According to latest figures, the sales of Rolls-Royce luxury cars have been affected by a fall in demand in China.
Rolls-Royce CEO Torsten Muller-Otvos said the turnaround in the market had been unexpectedly fast.
“We have been surprised by the speed of development in the Chinese market in a completely different direction,” he said.
Chinese buyers have been affected by the slump in the stock market, slower growth and a corruption clamp-down.
However, Torsten Muller-Otvos played down fears that recent events in China would last long, forecasting that sales there would recover in the next two years.
“China has never been our number one market. Our number one market is the United States and due to the fact we are properly balanced we can cope with some of the downturn in China,” he explained.
Japan’s stock market closes up almost 8% on September 9 in its biggest one-day jump since late 2008.
Nikkei 225 index closed up 7.71% at 18,770.51 points.
On September 8, the benchmark index saw all the gains it had made this year wiped out.
Remarks by newly re-elected PM Shinzo Abe suggesting company tax cuts were on the way helped the mood.
Also positive were September 8 rebound for US shares and an improving Chinese share market.
Investor sentiment was up across the rest of Asia.
Tuesday’s weak economic data from China has also raised hopes of more stimulus for that economy and its markets.
Hong Kong’s benchmark Hang Seng index finished up 4.1% at 22,131.31 – marking its biggest one-day percentage gain in almost four years.
China’s government said on September 9 that it would strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system to support the economy.
On the mainland, the Shanghai Composite closed up 2.3% at 3,243.09 – moving into positive territory for the year.
In Australia, the S&P/ASX 200 closed up 2.07% at 5,221.10, taking its lead from US markets.
Analysts said resource and commodity shares, together with some of the big bank stocks, had buoyed the Australian index.
Numbers out on September 9 showed consumer confidence slid in September which led to revived hopes of another rate cut by the Reserve Bank of Australia.
South Korea’s Kospi benchmark index also closed up 2.96% at 1,934.20 points. Official data released on September 9 showed the country’s latest unemployment figures for August sitting at their lowest since January this year.
In a “state of the union” annual address in front of the European Parliament, European Commission President Jean-Claude Juncker has announced plans that offer a “swift, determined and comprehensive” response to Europe’s migrant crisis.
Under the proposals, 120,000 additional asylum seekers will be distributed among EU countries, with binding quotas.
It comes after a surge of thousands of mainly Syrian migrants pushed north through Europe in recent days.
Jean-Claude Juncker told the European Parliament it was “not a time to take fright”.
He was heckled by UK anti-European Union politician Nigel Farage, but dismissed his comments as “worthless”.
Germany, the main destination for many migrants, supports quotas, but some EU countries oppose a compulsory system.
Hungary – a key point on a migrant route – has been warned to expect an additional 40,000 migrants by the end of next week.
In a separate development Australia, which has been under pressure to do more to help displaced people, has announced plans to take in more Syrian refugees.
The Australian government said it would accept 12,000 Syrian refugees from persecuted minorities.
During his address, Jean-Claude Juncker outlined the priorities of the European Commission.
He opened his speech by admitting the European Union was “not in a good situation… There is a lack of Europe in this union, and a lack of union in this union”.
He said tackling the crisis was “a matter of humanity and human dignity”.
“It is true that Europe cannot house all the misery in the world. But we have to put it into perspective.
“This still represents just 0.11% of the EU population. In Lebanon refugees represent 25% of the population, which has just a fifth of the wealth of the EU. Who are we to never make such comparisons?”
Among Jean-Claude Juncker’s proposals:
EU member states to accept their share of an additional 120,000 refugees, building upon proposed quotas to relocate 40,000 refugees which were set out in May (though governments then only actually agreed to take 32,000)
A permanent relocation system to “deal with crisis situations more swiftly in the future”
Commission to propose list of “safe countries” to which migrants would generally have to return
Efforts to strengthen the EU’s common asylum system
A review of the so-called Dublin system, which states that people must claim asylum in the state where they first enter the EU
Better management of external borders and better legal channels for migration
“It’s 160,000 refugees in total that Europeans have to take into their arms and I really hope that this time everyone will be on board – no rhetoric, action is what is needed,” Jean-Claude Juncker told the European Parliament.
The proposals will be discussed by EU home affairs ministers on September 14 in Brussels.
The new plans would relocate 60% of those now in Italy, Greece and Hungary to Germany, France and Spain.
The numbers distributed to each country would depend on GDP, population, unemployment rate and asylum applications already processed.
Countries refusing to take in migrants could face financial penalties.
The Czech Republic, Slovakia, Poland and Romania have opposed the idea of mandatory quotas.
On September 8, though, Poland appeared to soften its position. PM Ewa Kopacz said Poland would accept more migrants than the 2,000 it first offered to take.
Germany has welcomed Syrian migrants, waiving EU rules and saying it expects to deal with 800,000 asylum seekers this year alone – though not all will qualify as refugees and some will be sent back.
The mass migration has seen those seeking an end to persecution, conflict and hardship travel by boat, bus, train and on foot, from Turkey, across the sea to Greece, through Macedonia and Serbia, and then to Hungary from where they aim to reach Austria, Germany and Sweden.
