By Rachna Uppal ABU DHABI (Reuters) – Abu Dhabi, the capital of major oil exporter United Arab Emirates, plans to double the contribution from its industrial sector to GDP, a senior government official said on Wednesday, amid growing regional competition to diversify from oil. Last year the industrial sector’s contribution to Abu Dhabi’s gross domestic…
By Manya Saini and Laura Matthews (Reuters) -Exchange operator Nasdaq beat estimates for second-quarter profit on Wednesday on the back of consistent demand for its investment-related products and capital markets solutions such as anti-financial crime software. In recent years, the company has rejigged its business model away from market-sensitive businesses such as listing fees from…
By Ju-min Park SEOUL (Reuters) – American and South Korean guards shouted “get him” as they scrambled unsuccessfully to stop U.S. Army soldier Travis King from sprinting into North Korea, a New Zealand woman who was on the same tour to the border area said on Wednesday. “It all happened pretty quickly,” said Sarah Leslie,…
By Victoria Waldersee BERLIN (Reuters) – Tesla is planning sweeping changes to its factory near Berlin, including extensions to its battery cell production, indicating ramp-up plans remain underway despite a recent shift in focus to scaling up in the United States. A day after Tesla sought to assuage local concerns with a question-and-answer session on…
By Rajesh Kumar Singh CHICAGO (Reuters) -American Airlines’ pilot union has warned that the ratification of the company’s new contract deal is in “jeopardy” as United Airlines has raised the benchmark with its own deal, according to a union memo seen by Reuters. American pilots are due to start voting next week on a new…
By Arathy Somasekhar and Arunima Kumar (Reuters) -Halliburton Co and Baker Hughes Co on Wednesday reported results that beat analysts’ estimates for second-quarter profit, but the oilfield services firms warned of weakness in U.S. shale activity for the rest of the year. Weaker oil and gas prices have forced U.S. shale producers to cut the…
By Safiyah Riddle (Reuters) – A surge in U.S. rental home construction could soften rent prices in the months ahead, a much-awaited milestone in the Federal Reserve’s effort to tame inflation even as tightening credit conditions are beginning to take the wind out of the apartment building boom. Groundbreaking on multifamily homes that have more…
By by Ella Cao and Kevin Yao BEIJING (Reuters) -China on Wednesday pledged to make the private economy “bigger, better and stronger” with a series of policy measures designed to help private business and bolster the flagging post-pandemic recovery. Weak growth in the world’s second-largest economy has created an urgency to revive the private sector,…
BERLIN (Reuters) – Volkswagen said it remained intent on commissioning an independent audit of its Xinjiang plant in China and was convinced that doing so would provide valuable insight, after some investors and activists criticised the mechanism as ineffective. The United Nations and rights groups estimate that more than a million people, mainly Uyghurs and…
(Reuters) -Shares of AT&T rose 6.4% on Wednesday after the telecom company said lead cables made up only a small part of its wireline network, easing fears of an expensive clean-up. Rival Verizon also rose by a similar margin, helping the companies rebound from a selloff sparked by a Wall Street Journal report on July…
