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US STOCKS-Futures flat with Fed chair pick, tax bill in focus

Thursday, November 2 2017

US STOCKS-Futures flat with Fed chair pick, tax bill in focus

US STOCKS-Futures flat with Fed chair pick, tax bill in focus US STOCKS-Futures flat with Fed chair pick, tax bill in focus Source : 17:00 hrs * Futures off: Dow 7 pts, S&P 1.5 pts, Nasdaq 1.75 pts By Sruthi Shankar and Tanya Agrawal Nov 2 (Reuters) - U.S. stock index futures were flat on Thursday as investors held off from making big bets ahead of President Donald Trump's decision on the next Federal Reserve chair and the unveiling of a long-awaited tax reform bill. * Trump is widely expected to nominate Fed Governor Jerome Powell from a list of five finalists that included current Fed Chair Janet Yellen, Stanford University economist John Taylor, former Fed Governor Kevin Warsh and White House economic adviser Gary Cohn. * Powell, 64, has broadly supported Yellen's monetary policy, and in recent years has shared her concern that low inflation justified continuing with a cautious approach to raising interest rates. * Trump will announce his choice at 3:00 p.m. ET (1900 GMT) at the White House, according to his public schedule. * The Fed kept interest rates unchanged on Wednesday, but gave encouraging comments about the economy, signaling it was on track to lift borrowing costs again in December. * Central banks around the world are inching toward a tighter monetary policy. The latest is the Bank of England, which is expected to raise rates for the first time in a decade. * Investors will also look to the unveiling of a tax reform bill. After a one-day postponement, Republicans have made plans for a measure that will seek up to $6 trillion in tax cuts over 10 years but will likely not spell out completely how to offset them. * Among economic data, a report on weekly jobless claims numbers is likely to have increased by 2,000 from 233,000 for the week ended Oct. 21. The data is expected at 8:30 a.m. ET. * With nearly three-quarter of earnings season completed, earnings have come in largely positive. Technology has been the best performing sector, with 90 percent of the S&P tech companies beating profit expectations, the best among all S&P sectors. * Apple, the last big technology company to report, is scheduled to release its report after the bell. * Tesla dipped 5.7 percent after the electric car maker pushed back its target for volume production on its new Model 3 sedan by about three months, and reported its biggest quarterly loss ever. * FireEye tanked nearly 13 percent after the cybersecurity firm flagged loss for the fourth quarter hurt by shorter contract lengths. Futures snapshot at 7:12 a.m. ET: * Dow e-minis were down 7 points, or 0.03 percent, with 22,546 contracts changing hands. * S&P 500 e-minis were down 1.5 points, or 0.06 percent, with 131,282 contracts traded. * Nasdaq 100 e-minis were down 1.75 points, or 0.03 percent, on volume of 30,724 contracts. (Reporting by Sruthi Shankar and Tanya Agrawal; Editing by Sriraj Kalluvila) SEARCH

BoE set for hike, Fed to get new head, trillion-dollar Apple?

Thursday, November 2 2017

BoE set for hike, Fed to get new head, trillion-dollar Apple?