Democrat presidential hopeful Hillary Clinton has apologized for her use of a personal email account for official business whilst secretary of state between 2009 and 2013.
In a Facebook post, Hillary Clinton wrote she was “sorry” and had made a “mistake”.
The former secretary of state’ use of private email has generated a barrage of criticism as Hillary Clinton runs for the Democratic presidential nomination for the 2016 election.
Critics say that her set-up was not secure, contrary to government policy, and meant to shield her from oversight.
Hillary Clinton apologized for the first time for using a personal account during an interview on September 8.
“That was a mistake. I’m sorry about that. I take responsibility, and I’m trying to be as transparent as I possibly can,” she told ABC news.
On her Facebook page Hillary Clinton wrote: “Yes, I should have used two email addresses, one for personal matters and one for my work at the State Department. Not doing so was a mistake. I’m sorry about it, and I take full responsibility.”
Hillary Clinton continued to deny that she had broken any government rules or laws. She wrote that “nothing I ever sent or received was marked classified at the time”.
Political analysts – including fellow Democrats – have said the Clinton campaign has stumbled in its response to the controversy and Hillary Clinton had not seemed contrite – at times even making jokes about the email issue.
It has been a major issue in the presidential race. Polls show an increasing number of voters view her as “untrustworthy” due in part to the questions surrounding her email use.
Under US federal law, officials’ correspondence is considered to be US government property.
Government employees are encouraged to use official email accounts although some top officials have used personal accounts in the past.
The State Department has been investigating Hillary Clinton’s use of a personal email server.
In March, Hilalry Clinton said she and her lawyers made the decision over what would be considered work-related email when the state department asked for records from former secretaries of state.
The emails deemed work-related were about half of the 60,000 emails she sent in total during her time in office. The emails she deemed personal were deleted, Hillary Clinton said.
Since then, the State Department has been releasing the emails to the public in batches about once a month. Some of these emails have been censored by the department as they contain classified information.
Yusufu Mieraili, a key suspect in the last month’s Bangkok shrine bombing, has confessed to giving a bag containing a device to the man who carried out the attack, Thai police say.
National police spokesman Prawut Thavornsiri’s announcement came as Yusufu Mieraili was taken to a train station in Bangkok to re-enact the alleged handover.
The August 17 bomb attack at the Erawan Shrine killed 20 people.
Two foreign men are in custody, but the bomber himself has not been found.
The man, wearing a yellow T-shirt, was seen placing a backpack at the popular shrine and leaving, shortly before the explosion.
Prawut Thawornsiri told reporters at the Hua Lamphong station in Bangkok: “This is the area where he met the man in a yellow shirt to exchange the backpack.”
Photo Reuters
“Yusufu said the backpack that he carried was heavy and it was a bomb,” he said.
The suspect had allegedly told police that he travelled to the station from an apartment in the outskirts of Bangkok where police had found bomb-making materials in an earlier raid.
Yusufu Mieraili, who has not been charged, was intercepted earlier this month as he attempted to cross the border into Cambodia.
Police have not confirmed his nationality but say he was carrying a Chinese passport.
Yusufu Mieraili was also taken to the Erawan Shrine as part of a police re-enactment, according to AP news agency.
On September 8, the suspect was taken to visit apartments in other parts of Bangkok where police said they found the bomb-making materials as well as passports.
Thailand’s police regularly conduct re-enactments with suspects, a practice which has been criticized as implying guilt before trial.
The other man in custody has been named by local media as Adem Karadag.
Local media have quoted police sources as saying that they are hunting for the alleged mastermind of the attack, who is thought to have left Thailand a day before the attack.
Police also released a photo of the man, who was named as 27-year-old Abudureheman Abudusataer, also known as “Izan” or “Ishan”.
A British Airways plane has caught fire at McCarren International Airport in Las Vegas, forcing the evacuation of 172 people on board on emergency slides.
Airport officials said at least 13 people were taken to hospital with minor injuries.
FAA spokesman Ian Gregor said the left engine of the Boeing 777-200 caught fire before take-off.
The plane was seen engulfed in flames and smoke. The fire was later put out.
The pilot later told passengers that the accident was the result of a “catastrophic failure of the engine”, reports the Guardian‘s Jacob Steinberg, who was onboard the plane.
Flight 2276 was bound for London’s Gatwick airport.
Photo AP
There were 159 passengers and 13 crew members on board.
The airport tweeted: “Received first call at 4:13 PM; flames were spotted at 4:14, and by 4:14 response was underway.”
It added: “@LASairport had the fire out and all passengers off BA flight by 4:18 PM – excellent work by our ARFF team.”
Airport officials said at least 13 people were taken to the city’s Sunrise hospital, most of them with injuries sustained while sliding down inflatable chutes during the evacuation.
Some of those on board said there was smoke in the cabin as one exit was opened and immediately declared unsafe.
An investigation into the blaze is now under way.
Officials later said one runway was shut down, but three others continued to operate.
Queen Elizabeth II will become UK’s longest-reigning monarch on September 9 when she passes the record set by her great-great-grandmother Queen Victoria.
Queen Elizabeth II, 89, will have reigned for 63 years and seven months – calculated at 23,226 days, 16 hours and approximately 30 minutes at about 17:30 BST.
