Wednesday, October 26th, 2016

 

US new home sales rise in September; prior month revised down

US new home sales rise in September; prior month revised down

WASHINGTON (Oct 26): New US single-family home sales unexpectedly rose in September, pointing to sustained demand for housing even as data for August was revised sharply lower.

The Commerce Department said on Wednesday new home sales increased 3.1% to a seasonally adjusted annual rate of 593,000 units last month, pulling them close to a nine-year high touched in July.

August’s sales pace was slashed to 575,000 units from the previously reported 609,000 units.

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Source: The Edge Markets


Wall St pares losses on oil recovery; Apple still top drag

NEW YORK, Oct 26 — Wall Street was lower this morning as Apple’s weak results weighed on technology stocks but a sharp recovery in oil prices limited some losses. Shares of the world’s most valuable public company fell 3.7 per cent — set… Source: The Malay Mail Online


France’s CMA CGM says more casualties possible in container shipping shakeout

COPENHAGEN (Oct 26): Other container shipping firms may join Hanjin Shipping Co Ltd in receivership before the industry emerges from its current shakeout, the vice chairman of world number three player CMA CGM said on Wednesday.

South Korea’s Hanjin filed for protection from creditors in late August, stranding US$14 billion in cargo and sending shockwaves through global trade networks.

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Source: The Edge Markets


Man U greats to bring football cafes, hotels to Asia

SINGAPORE, Oct 26 — Manchester United greats Ryan Giggs and Gary Neville have teamed up with a Singaporean billionaire to open football-themed cafes and hotels in Asia, a spokesperson for the tycoon said today. The two sportsmen and Peter Lim,… Source: The Malay Mail Online


Microsoft Corp announces 3D features for new Windows update

Microsoft Corp announces 3D features for new Windows update

NEW YORK (Oct 26): Microsoft Corp on Wednesday announced a free update to its Windows operating system that lets users take photos and edit content in three dimensions, in a bid to raise excitement for its declining computing business.

The Windows 10 Creators Update, coming in early 2017, lets users on mobile devices take three-dimensional photos by scanning an object as they walk around it. It also allows for 3D graphics in Microsoft’s popular PowerPoint presentation software, and a new “Paint 3D” application lets people edit photos and other designs in three dimensions.

Source: The Edge Markets


Earthquake measuring 5.8 magnitude shakes Turkmenistan

Earthquake measuring 5.8 magnitude shakes Turkmenistan

LONDON (Oct 26): An earthquake measuring 5.8 magnitude shook Turkmenistan on Wednesday, 11 km east of Balakabat near the Caspian Sea, the U.S. Geological Survey (USGS) said.

The quake struck at a depth of 28 km (17 miles).

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Source: The Edge Markets


Oil under US$50, Brent near month-low before U.S. inventory data

Oil under US$50, Brent near month-low before U.S. inventory data

NEW YORK/LONDON/SINGAPORE (Oct 26): Oil prices fell below US$50 a barrel on Wednesday, with Brent dropping to a near one-month low ahead of official data that could show a U.S. crude inventory build amid skepticism over OPEC’s planned output cut.

The U.S. Energy Information Administration (EIA) will report crude stockpiles and other oil supply-demand data for last week at 10:30 a.m. EDT (1430 GMT).

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Source: The Edge Markets


Malaysia’s economic resilience spurred by ETP, GTP, says Mustapa

KUALA LUMPUR, Oct 26 — The Malaysian economy has shown resilience amid global economic uncertainty, on the back of successful implementation of the Government Transformation Programme and Economic Transformation Programme. International Trade… Source: The Malay Mail Online


Women will have to wait another 170 years to close gender gap

Women will have to wait another 170 years to close gender gap

(Oct 26): Women are going to get pay equality — they’ll just have to wait for another 170 years.

That’s according to an estimate by the World Economic Forum assessing gender gaps when it comes to economic opportunities, political empowerment, education and health between men and women.

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Source: The Edge Markets


Stocks fall as Apple adds to earnings queasiness; oil retreats

FRANKFURT, Oct 26 — A barrage of earnings from bellwethers including Lloyds Banking Group Plc and Apple Inc. left stocks lower around the world, with weaker crude prices doing little to help equities’ cause. The Stoxx Europe 600 Index headed… Source: The Malay Mail Online