Stocks Lose Steam as Nerves Persist, Euro Dips

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A gauge of world equities was little changed after giving up early gains on Thursday, continuing a pattern seen for the past several sessions, while the euro eased after the European Central Bank formally ended its bond purchasing scheme. In the United States, the S&P and Nasdaq finished in the red while the Dow closed well off its session highs as cautious trade optimism faded. Nervousness has heightened volatility in stocks recently, with a tendency for stocks to lose morning gains as the day wears on.  In Beijing, a commerce ministry spokesman said China and the United States were in close contact over trade, and any U.S. trade delegation would be welcome to visit.   Although signs of a trade thaw have been welcomed by investors, other worries have kept…


Apple Deepens Austin Ties, Expands Operations East and West

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Apple will build a $1 billion campus in Austin, Texas, break ground on smaller locations in Seattle, San Diego and Culver City, California, and over the next three years expand in Pittsburgh, New York and Colorado. The tech giant said Thursday that the new campus in Austin, less than a mile from existing Apple facilities, will open with 5,000 positions in engineering, research and development, operations, finance, sales and customer support. The site, according to Apple, will have the capacity to eventually accommodate 15,000 employees. The three other new locations will have more than 1,000 employees each. Early this year, Apple said that it would make more than $30 billion in capital expenditures in the U.S. over the next five years. That, the company said in January, would create more…


Virgin Galactic’s New Flight Test to Soar Closer to Edge of Space

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Virgin Galactic is preparing for a new flight test Thursday that aims to fly higher and faster than before toward the edge of space. The U.S. company run by British tycoon Richard Branson is aiming to be the first to take tourists on brief trips into microgravity. Virgin Galactic's fourth flight test on the VSS Unity is scheduled for Thursday, weather permitting. The flight will take off from a spaceport in Mojave, California. The vessel does not launch from Earth but is carried to a higher altitude — about nine miles (15 kilometers) high — attached to an airplane. Then, two pilots on the VSS Unity fire the engines toward the frontier of space, typically defined as an altitude of 62 miles (100 kilometers). In July, after burning the rocket…


Wall Street Gains on Better Signs in US-China Trade Talks

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Wall Street stocks finished higher on Wednesday due to improved hopes for the US-China trade talks. The Dow Jones Industrial Average added 0.6 percent at 24,527.27. The broad-based S&P 500 advanced 0.5 percent to 2,651.07, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 7,098.31. Wall Street stocks have been volatile in recent weeks in part due to unpredictable and ambiguous events connected to the Beijing-Washington trade negotiations. The latest indicators have been more upbeat, with a Chinese Huawei executive granted bail in a Canadian court in a closely-watched legal case and confirmation from Commerce Secretary Wilbur Ross in a television interview that Beijing had offered to cut tariffs on autos imported from the United States and resume soybean purchases. Unlike the last two sessions, there were no major…


OMG: California Regulators Consider Charge on Text Messaging

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California regulators are considering a plan to charge a fee for text messaging on mobile phones to help support programs that make phone service accessible to the poor. The Mercury News reports Wednesday that the proposal is scheduled for a vote next month by the state Public Utilities Commission. The wireless industry and business groups have been working to defeat the plan. Jim Wunderman of the Bay Area Council, a business-sponsored advocacy group, says it would essentially put a tax on conversations. The newspaper says it's unclear how much money individual consumers would be asked to pay their wireless carrier for texting services under the proposal. But it likely would be billed as a flat surcharge — not a fee per text. ...


