Foreign Business

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NEW YORK: Wall Street frowned on earnings Friday from Procter & Gamble that showed continued sluggishness in overall sales and another drop in grooming due to anemic US demand for shaving products. The earnings, the first since the consumer products giant claimed a narrow win over activist Nelson Peltz in…

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CARACAS: Inside a locked room in an office building in Caracas, 20 humming computers use their data-crunching power to mine bitcoins, an increasingly popular tool in the fight against Venezuela’s hyperinflation. In warehouses, offices and homes, miners are using modified computers to perform complex computations, essentially book-keeping for digital transactions…

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WASHIN GTON: Claims for US jobless benefits fell to a 44-year low in early October as labor markets recovered from the damage of Hurricanes Harvey and Irma, government data showed Thursday. The new figures pointed to strong October job creation as the data were collected during the survey week for…

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SYDNEY: The last car rolled off the production line of Australian automaker Holden on Friday, marking the demise of a national industry unable to stand up to global competition. The closure of the Elizabeth plant in South Australia is the end of an era for Holden, which first started in…

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FRANKFURT AM MAIN: German industrial conglomerate Siemens plans to slash thousands of jobs in its power and gas division hit by a drop in orders, a German magazine report said Thursday. The group intends to “close or sell” up to 11 of the unit’s 23 sites around the world, according…

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TOKYO: Like every day for the past 40 years, Kunihiko Kato dusts down the shelves at his electrical goods shop and meticulously lays out his selection of batteries. But the customers have long since gone as Japan’s economy languishes. “We used to sell a lot of TVs, but now…” tails…

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BEIJING: China’s economy slowed marginally in the third quarter but is well on course to beat the government’s annual target, cementing President Xi Jinping’s standing as he prepares to be handed a second term in power at a Communist Party conclave. The world’s number two economy expanded 6.8 percent in…

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TOKYO: Tokyo’s benchmark index rose Thursday to post its longest string of gains in nearly 30 years, as corporate earnings get into full swing and voters in the world’s number-three economy head to the polls this weekend. The Nikkei 225 gained 0.40 percent, or 85.47 points, to close at 21,448.52,…

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PARIS: The computer that stunned humanity by beating the best mortal players at a strategy board game requiring “intuition” has become even smarter, its makers said Wednesday. Even more startling, the updated version of AlphaGo is entirely self-taught — a major step towards the rise of machines that achieve superhuman…

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NEW YORK: NBCUniversal and Snap Inc announced Tuesday a joint venture to produce original scripted shows for Snapchat, the social network popular with young audiences. The two firms will hold equal stakes in a new digital content studio to be based in Santa Monica, California, that will make “made-for-mobile programming…

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