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Hanjin Shipping wins court approval to wind down Europe business

By Kyunghee Park Hanjin Shipping Co., South Korea’s largest container line that has put its Asia-US business on sale after filing for bankruptcy protection late August, won approval from a court to wind down its European operations as demand for its services to the continent slumped. The judge overseeing Hanjin’s receivership at the Seoul Central District Court approved the firm’s request, a court spokesman said. Hanjin will close all its 10 branches in Europe, including its regional headquarters in Germany, the container line’s spokeswoman said separately on Monday. The Seoul-based company expects to start the process as early as this week, she said. The decision to shut down its Europe business is part of the breakup process of Hanjin kicked off by the Seoul court, which earlier said it would consider selling the …

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Google acquires Eye-Tracking company for Virtual Reality efforts

Google just picked up a key piece of technology that might move its virtual reality ambitions closer to the masses. Eyefluence, which is working to enable eye movements to control digital screens, wrote in a blog post on Monday that it’s joining the search giant Alphabet Inc. The three-year-old startup, which had reportedly raised $21.6 million in funding, didn’t disclose a price. Google confirmed the deal with Eyefluence in an e-mailed statement. Jim Marggraff, the creator of the pioneering LeapPad tablet computer, started Eyefluence after buying up assets from neurological research firm Eye-Com. He pledged that the startup would allow people to manipulate objects and digital screens with their eye movements. Functional eye-tracking is a widely desired feature in virtual reality and augmented reality, which lets digital images interact with the physical world. Eye-tracking …

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Twitter planning hundreds more job cuts as soon as this week

Twitter Inc. is planning widespread job cuts, to be announced as soon as this week, according to people familiar with the matter. The company may cut about 8 percent of the workforce, or about 300 people, the same percentage it did last year when co-founder Jack Dorsey took over as chief executive officer, the people said. Planning for the cuts is still fluid and the number could change, they added. The people asked not to be identified talking about private company plans. An announcement about the job reductions may come before Twitter releases third-quarter earnings on Thursday, one of the people said. A Twitter representative declined to comment. Twitter, which loses money, is trying to control spending as sales growth slows. The company recently hired bankers to explore a sale, but the companies …

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Asian stocks advance amid earnings as Dollar gains; Oil steady

Asian stocks rose to a two-week high after U.S. shares rallied amid a flurry of takeovers and better-than-expected corporate earnings. The dollar strengthened versus most peers. Almost three shares advanced for every one that fell on the MSCI Asia Pacific Index in early Asian trading and U.S. equity index futures edged higher following the S&P 500 Index’s best close in two weeks. Benchmarks gained in Australia, Japan and New Zealand, while South Korea’s declined. Crude oil was little changed, having lost ground on Monday after Iraq threatened to derail OPEC’s planned output cuts by saying it should be exempt. The U.S. earnings season has so far given a lift to investor sentiment, with about 80 percent of the companies to have reported so far beating estimates, and the pace of announcements picks …

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London to put Uber drivers through English-proficiency test

Ratcheting up a battle with Uber Technologies, Inc., London’s government transportation agency is requiring drivers to meet an English-language requirement in order to hold a private-hire taxi license. The new rules, which apply to UberX and the company’s black car service, come after Uber successfully sued the city to block the introduction of English requirements that would apply only to drivers from non-English speaking countries. The proposal was considered discriminatory. Rather than backing away from the language-proficiency plan, the city is now requiring all drivers to prove their English skills by March 31, 2017. Uber is facing increased resistance in London, as officials attempt to protect its historic black cab industry, which has been a key part of the city’s transportation system for generations and whose drivers go through intensive training and …

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Hanjin Shipping to wind down Europe business as demand slumps

Hanjin Shipping Co., South Korea’s largest container line that has already put its Asia-US business on sale after filing for bankruptcy protection late August, will wind down its European business as demand for its services on the Asia-Europe trade lane slumped. Hanjin will close all its 10 branches in Europe, including its regional headquarters in Germany, the container line’s spokeswoman said Monday. The Seoul-based company expects to start the process as early as this week after obtaining approval from the Seoul Central District Court, she said. The decision to shut down its Europe business is part of the breakup process of Hanjin kicked off by the Seoul court, which earlier said it would consider selling the company entirely. Hanjin is also seeking separate bids from shipping companies to buy its Asia-US network …

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China to surpass US as world’s largest aviation market by 2024

China is set to overtake the US to become the world’s largest aviation market by passengers by 2024 as more people take to the skies domestically and internationally, according to the International Air Transport Association (IATA). The number of people flying to, from and within China will almost double to 927 million annually by 2025, from 487 million last year, according to forecasts from IATA made in an e-mailed statement, and reach 1.3 billion by 2035. In comparison, passengers in the US will increase to 904 million by 2025, from 657 million last year, according to the predictions. Global passenger travel is predicted to surge, with most of that growth coming from the Asia-Pacific region as economies expand and more people can afford to fly. India is set to surpass the UK …

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We’re Afraid of Getting Hacked, but We’re Not Doing Much About It

A hack at Sony Pictures that exposed more than 170,000 emails in 2014 derailed a much-hyped film's release and prompted a months-long industry freakout. A hacking incident at Yahoo now threatens to derail a sale to Verizon. WikiLeaks' releases of Democratic officials' hacked private emails are providing near-endless fodder for Donald Trump's presidential campaign. And yet, while large numbers of Americans appreciate the threat of getting hacked, they don’t seem to be changing their behaviors in any appreciable way. That’s a key finding of a new poll of views of online privacy, funded by Craig Newmark, the founder of classified-ad website Craigslist. The poll, overseen by Rad Campaign, a creative agency, and Lincoln Park Strategies, a research firm, found that trust in social networks has declined over the past two years, even …

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Hong Kong Scraps Morning Trading as Typhoon Haima Approaches

Hong Kong’s stock exchange canceled its morning trading session as Typhoon Haima drew closer to the global financial center, prompting schools to close and airlines to warn of disrupted flights. The Hong Kong Observatory said it expects Storm Signal No. 8, its third-highest warning, to remain in force for most of the time during the day. At 9 a.m. local time, Typhoon Haima was centered about 170 kilometers (106 miles) east-southeast of the city and is forecast to move towards the vicinity of the Pearl River Estuary. It will be closest to the city around noon, skirting about 100 kilometers to the east of Hong Kong. Hong Kong Exchanges & Clearing Ltd. canceled morning trading, its spokeswoman Lorraine Chan said by phone. Trading for the whole day will be scrapped if signal …

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How to eat well at 30,000 feet

If you think all airline food tastes bad, it’s not your imagination. But don’t just blame the chef. Serving flavorful food at high altitude poses a unique challenge. “The problem is that we taste poorly on airplanes,” says Bianca Bosker, author of Cork Dork, an upcoming book covering the science of the senses. “Research has shown that the dryness, deafeningly loud rumble, and air pressure of cabins all effectively dull our senses so that food ends up tasting much blander than it would back on the ground.” But a bit of knowledge — and preparation — can go a long way toward getting you the best possible in-flight meal, even if you’re stuck in steerage. Try to move on up. Sitting in the very front of the plane (meaning business and first-class cabins) …

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