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Xiaomi goes upmarket to arrest sales slide

  Bloomberg Xiaomi Corp., once the biggest smartphone vendor in China, unveiled its most expensive handsets as it seeks to recapture sales with a push into high-end devices. The Mi Note 2, sporting a curved screen similar to Samsung’s Galaxy Edge, sells for as much as 3,499 yuan ($516), co-founder Lei Jun said in Beijing Tuesday. It also showed off ...

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Ratan Tata vows ‘stability’ after shock sacking

  AFP Family patriarch Ratan Tata sought to reassure rattled investors of stability at India’s biggest conglomerate Tuesday after the sudden sacking of chairman Cyrus Mistry sent Tata company shares falling. Seventy-eight-year old Tata has taken interim charge of the sprawling $100 billion tea-to-steel Tata Group, after Mistry was abruptly dumped on Monday evening, four years after being appointed chairman. ...

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German economy to pick up as business confidence improves

  Bloomberg Germany’s economy is on track for more robust growth. Business confidence rose to the highest level in more than two years in October, the Munich-based Ifo institute said on Tuesday. This adds to signs of renewed growth momentum in Europe’s largest economy, after uncertainty related to the U.K.’s vote to leave the European Union contributed to a temporary ...

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Moscow airport mulls $865mn expansion

  Bloomberg Moscow’s Sheremetyevo airport, the largest in Russia, has invested $865 million into building a new terminal and expanding its operations ahead of the 2018 World Cup, its chief executive said on Tuesday. “We can say with certainty that the construction is moving along according to our deadlines and ahead of schedule in certain cases,” Sheremetyevo’s CEO Mikhail Vasilenko ...

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Anglo boosts diamond, iron-ore production

  Bloomberg Anglo American Plc said diamond production rose in the third quarter, as the industry continued to rebound. The company maintained full-year forecasts for most of the commodities it produces, while saying its Kolomela iron-ore mine will marginally exceed its goal. Third-quarter output of the gems climbed 4 percent to 6.3 million carats from 6 million carats a year ...

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EU-Canada trade deal in limbo as Belgium withholds consent

  Bloomberg Europe’s ability to sign trade deals with the rest of the world was thrown into doubt after Belgium’s government said it had failed to persuade its regional parliaments to sign up to a proposed pact between the European Union and Canada. Despite weeks of talks, Belgium Prime Minister Charles Michel said he hadn’t convinced the Socialist-controlled, French-speaking region ...

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Global stocks mostly rise on upbeat economic data

  SEOUL / AP Global stocks mostly rose on Tuesday amid upbeat economic reports and relatively strong corporate earnings. KEEPING SCORE: Britain’s FTSE 100 added 0.4 percent to 7,015 while France’s CAC 40 gained 0.1 percent to 4,555. Germany’s DAX rose 0.3 percent to 10,795. Stock futures showed that Wall Street was set for a tepid start. Dow and S&P ...

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Banking shares buoy Saudi; EFG Hermes gains on US expansion

  Reuters Banking shares boosted Saudi Arabia’s stock market on Tuesday while the majority of other Gulf markets sagged on uninspiring quarterly results. Egypt recovered sightly, but investors remain anxious over dollar shortage woes. The Saudi stock market index gained 1.5 percent, its fifth consecutive session of gains as all 12 of the listed lenders advanced. Bank Aljazira was the ...

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Big tech-media mergers raise privacy concerns

  Washington / AFP They know how you browse the internet, your favorite TV shows and where you shop and travel. Data collected by internet and media companies is a powerful tool, and the big mergers planned by AT&T with Time Warner and Verizon with Yahoo offer those firms more data that can be used to target consumers with content ...

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