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Bloomberg Glencore Plc Chief Executive Officer Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades. “The electric vehicle revolution is happening and its impact is likely to be felt faster than expected,” Glasenberg told investors at an industry conference in Barcelona. Almost all carmakers are increasing investm-ent ...

RIYADH / Reuters Saudi Arabia’s stock market outperformed a sluggish region on Sunday after US and Saudi companies signed over $200 billion of deals during the visit to Riyadh by President Donald Trump. Few of the deals involved listed Saudi companies, and many had been previously announced, or were merely memorandums of understanding that might never lead to concrete projects. ...

Abu Dhabi / Emirates Business Etihad Airways on Sunday announced the year-round deployment of its award-winning Airbus A380 aircraft on the Abu Dhabi to Paris route. The superjumbo, which features ‘The Residence’ – the world’s first three-room suite on a commercial airliner – will operate from July 1 on one of its twice-daily services from UAE’s capital city to the ...

Bloomberg Wal-Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at their fastest clip in at least five years. The e-commerce business saw gross merchandise volume — a measure of all the goods it sells online — soar 69 percent in the first quarter, Wal-Mart said. Total revenue climbed 1.4 percent to $117.5 ...

Bloomberg Southwest Airlines Co. may have sidestepped a scheduling headache by letting other carriers take the first deliveries of Boeing Co.’s upgraded 737 Max jetliners. The discount airline, the initial buyer of the plane, is awaiting inspection results for 10 engines on its future jets to see if the turbines have a potential manufacturing defect. But that shouldn’t delay Southwest’s ...

Bloomberg Indian central bank Deputy Governor Viral Acharya said injecting new funds into lenders won’t resolve the nation’s stressed asset plight until companies take steps to reduce debt. The Reserve Bank of India is seeking to strengthen the banking system through measures including merging weaker banks and pushing to privatize some state-run lenders as it ramps up efforts to resolve ...

Bloomberg Angela Merkel and Wolfgang Schaeuble want to install a German at the head of the European Central Bank (ECB) when Mario Draghi’s term expires in 2 1/2 years, according to Spiegel magazine. The chancellor and her finance minister are set to push for Bundesbank President Jens Weidmann to become the fourth guardian of the single currency, arguing it’s finally ...

Bloomberg When Federal Reserve Chair Janet Yellen wants to change the cost of borrowing, investors have one main rate to watch. Her Chinese counterpart Zhou Xiaochuan, who’s been juggling multiple policy levers, is trying to focus market attention on just two. The People’s Bank of China said late last week that it will now mainly use seven-day reverse-repo operations and ...

Bloomberg Barclays Plc’s former head of global spot foreign exchange trading was fined $1.2 million and banned from the banking industry for his involvement in rigging currency rates, the Federal Reserve said. The Fed said it imposed the penalties after Christopher Ashton failed to respond to the central bank’s June 2016 allegations that he participated in online chat rooms used ...

Bloomberg Australia should extend its new bank levy to foreign financial institutions in a bid to recoup more than the planned A$6.2 billion ($4.6 billion), according to cross-bench lawmaker Nick Xenophon. Applying the tax to foreign banks as well as the nation’s five biggest lenders may recoup as much as A$800 million, which could help fund compensation for victims of ...