UK’s PM David Cameron will lead tributes in the House of Commons and there will be a River Thames salute.
The Queen will spend the day on official duties in Scotland.
The exact moment Queen Elizabeth reaches the milestone is not known because her father, George VI, passed away in the early hours of February 6, 1952.
On the Thames, a flotilla of historic vessels, leisure cruisers and passenger boats will take part in a procession between Tower Bridge and the Houses of Parliament.
The bridge will lift as a sign of respect and HMS Belfast will sound a four-gun salute.
The BT Tower in central London will scroll the message “Long may she reign”.
PM David Cameron paid tribute to the Queen at a cabinet meeting on September 8, saying she had a “remarkable record” and was “a symbol of Britain’s enduring spirit admired around the world”.
Buckingham Palace has released an official photograph to mark the occasion, taken by Mary McCartney in the Queen’s private audience room.
This is where the Queen holds weekly audiences with prime ministers of the day, and receives visiting heads of state and government.
It is understood that September 9 will be a normal working day for Queen Elizabeth with no special celebration.
The Queen will be joined by the Duke of Edinburgh to open the Scottish Borders Railway and make a steam train journey with Scotland’s First Minister Nicola Sturgeon.
She is taking her traditional summer break at this time of year at her private Scottish home, Balmoral.
Queen Victoria became queen at the age of 18 and ruled for 63 years, seven months and two days.
Queen Elizabeth’s reign has included 12 prime ministers, two more than served under Victoria.
Oregon Trail Screenshot by The Pug Father from Flickr Creative Commons.
Digital gaming has come a long way since the days of Oregon Trail. Thanks to cloud computing and mobile devices, games pack in a lot more action and a lot less dysentery.
So what’s next for mobile cloud gaming? The answer: exciting things. Professors from the University of British Columbia and China’s Huazhong University of Science and Technology have teamed up to deliver their predictions about Mobile Cloud Gaming: the Next Generation.
1. Dynamic Cloud Integration
One of the biggest drawbacks of mobile gaming is the bandwidth required to execute complex visuals. It’s not such a big deal when you’re using a Wi-Fi connection, but over a cellular connection, data gets expensive. In a mobile browser game, heavy resource usage eats up battery life. Dynamic cloud integration finds a happy medium between bandwidth and battery by optimizing where game components run.
When it’s most efficient for game components to run locally, the cloud server onloads certain functions to the device. Dynamic cloud integration will provide ways for the mobile client the flexibility to offload functions back to the cloud. Meanwhile, both the cloud server and the device constantly monitor usage to deliver optimal resource usage. Players get better performance and longer periods of play.
2. Cross-Platform Gaming
Cloud computing already makes it possible to save games and play the saved game on a different device. Cross-platform gaming will improve to the point that switching from a desktop to mobile device becomes seamless.
In the future, every mobile game, as part of its standard feature set, will optimize saved games for different screen resolutions and device inputs. Online attackers will also learn to optimize malware for seamless transition within the gaming environment, making Android security more important than ever.
3. Context-Aware Gaming
With context-aware gaming, your mobile device uses its GPS, camera, accelerometer, and other elements to adapt an existing game to elements of your surroundings. Imagine sitting in the passenger seat and playing a simple game like Traffic Racer, in which you’re racing down terrain similar to the terrain surrounding you, or playing a game that changes based on multi-player inputs and the surroundings of different players.
Based on time of day, location, and your movements, your games will automatically deliver novel elements. A wave of your hand will release a magic spell. Game elements will respond to physical manifestations of your state of mind, like elevated heart rate and rapid breathing. One classic example of context-aware gaming is the 2003 release Mogi, which let players scavenger hunt for virtual objects within their existing physical environments.
4. Augmented Reality
Google Glass image by Michael Praetorius
Imagine donning your Google Glass and playing a hands-free game while seeing either a live or indirect view of the real world. If you’re coordinated enough, you’ll be able to play your game while walking to work — without walking into a lamppost.
Now, imagine walking to work and staring not at the people around you but at a gamified version of reality. For example, the game Human Pacman superimposes dots, power pellets, and scrumptious floating fruit within your normal field of vision. Your movements, including movements of your head, determine where Pacman goes next.
Augmented gaming, which incorporates many context-aware elements, will transform the world as you see it into a video feed. In a virtual sense, you’ll eventually be able to punch the person who cut in front of you at Starbucks — accompanied by your own theme music and a balloon that says “KAPOW!” — without moving anything but eye muscles.
5. Multi-Player Cloud Gaming
Desktop computers and consoles offer plenty of multi-player gaming opportunities. Games like Minecraft Pocket Edition allow players sharing a mobile LAN to interact within different worlds. As cloud gaming technology and streaming become more sophisticated, you’ll play mobile multi-player scenarios not only with the person sitting next to you but also with people all over the world.
All Hail the Future
Thanks to the cloud, mobile gaming requires only a thin client, has access to unlimited resources, and allows for seamless play across many devices. Next-gen cloud gaming advances will reduce network dependence, lower bandwidth consumption, and overcome limited mobile browser resources.
As cloud and mobile device advancements make gaming more immersive and less screen dependent, the whole world becomes a stage for a game. Let’s just hope when you catch dysentery in Future Mobile Oregon Trail, it’s not a context-aware development.
