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Second Philippine mayor shot dead in two days

(CNN)A second town mayor in the Philippines has been shot and killed by an unknown assailant, a day after one was assassinated by a sniper in a brazen daylight attack. “We assure everyone that we would discharge the state obligation for every murder. We will spare no effort in getting to the bottom of this latest violent crime,” presidential spokesperson Harry Roque said. The killing comes just over 24 hours after Tanauan City Mayor Antonio Halili was killed by a single shot to the chest while attending a flag-raising ceremony.…

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The Hedge Fund Summer Reading List

It’s that time of year again: summer reading season. While for many that means books for the beach, some emerging-market fund managers are yearning for titles that shed light on buying opportunities in Asia as well as the human psychology behind investing decisions. Asha Mehta, who oversees emerging markets at Acadian Asset Management in Boston, said she’s eager to crack Evan Osnos’s "Easternization: Asia’s Rise and America’s Decline From Obama to Trump and Beyond," which looks at how the rising wealth of Asian nations is shifting the balance of power…

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Shale Country Is Out of Workers and Dangling 100% Pay Hikes

Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted roads. But the crazy-low 2.1 percent unemployment rate is a bear. As the proprietor of Mulberry Cafe and Gerardo’s Casita, Morales is working hard to retain cooks. As a Republican first elected in 2014, he oversees a government payroll 200 employees short…

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Family of suicide bombers attacks 3 churches in Indonesia, killing 7, police say

Jakarta (CNN)A husband and wife used their four children in a string of deadly suicide attacks on three churches in the Indonesian city of Surabaya that left seven people dead, according to the country’s ranking police official. The six bombers also died, Karnavian said. Investigators believe the parents belong to Jamaah Ansharut Daulah, a terrorist group that lends its support to ISIS in Indonesia, the police general said. Through its Amaq News Agency, ISIS claimed responsibility for what it called “martyrdom attacks” in the port city on the east coast…

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North Korea will close nuclear test site in May, South says

Seoul (CNN)North Korean leader Kim Jong Un will shut down his nuclear test site in May and invite experts and journalists from South Korea and the United States into the country to ensure “transparency” around its closure, South Korea’s presidential office said Sunday. “The United States, though inherently hostile to North Korea, will get to know once our talk begins that I am not the kind of person who will use nuclear weapons against the South or the United States across the Pacific,” Kim was quoted as saying by Moon’s…

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China Is Studying Yuan Devaluation as a Tool in Trade Spat

Chinese leaders are weighing options as trade tensions rise Trump bashed China’s currency policy on the campaign trail Other markets have been far more turbulent as both the U.S. and China proposed tariffs on $50 billion of goods and Trump instructed his administration to consider levies on an additional $100 billion of Chinese products. currency manipulator, make it more difficult for Chinese companies to service their mountain of offshore debt, and undermine recent efforts by the government to move toward a more market-oriented exchange rate system. It would also expose…

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Uber Agrees on Southeast Asian Sale to Grab

Uber Technologies Inc. has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said. The agreement — which includes all of Uber’s operations in Southeast Asia as well as Uber Eats in the region — gives the U.S. company a stake of between 25 percent and 30 percent in the new combined business, the people said, asking not to be identified ahead of an official announcement. The deal, which…

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Uber Pulls Out of Southeast Asia, Selling Operation to Rival Grab

Uber Technologies Inc. has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival. Under the agreement, Grab will acquire all of Uber’s operations in a region of 620 million people, including food delivery service UberEats. The U.S. ride-hailing behemoth in return gets a 27.5 percent stake in a combined entity and its chief executive officer will join the board of the Singapore-based company. Bloomberg News reported over the weekend that the two companies…

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Scaramucci Says He Fears John Kelly Will Thwart SkyBridge Sale

Former Read more: Hicks’s exit widens Trump staff tumult Scaramucci’s fury with Trump’s chief of staff has been well-known since his dismissal on Kelly’s first day managing the White House. Scaramucci lost the job less than two weeks after he had been hired, largely over a tirade against then-chief strategist Steve Bannon. Now Scaramucci is at it again, but this time the target is Kelly — making him one of Kelly’s most high-profile critics at a time when some other Trump loyalists are questioning whether the president is being ill-served…

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Global Equity Slump Deepens as Rate Fears Grow: Markets Wrap

Asian equities fell and U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields. Shares sank across the region, putting the MSCI Asia Pacific Index on course for its biggest drop in almost 14 months. Benchmarks in Tokyo tumbled more than 2 percent, while S&P 500 Index futures were 0.4 percent lower. The 10-year Treasury yield neared 2.87 percent after solid jobs data on Friday showed rising wages. The yen advanced. “It’s likely the pullback…

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Trump’s Solar Tariffs Mark Biggest Blow to Renewables Yet

President Donald Trump just dealt his biggest blow to the renewable energy industry yet. On Monday, Trump approved duties of as much as 30 percent on solar equipment made abroad, a move that threatens to handicap a $28 billion industry that relies on parts made abroad for 80 percent of its supply. Just the mere threat of tariffs has shaken solar developers in recent months, with some stalling projects in anticipation of higher costs. The Solar Energy Industries Association has projected 23,000 job losses this year in a sector that employed…

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North, South Korea to march together under one flag at Winter Olympics

Seoul (CNN)North and South Korean athletes will march together at the Winter Olympics opening ceremony under a unified flag, the South said Wednesday, in a diplomatic breakthrough following days of talks between the two countries. North Korea will also send around 230 supporters to cheer on its athletes. A smaller delegation of North Korean athletes and supporters will attend the Paralympics, the ministry said. The Korean Unification Flag features a blue silhouette of the peninsula and outlying islands. The two countries have marched under the flag before, in rare shows…

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