Abu Dhabi's Aabar Investments on Tuesday said it will pay $280m (€196.1m) for a 32% stake in Virgin Group's commercial spaceline, Virgin Galactic, in a move that will advance the oil-rich emirate's plan to become a hub for scientific research and innovation.

The deal will see Aabar and Virgin enter into a strategic partnership to create the world's first commercial spaceline, the companies said in a joint statement.

Aabar to buy 32% stake in Virgin's commercial spaceline

Zawya Dow Jones

Northrop Grumman

Deutsche Bank’s UK MD numbers slide for the first time in four years

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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US law firm hires private equity specialist from key client

Some firm leaders have shrugged off deals as unenforceable, while at least one has taken on trade work for the administration with no fanfare.

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The vice president is the most high-profile recent American visitor to the Cotswolds, an idyll that locals say is being disrupted by too many Yanks.

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Tricks of the trade gain new importance as 401(k) accounts open up to alternative investments.

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Top executives at JPMorgan Chase traveled through states including Mississippi and Alabama, where the bank is expanding its reach.

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The U.K. central bank lowered its key rate for the fifth time in a year as it seeks to balance a pickup in inflation against a cooling jobs market.

Bank of England Cuts Rates After Tight Vote

The private-equity firm’s profit rose amid what its executives called the best environment for selling assets in years.

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The bank’s quarterly net result declined but revenue rose 13% compared with a year ago, and it reaffirmed its capital returns plans.

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A weekly call turned into a celebration of heroes as staffers comfort one another through lingering trauma.

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Big stock awards have grown much bigger for the chief executives of Palantir and Broadcom, driven by dramatic market gains and, in some cases, complex multipliers.

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The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake customer accounts.

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