Oregon Trail Screenshot by The Pug Father from Flickr Creative Commons.
Woman using computer and mobile devices image by Antonio Guillem from Shutterstock.
Google Glass image by Michael Praetorius from Flickr Creative Commons.
Chinese government officials have canceled Bon Jovi’s first ever concerts in China.
No reason was given, but media reports suggest that censors discovered Bon Jovi had used an image of the Dalai Lama as a backdrop at a gig five years ago.
China has previously banned artists like Bjork, as well as academics and politicians, who have shown support for the Dalai Lama or Tibetan independence.
Maroon 5 recently had shows canceled.
The band were also due to perform in China this month. The cancelation of their concerts was linked to a band member tweeting the Dalai Lama to wish him happy birthday in July.
Bon Jovi had been due to play Shanghai and Beijing next week.
According to the Financial Times, China’s Culture Ministry acted after discovering Bon Jovi had performed in front of a picture of the Dalai Lama at a 2010 concert in Taiwan, and had previously tweeted about the spiritual leader.
It said concert organizers AEG were trying to convince officials to relent, but they felt the chances were slim.
Bjork was banned from China for life after she chanted “Tibet, Tibet” during her song Declare Independence at a concert in Shanghai in 2008.
Linkin Park were barred in 2011 after they attended a youth media conference in Los Angeles and were photographed with the Dalai Lama.
UK’s PM David Cameron also sparked an angry response from Chinese officials when he met with the exiled Tibetan spiritual leader in 2012.
Leaders in China have called the Dalai Lama a “splittist” and a “wolf in monk’s robes”.
The issue of Tibet is said to be especially sensitive at the moment ahead of the 50th anniversary of the founding of the Tibet Autonomous Region.
A top Chinese official vowed on September 7 to “crack down on separatist forces” in Tibet and “fight a protracted battle” against the “Dalai clique”.
Announcing the Bon Jovi shows earlier this year, Jon Bon Jovi had said he was “excited” to be performing in Beijing for the first time ever.
In a recent interview with Chinese state media Jon Bon Jovi described the band’s music as being about “individual freedom and expression”.
Last month, Jon Bob Jovi even recorded a cover of The Moon Represents My Heart, arguably the most famous Chinese love song ever.
The city of Baltimore announces it has reached a proposed $6.4 million wrongful death settlement with Freddie Gray’s family.
Six Baltimore police officers face criminal charges for the death of 25-year-old Freddie Gray, who died of a critical spine injury while in police custody in April.
Riots, looting and violence shook the city in the days following the black man’s death.
Baltimore will propose the settlement to its Board of Estimates on September 9.
Freddie Gray was in the back of a prisoner transport van when he was injured.
The man’s death is of one of several involving black Americans and police which has spurred national debate, unrest and various social justice movements.
Baltimore police have admitted Freddie Gray was not secured by a seatbelt, as required by law, and he was denied medical attention while in the van.
The settlement would “resolve all civil claims related to the City of Baltimore, the Baltimore Police Department, individual Baltimore Police offers and any other persons or institutions who might be deemed responsible for the death of Mr. Gray,” according to a statement from Baltimore Mayor Stephanie-Rawlings Blake.
The payment does not resolve any “factual disputes” surrounding his death and does not admit liability or fault on the part of the city or the police department, the statement added.
It is not a judgement on the guilt or innocence of the officers facing trial, said Stephanie Rawlings-Blake.
The total payment being proposed for Freddie Gray’s case is more than the total paid out by the city for more than 120 other lawsuits against the Baltimore Police Department since 2011, the Baltimore Sun reports.
The police officers facing criminal charges ranging from false imprisonment to involuntary manslaughter have pleaded not guilty.
Walter Palmer, who generated an outcry after killing Cecil the lion in Zimbabwe, has returned to his dental practice in Minnesota after weeks in hiding.
The dentist arrived at work at 07:00 local time where a throng of media and a few protesters awaited him.
Employees were seen escorting Walter Palmer and patients into the surgery, as photographers swarmed the office.
In recent interviews, Walter Palmer has claimed that the hunt was legal and that he was shocked to hear the animal was famous.
Police were present as Walter Palmer parked his vehicle on a nearby street and walked into his office in Bloomington, Minnesota. A staff member clutched his arm as the pair pushed past a group of journalists.
One woman could be heard screaming “Extradite Palmer!”
Walter Palmer, 55, did not speak to the media on September 8, but did give an interview to the Minneapolis Star Tribune on September 6.
“I need to get back to treating my patients,” Walter Palmer said.
“My staff and my patients support me, and they want me back. That’s why I’m back.”
The killing of Cecil in July prompted a global uproar, which Walter Palmer has claimed led to “some safety issues” for his family.
Walter Palmer’s clinic and his home in nearby Eden Prairie became the site of protests, and his holiday home in Florida was vandalized.
Police did not consider the protesters.
Walter Palmer is believed to have been paid $50,000 to hunt a lion in Zimbabwe’s largest game reserve, but he says he was unaware it was so famous.
“If I had known this lion had a name and was important to the country or a study obviously I wouldn’t have taken it,” he said.
“Nobody in our hunting party knew before or after the name of this lion.”
