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Hate crime levels spike in the wake of terror attacks as police record more victims

“Hate crime rose 29 per cent in the UK following terror attacks earlier this year, the Home Office has said, as higher levels of victim reporting drove figures up” writes Philip Johnston for telegraph.co.uk. It also says that police should not question a victim or witness’s impression that a crime was motivated by hate or prejudice, and that “evidence of the hostility is not required for an incident or crime to be recorded as a hate crime or hate incident”.New hate crime guidance published in 2014 by the College of…

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U.K. Inflation Climbs to 5 1/2-Year High on Food, Transport

“However, retirees will see their pensions rise by at least 3 percent next year, in line with the September inflation rate” writes unknown author for bloomberg.com. The pound erased an advance after the inflation data to trade little changed at $1.3242 as of 11:38 a.m.Increases in oil and petrol prices mean it’s “likely” inflation will climb higher in October, he said in written remarks released just before the latest data.The September inflation rate has traditionally been used to uprate welfare benefits for the following April, but many have been frozen…

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Richemont expects profit to jump in first half

“Swiss luxury goods company Richemont SA (CFR.EB) said Tuesday its first-half earnings are expected to show a strong increase, partly due to exceptional items booked in the same period a year ago” writes Sarah Sloat for marketwatch.com. Richemont’s operating profit for the six months ended Sept. 30 showed an increase of approximately 45% against the comparative period, while net profit for the period is expected to rise by about 80%, the company said.The increases mostly reflect the non-recurrence of the exceptional inventory buybacks in the prior-year period, improved trading performance…

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Inflation rises to 2.2 percent in September, as hurricanes push up gas prices

“Rising inflation is welcome from the perspective of the Federal Reserve, which has been surprised by inflation running below its target for most of the year” writes Joseph Lawler for washingtonexaminer.com. Gas prices rose 13 percent in the month and accounted for three-fourths of the total monthly increase in inflation, according to the agency.On the year, energy prices are up roughly 20 percent.Core inflation, which strips out food and energy prices, held at just 1.7 percent for the fifth month in a row. Source: washingtonexaminer.com Share This:

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S&P 500, Nasdaq hit intraday records as amid lackluster inflation, retail sales data

“The Dow industrials was headed for a 0.4% rise, while the S&P 500 teetered around a 0.1% increase” writes Markets Reporter for marketwatch.com. All three indexes closed lower on Thursday The Dow industrials ended down 0.1%, while the S&P 500 and the Nasdaq both lost 0.2%.The S&P 500 index SPX, +0.22% gained 3 points, or 0.1%, at 2,553, after setting an intraday record at 2,55.80, while the Nasdaq Composite Index COMP, +0.31%  climbed 15 points, or 0.2%, at 6,605, after notching an early intraday all-time high at 6,614.65. Source: marketwatch.com Share…

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Gasoline boosts US consumer prices, but underlying inflation muted

“U.S. consumer prices recorded their biggest increase in eight months in September as gasoline prices soared in the wake of hurricane-related production disruptions at oil refineries in the Gulf Coast area, but underlying inflation remained muted” reports foxbusiness.com. The year-on-year core CPI has now increased by the same margin for five consecutive months.Last month, food prices rose 0.1 percent after a similar gain in August.In the 12 months through September, the core CPI increased 1.7 percent. Source: foxbusiness.com Share This:

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US retail sales surge, driven by autos and gasoline purchases

“Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.4 percent last month after being unchanged in August” reports foxbusiness.com. Retail sales increased 4.4 percent on an annual basis.The rebound in core retail sales suggests the drag on the economy from the hurricanes will probably be modest.These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.Economists polled by Reuters had forecast retail sales jumping 1.7 percent in September. Source: foxbusiness.com Share This:

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Citigroup earnings beat Wall Street, but shares fall on concerns of credit costs

“Citigroup reported better-than-expected quarterly results on Thursday, as its global consumer business showed further revenue growth” writes David Paul Morris for cnbc.com. Here’s how the banking giant’s results fared against Wall Street estimates: But the company’s stock closed 3.4 percent lower as of 3 p.m. in New York, after hitting its highest level since 2008. “Operating expenses were down 2%, while the cost of credit increased 15%, which management attributed to global consumer banking and a higher credit reserve build.”.  Source: cnbc.com Share This:

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Buy Netflix because of its amazing power to raise prices: Bernstein

“Netflix shares have rallied 57.5 percent this year through Wednesday, compared with the market’s 14.1 percent gain” writes unknown author for cnbc.com. Bernstein reiterated its outperform rating on the company’s shares, predicting Netflix will thrive from its recent price increases without any big detrimental effects.”We believe this price increase, sooner than expected, shows Netflix management has reason to be confident in their sub trajectory and price inelasticity.”. Juenger raised his price target for Netflix shares to $230 from $203.Netflix announced last week it is raising prices for some of its…

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John Kelly: Trump would rather get rid of every nuclear weapon than increase arsenal

“NBC News reported earlier this week Trump expressed a desire to increase the American nuclear arsenal tenfold during a July meeting” writes Kyle Feldscher for washingtonexaminer.com. White House chief of staff John Kelly said Thursday President Trump would rather get rid of all the country’s nuclear weapons than increase production of them. “The great thing about our military is it’s a real deterrent factor around the world, whether it’s nuclear deterrent or conventional deterrent,” Kelly said.He said Trump will speak about modernizing and updating the country’s nuclear payload, but he…

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