgraded single-aisle plane will now arrive at the end of June, the discount carrier said in an emailed statement. The delay is the second in about a month for Norwegian, which initially planned to receive its first 737 Max at the ...

Bloomberg British Airways flight attendants are threatening a strike, just days after a computer failure disrupted travel for more than 75,000 passengers and put the carrier’s cost cuts under scrutiny. Members of the Unite union plan to walk out from June 16 through June 19 after the airline suspended travel benefits for flight attendants who participated in 26 days of ...

Bloomberg Amazon.com Inc.’s shares rose briefly just above $1,000 for the first time, marking a new milestone for a company wooing investors by dominating online commerce and cloud computing. Amazon hit an intraday high of $1,001.20 in New York before ending the day little changed at $996.70. The stock is up almost 40 percent from a year ago and more ...