Wednesday, October 12th, 2016

 

Fed’s Dudley says ‘go as far as you can’ to expand workforce

Fed’s Dudley says ‘go as far as you can’ to expand workforce

(Oct 12): Federal Reserve Bank of New York President William Dudley said the U.S. central bank should continue seeking to draw Americans back into the work force, as it debates raising interest rates.

“You certainly want to go as far as you can,” Dudley told the Business Council of New York State on Wednesday in Albany, New York. “You don’t want to keep people unemployed just because you think you’re already at the full employment rate.”

Source: The Edge Markets


France’s Hollande criticises huge U.S. fines against corporate Europe

France's Hollande criticises huge U.S. fines against corporate Europe

PARIS (Oct 12): French President Francois Hollande on Wednesday accused the United States of abusing its power by demanding multi-billion dollar fines from European companies while shielding its own firms.

In an interview, Hollande said the fines — most recently US$14 billion against Germany’s Deutsche Bank for selling toxic mortgage-backed securities in the United States — were one reason why he could not support a U.S./EU free-trade deal.

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Source: The Edge Markets


Japan protests over signs of renewed Chinese gas exploration

Japan protests over signs of renewed Chinese gas exploration

TOKYO (Oct 12): Japan has protested to China over signs it is pressing ahead with maritime gas exploration in the East China Sea despite Tokyo’s repeated requests to stop, Japan’s top government spokesman said on Wednesday.

The exploration platforms are on the Chinese side of the median line between the two countries, but Japan accuses China of ignoring a 2008 agreement to maintain cooperation on resources development in an area where no official border has been drawn.

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Source: The Edge Markets


Toyota-Suzuki dalliance marks auto industry fight for survival

TOKYO, Oct 12 — Toyota Motor Corp sees the technological revolution shaking up the auto industry as a serious enough threat to its survival that the world’s most valuable carmaker will consider partnering with one of its fiercest Japanese… Source: The Malay Mail Online


Belarus leads group of about 17 nations to block LGBT rights in U.N. cities plan -sources

Belarus leads group of about 17 nations to block LGBT rights in U.N. cities plan -sources

LONDON (Oct 12)(Thomson Reuters Foundation): A group of up to 17 countries led by Belarus has blocked a plan to include the rights of gay, lesbian and transgender communities in a new urban strategy drawn up by the United Nations, according to sources close to negotiations.

Canada, backed by the European Union, the United States and Mexico, had pushed for including the recognition of LGBT people and an acknowledgment of homophobia in a key policy paper to be finalised at a major UN conference in Ecuador next week.

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Source: The Edge Markets


AirAsia’s RM1b placement to founders may be delayed

AirAsia's RM1b placement to founders may be delayed

KUALA LUMPUR (Oct 12): AirAsia Bhd has been granted a six-month extension until April 12 next year by Bursa Securities Bhd to issue 559 million new shares to its major shareholders, Tan Sri Dr Tony Fernandes and Datuk Kamarudin Meranun.

The proposed share issuance was initially expected to be completed by the third quarter of this year.

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Source: The Edge Markets


UK’s May says lawmakers can debate Brexit process, no Article 50 vote

UK's May says lawmakers can debate Brexit process, no Article 50 vote

LONDON (Oct 12): British Prime Minister Theresa May said on Wednesday parliament would have every opportunity to debate her government’s plans to leave the European Union, but ruled out letting it vote on triggering the formal Brexit procedure.

May has been under pressure to divulge more of her plans for Britain’s exit from the bloc beyond her catchphrase that “Brexit means Brexit”, but in a lively session of parliament her government said it had little concrete to give away.

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Source: The Edge Markets


MTD ACPI, Perisai, N2N Connect, Hibiscus, Crest Builder, Zhulian, Scicom and Top Glove

MTD ACPI, Perisai, N2N Connect, Hibiscus, Crest Builder, Zhulian, Scicom and Top Glove

KUALA LUMPUR (Oct 12): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Thursday, Oct 13) could include: MTD ACPI Engineering Bhd, Perisai Petroleum Teknology Bhd, N2N Connect Bhd, Hibiscus Petroleum Bhd, Crest Builder Holdings Bhd, Zhulian Corp Bhd, Scicom (MSC) Bhd and Top Glove Corp Bhd.
 
MTD ACPI Engineering Bhd, responding to a media report that it may become a reverse takeover vehicle for a construction outfit, confirmed today that it has received several corporate proposals from various parties.

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Source: The Edge Markets


Thai king’s medical condition has “overall not yet stabilised” — palace

BANGKOK (Oct 12): The health of Thailand’s 88-year-old King Bhumibol Adulyadej, the world’s longest reigning monarch, has “overall not yet stabilised”, the palace said in a statement on Wednesday.

Earlier, the government, in a clear reference to the king’s health, urged people not to listen to rumours on social media about “situations”, saying they should await official announcements.

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Source: The Edge Markets


Wall St lower as tech, energy stocks drag

Wall St lower as tech, energy stocks drag

BENGALURU (Oct 12): U.S. stocks edged lower on Wednesday, due to losses in energy and technology shares.

Oil prices fell more than 1.3% and dragged down the S&P 500 energy index by 0.8%. Dow components Exxon Mobil and Chevron fell 0.9%.

Microsoft fell 1.3% and Cisco 2.5%, pulling down the technology index.

Five of the 11 major S&P indexes were lower.

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Source: The Edge Markets