Cecil was well known in the Hwange National Park and was being tracked with a GPS collar as part of a research program run by Oxford University.
The Zimbabwe’s safari organization has said the way in which Cecil was lured out of a national park was unethical and possibly illegal.
Initially, Zimbabwe sought to charge and extradite Walter Palmer, but the government’s interest in him has waned in recent weeks.
The Associated Press reported that government officials fear it could hamper a hunting industry that is lucrative and important for Zimbabwe.
Sam Smith will sing the theme tune for the next James Bond movie, Spectre, the singer has confirmed in a radio interview.
The song, called Writing’s On The Wall, has been co-written by Sam Smith and was recorded in January.
Spectre will be released in the US on November 6.
On September 7, Sam Smith posted a photograph of his hand wearing a ring with the movie’s Spectre logo on it.
Writing’s On The Wall will be available to buy and stream from September 25.
The song was also co-written by Jimmy Napes who has previously collaborated with Sam Smith on tracks including Stay With Me and Lay Me Down.
Previous James Bond themes have been sung by Adele (Skyfall), Madonna (Die Another Day), Sheryl Crow (Tomorrow Never Dies) and Shirley Bassey (Goldfinger, Diamonds Are Forever and Moonraker).
Vatican is going to make it easier for Roman Catholics to get annulments and remarry within the Church, Pope Francis’ new reforms have revealed.
The Catholic Church does not recognize divorce, teaching that marriage is forever.
In order to separate, Catholics must have their marriage annulled by showing it was flawed from the outset.
The radical reforms allow access to procedures free of charge and fast-track decisions, as well as removing automatic appeals.
Photo Reuters
Until now the procedures have been seen as arcane, expensive and bureaucratic.
Catholics seeking an annulment previously needed approval from two Church tribunals. The reforms will reduce this to one, although appeals will still be allowed.
The new fast-track procedure will allow bishops to grant annulments directly if both spouses request it.
Because annulment procedures are complicated, couples normally require experts to guide them through, meaning that gaining one can be expensive.
Without an annulment, Catholics who divorce and marry again are considered adulterers and are not allowed to receive communion.
In 2014, Pope Francis set up a commission of church lawyers and clerical experts to look at how to streamline the procedure.
Writing about the changes, Pope Francis said it was unfair that spouses should be “long oppressed by darkness of doubt” over whether their marriages could be annulled.
Tesco has sold its South Korean Homeplus stores, for £4.2 billion ($6.7 billion) as the troubled supermarket chain seeks to shore up its balance sheet.
The proceeds will be used to pay down debt and help revitalize Tesco’s UK business.
Tesco is the UK’s biggest supermarket chain and the world’s third largest retailer after Wal-Mart and Carrefour.
Homeplus is being bought by MBK Partners, a South Korean buyout company set up a decade ago.
It has partnered with a Canadian pension fund and Singapore’s Temasek Holdings for the deal.
Dave Lewis, chief executive of Tesco, said: “This sale realizes material value for shareholders and allows us to make significant progress on our strategic priority of protecting and strengthening our balance sheet.”
After tax and other costs the sale will produce £3.35 billion ($5.6 billion) in cash for Tesco and is expected to be completed before the end of the year.
The Homeplus deal is the first major disposal since Tesco reported a record pre-tax loss of $10.2 billion for the year to February.
That compared with annual pre-tax profit of $3.36 billion a year earlier.
It was the biggest loss reported by a UK retailer and one of the largest in the country’s corporate history.
Tesco has faced challenges on several fronts in recent years.
Hard discounters such as Aldi and Lidl have been eroding the market share of the big four supermarket chains, while Tesco has struggled with excess floor space in out-of-town superstores.
Shoppers have moved away from doing one big weekly shop at such stores in favor of topping up more frequently from high street convenience stores.
Homeplus has 140 hypermarkets, 375 supermarkets and 327 convenience stores.
The MBK Partners consortium said it planned to invest 1 trillion won ($874 million) in Homeplus over the next two years to increase its competitiveness.
Japan’s shares lost this year’s gains after Nikkei index fell below 17,450.77 points on September 8.
Japan’s benchmark index finished the day down 2.43% at 17,427.08 points.
Analysts said investors were concerned about China’s economy following latest trade numbers released on September 8.
Investors also reacted to Japan’s revised growth numbers released earlier which analysts said had not eased concerns about the state of the country’s economy.
Japan’s economy contracted 0.3% during the quarter, compared with original calculations of a 0.4% contraction.
Photo Wikipedia
The revision beat market expectations, which were for a contraction of 0.5%, but did little to calm investors.
The world’s third largest economy also revealed a revised fall in private consumption on September 8 to 0.7% from a previous estimate of 0.8%.
Japan relies on domestic consumption for about 60% of its economy. However, it has been adjusting to the impact of a sales tax rise which has dampened spending.
Chinese shares rallied to close higher after a surge in late afternoon buying by bargain hunters helped reverse earlier losses.
The Shanghai Composite finished up 2.9% at 3,170.45, while Hong Kong’s Hang Seng index was up 3.3% at 21,259.04.
Investors ignored trade data that showed China’s imports in August fell 14.3% in yuan-denominated terms from a year ago, while exports fell by 6.1%.