BoE set for hike, Fed to get new head, trillion-dollar Apple? BoE set for hike, Fed to get new head, trillion-dollar Apple? Source : 17:05 hrs By Marc Jones LONDON (Reuters) - Traders were bracing on Thursday for landmark events including the Bank of England's first rate hike since 2007 and the unveiling of a new Fed chief as well as results from Apple as it looks to become the world's first $1 trillion company. The British central bank is widely expected to announce a 25 basis point rise in interest rates from record lows at 1200 GMT, even though economic growth appears weaker than before any increase in borrowing costs in the past 20 years. With a hike largely priced in, sterling was barely changed against a marginally weaker dollar. European government bond yields inched up while stocks in the region edged back after hitting two-year highs on Wednesday. "The interesting thing about the BoE is the vote and the size of the majority, and secondly the context around that which we will get from the inflation report," said JPMorgan Asset Management's International CIO of fixed income Nick Gartside. "What those two things will point to is whether it is a one-off move or is indeed the start of a mini-hiking cycle. Our sense at the moment is that it is the start of a mini-hiking cycle." The dollar meanwhile gave up some of the gains that have lifted it to a 3-1/2 month high this week. The Federal Reserve bolstered bets on a third U.S. rate hike of the year on Wednesday, but the focus is now on delayed tax cut plans due later and Donald Trump's expected nomination of Jerome Powell to replace Janet Yellen to lead the central bank. Powell is a current policymaker and is seen by Fed followers as a Yellen-style pragmatist and less likely to jack up interest rates than some of the other candidates rumoured to have been in the running. The dollar index, which tracks the greenback against a basket of six major rivals, slipped 0.2 percent to 94.533 as it pulled back 0.3 percent against the yen to 113.89 and $1.1655 per euro. Rising interest rates were also in focus in central Europe where the world's best performing mainstream currency -- the Czech crown -- was awaiting what is expected to be the second hike there in four months. Having had a currency peg removed earlier in the year, the crown is up more than 16 percent against the dollar in 2017 and at a four-year high against the euro. APPLE EYED Results due later from tech titan Apple were also in focus for stocks traders who have seen MSCI's 47-country 'All World' index notch its latest batch of record highs this week. Apple Chief Executive Tim Cook quashed concerns recently about muted demand for the iPhone X, which is due for release on Friday, saying pre-orders for the 10th anniversary smartphone were "off the charts", but analysts will watching closely. Expectations that many users are on the verge of upgrading from older iPhones have also sent Apple's stock to record highs, pushing it closer to becoming the first publicly listed company with a stock market value above $1 trillion. "Apple is taking the iPhone franchise to a whole new level with the iPhone X, pushing the company deep into the ultra-luxury smartphone market," Drexel Hamilton analyst Brian White wrote in a note to clients. Commodities appear to be back in boom mode although crude oil futures which have roared higher over the last month dipped for a second day, with Brent crude down 10 cents at $60.56 per barrel and U.S. crude down 1 cent at $54.29. Metals traders were also locking in profits, having seen the likes of copper and nickel surge to a two-year high and aluminium to a more than five-year high this week. (Reporting by Marc Jones; Editing by Catherine Evans) SEARCH

TripAdvisor to offer Takeaway's food delivery in Europe

Thursday, November 2 2017

TripAdvisor to offer Takeaway's food delivery in Europe

TripAdvisor to offer Takeaway's food delivery in Europe TripAdvisor to offer Takeaway's food delivery in Europe 16:42 hrs AMSTERDAM (Reuters) - TripAdvisor users will be able to order meal deliveries in nine European countries under a deal with Dutch online food delivery company Takeaway.com. The deal comes as competition in online food delivery heats up with the entry of Uber and Amazon.com. Takeaway said on Thursday its network of more than 31,000 restaurants will be accessible through TripAdvisor’s desktop site, mobile website and app. U.S.-owned TripAdvisor users will be able to click through to Takeaway's site to order food from partner restaurants in Germany, the Netherlands, Poland, Austria, Belgium, Switzerland, France, Luxembourg and Portugal. The terms and duration of the agreement were not disclosed. (Reporting by Anthony Deutsch; editing by Alexander Smith) SEARCH