Sports, Deaths Among 2018’s Top Google Searches

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Sports, disaster and death were among the top searches on Google last year. Each December, the technology company releases it's top trending searches of the year. Topics that drew the interest of Americans included the World Cup, Hurricane Florence and three people who died in 2018 — rapper Mac Miller, designer Kate Spade and TV host and author Anthony Bourdain. Google does not come up with its lists based on the number of total searches. Instead, the company looks at the search terms that enjoyed the highest spike compared to the previous year. "Black Panther" topped the list of most searched movies, while rising stars in the Democratic party dominated the list of most searched politicians. Here are the Top 10: World Cup Hurricane Florence Mac Miller Kate Spade Anthony…


Sustainable Tree Farming Means Better Lives for Kenyan Farmers

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Wood consumption — including logging and the production of charcoal — is a leading cause of forest degradation in Africa. In some of Kenya's coastal regions, recurring droughts have made the problem even worse.  Now, farmers in those regions are planting trees, putting their once-barren land to use in a venture that enables them to earn a living and conserve the environment at the same time.  At Be Sulubu Tezo, in Kilifi county, Kenya, Kanze Kahindi Mbogo tends to her tree farm. She thins out the trees whose wood is now strong enough for her to sell for home-building and making fences.   The money she makes is for her six children.  A better life Kahindi says she has been able to educate her children, pay a couple of debts and do…


Malaysian Ex-PM Slapped with New Charge Over 1MDB Scandal

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Former Malaysian Prime Minister Najib Razak was charged Wednesday with tampering with the final audit report into a defunct state investment fund, adding to a long list of corruption allegations against him since his ouster in May elections. Najib was charged along with Arul Kanda Kandasamy, the former head of the 1MDB fund, which is being investigated in the U.S. and other countries for alleged cross-border embezzlement and money laundering. Najib pleaded not guilty to abusing power to order the modification of the report in February 2016 before it was presented to the Public Accounts Committee, in order to protect himself from disciplinary and legal action. Kandasamy, who was detained overnight by anti-graft officials, pleaded not guilty to abetting Najib. ​The charges came after the auditor-general revealed last month that…


Avianca Brasil Airline Declares Bankruptcy

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Cash-strapped Avianca Brasil, the country's fourth-largest airline, on Tuesday sought bankruptcy protection from creditors but reassured passengers that flights will continue. "Due to resistance from the lessors (of their aircraft) to reaching a friendly settlement, we have filed seeking protection from creditors, to protect clients and passengers," a company statement said. Operations are not expected to be affected and "passengers can have complete peace of mind to make reservations and buy tickets, since all sales will be honored and flights will be operating," it said. The airline has debts of almost 493 million reais ($127 million) with multiple creditors, the business daily Valor reported. Avianca Brasil, a brand of Oceanair Linhas Aereas SA (Oceanair), is not part of the group Avianca Holdings S.A, based in Colombia. But both are parts…


Experts: Millions Invested But Gold Mining ‘Under-Exploited’ in W. Africa

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Mining companies have invested at least $5 billion towards gold exploration in West Africa in the last decade but significant reserves are under-exploited, mineral industry experts said on Tuesday. Delegates at the Ecomof mining and petroleum forum in the Ivory Coast commercial capital Abidjan were told that more must be done to attract international investors to develop mining potential. "Throughout West Africa there are interesting minerals, gold, iron, nickel, manganese among others," said Kadjo Kouame, managing director of Sodemi, the Ivory Coast mining development company. Ivory Coast and Ghana are among the world's top cocoa producers but are now seeking to diversify their economies by mining precious metals and newly discovered reserves of oil. "But there is a real job to do to attract investors and diversify projects, too focused…


US Intelligence Official: China’s Hacking Against US on the Rise

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A senior U.S. intelligence official said on Tuesday that Chinese cyber activity in the United States had risen in recent months, targeting critical infrastructure in what may be attempts to lay the groundwork for future disruptive attacks. "You worry they are prepositioning against critical infrastructure and trying to be able to do the types of disruptive operations that would be the most concern," National Security Agency official Rob Joyce said at a Wall Street Journal cybersecurity conference. Joyce, a former White House cyber adviser for President Donald Trump, did not elaborate. A spokeswoman for the NSA said Joyce was referring to digital attacks against the U.S. energy, financial, transportation and healthcare sectors. The comments are notable because U.S. complaints about Chinese hacking have to date focused on espionage and intellectual…


