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Wednesday, October 26, 2016 |Latest E-book

Asia stocks slide after Wall Street losses, oil drops on glut concerns | Reuters

54 mins ago   

By Nichola Saminather | SINGAPORE SINGAPORE Asian shares tumbled in early trade on Wednesday, following in the footsteps of Wall Street, which pulled back on disappointing earnings, while the dollar inched down from a seven-month high and oil prices slid.MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.3 percent. Japan’s Nikkei .N225 lost 0.2 percent, while South Korea’s KOSPI .KS11 dropped 0.8 percent and Australia fell 1.4 percent.U.S. stocks ended Tuesday down between 0.3 and 0.5 percent, as results and forecasts from companies in sectors including housing and consumer products missed expectations.Apple .AAPL too dragged the market lower, as iPhone sales, which were better than expected, nevertheless continued a declining trend

Apple’s holiday surprise: big sales, not so big profits | Reuters

Oct 26, 2016   

By Jeffrey Dastin and Anya George Tharakan Apple Inc (AAPL.O) posted its third successive quarter of declining iPhone sales on Tuesday and forecast slimmer-than-expected profit margins over the upcoming holiday season even as it projected record sales, sending its shares down.The world’s most valuable publicly traded company said improved sales from China were around the corner, despite revenue falling almost 30 percent from the country in the latest quarter. It said sales so far to India have only scratched the surface.But a slight miss on fiscal fourth-quarter revenue and a projection of gross profit margins a touch behind analyst targets reflected broader concerns that Apple may have lost its tech superiority, even with the refreshed iPhone 7.”In essence, in China and elsewhere, while Appleā€™s products are still seen favourably, the distance between Apple and its competitors is nowhere near as great as it once was,” Neil Saunders, head of retail research firm Conlumino, wrote in a note.Apple shares fell 2.8 percent to $114.99 in after-hours trading.Chief Financial Officer Luca Maestri said in a phone interview with Reuters it was “impossible to know” if there was any effect yet from rival Samsung Electronics Co Ltd (005930.KS) halting production of its fire-prone Galaxy Note 7 phones earlier this month.He also said that Apple was “supply constrained” and selling all the smartphones it could make.”It’s clear that Apple is bullish about growth in the iPhone, but there’s little evidence of that growth in the actual results announced today,” said analyst Jan Dawson of Jackdaw Research. “Given that the iPhone 7 and especially the iPhone 7 Plus is in short supply, Apple is going to be a little constrained in its ability to take full advantage of the strong demand we’re seeing,” he added

NATO seeks troops to deter Russia on eastern flank | Reuters

Oct 26, 2016   

By Robin Emmott | BRUSSELS BRUSSELS NATO will press allies on Wednesday to contribute to its biggest military build-up on Russia’s borders since the Cold War as the alliance prepares for a protracted quarrel with Moscow.With Russia’s aircraft carrier heading to Syria in a show of force along Europe’s shores, alliance defence ministers aim to make good on a July promise by NATO leaders to send forces to the Baltic states and eastern Poland from early next year.The United States hopes for binding commitments from Europe to fill four battle groups of some 4,000 troops, part of NATO’s response to Russia’s 2014 annexation of Crimea and concern it could try a similar tactic in Europe’s ex-Soviet states.France, Denmark, Italy and other allies are expected to join the four battle groups led by the United States, Germany, Britain and Canada to go to Poland, Lithuania, Estonia and Latvia, with forces ranging from armoured infantry to drones.NATO Secretary-General Jens Stoltenberg said the commitments would be “a clear demonstration of our transatlantic bond.” Diplomats said it would also send a message to Republican presidential nominee Donald Trump, who has complained that European allies do not pay their way in the alliance.The battle groups will be backed by NATO’s 40,000-strong rapid-reaction force, and if need be, further follow-on forces, for any potential conflict, which could move into Baltic states and Poland on rotation.The strategy is part of an emerging new deterrent that could eventually be combined with missile defences, air patrols and defences against cyber attacks. However, the alliance is still struggling for a similar strategy in the Black Sea region, which Turkish President Tayyip Erdogan has said is becoming a “Russian lake” because of Moscow’s military presence there. Romania, Bulgaria and Turkey are expected to soon come forward with a plan to increase naval and air patrols in the area, as well as a multinational NATO brigade in Romania.