The steep fall in the value of imports, which was greater than expected, reflected lower commodity prices globally, particularly crude oil.
In Australia the S&P/ASX 200 closed up 1.69% at 5,115.2 points.
Energy stocks were boosted as investors reacted to news that Australian energy giant Woodside Petroleum had made an estimated $11.65 billion Australian dollars ($8.1 billion) bid for Oil Search as it looks towards Papua New Guinea’s (PNG) market.
Australian-listed shares in Oil Search, which is an oil and gas exploration firm with most of its assets in PNG, rose as much as 17% on the news, though Woodside’s slid more than 3%.
South Korea’s Kospi benchmark index closed down 0.24% at 1,878.68 points.
According to latest trade figures, China’s August imports fell 14.3% in yuan-denominated terms from a year ago, while exports fell by 6.1%.
The steep fall in the value of imports reflects lower commodity prices globally, particularly crude oil.
The numbers mean China’s monthly trade surplus expanded by close to 40% from the month earlier to 368 billion yuan ($57.8 billion).
China recently revised down its 2014 economic growth from 7.4% to 7.3%, its weakest for almost 25 years.
In US dollar denominated terms, exports for the month of August fell 5.5% from a year earlier – slightly less than expected – while imports fell by 13.8%, leaving China with a surplus of $60.24 billion.
Currency conversion factors based on US dollar and Chinese yuan movements over the last year mean some official numbers from the mainland are now reported in both currencies.
A fall in both import and export figures had been expected as China’s economy slows, though analysts said the drop in imports was greater than forecast.
North Korea and South Korea have agreed to hold reunions for families separated by the Korean War, according to Seoul government.
The family reunions will take place in October at the Diamond Mountain resort in North Korea.
The decision follows an agreement last month that de-escalated tensions sparked by a border mine explosion that injured two South Korean soldiers.
Thousands of Korean families have been separated with little or no contact since the war ended in 1953.
The highly emotional reunions of family member who have not seen one another in decades have been infrequent, and depend hugely on the state of relations on the Korean peninsula.
The reunions, which started in 1988, used to be annual but have often been canceled in recent years as relations frayed. The last round was held in February 2014.
About 66,000 South Koreans remain on the waiting list to see their relatives, many in their 80s and 90s.
The upcoming reunions, slated to be held at the Diamond Mountain resort in Mount Kumgang from October 20 to 26, will see 100 people from each side selected.
The decision came after Red Cross officials from both Koreas held talks earlier this week at the border village of Panmunjom.
Communication between relatives across the border is highly restricted and almost non-existent.
Italy’s Court of Cassation has criticized “glaring errors” in the investigation into the 2007 murder of British student Meredith Kercher.
The highest appeals court acquitted Amanda Knox and her ex-boyfriend Raffaele Sollecito of the murder in March.
The court said there was an “absolute lack of biological traces” of either defendant in the room where Meredith Kercher was killed or on her body.
Meredith Kercher, 21, was stabbed to death in a Perugia flat she shared with Amanda Knox.
The Court of Cassation published its reasoning on September 7, as it is required to do under Italian law.
It issued a damning assessment of the quality of the prosecution case, saying its high profile nature had an effect on investigators.
“The international spotlight on the case in fact resulted in the investigation undergoing a sudden acceleration,” the court said.
Several mistakes in the investigation were outlined by the court in its reasoning, including the fact that investigators burned Amanda Knox’s and Meredith Kercher’s computers, which could have yielded new information.
The court also wrote that the Florence appeals court which convicted Amanda Knox and Raffaele Sollecito last year ignored expert testimony that “clearly demonstrated possible contamination” of evidence and misinterpreted findings about the knife allegedly used to slit Meredith Kercher’s throat, in what prosecutors had described as a s**ual assault, AP reports.
“The kitchen knife, found in Sollecito’s house and the supposed crime weapon, was kept in an ordinary cardboard box,” the judges noted, adding that no traces of blood were found on it.
The judges said that one of Meredith Kercher’s bra clasps, which prosecutors argued carried a trace of Raffaele Sollecito’s DNA, was left on the floor of the murder scene for 46 days, and then “was passed from hand to hand of the workers, who, furthermore, were wearing dirty latex gloves”.
Another man, Rudy Hermann Guede, born in Ivory Coast, was convicted of murder in a separate trial and is serving a 16-year sentence.
The court’s ruling against Rudy Hermann Guede stated that he did not act alone, but the acquittals of Amanda Knox and Raffaele Sollecito mean that no-one now stands convicted of acting with Guede to kill Meredith Kercher.
Toshiba has posted a net loss of 37.8 billion yen ($318 million) for the year to March.
The delayed result follows the sale of its stake in Finnish company Kone, in a bid to bolster its bottom line amid a recent accounting scandal.
The sale of the 4.6% stake in the lift manufacturer was worth $946.2 million.
Toshiba’s president and vice-president resigned in July after an independent panel found the company had overstated profits for the past six years.
The panel said operating profits had been overstated by $1.22 billion, roughly triple an initial estimate by Toshiba.
Toshiba has apologized to investors and has made attempts to avoid further accounting irregularities.