Soccer-FIFA waiting for information from India over void election

Thursday, November 2 2017

Soccer-FIFA waiting for information from India over void election

Soccer-FIFA waiting for information from India over void election Soccer-FIFA waiting for information from India over void election Thu, Nov 02, 2017 17:00 hrs ZURICH, Nov 2 (Reuters) - Global soccer body FIFA is waiting for information over a Delhi High Court ruling which annulled the Indian football federation's (AIFF) most recent presidential election. FIFA statutes declare that member federations must be free from legal and political interference in their respective countries and has suspended other national associations in the past in similar cases. In an emailed statement to Reuters on Thursday, FIFA said it was "awaiting an official communication from the AIFF concerning the said matter. We have no further comment for the time being". The AIFF confirmed on Tuesday that the High Court of Delhi had ordered a re-run of the election held in December, which saw Praful Patel reelected as its president. It said the High Court had appointed the country's former election commissioner S.Y. Quraishi as the AIFF administrator and put him in charge of conducting a new election within five months under rules stipulated by the national sports code. The AIFF said it was "fully complaint" with both Ministry of Youth Affairs and Sports directives, as well as FIFA statutes. The High Court's ruling came only three days after the final of the under-17 World Cup which was hosted by India. Patel is also a vice-president of the Asian Football Confederation (AFC) and is on FIFA's finance committee. (Writing by Brian Homewood in Bern; Editing by John O'Brien) SEARCH talking point on sify news Latest Features

Pakistan Captain Sarfraz Ahmed Rubbishes Dinesh Chandimal’s Witchcraft Claims

Thursday, November 2 2017

Pakistan Captain Sarfraz Ahmed Rubbishes Dinesh Chandimal’s Witchcraft Claims

4 Pakistan Captain Sarfraz Ahmed Rubbishes Dinesh Chandimal’s Witchcraft Claims Pakistan captain Sarfraz Ahmed on Thursday dismissed claims made by the Sri Lankan captain Dinesh Chandimal that the islanders won the recent two-match Test series against Pakistan in the United Arab Emirates due to witchcraft. Backing his statement, Sarfraz said that they lost the two Tests due to poor batting and nothing else. Taking a dig at Chandimal’s claim , he pointed out, if they could win the Test series due to witchcraft, then they should’ve also won the ODI and T20 series. “We lost the two Tests because of our poor batting and that is all,” Sarfraz said. “If they could win Test matches because of witchcraft or magic, then they should have also won the ODI and T20 series,” the Pakistan skipper added. Chandimal, after returning to Colombo, told reporters that he had received a special blessing from a meyni, or sorcerer, ahead of the two-Test series against Pakistan in the UAE. Sarfraz said being a Muslim he believed in the Holy Quran and also that there was magic in the world but he chose to blame his batsmen for the Test series defeat. “I believe in the Holy Quran and also that there was magic in the world, but in the Test series we just batted badly and lost chances to win,” said Sarfraz. He made it clear that while luck played a part in cricket but matches were won and lost on the field by players by their performances. Pakistan’s former Test skipper Muhammad Yousuf also rubbished Chandimal’s claims. “Don’t mix cricket with such things. Pakistan’s planning was bad and they messed it up,” said Yousuf. Yousuf said that if cricket matches could be won through witchcraft or with blessings of sorcerers then Sri Lanka would not have been struggling in all formats of the game. Chandimal’s comments came after Sri Lanka’s Sports Minister had earlier denied that he had sent the captain to a sorcerer to get blessings for the Test series. ( With PTI inputs )

SBI reduces lending rates on home and vehicle loans

Thursday, November 2 2017

SBI reduces lending rates on home and vehicle loans

SBI reduces lending rates on home and vehicle loans SBI reduces lending rates on home and vehicle loans Source : Last Updated: Thu, Nov 02, 2017 11:28 hrs Mumbai: India's largest lender State Bank of India (SBI) on Thursday announced reduction of interest rates on home and automobile loans by five basis points (bps). In a statement issued here the bank said, it has reduced home loan interest rates to 8.30 per cent. Similarly, automobile loan is now offered at a starting interest rate of 8.70 per cent per annum compared to earlier 8.75 per cent. With this reduction, SBI's offering in home loan is the lowest in the market. The new rates will be effective from November 01, the SBI claimed. The effective interest rate for all eligible salaried customers will be 8.30 per cent per annum for loans upto Rs 30 lakh. Rates have been reduced by five bps in all the brackets. Over and above of 8.30 per cent rate, an eligible home loan customer can also avail of an interest subsidy of Rs 2.67 lakh under the Pradhan Mantri Awas Yojana scheme. For car loan customers, the loan amount ranges from 8.70 per cent per annum to 9.20 per cent per annum compared to earlier range of 8.75 per cent to 9.25 per cent. The exact rate depends on the amount of loan and the credit score of the individual. SEARCH

