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Business - GE beats on profit but cuts revenue target on oil, gas weakness

General Electric Co beat analyst profit forecasts in the third quarter, but revenue growth remained sluggish, prompting the company to lower its full-year revenue growth target and narrow its profit forecast on Friday and sending shares lower. The industrial giant`s adjusted profit jumped 10 percent to 32 cents a share, beating the 30 cents that analysts had estimated on average, according to Thomson Reuters I/B/E/S. Analysts had been looking for GE to report stronger revenue growth after a weak first half, but that was stymied by a 25-percent slump in oil and gas revenue in the quarter.

Friday, October 21, 2016  12:41


Business - GE profit up but revenue forecast trimmed amid sluggish economy

Analysts had been looking for GE to report stronger revenue growth after a weak first half. Total revenue grew 4.4 percent to $29.27 billion. GE`s adjusted profit jumped 10 percent to 32 cents a share, beating the 30 cents that analysts estimated, on average, according to Thomson Reuters I/B/E/S.

Friday, October 21, 2016  12:17


World - Turkish Red Crescent says sending aid for 10,000 to Iraq`s Mosul

The Turkish Red Crescent is sending trucks of aid to northern Iraq with enough food and humanitarian supplies for 10,000 people displaced by fighting in Mosul, the president of the agency said on Friday. `In the first stage, we are sending this aid to the nearly 30 villages around Mosul that have been liberated. There are 3,000 to 4,000 people on the move from those villages, the trucks aim to reach them,` Kerem Kinik told Reuters.

Friday, October 21, 2016  11:11


World - Burkina Faso forces foiled coup attempt in early October, minister says

OUAGADOUGOU (Reuters) - Security forces in Burkina Faso foiled a coup attempt on Oct. 8 by about 30 members of the ex-presidential guard, known as the RSP, Interior Minister Simon Compaore said on Friday. He said the plan included an attack on the presidential residence, as well as on army barracks and a prison in the capital, Ouagadougou. (Reporting By Mathieu Bonkoungou and Nadoun Coulibaly, writing by Edward McAllister; Editing by Joe Bavier, Larry King)

Friday, October 21, 2016  17:10


Business - Exclusive: Dick`s wins auction for U.S. business of bankrupt Golfsmith - sources

Dick`s plans to keep open at least 30 Golfsmith stores and wind down the rest with liquidators from Hilco Global and Tiger Capital Group, the people said. Golfsmith had 109 stores in the United States at the time of its bankruptcy filing last month, and has been closing stores since then. With the bid, Dick`s, the largest U.S. sporting goods retailer, also won Golfsmith`s intellectual property and inventory, the people added, asking not to be identified because the results of the auction are not yet public.

Friday, October 21, 2016  17:09


Business - Exclusive: Dick`s wins auction for U.S. business of bankrupt Golfsmith - source

Dick`s plan to keep at least 30 Golfsmith stores and wind down the rest, the person said. Dick`s also plans to retain 500 Golfsmith employees, in addition to intellectual property and inventory, the person added, asking not to be identified ahead of any official announcement. Dick`s and Golfsmith did not immediately respond to requests for comment.

Friday, October 21, 2016  16:14


World - Factbox: Duterte distances Philippines from ally U.S.

(Reuters) - Philippine President Rodrigo Duterte has grown increasingly hostile toward his country`s traditional ally the United States since taking office on June 30, while seeking to court U.S. rivals China and Russia. Officials in Washington have been largely taken by surprise by Duterte`s near-daily barrages, and have sought to avoid provoking him. The following are key comments that Duterte has made about the bilateral relationship, and U.S. responses:     PIVOT TO CHINA - On a state visit to China this week, Duterte told a forum of Chinese and Philippine business people he wanted his country to separate from the United States and realign with China.

Friday, October 21, 2016  13:54


World - Scandal-weary Moldovans may back pro-Russia candidate for president

By Matthias Williams CHISINAU (Reuters) - The frontrunner in Moldova`s presidential race wants to end his country`s seven-year flirtation with the European Union and pivot back to Russia amid deep public discontent with a pro-Western ruling elite that has presided over economic turmoil. The ex-Soviet republic is still reeling from a banking scandal last year involving the looting of one billion dollars - the equivalent of an eighth of Moldova`s economic output - that highlighted the scale of corruption in Europe`s poorest nation, where the average monthly family income is below $300. A victory for Igor Dodon, the opposition Socialist party candidate, in the Oct. 30 election, would be good news for Russia as it vies with the West for influence across eastern Europe, including in Moldova`s much bigger neighbor Ukraine.

Friday, October 21, 2016  07:23


World - Ivory Coast police break up demo against draft constitution

Police in Ivory Coast used tear gas on Thursday to break up a demonstration against a proposed new constitution and briefly detained several opposition politicians, according to an AFP journalist. A draft of the new basic law, which President Alassane Ouattara says will put an end to years of crises in Ivory Coast, but which the opposition derides as dangerous and anti-democratic, will be put to a referendum on October 30. A vast deployment of anti-riot police in the economic capital, Abidjan, greeted protesters carrying banners saying `No to the Ouattara monarchy`, referring to the main architect of the proposed constitution.

Friday, October 21, 2016  06:22

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