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The Bank of America had announced its plans to cut about two dozen investment banking jobs in Asia. Some affected include top dealmakers in the region.

The job cut will coincide with the Goldman Sachs abandonment of several investment banking branches in Southeast Asia that amounts to 30% of its regional business.

Bankers handling coverage and deals would be made redundant this week.

The banks are facing pressure from investors as Hong Kong and other financial hubs are overtaken by Chinese Mainland banks, sweeping away the competition.

The banks have suffered consecutive losses in the last few quarters.

Meanwhile, Bank of America would post information of higher third quarter revenues in its investment banking business.

In July, Chief Executive Officer Brian Moynihan announced a new expense target of $53 billion for 2018, $3.3 billion less than its total expenses over the past four quarters.

The new target came after years of working through a sweeping cost-cutting project dubbed “New BAC” and an ongoing efficiency initiative called “Simplify and Improve.”

Besides Bank of America and Goldman, many western banks have announced plans to scale down their operations in Asia in the past year, as they grapple with slowing revenue growth and higher operating costs in the region.

A massive hole in Gatwick Airport’s main runway had delayed hundreds of flights nationwide as planes for Gatwick were diverted to other airports after the local management announced a shut-down.

Flights circled the skies for hours until they were redirected.

Passengers inside the planes said the waiting proved to be a “nightmarish” experience for many of them.

Many on-the-ground passengers said the delays had been uncontainable as a domino effect on all local flights had pushed back all flight landings for all incoming and outgoing schedules.

According to journalists, many were puzzled that the airport had shut down without mentioning the reason for the shut-down; a huge hole in the middle of the Gatwick runway.

After the announcement of closure, engineers had begun repairing the tarmac.

Airport authorities had also opened the second runway on site. This runway is only used with the main runway is unavailable.

The airport’s twitter account tweeted: “Our main runway is now open and operating and we are working hard to get you on your way.

“We would like to apologise for any inconvenience this evening. Your safety is our number 1 priority.”

A number of passengers expressed their confusion on social media after discovering their flights had been diverted to a different airport.

As if releasing the latest GeForce GTX 1080 were not enough, Nvidia had released its new plethora of cards including its Pascal GPUs designed for laptops.

A few weeks ago, Nvidia had also released its Titan X card for desktop systems.

The graphics card developerh ad dropped its ‘M’ suffix which it uses to differentiate laptop and desktop graphics cards. As with before, technology for graphics in laptops cannot par those made for desktop computers.

The new Pascal cards are focused on laptops to provide a gaming experience similar with their desktop counterparts.

The company claimed that the new GPUs are up to 76 per cent faster than their Maxwell-based predecessors, but built with the same 16nm FinFET process. Each laptop card features the same GPU as its desktop counterpart.

Nvidia said that the new range will enable 4K resolution gaming on laptops at playable frame rates for the first time, and that notebooks with 1080p panels will be able to drive a 120Hz refresh rate if, for some reason, you have advanced robotic eyes and are able to detect such things.

Laptops featuring the new cards have already been announced, and most of the big gaming laptop manufacturers are promoting high-end systems with the latest technology, including MSI and Origin, to name but two.

The UK’s refugee response to addressing the needs of 20,000 refugees is “lamentable” according to a committee of MPs overseeing the enquiry over the UK-France Calais “Jungle” of refugees. The committee noted that it was a “source of shame” to wealthy countries.

According to all-party Home Affairs commitee, they said former Foreign Secretary Philip Hammond’s efforts to resolve the Calais issue has been near non-existent.  The now-Chancellor seemed “complacent” during the time with the situation of thousands of refugees journeying across the Mediterranean from Libya.

Criminal gangs and human smugglers have preyed on these migrants who had given up most of their possessions to get to Europe.

The committee report Migration Crisis highlights the uneven response of local councils to supplement former Prime Minister David Cameron’s decision to have the UK help more than 20,000 refugees fleeing Syria’s civil war.

Under the scheme, about 1,602 were accepted with 610 in Scotland, 171 in Yorkshire and Humberside and 105 in Coventry. About 32 refugees have gone to london.

A UN report highlighted that about 65 million people would be displaced from their homes due to the war in Syria and persecution by extremist forces. The refugee figures are higher than those during the end of World War II in 1945.