SE Asia Stocks-Philippines jumps nearly 2 pct to record close

Thursday, November 2 2017

SE Asia Stocks-Philippines jumps nearly 2 pct to record close

SE Asia Stocks-Philippines jumps nearly 2 pct to record close SE Asia Stocks-Philippines jumps nearly 2 pct to record close Source : 16:00 hrs By Devika Syamnath Nov 2 (Reuters) - Philippine shares surged nearly 2 percent to a record close on Thursday, underpinned by hopes of robust economic growth in the third quarter, while other Southeast Asian markets closed lower, with Indonesia slipping from an all-time peak. The Philippine index closed 1.8 percent higher, with financials and real estate stocks accounting for the gains, as the market resumed trading after a two-day holiday. "Investors are optimistic that third-quarter numbers will be better than expected," said Jose L. Vistan, research head at Manila-based AB Capital Securities. The country's third-quarter inflation data is due on Nov. 7 and gross domestic product data is due on Nov. 16. Property developer Megaworld was among the top gainers on the index, closing up 6.9 percent at its highest in over two-and-a-half years, after saying it would turn over 1,000 residential units in Makati Central Business District this year for a total sales value of 9 billion pesos ($175.1 million). Meanwhile, other stock markets in the region declined ahead of the nomination of the next head of the U.S. Federal Reserve. The White House plans to nominate current Fed Governor Jerome Powell as the next chair when Janet Yellen's term expires in February, a source familiar with the matter said on Wednesday. "The most important factor right now is whether the new Fed chair would tighten quantitative easing faster than what market expects," said Taye Shim, head of research at Jakarta-based Mirae Asset Sekuritas. Singapore shares closed down 0.3 percent, dragged by the banking sector, with heavyweight Oversea-Chinese Banking Corp shedding 1.2 percent. Indonesia retreated from a record high scaled earlier in the session, closing down marginally, as investors booked profits. "Foreigners are still buying Indonesian equities so no big change in sentiment, it is primarily driven by local institutions taking profit," said Shim. Consumer staples such as Unilever Indonesia, which fell 1.1 percent, weighed down the index. "Prolonged low inflation environment is likely to keep business environment unfriendly for staples manufacturers," said Shim. Indonesia's annual inflation rate eased for a fourth straight month in October, reaching its lowest level since January. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Pct Move close Singapore 3380.5 3391.61 -0.33 Bangkok 1701.93 1714.55 -0.74 Manila 8516.02 8365.26 1.80 Jakarta 6031.107 6038.146 -0.12 Kuala Lumpur 1741.05 1743.93 -0.17 Ho Chi Minh 833.09 842.71 -1.14 Change on year Market Current End 2016 Pct Move Singapore 3380.5 2880.76 17.35 Bangkok 1701.93 1542.94 10.30 Manila 8516.02 6840.64 24.49 Jakarta 6031.107 5296.711 13.87 Kuala Lumpur 1741.05 1641.73 6.05 Ho Chi Minh 833.09 664.87 25.30 ($1 = 51.4130 Philippine pesos) (Reporting by Devika Syamnath, Additional reporting by Sumeet Gaikwad; Editing by Amrutha Gayathri) SEARCH

