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Stocks set to open slightly higher amid reports of US-China trade breakthrough

Stocks set to open slightly higher amid reports of US-China trade breakthrough

Finance
U.S. stock futures were slightly higher Thursday, amid reports the U.S. and China have begun outlining a deal to end their protracted trade war. As of 1:45 a.m. ET, Dow futures rose 63 points, indicating a higher open of 78 points. S&P 500 and Nasdaq futures also climbed. Reports early Thursday morning said Washington and Beijing have begun drawing up memorandums of understanding over trade. Officials from both countries met for talks this week and higher-level discussions are set to be held on Thursday and Friday. The U.S. and China are trying to resolve their diff...
Turkey demands China close camps after reports of musician's death

Turkey demands China close camps after reports of musician's death

World
Media playback is unsupported on your device Turkey has called on China to close its detention camps following the reported death of a renowned musician from the ethnic Uighur minority.Abdurehim Heyit is thought to have been serving an eight-year sentence in the Xinjiang region, where up to a million Uighurs are reportedly being detained.A statement from Turkey's foreign ministry said they were being subjected to "torture" in "concentration camps".China described the comments as "completely unacceptable".The Uighurs are a Muslim Turkic-speaking minority based in the north-west Xinjiang region of China, which has come under intense surveillance by Chinese authorities.Their language is close to Turkish and a significant number of Uighurs have fl...
Tesco warns of 'changes' amid reports of jobs cuts

Tesco warns of 'changes' amid reports of jobs cuts

Business
Tesco is "finalising" job cut plans but has declined to comment further.Earlier, the Mail on Sunday reported that the supermarket could cut 15,000 jobs and close some fresh food counters and bakeries.In an internal company email seen by the BBC, its chief operating office said plans were "still being finalised". He also acknowledged that "any changes" would be hard for the people affected and said more information would follow.More than 10,000 jobs have been cut at Tesco since the current chief executive, Dave Lewis, took over in 2014.The UK's biggest grocer is in the midst of trying to save £1.5bn as the competition between supermarkets intensifies. According to the Mail on Sunday, the grocer triggered a review of jobs after a particularly tough Ch...
Reports: Jets expected to hire Adam Gase as next coach

Reports: Jets expected to hire Adam Gase as next coach

Sports
Jan. 9 (UPI) -- Former Miami Dolphins coach Adam Gase is staying in the AFC East for his next coaching gig. Sources told NFL Network and ESPN that the New York Jets are hiring the 40-year-old. Gase owned a 23-25 record in three seasons with the Dolphins. The Dolphins fired Gase on New Year's Eve. Gase led the Dolphins into the playoffs with a 10-6 record in his first season. Miami went 6-10 in 2017 and 7-9 in 2018. The Jets fired coach Todd Bowles on December 30. Bowles posted a 24-40 mark in four seasons with the Jets. Gase entered the NFL coaching ranks as a scouting assistant with the Detroit Lions in 2003. He later served as an offensive assistant and quarterbacks coach with the NFC North franchise before joining the San Francisco 49ers in 2008 as an offensive assistant. Gase worked w...
Mobikwik reports doubling of revenue, but losses keep piling up

Mobikwik reports doubling of revenue, but losses keep piling up

Finance
Gurugram-based digital payments company Mobikwik has doubled its revenue to Rs 85.6 crore in 2018 against Rs 44.3 crore in 2017, even though losses piled up 51 per cent to Rs 200 crore against Rs 132 crore in the same period, as per filings with the corporate affairs ministry and sourced from business intelligence firm Tofler. The company, which competes with the likes of Paytm and PhonePe, has been facing tremendous competition from its rivals in the payments space. Therefore it has made an effort to move on to become a broader fintech player by entering lending and investments as well. “By end of financial year 2019, we are on-track to double our revenues of 2017–18 and halve our losses. October onwards, we became positive on contribution margin, a milestone that no other fin...