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Tencent Q3 revenue continues climb but profit drops

BEIJING, Nov 13 —  Chinese internet giant Tencent said today its net profit fell 13 per cent in the third quarter even as the company’s revenues continue to climb out of a slump caused by a government crackdown on online gaming. The…


UK shares dip as Trump fails to soothe trade nerves

LONDON, Nov 13 — UK bluechip stocks retreated today as traders grew weary of mixed signals from US President Donald Trump about the progress of trade talks with China, while Tullow Oil slid after slashing production targets. The FTSE 100 index,…


European shares fall on Hong Kong unrest, Trump’s disappointing trade comments

LONDON, Nov 13 — European shares retreated from four-year highs today, as a highly anticipated speech by US President Donald Trump gave no new clues on the progress of a trade deal with China, and as anti-government protests in Hong Kong raged on,…


China retail giant Alibaba given OK for huge Hong Kong listing

HONG KONG, Nov 13 — Chinese online retail titan Alibaba has been given the go-ahead to list shares in Hong Kong, reports said today, in what could be the city’s biggest IPO in almost a decade. Approval for the sale will also give the city’s…


Google healthcare data move makes some queasy

SAN FRANCISCO: Google on Tuesday defended a project aimed at modernizing healthcare while giving it access to medical data of millions of people.

Reports that Google was amassing medical data prompted a blog post by the Internet giant revealing a project code-named “Nightingale,” evidently in tribute to Florence Nightingale whose nursing work during the Crimean War in the 1850s is credited with turning such work into a profession.

The news also caused the US Office for Civil Rights in the Department of Health and Human Services to launch an inquiry to make sure Google was obeying laws regarding keeping people’s medical information private, according to the Wall Street Journal.

Google has made no secret of its collaboration with health care providers on computing tools to improve patient care.

In the post Tuesday, Google released information about a collaboration with US health systems non-profit Ascension that includes moving data and analytics to a private, secure cloud hosted by the internet firm.

Ascension could also use Google computing tools to allow employees to communicate and collaborate securely in real time from different sites, according to the post by Google cloud industry products and solutions president Tariq Shaukat.

“All of Google’s work with Ascension adheres to industry-wide regulations regarding patient data, and come with strict guidance on data privacy, security and usage,” Shaukat said.

“To be clear: under this arrangement, Ascension’s data cannot be used for any other purpose than for providing these services we’re offering under the agreement, and patient data cannot and will not be combined with any Google consumer data.”

The internet colossus disclosed little about what it is testing in Project Nightingale as it competes to be the preferred platform for patients and care providers.

“It is a shame that the rush of distrust is hitting this one for Google,” said analyst Rob Enderle of Enderle Group.

“This is actually them trying to do something good. Project Nightingale is, for the most part, intended to improve the quality of healthcare.”

Google’s cloud team works with dozens of healthcare service providers on technology to analyze medical data and make it readily available to patients and those treating them, according to the company.

“Google is really doubling-down on healthcare,” said Wedbush Research managing director Daniel Ives.

“Health care is really the next frontier that Google, Amazon, IBM, Apple and others are going after.” – AFP


Bursa Malaysia erases Tuesday’s gains after Trump threatens new tariff on China

KUALA LUMPUR: Bursa Malaysia erased yesterday’s gains to open flat on Wednesday after US President Donald Trump threatened more tariffs on China if a trade deal does not materialise, casting doubts over the ongoing trade negotiations.

At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.65 points to 1,608.08 against Tuesday’s close of 1,609.73.

At the opening bell, the key index opened 1.15 points higher at 1,610.88.

On the broader market, gainers were slightly above losers 114 to 106, with 195 counters unchanged, 1,586 untraded and 19 others suspended.

Turnover amounted to 111.72 million shares worth RM39.85 million.

During his speech to the Economic Club of New York, Trump said the US will hike tariffs on Chinese goods if an agreement is not reached, stoking more uncertainty to the already nervous global market.

However, Malacca Securities Sdn Bhd still think that the continuing institutional support will keep the local key index afloat for a longer period with bouts of intraday profit-taking remaining a feature for now.

“The lower liners and broader market shares are staying mixed with the trend set to continue for now amid the continuing toppish technical indicators.

“Just like the heavyweights, we still think that there will be continuing intraday consolidation on many of the stocks as they also continue to adjust from overbought that will also see the choppy trend remaining for now,” it said.

Of the heavyweights, Maybank fell one sen to RM8.78, Tenaga was flat at RM13.68, Public Bank slipped six sen to RM19.92 while CIMB was one sen better at RM5.30.

As for the top gainers, Cycle & Carriage Bintang jumped 44 sen to RM2.11, Batu Kawan added 10 sen to RM15.50 and UWC improved eight sen to RM2.89.

Of the actives, Iris and Trive Property were flat each at 14 sen and 1.5 sen respectively, while Prestariang eased two sen to 46.5 sen.

The FBM Emas Index slipped 10.49 points to 11,390.51, the FBMT 100 Index weakened 12.22 points to 11,201.40 and the FBM Emas Shariah Index erased 6.61 points to 11,933.14.

The FBM Ace rose 23.53 points to 4,907.03 but the FBM 70 was 18.51 points weaker at 14,119.44.

Sector-wise, the Financial Services Index declined 11.28 points to 15,690.63, the Plantation Index gave up 4.87 points to 6,963.82 while the Industrial Products & Services Index went up 0.02 point to 156.40.

The physical price of gold as at 5pm stood at RM188.30 per gramme, up RM1.28 from RM187.02 at 5pm yesterday. — Bernama


Ringgit opens weaker against US dollar on disappointing economic data

KUALA LUMPUR, Nov 13 — The ringgit opened weaker against the US dollar today after yesterday’s released of a disappointing economic data, casting doubt on the country’s economic growth momentum, dealers said. At 9.15am, the ringgit was quoted…


Bursa Malaysia opens flat after Trump threatens new tariff on China

KUALA LUMPUR, Nov 13 — Bursa Malaysia erased yesterday’s gains to open flat today after US President Donald Trump threatened more tariff on China if a trade deal does not materialise, casting doubts over the ongoing trade negotiations. At 9am,…


Asian stocks fall on fears US-China trade stalling

TOKYO, Nov 13 — Asian stocks and Wall Street futures fell today on growing worries US-China trade talks are stalling after President Donald Trump failed to deliver any new information about when the two countries would sign a trade deal. MSCI’s…


BRICS nations to study adding countries to development bank

BRASILIA, Nov 13 — Leaders of the BRICS group of leading emerging economy nations meeting this week will discuss opening their development bank to other countries to increase its capital to fund infrastructure and other projects, diplomats and the…