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UPDATE 1-Blizzard Entertainment cuts punishment for gamer in HK protests row

SHANGHAI/BEIJING, Oct 14 (Reuters) – U.S. games publisher Blizzard Entertainment has reduced the punishment dealt out to a Hong Kong-based Hearthstone esports gamer for his public support of pro-democracy protests after its decision sparked controversy among players and the public. Blizzard Entertainment, a subsidiary of Activision Blizzard which is partly backed by Chinese gaming giant Tencent Holdings, said last week that it would suspend the player Chung “blitzchung” Ng Wai from competition for a year and strip him of prize money after he called for the liberation of Hong Kong in a post-game interview. …read more […]

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Nobel Economics Prize Goes to Trio Focused on Fighting Poverty

(Bloomberg) — Abhijit Banerjee and Esther Duflo of the Massachusetts Institute of Technology and Michael Kremer of Harvard University were awarded the 2019 Nobel Prize in Economics “for their experimental approach to alleviating global poverty.”“The research conducted by this year’s Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research,” according to a statement on Monday.Banerjee, born 1961 in India, got his PhD in 1988 from Harvard University. Duflo, who was born in 1972 in Paris, obtained her Ph.D in …read more […]

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Brazil's truckmakers are optimistic again even as country struggles to grow

Brazil’s largest truckmakers are expressing optimism again about the growth prospects for Latin America’s largest economy, even as the country continues to struggle to rebound from a deep recession that began in 2015. “We are breathing optimism,” said Martin Lundstedt, Volvo Group’s President and CEO, who traveled to Sao Paulo to take part in the biennial Fenatran expo, the largest truck and machinery trade show in the country. “Latin America … is coming back. …read more […]

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U.S. Gets Final OK to Hit EU With $7.5 Billion Airbus Sanction

(Bloomberg) — The World Trade Organization on Monday formally authorized the U.S. to impose tariffs on about $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus SE.Members approved this month’s arbitration award — the largest in the trade organization’s history — at a special meeting of the dispute settlement body at the WTO’s headquarters in Geneva. The development marks the final procedural hurdle before the U.S. can retaliate against European goods, which it plans to do on Oct. 18.The EU made a last-ditch appeal to the U.S. over the weekend to thwart the tariffs, …read more […]

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Oil Drops After Biggest Gain in a Month as Trade Optimism Ebbs

(Bloomberg) — Oil slid after surging the most in almost a month on Friday amid doubts that recent progress in the U.S.-China trade talks will compensate for a worsening global demand outlook.Futures in New York fell as much as 1.4% after gaining 2.2% in the previous session. Washington and Beijing made several concessions to reach a partial trade deal last week, and are aiming for a more comprehensive agreement before the end of the year. Prices gained on Friday as an attack on an Iranian crude tanker in the Red Sea stoked tension in the Middle East.Despite positive momentum in …read more […]

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Barclays’ Deal With Sheikh Makes Me Sick, Banker Said

(Bloomberg) — A group of senior Barclays Plc executives agonized over adding a Qatari royal to a bailout of the bank during the 2008 financial crisis, but it wasn’t enough to kill the deal.The bankers, now facing fraud charges in a London court, were responsible for finding a multi-billion pound lifeline from Qatar to stave off nationalization by the U.K. However, the country’s prime minister, Sheikh Hamad bin Jassim al-Thani, intended to invest personally in exchange for a commission structured as an advisory fee.“It’s like having the president of the United States advise JP Morgan; you just can’t have it,” …read more […]