November, 2016

• 10 November

  UK adds housing as it continues overhaul of inflation measures

  Bloomberg The UK’s chief statistician said a measure of inflation including housing will become the favored gauge of consumer prices from March. CPIH — the consumer prices index including owner-occupiers’ housing costs — will be the “preferred measure” of inflation for the Office for National Statistics. Switching to the new index will address several flaws and limitations in alternative price …

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• 10 November

  Egypt surges in record volume on signs of dollar inflows

  

    Reuters Egyptian stocks jumped in record volumes on Thursday, driven by signs that hard currency was flowing into the country after last week’s pound devaluation, while Saudi Arabia’s index extended recent gains. Egypt’s blue chip index surged 4.5 percent, bringing its gains since the currency was floated last Thursday to 25 percent. The broader EGX 100 index was up …

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• 10 November

  Stock markets extend global rally on Trump hopes

    London / AFP World stock markets rallied further on Thursday, with Tokyo surging almost seven percent, on hopes Donald Trump’s plan to kickstart the US economy will succeed following his shock presidential election victory. The dollar firmed after sliding Wednesday on worries that uncertainty over Trump’s policies would cause the Federal Reserve to hold off an interest rate rise. …

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• 10 November

  Modi hits multiple targets in surprise anti-graft move

  

  Bloomberg In a bold move against corruption and unaccounted wealth, Prime Minister Narendra Modi has acted to arrest the drift in his popularity and place constraints on election funding, which will benefit him in crucial state elections next year. But Modi’s late-night announcement of a crack down on unaccounted wealth through the withdrawal of high-denomination bank notes left Indians with …

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• 10 November

  Japan moots $6.7bn Russia gas pipe to greet Putin

    Bloomberg Japanese lawmakers are revisiting a plan to build a $6.7 billion natural gas pipeline from Russia ahead of a visit by President Vladimir Putin to the Asian country next month. A group of about 80 lawmakers from ruling parties will ask the government by the end of this month to carry out a feasibility study on the project, …

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• 10 November

  China Evergrande boosts stake in rival Vanke

  

    Bloomberg China Evergrande Group, the country’s largest property developer, increa- sed its stake in rival China Vanke Co., renewing concerns about a potential battle for control. The Guangzhou-based developer bought 161.9 million Shenzhen-listed Vanke shares between Aug. 16 to Nov. 9, Evergrande said in a filing to Hong Kong’s stock exchange after the close of trading on Wednesday, boosting …

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• 10 November

  Feud escalates as Tata steps up attack on ousted chairman

  

    Bloomberg The standoff between Tata Group’s patriarch and his estranged successor intensified in India’s biggest feud since a quarrel between the billionaire Ambani brothers broke out more than a decade ago. The Ratan Tata-led camp, which last month ousted Cyrus Mistry as chairman of the nation’s largest conglomerate, on Wednesday took steps to muscle Mistry out of the group’s …

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• 10 November

  Imax secures $50 million to create 25 VR projects

  

    Bloomberg Imax on Thursday said it has raised $50 million for a virtual reality fund, working with strategic investors to create at least 25 interactive VR content “experiences” over the next three years for the local mall and multiplex. The giant screen exhibitor is already working with tech developer Starbreeze on its VR content, using the Swedish company’s headsets …

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• 10 November

  Nintendo and Sony face off with old vs new console launches

  

    AFP Nintendo on Thursday launched a palm-sized version of its eighties era games console, setting up an old versus new showdown with rival Sony as it released a new PlayStation 4. The dual launches marked a new chapter in the battle for supremacy between Japan’s top videogame companies as they try to deal with a sharp rise in mobile …

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• 10 November

  Yahoo reveals more details about massive hack

    AFP Yahoo has provided more details about an epic hack of its services, including that the culprits may have planted software “cookies” for ongoing access to users’ accounts. In revelations that could jeopardize the company’s pending $4.8 billion acquisition by US telecom giant Verizon, the internet pioneer said it was trying to pin down when it first knew its …

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