Protesters Disrupt US Fossil Fuel Event at Climate Talks

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Protesters disturbed a U.S.-sponsored event promoting fossil fuels on the sidelines of U.N. climate change talks on Monday. The event called "U.S. innovative technologies spur economic dynamism," touting the benefits of burning fossil fuels more efficiently, infuriated campaigners and many government delegations who want the talks to focus on moving away from coal, oil and gas. Some 100 protestors in the audience at the event seized a microphone and interrupted opening remarks by Wells Griffith, the man President Donald Trump appointed as senior director for energy at the National Security Council. They waved banners and chanted: "keep it in the ground." "I'm 19 years old and I'm pissed," shouted Vic Barrett, a plaintiff in the "Juliana vs U.S." lawsuit filed in 2015 by 21 young people against the government for…


Google CEO Tells Lawmakers Tech Giant Operates ‘Without Political Bias’

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Google CEO Sundar Pichai insisted Tuesday before the House Judiciary Committee that he runs the U.S. technology giant without political preference. "We find that we have a wide variety of sources, including sources from the left and sources from the right. And we are committed to making sure there are diverse perspectives," Pichai told the panel. Pichai defended the company after accusations from Republican lawmakers that Google has developed online search algorithms to suppress conservative voices. "There are numerous allegations in the news that Google employees have thought about doing this, talked about doing this and have done it," Republican committee chairman Robert Goodlatte said. Republican Congressman Lamar Smith cited a study by P.J. Media that concluded 96 percent of Google's search results for President Donald Trump were from "liberal…


EU Will ‘Follow Closely’ French Deficit after Macron Measures

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EU economics affairs commissioner Pierre Moscovici on Tuesday said Brussels will keep close watch over France's new spending plans, a day after President Emmanuel Macron unveiled new measures to quell violent protests. "The European Commission will closely monitor the impact of the announcements made by President Macron on the French deficit and any financing arrangements," Moscovici told AFP. "We are in constant contact with the French authorities," added Moscovici, who was attending a plenary session of European Parliament in Strasbourg. Meeting the EU's three percent deficit limit has been a centrepiece of Macron's European strategy in order to win the trust of powerful Berlin and its backing for EU reforms. Before the "yellow vests" protests, the 2019 public deficit was expected to reach 2.8 percent of gross domestic product (GDP),…


Taiwan Reinforces Ban on Huawei Network Equipment

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Taiwan is reinforcing its five-year-old ban on network equipment produced by Chinese companies Huawei Technologies and ZTE Corp. amid security concerns. Officials sought over the weekend to reassure lawmakers and the public that such measures have been effective and the threat to the communications sector is minimal.   Huawei has established a presence in Taiwan, with its handsets among the top sellers. The company also sponsors a Christmas extravaganza in a Taipei suburb that features a giant Santa emblazoned with Huawei's logo.   While several countries have similar bans in place, the risk for Taiwan is potentially greater since China claims the island as its own territory and threatens to use military force to bring it under its control. Back-doors that some allege Huawei has built into its products could…


Disney Again Makes History with Earning Above $7B for 2018

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Walt Disney Studios is again ending the year on a high note, posting more than $7 billion in global box office earnings, thanks to hits such as "Black Panther" and "Avengers: Infinity War." "This is only the second time in history any studio has surpassed the $7 billion mark, after Disney's own industry-record 2016 global gross of $7.6 billion," the company said in a statement on Monday. "The Studios' estimated international box office gross through December 9 is an estimated $4.069 billion, marking our second biggest year and the third biggest in industry history," it added. Disney's success comes as the studio is set to release "Mary Poppins Returns" on December 19, which is expected to top the box office during the holiday season. ​"To date, four of the top…


