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[BENGALURU / NEW YORK] Morgan Stanley’s third-quarter profit beat market expectations as investment bankers brought in more fees from advising on deals and by underwriting stock and debt sales, lifting revenue to a record.Shares of the bank rose 3.9 per cent in premarket trading on Wednesday. They have gained 23.6 per cent this year as at their last closing price.A string of large deals pushed global mergers and acquisitions (M&A) activity past the US$3 trillion mark this year. A resilient US economy, optimism around interest-rate cuts, and lighter regulations under the Trump administration have spurred businesses to do deals or…
ROME :Italy plans to apply an extra levy on some imported Chinese goods to help protect its fashion industry, government sources told Reuters on Wednesday.The move is aimed at avoiding unfair competition in the market for what is one of Italy’s key industries, the people said, asking not to be named.”We will present a measure to tackle the ultra fast fashion phenomenon: an invasion of low-cost foreign products that damage our producers and put consumers at risk,” Industry Minister Adolfo Urso said in a statement at the end of a meeting with fashion industry representatives in Rome.The government plans to…
With China being the world’s biggest car market, global carmakers may need to redesign models to fall in with the rules China draws up for its domestic market [HONG KONG] A fatality involving a Xiaomi SU7 electric sedan has renewed scrutiny of flush car door handles and is likely to reinforce China’s push for tougher safety standards.Bystanders were unable to open the doors to rescue the driver, who died in the vehicle that had burst into flames following the collision on Monday (Oct 13). Police suspect that the crash was caused by drink driving.While Chinese regulators began drafting new requirements…
The Czech Football Association fired coach Ivan Hašek on Wednesday following a humiliating 2-1 defeat to Faroe Islands in World Cup qualifying.It was not immediately clear who would replace Hašek.Czech FA president David Trunda said a coach would be named to lead the team until the end of the qualifying campaign. A foreign coach is then likely to take over on a permanent basis.Former Czech great Pavel Nedvěd has been asked to compile a list of potential candidates.Sunday’s upset loss against the Faroes, a territory with a population of 55,000, was the biggest for the Czechs in qualifying for a…
Stories you might have missedMarket sees higher ship refinancing amid conflicts between US and China[SINGAPORE] With the US levying fees on Chinese-related vessels and China retaliating with tit-for-tat port fees on US-affiliated ships, the shipping market is now experiencing a wave of refinancing activity.Developers’ sales fall 36.4% year on year in September; fewer units launched in Hungry Ghost month[SINGAPORE] Developers in Singapore sold 255 private homes (excluding executive condominiums or ECs) in September. This was down 88.1 per cent from the month before and 36.4 per cent lower than the 401 units sold a year earlier, showed data released by…
(asterisk)(asterisk)(asterisk)(asterisk)(asterisk)HAVE REQUESTED APPROPRIATE PHOTOS(asterisk)(asterisk)(asterisk)(asterisk)(asterisk)Turns out Thomas Tuchel was right.The soccer season was only a few weeks old when the England coach expressed his belief that old-school tactics were back in vogue.Long throw-ins. Long clearances by goalkeepers. Crosses into the box for tall strikers.“All these patterns are back,” Tuchel said, generating some mild surprise among an English soccer audience that has been enchanted over the past decade by a Pep Guardiola-influenced style of play where possession of the ball was king.Well, Tuchel’s assessment has proved to be accurate, with teams from the lucrative, glitzy Premier League — heck, even Guardiola’s slick…
KYIV, Ukraine — KYIV, Ukraine (AP) — A Ukrainian government delegation has met with prominent American weapons manufacturers during a U.S. visit, a senior Kyiv official said Wednesday, before President Volodymyr Zelenskyy’s meeting with U.S. counterpart Donald Trump at the White House later this week.A delegation led by the head of the Ukrainian president’s office, Andrii Yermak, and Prime Minister Yuliia Svyrydenko met with representatives of Lockheed Martin and Raytheon, Yermak wrote in a Telegram post.Yermak didn’t disclose what was discussed during the talks, but said that his country’s cooperation with the two companies “continues to grow” as Ukraine looks…
Washington — The Supreme Court on Wednesday is set to consider for the second time a long-running legal fight over Louisiana’s congressional map, a case that could have significant ramifications not just for political representation in the state, but also for its potential to weaken Section 2 of the Voting Rights Act.At issue in the case is whether state lawmakers’ intentional drawing of a second majority-minority district — undertaken to remedy a likely violation of Section 2 — runs afoul of the 14th and 15th Amendments of the Constitution.The high court initially heard arguments in March over whether to leave in…
A company has been fined £14m for failing to keep data safe during a cyber attack, which resulted in more than six million people having their data stolen.Sensitive information, such as pension records, details of criminal convictions and other financial data, were taken by cyber attackers from outsourcing specialist and government contractor Capita in March 2023. The company was left “at significant risk”, the UK privacy watchdog said, as it failed to ensure secure processing of personal data.Money blog: Major changes to vet prices proposed after investigation Capita also lacked appropriate technical and organisational measures to effectively respond to the…
Apple unveiled a series of product updates on Wednesday, including a refreshed MacBook Pro, an iPad Pro and a second generation of the Vision Pro headset, as it embeds its latest M5 chip across devices aimed at creative professionals.The introduction of M5-powered devices positions Apple to counter performance gains from rivals using Qualcomm and Intel’s latest AI-oriented chips. The move builds on Apple’s strategy of debuting its most advanced chip in the MacBook Pro and iPad Pro devices ahead of others.The new 14-inch MacBook Pro, featuring the M5 processor, is a step up from the M4 series of chips introduced…