UK new car sales slump ahead of Brexit ‘existential threat’

LONDON: British new car sales in 2018 fell at their fastest rate since the global financial crisis a decade ago, hit by the collapse in demand for diesel, as the industry body warned of the existential threat to the sector posed by Brexit. Registrations dropped 6.8 per cent last year to 2.37 million vehicles, the […]

California wildfire liability raise PG&E bankruptcy concerns

Sacramento, California: PG&E Corp’s shares plunged more than 18 per cent on Monday after sources said the California utility is exploring filing for bankruptcy protection as it fears a massive charge in the fourth quarter related to potential liabilities from wildfires. The utility is considering the move for some or all of its businesses, Reuters […]

Mohammad Bin Rashid approves DIFC’s new expansion plan

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said that Dubai is working towards cementing its position as a pivotal economic and commercial hub for the region in line with the Fifty-Year Charter recently announced by His Highness that aims to ensure Dubai’s […]

Japanese billionaire’s tweet goes viral, shared 4.3 million times

Billionaire Japanese tycoon and future space tourist Yusaku Maezawa said Monday his tweet promising a cash giveaway of nearly $10,000 was the most retweeted ever. The 43-year-old Maezawa posted a tweet on Saturday promising one million yen ($9,250) in cash each to 100 randomly selected followers who had retweeted it by Monday. The tweet – […]