Chinese Court Bans iPhone Models in Patent Dispute

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A Chinese court has ordered a ban in the country on most iPhone sales  because of a patent dispute between iPhone maker Apple and U.S. chipmaker Qualcomm. The Fuzhou Intermediate People's Court granted Qualcomm's request for preliminary injunctions against four subsidiaries of Apple, ordering them to immediately stop selling the iPhone 6S through the iPhone X that use older versions of Apple's iOS operating system, according to a statement from Qualcomm Monday. Apple said in a statement Monday its iPhones using newer operating systems remain on sale in China. The Chinese court found Apple violated two of Qualcomm's software patents involving resizing photographs and managing applications on a touch screen. Apple shares fell Monday on the news. "Qualcomm's effort to ban our products is another desperate move by a company…


France’s Yellow Vests Attract Attention of Climate Change Conference

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Environment ministers from nearly 200 countries are arriving in the Polish city of Katowice to join haggling over ways to advance the 2015 Paris accord to curb climate change. National leaders have stayed away from this year’s climate change conference largely because it is devoted to agreeing the details of the implementation of the Paris agreement. But as ever, the devil is in the details. Ahead of the ministerial arrivals, climate activists from around the world marched Saturday in the Polish city to vent their frustration and to urge governments to “wake up” and “make the planet green again.” “It’s time to save our home,” they chanted near the hall hosting the two-week U.N. Climate Change Conference. Meanwhile, 1,500 kilometers away police in Paris battled Yellow Vest protesters mounting their…


Musk Suggests Tesla’s New Chairwoman Won’t Rein Him in

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Tesla CEO Elon Musk dismissed the idea that the company's new chairwoman can exert control over his behavior. Robyn Denholm, an Australian telecommunications executive, was appointed chairwoman of Tesla's board last month, replacing Musk as part of a securities fraud settlement with U.S. government regulators. But Musk said "it's not realistic" to expect Denholm to watch over his actions because he remains the electric car company's largest shareholder. "It's not realistic in the sense that I am the largest shareholder in the company," Musk said in an interview with CBS' "60 Minutes," broadcast Sunday evening, adding that a large percentage of shareholders support him and all he needs is about one-third of them. "I can just call for a shareholder vote and get anything done that I want," he said.…


GM Fights US Government to Retain Tax Credit for Electric Cars

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General Motors is fighting to retain a valuable tax credit for electric vehicles as the nation's largest automaker contends with the political fallout triggered by its plans to shutter several U.S. factories and shed thousands of workers. Preserving the $7,500 tax incentive for buyers is crucial for GM as the company pivots from internal combustion engines in favor of building cars powered by batteries or hydrogen fuel cells. Yet the layoffs and plant closings could imperil GM's push to keep the incentive. It helps make plug-ins such as the $36,000 Chevy Bolt more affordable at a time when competition from other electric vehicle makers is heating up. GM faces opposition from President Donald Trump and other Republicans who consider the credit a waste of taxpayer money and want it eliminated.…


Stocks Slip on China-US Tensions; Oil Resumes Slide

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Stocks around the world are falling Monday morning, and U.S. indexes gave up modest early gains and turned lower, hurt by sharp drops for energy and financial companies. The British pound is dropping after the U.K. prime minister postponed a vote on its departure from the European Union, and oil has resumed its sharp slide. Keeping score: The S&P 500 index lost 47 points, or 1.8 percent, to 2,585, as of 11 a.m. Eastern time. The Dow Jones industrial average fell 435 points, or 1.8 percent, to 23,904, and the Nasdaq composite dropped 73, or 1.1 percent, to 6,894. U.S. indexes have been lurching up and down since October, mostly down, and the S&P 500 plunged 4.6 percent last week for its biggest loss in more than eight months, as…