The company said in a statement that “while the US economy had lost some momentum… the UK had witnessed a strong performance and the eurozone had sustained a gradual recovery”.
Toshiba also said that despite China’s slowdown, solid growth had been seen in South East Asia and India.
During a news conference after the earnings were released, Toshiba also announced that it had decided there was no need to write down the value of its US nuclear operation, Westinghouse.
The accounting scandal had raised concerns that it was overestimating the value of the business.
Toshiba chief executive Masashi Muromachi also said that he was considering a “bold restructuring” of its semiconductor business by the end of the year.
The full-year results posted on September 7 had been delayed twice.
Toshiba shares rose on the earnings by as much as 3.5%, closing higher by 1.8% in Tokyo.
HTC has been dropped from Taiwan’s TSWE 50 index, following a 66% slide in its share price this year.
The collapse in HTC’s share price means it is not big enough to be included in Taiwan’s TWSE 50 Index.
In June, the smartphone maker said Q2 2015 revenues had halved from the same period last year, resulting in an operating loss of 5.1 billion Taiwanese dollars ($155 million).
Last month, HTC said it would cut 15% of its global workforce.
HTC’s share price is now less than the amount of cash it holds on deposit, which means investors consider the rest of the company to be, in theory, worthless.
Dropping out of the TWSE 50 index may push the share price even lower, as foreign investors are reluctant to hold shares not listed on the main Taiwan index.
HTC was founded in the 1990s and started out manufacturing notebook computers and some of the first touch handheld devices. It also made the world’s first Android smartphone.
Photo HTC
It has been outgunned at the top end of the smart phone market by Apple, Samsung and LG.
Many blame the outcome on the massive advertising budgets of the market leaders. Samsung alone spent over $60 million on marketing the launch of its new Galaxy S6 smart phone, roughly the same as HTC’s entire annual marketing budget.
Meanwhile, Chinese makers such as Xiaomi and Lenovo have squeezed it at the cheaper end.
Analysts complain that HTC has not innovated enough, claiming for instance that its new HTC One M9 smart phone is almost identical to its former M8.
However, HTC has not been slow to launch new products. It has a fitness tracker called the Grip and recently launched active earphones.
Hours before the Taiwanese stock exchange announced HTC’s ejection from the TWSE 50, the company launched the latest of its Desire smartphone range, the 728, in China.
HTC is also attracting attention with the launch of its virtual reality headset Vive at the end of the year. The company says more than 1,000 developers are working with it on content creation for gaming, entertainment and education apps.
Cher Wang, chairwoman and chief executive of HTC, said: “While the current market climate is challenging, I firmly believe the measures we are putting in place to streamline our operations, improve efficiency and focus, and increase our momentum will start to show results over the coming quarters.”
While HTC is out of the TSWE 50, it will be listed in the smaller Mid-Cap 100 Index, which contains 100 companies, but only 20% of the value of the whole market.
War Room has topped the North American box office chart over the weekend.
The movie about the power of prayer, made by Christian film-makers with an all-Christian cast, cost $3 million to make and earned $9.3 million between Friday and Sunday.
War Room marks the acting debut of Priscilla Shirer, a spiritual speaker and author.
Straight Outta Compton, a biopic of rap group NWA, fell one place to No 2 after spending three weeks in the top spot.
War Room was written and directed by Alex and Stephen Kendrick, who have been dubbed “the Spielbergs of Christian cinema” by Variety magazine.
Straight Outta Compton made $8.9 million on its third weekend in US and Canadian cinemas, according to studio estimates.
A Walk in the Woods, an adaptation of a book by travel writer Bill Bryson starring Robert Redford and Nick Nolte, is ranked third with $8.1 million.
Mission: Impossible – Rogue Nation was fourth in this week’s chart, followed by new release The Transporter: Refueled.
The weekend was also a significant one for dinosaur blockbuster Jurassic World, which has now made more than $1 billion outside North America.
Jurassic World is the fourth film to achieve this feat, after Avatar, Titanic and this year’s Fast & Furious 7, according to Hollywood Reporter.
German Chancellor Angela Merkel has said the “breathtaking” flow of migrants into her country will “occupy and change” Germany in the coming years.
Angela Merkel said Germany would speed up asylum procedures and build extra housing, but called on other EU states to help.
In the same time, President Francois Hollande said France would take 24,000 refugees and that quotas for EU states to relocate 120,000 migrants were being planned.
Meanwhile, the flow of migrants across Europe shows no sign of easing.
On September 7, large numbers of people were reported to be streaming into Hungary across its southern border with Serbia.
Spanish newspaper El Pais reported on September 7 that 120,000 migrants will be resettled under the proposals, on top of the 40,000 already agreed.
The 160,000 are said to include 66,000 who have arrived in Greece, 54,000 in Hungary and 40,000 in Italy.
Thousands of migrants who had arrived in Hungary made their way through Austria to Germany over the weekend. Those arriving at Munich station were cheered by locals.
Angela Merkel thanked volunteers who had helped and welcomed those arriving, saying they had “painted a picture of Germany which can make us proud of our country”.
However, she said that although Germany was “a country willing to take people in”, it was “time for the European Union to pull its weight”.
Germany – which expects 800,000 asylum requests this year – could face costs of €10 billion next year because of the influx, she added.