Government has no campaign for women safety: Nirbhaya's mother

Thursday, November 2 2017

Government has no campaign for women safety: Nirbhaya's mother

Government has no campaign for women safety: Nirbhaya's mother Government has no campaign for women safety: Nirbhaya's mother Source : 15:00 hrs [India], Nov. 2 (ANI): Nirbhaya's mother Asha Devi on Thursday complained that the government launched a number of ambitious campaigns but none for the safety of women in this country. "Many movements have been initiated, like 'Swachh Bharat Abhiyan', but the government has no campaign for women safety in its account. I urge the government and the administration to open their eyes, understand the grief of victim's family and contemplate the reason behind these so-called minor incidents," she said. Asha Devi said she wants the criminals to be hanged as soon as possible. "I waited for about five months, but was still clueless about the happenings in the case. Therefore, we complained, so that at least we can be aware of the proceedings. The commission issued a notice to police because no further action was taken till now. This December will be the fifth year of the incident. The Supreme Court has awarded death sentence to the four convicts and the judgment should be followed. I only want them to be hanged as soon as possible because the criminals are getting more powerful with each passing day," she said. The DCW on Tuesday issued a notice to the Tihar Jail Administration and DCP, South District, questioning the delay in the imposition of death penalty to the Nirbhaya case perpetrators. Nirbhaya's mother expressed amusement at the crass statements of the politicians, which encourages criminals to walk free in the nation. "The politicians keep promoting crime by making crass comments these days. I feel amused by these mindless statements of our representatives. They say these crimes happen because female leave their house at night. I just saw a leader on TV saying the rape of an old lady was a minor incident. Such incidents keep happening with little girls as well. I just want everyone to get justice and a strict action in the interest of women," Asha Devi said. Nirbhaya was brutally raped and killed by six men in a moving bus in the national capital on December 16, 2012. One of the convicts committed suicide and the other walked free from the prison because he was juvenile at the time of the crime. The Supreme Court upheld death sentence for the rest of the four convicts months ago. (ANI) SEARCH talking point on sify news Latest Features

Won't join Congress: Jignesh Mevani on Gujarat polls

Thursday, November 2 2017

Won't join Congress: Jignesh Mevani on Gujarat polls

Won't join Congress: Jignesh Mevani on Gujarat polls Won't join Congress: Jignesh Mevani on Gujarat polls Source : 15:47 hrs [India], November 2 (ANI): The leader and convener of the Rashtriya Dalit Adhikar Manch, Jignesh Mevani, on Thursday said he would not join any political party in the upcoming Gujarat elections, including the Congress. Speaking to the media here, Mevani said, "I won't join any political party in the 2017 elections, including the Congress." He, however, added if Congress vice-president Rahul Gandhi or any other party leader decides to hold talks with him to discuss the demands made by the Dalit group, he was ready to meet. "But it will not be to get a ticket to contest in the elections," Mevani said. Mevani further accused the Bharatiya Janata Party (BJP) Government in Gujarat of being arrogant and ignoring the matters of the Dalit in the state in its 22-year-long rule. Meanwhile, the 14th legislative assembly elections in Gujarat are to be held by the end of 2017 as the term of 13th assembly ends on January 22, 2018. Congress vice president Rahul Gandhi is heading his party's poll campaign in Gujarat. The last Congress Government in Gujarat was led by Chhabildas Mehta from February 17, 1994 to March 13, 1995. (ANI) SEARCH talking point on sify news Latest Features

Teen allegedly raped in Bhopal school, principal arrested

Thursday, November 2 2017

Teen allegedly raped in Bhopal school, principal arrested

Teen allegedly raped in Bhopal school, principal arrested Teen allegedly raped in Bhopal school, principal arrested Source : Last Updated: Thu, Nov 02, 2017 16:05 hrs Bhopal : A school principal has been arrested for allegedly raping a 16-year-old student in Bhopal. "Yesterday a girl came with her parents and alleged that she was raped by her school principal in March," station house officer (SHO) Shikha Singh told ANI. She added that the girl, in her complaint, alleged that the principal called her to his house and committed the crime there. The SHO further said they have filed an FIR based on the girl's statement. "The principal threatened her of dire consequences if she would tell anyone. She didn't tell her parents and had stopped going to school. Now when she told them, they approached us," Singh said. SEARCH talking point on sify news Latest Features