NASA’s Voyager 2 Becomes 2nd Craft in Interstellar Space

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NASA's Voyager 2 has become only the second human-made object to reach the space between stars. NASA said Monday that Voyager 2 exited the region of the sun's influence last month. The spacecraft is now beyond the outer boundary of the heliosphere, some 11 billion miles from Earth. It's trailing Voyager 1, which reached interstellar space in 2012. Interstellar space is the vast mostly emptiness between star systems.   According to NASA, the Voyagers are still technically in our solar system. Scientists maintain the solar system stretches to the outer edge of the so-called Oort Cloud. It will take thousands of years for the spacecraft to get that far.   Despite the great distance, flight controllers are still in contact with Voyager 2.   The Voyagers launched from Cape Canaveral,…


ITU: More Than Half World’s Population Using Internet

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The International Telecommunication Union reports that for the first time in history, half of the global population is using the internet. A new report finds by the end of the year, 3.9 billion people worldwide will be online. The report finds access to and use of information and communication technologies around the world is trending upwards. It notes most internet users are in developed countries, with more than 80 percent of their populations online. But it says internet use is steadily growing in developing countries, increasing from 7.7 percent in 2005 to 45.3 percent this year. The International Telecommunication Union says Africa is the region with the strongest growth, where the percentage of people using the internet has increased from just over two percent in 2005 to nearly 25 percent…


More Than Half the World’s Population is Using the Internet

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The International Telecommunication Union reports that for the first time in history, half of the global population is using the internet. A new report finds by the end of the year, 3.9 billion people worldwide will be online. The report finds access to and use of information and communication technologies around the world is trending upwards. It notes most internet users are in developed countries, with more than 80 percent of their populations online. But it says internet use is steadily growing in developing countries, increasing from 7.7 percent in 2005 to 45.3 percent this year. The International Telecommunication Union says Africa is the region with the strongest growth, where the percentage of people using the internet has increased from just over two percent in 2005 to nearly 25 percent…


US, Western Diplomats See Political Motive Behind OPEC Oil Cut

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Despite repeated calls by U.S. President Donald Trump for oil production to remain steady, the Saudi-led Organization of the Petroleum Exporting Countries, along with Russia and its allies, announced Friday they would cut their pumping of crude to reduce oil flows onto the global market by 1.2 million barrels of per day, a bigger-than-expected cut.    OPEC officials say there was no political motive behind the decision, arguing an oil glut forced the move and that their decision was spurred by oversupply concerns and forecasts for lower demand next year — as well as a surge of shale oil production in the U.S.  Price slide   Oil economists agree that a reduction is needed to stem a further slide in prices, which fell 30 percent in October, and OPEC's decision…


IMF Approves $3.7 Billion Loan for Oil-rich Angola

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The International Monetary Fund says it has approved a three-year loan of about $3.7 billion for Angola, which seeks to diversify its economy and curb corruption after a new president took office last year. The IMF said Friday that the loan aims to help the southern African country restructure state-owned enterprises and take other measures to improve economic governance.   Angola had experienced a surge in growth because of oil exports under former president Jose Eduardo dos Santos, but poverty and cronyism persisted. A fall in commodity prices years ago tipped the Angolan economy into crisis and showed that it was too reliant on oil.     President Joao Lourenco, who succeeded dos Santos, has distanced his administration from his former boss, pledging to fight corruption and meeting with government…


Australia Passes World’s First Encryption-Busting Law

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Security agencies will gain greater access to encrypted messages under new laws in Australia. The legislation will force technology companies such as Apple, Facebook and Google to disable encryption protections to allow investigators to track the communications of terrorists and other criminals. It is, however, a controversial measure. Australian law enforcement officials say the growth of end-to-end encryption in applications such as Signal, Facebook’s WhatsApp and Apple’s iMessage hamper their efforts to track the activities of criminals and extremists. End-to-end encryption is a code that allows a message to stay secret between the person who wrote it and the recipient.  PM: Law urgently needed But a new law passed Thursday in Australia compels technology companies, device manufacturers and service providers to build in features needed for police to crack those…