New quotas drawn up by the European Commission are set to be unveiled on September 9.
Walter Palmer, who sparked an international outcry after killing Cecil the lion in Zimbabwe, has said he did nothing wrong and is planning to return to work this week.
Speaking in his first interview since the July killing of Cecil, Walter Palmer said he had been unaware of the lion’s significance.
The Minnesota dentist also revealed that there had been “some safety issues” for his family.
Zimbabwe has said it wishes to extradite and prosecute Walter Palmer.
Speaking publicly for the first time about the incident, Walter Palmer told the Associated Press and Minneapolis Star Tribune acted legally, but said that if he had known who the animal was he would not have killed it.
“If I had known this lion had a name and was important to the country or a study obviously I wouldn’t have taken it,” Walter Palmer said.
“Nobody in our hunting party knew before or after the name of this lion.”
Walter Palmer, 55, admitted that he wounded the lion with an arrow but denied that it had subsequently taken 40 hours to track down and kill it. He also denied claims by the Zimbabwean authorities that it had been killed by a gun, saying that an arrow had been used.
The dentist is believed to have paid $50,000 to hunt a lion in Zimbabwe’s largest game reserve.
Walter Palmer was forced to cease working following protests outside of his dentistry practice.
He says he intends to return to work because “my staff and my patients support me and they want me back”.
However, Walter Palmer denied that he had been forced into hiding for his own safety.
“I’ve been out of the public eye. That doesn’t mean I’m in hiding,” he said.
“I’ve been among people, family and friends.”
Walter Palmer did reveal that his wife and daughter had faced intimidation.
“They’ve been threatened in the social media, and again … I don’t understand that level of humanity to come after people not involved at all,” he said.
An avid hunter who had previously visited Zimbabwe four times, Walter Palmer did not rule out returning to the country.
“I don’t know about the future,” he said.
“Zimbabwe has been a wonderful country for me to hunt in, and I have always followed the laws.”
Before you invest your money, you need to think about what the wisest investment to make is. Here are some of the best investment options this year.
Mutual Funds
Mutual funds are good for beginners because you don’t have to take any big risks or decisions for yourself. Mutual funds pool together the money of many different investors and then the manager running the operation will invest that cash in bonds and different stocks. It takes out a lot of the risk involved in investing.
You should make sure you check out the experience and track record of the manager before you invest though. Some mutual funds are managed passively and other actively. Actively managed funds are the best option because the manager reacts to trends in the market to find the best results.
Gold
Gold is like a port in the storm. It’s the best investment option for people who don’t like the risks of investing but still want the rewards. Gold goes up and down in value the same as other types of investment. But it’s nowhere near as volatile as other types of investment. This means you won’t lose huge amounts of money if you invest in gold.
Other types of precious metals like silver and platinum are good for investing in as well. If you’re going to invest in silver, make sure it’s 90% Silver. That is the best form of silver to invest in at the moment. Platinum is doing very well on the market at the moment, so don’t rule out that option either.
Stocks
Buying stocks and shares is the most conventional and straightforward form of investment. Playing the stock market isn’t for everyone. You have to be attentive and on the ball at all times. You need to monitor the market and adjust your investments accordingly. This can make it a lot of fun as well though.
When you’re starting out, it’s important to remain cautious. Don’t be tempted to put all your money into one company. You should spread your investments so that you don’t run the risk of losing your cash if they company fails. By spreading your investments across various companies, you’ll be able to handle setbacks.
Investing in property takes time and effort, but it can be hugely rewarding as well. You have to start by finding the right property to buy. It should be something with a lot of potential and pulling power on the market. Having said that, it doesn’t need to be in great shape. Look for rough diamonds that you can improve and sell on at a profit.
Once you have your first home bought and renovated, you can rent it out, or you can sell it on immediately. When you have the taste for it, you’ll probably want to go back for more. As your confidence grows, you’ll be able to build up a solid portfolio and make a lot of money in the process.
These options are the best forms of investment in 2015, so think about which one is best for you.
Saudi Arabia government has decided to cut spending and delay some state projects after the recent decline in the price of oil, Finance Minister Ibrahim al-Assaf has announced.
Talking to broadcaster CNBC Arabia, Ibrahim al-Assaf said Saudi Arabia was in a good position to manage low oil prices.
Saudi Arabia, the world’s largest oil exporting country, has maintained its production levels despite a collapse in the price of oil.
Oil is trading at less than $50 per barrel, half the price of a year ago.
“We have built reserves, cut public debt to near-zero levels and we are now working on cutting unnecessary expenses while focusing on main development projects and on building human resources in the kingdom,” Ibrahim al-Assaf said in the interview.
Some areas of the economy will still receive investment, the finance minister said, as Saudi Arabia tries to improve industries outside energy.
“Projects in sectors such as education, health and infrastructure are not only important for the private sector but also for the long-term growth of the Saudi economy,” he said.
Ibrahim al-Assaf did not give details of where cuts would happen.
It may issue bonds, or Islamic bonds known as sukuk to finance some spending, Ibrahim al-Assaf said.
The kingdom of Saudi Arabia has more than $600 billion in reserves it can draw upon should expenditure outstrip income from oil exports.
