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Singapore’s exports surge
SINGAPORE: Singapore’s exports rose the most in 2-1/2 years in October, well over double expectations as surging sales to China helped more than recoup a decline the month before in a boost to the trade-dependent economy. The affluent city state has benefited this year from an upturn in global demand, stoking a welcome recovery in its manufacturing sector after a prolonged period of sluggishness. Non-oil domestic exports (NDOX)
 
 
Wal-Mart Q3 sales beat estimates in US
CHICAGO: Wal-Mart Stores reported better-than-expected US comparable sales, as customers stocked up on food and other supplies ahead of hurricanes and online purchases soared, sending its shares up more than 8.5 per cent. The third quarter marked Wal-Mart’s strongest US sales growth since 2009 despite sluggish demand and competition from Amazon.com that has hurt brick-and-mortar rivals. The retailer has notched more than three
   
Vivendi misses Q3 earning projections, rules out Ubisoft takeover
LONDON/PARIS: Acquisitive French media conglomerate Vivendi missed analysts’ projections in third-quarter earnings and ruled out a hostile takeover of Ubisoft for the next six months after the video games maker beat forecasts, pushing its shares to a record high. Vivendi however kept its 2017 outlook for revenue to increase more than 5 per cent and for a rise of around 25 per cent in its EBITA, prior to its integration of the
 
 
Toshiba denies reports on sale of personal computer unit
TOKYO: Toshiba Corporation said on Friday it had not entered into talks with any company to sell its personal computer (PC) business, denying media reports that it was in negotiations to sell the unit to Taiwan’s Asustek Computer. China’s Lenovo Group has also expressed interest in the PC unit, the Nikkei business daily reported. Cash-strapped Toshiba had said that it was looking to sell the PC business, a small part of the
   
UK builder Carillion issues third profit warning
LONDON: British builder Carillion issued its third profit warning of the year on Friday, saying it was at risk of breaching year-end financial covenants and would need to recapitalise. The construction and support services provider said it needed to delay its financial covenants dates until April 30 and was talking to stakeholders. “This will require some form of recapitalisation, which could involve a restructuring of the
 
 
Applied Materials posts strong results
CALIFORNIA: Applied Materials reported better-than-expected quarterly results and gave a strong current-quarter forecast as the world’s largest supplier of tools to make semiconductors enjoys strong demand in its chip and display businesses. The company’s shares were up about 1 per cent in trading after the bell on Thursday, reversing course from a drop of nearly 2 per cent immediately after the results were released. Applied
   
Cruise company won’t refund customers after FEMA takes over ship
Native-born Montanan Mindy Bausch thought the cruise she booked after a random political survey call might be the ticket to getting her nature-loving husband out of Montana and to the Bahamas for a warm Caribbean vacation. “We don’t travel,” she explained via email. “My husband’s idea of a vacation is sleeping in a tent in 20 degree temperatures... which I have done more than once.” What Bausch didn’t know at the time was that
 
 
Venture fund wants to help solve middle-class problems
Los Angeles: Silicon Valley investors love to fund companies that solve problems. But the startups that get funded aren’t always the ones tackling issues that are most pressing to the average American. Venture capital firm and startup incubator Kairos wants to change that with a $25 million fund announced on Thursday. Rather than backing companies that build products for the financially comfortable, it will fund companies
   
Brick-and-mortar shops express concern over sidewalk vendors
LOS ANGELES: When pushcart vendors try to set up shop in front of East Hollywood gas station, Jacques Massachi tells them to leave. “I don’t allow them. I just don’t allow them,” Massachi said. The sidewalk sellers can end up obstructing traffic in and out of the gas station, he complained. And if they hawk hot dogs, ice cream or anything else sold at his Ampm store, he sees them as rivals. If someone can walk up and buy a hot
 
 
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