Choudhary makes a u-turn, says Centre, not Nitish govt. ignoring Dalits

Thursday, November 2 2017

Choudhary makes a u-turn, says Centre, not Nitish govt. ignoring Dalits

Choudhary makes a u-turn, says Centre, not Nitish govt. ignoring Dalits Choudhary makes a u-turn, says Centre, not Nitish govt. ignoring Dalits Source : 15:59 hrs [India], November 2 (ANI): Senior Janata Dal (United) leader Uday Narayan Choudhary on Thursday made a u-turn from his remark on policy for 'Dalits' and said it was the Centre and not Bihar Chief Minister, Nitish Kumar, who was ignoring the marginalised class. Choudhary on Wednesday had alleged that there was neither any policy nor intention in the Nitish Kumar government for the upliftment of the Dalits. Clarifying his earlier remark, Choudhary told ANI the question was never about Nitish Kumar as he is not responsible for increasing or decreasing the quota. "The question is not about Nitish Kumar, he is our leader, and will be our leader. Whatever I say will be under the constitution. What will Nitish do? When the reservation is cancelled under the promotion what can Nitish do there? It is the Central government that is supposed to pass a bill regarding this," he told ANI. The JD (U) leader said reservation in promotions being scrapped is big setback for Dalits, tribals and OBCs. "The National Democratic Alliance (NDA) government has dragged away from the major issues like the upliftment of the poor, rights for backward classes, malnutrition and is busy with in cow vigilantism and Ram Temple," he said. When questioned why he never raised the issue while holding a position in the Nitish government, Choudhary said he was sitting on a constitutional post and couldn't have said such things. "The provision of scholarship has been wiped out recently, so why should have I raised the matter earlier," he said. As per report, Choudhary said Kumar was "no longer focused on Dalit welfare", and warned that the BJP would continue to "ill-treat" him. Earlier on Monday, Choudhary and Janata Dal (United) General Secretary Shyam Rajak opposed the demand for a review of the reservation policy in the state. They said that the Narendra Modi government wanted to do away with quota in promotions as well as introduce creamy layers for SCs and STs. (ANI) SEARCH talking point on sify news Latest Features

Former Bihar CM slams JD(U) leader for remark against Nitish Kumar

Thursday, November 2 2017

Former Bihar CM slams JD(U) leader for remark against Nitish Kumar

Former Bihar CM slams JD(U) leader for remark against Nitish Kumar Former Bihar CM slams JD(U) leader for remark against Nitish Kumar Source : 16:02 hrs [India], November 2 (ANI): Former Bihar chief minister Jitan Ram Manjhi on Thursday lashed out at senior Janata Dal (United) leader Uday Narayan Choudhary over his remark against Chief Minister Nitish Kumar's policy for Dalits and questioned why he never spoke about the issues when he was in power. Manjhi's remark came after Choudhary said Nitish was "no longer focussed on Dalit welfare", and warned that the Bharatiya Janata Party (BJP) would continue to "ill-treat" him. "Why are they raising the issue now? Why did they never raise the issue when he was in power? That simply means even he was scared to lose the post," Manjhi told ANI. Backing Nitish, Manjhi said everybody had a specific way of performing a task and the Bihar chief minister was working according to his own way. "I believe when I was there or now when Nitish Kumar is there, we have always followed particular steps for the upliftment of the poor. The new steps will also be beneficial for the people. But I don't consider them a miracle. I know that the chief minister is very concerned about the Dalits," he said. Earlier on Monday, Choudhary and JD(U) general secretary Shyam Rajak opposed the demand for a review of the reservation policy in the state. They said that the Narendra Modi-led Government at the Centre wanted to do away with quota in promotions as well as introduce creamy layers for SCs and STs. The Bihar cabinet had, on Wednesday, given its nod to reservations in government services outsourced to private agencies. (ANI) SEARCH talking point on sify news Latest Features