About 167 civilians had been killed in the US-led air strikes in different areas of Syria. The area, held by the Islamic State of Syria and the Levant, has been heavily assaulted by US air forces.

About 56 civilians including 11 children were killed in air strikes on Tokhar in the northern city of Manbij.

Coalition strikes had also killed 10 more civilians including four children.

According to the Syrian Observatory for Human Rights in the United Kingdom said the total number of civilians killed by coalition strikes in Manbij is now at 167 with 44 children including.

Manbij is the large tract of land along Syria’s Northern Border with Turkey. The area is currently locked down by the Islamic State. It is a crucial supply point between Raqqa and Turkey. Now the US-backed Kurdish and Arab militias have entered the city and are defending it.

The National Coalition of Syrian Revolutionary and Opposition Forces confirmed that the attack in Manbij had killed 95 people and a great number of civilians had been buried beneath rubble.

“The bombing of al-Tukhar may have resulted in the largest loss of civilian life by coalition operations in Syria. There must be a prompt, independent and transparent investigation to determine what happened, who was responsible, and how to avoid further needless loss of civilian life,” said Magdalena Mughrabi, interim deputy director of the Middle East and North Africa Program at Amnesty International.

“Anyone responsible for violations of international humanitarian law must be brought to justice and victims and their families should receive full reparation.”

British Prime Minister David Cameron and French Prime Minister Francois Hollande concluded that the UK will not relieve its British border controls in Calais despite the Brexit vote. Both ministers said they had a “mutual commitment” to keep it in place.

According to a representative:

“They agreed to continue working closely together to protect our shared border in Calais – and to maintain the so-called juxtaposed controls”.

The 2003 Le Touquet Agreement secures the controls. UK passport officials would screen individuals in the French town before they board trains and ferries. According to British border officials, the Calais camp is a way to stop migrants from illegally crossing the Channel.

The Remain Campaign had once endorsed the UK could possibly have Calais camp controls lifted on event of a Brexit vote, though this has not come to pass. He said the ‘Jungle’ refugee camps could return to Kent after an EU exit.

Tory backbencher Nigel Mills last night told the Sun: “We always knew there was no reason for either side to want to change this agreement.

“And I think it just highlights how some of the nonsense spoken by the Remain camp is now falling away.”

Several markets in Asia benefit highly from the unchanged interest rates of the US Federal Reserve.

The Australian S&P/AS 200 index had opened up by 0.5% and continued to rise in morning trade, up 0.73% to 5,184.5 points.

And in New Zealand, the benchmark S&P/NZX 50 index spent much of its morning session in positive territory.

The index was later up 0.35% to 6,893.58 points.

Investors there were also given a boost by positive economic growth numbers.

New Zealand posted faster-than-expected growth in the first quarter, up 2.8% from a year earlier.

Stocks in South Korea opened in positive territory but lost some ground later, with the benchmark Kospi index down 0.28% to 1,963.27.

The UK’s impending Brexit vote is what made the US Federal Reserve hold the interest rates for the meantime. According to Chair Janet Yellen, the decision on June 23 by Britons will have economic and financial consequences in the global financial markets.

Despite the hold on interests, it had detrimental effect in Japan and China.

China’s stocks are still in negative territory in early trade. Investors in Japan were waiting news from the Bank of Japan’s meeting, which finishes later. The benchmark Nikkei 225 index was down 1% to 15,756.53 in mid morning trade.

In China, Hong Kong’s Hang Seng index was down 1.18% to 20,226.42, while the Shanghai Composite was down 0.34% to 2,877.29.

South Africa’s apartheid recovery is not yet complete until the lands owned by white and foreign individuals and enterprises are returned to the public’s hands.

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South African President Jacob Zuma is to sign the bill into a law that would allow the government to expropriate land in the interest of the public. This would mean retrieving the land from white people and return them to native Africans as a sign of balance and democracy.

The governing nationalist coalition swore the bill will tackle all injustices and prevent apartheid-related inequality and imbalances for native Africans.

The bill has been an emotional issue for South Africa in the last 22 years after the banishing of the apartheid system in Africa.

The bill will allow a government adjudicator to pay the land owner a value it determines fit for the land. Then the land would be held by the government until a native African can purchase the land for development.

“The passing of the bill by parliament is historic and heralds a new era of intensified land distribution programme to bring long-awaited justice to the dispossessed majority of South Africans,” the ANC (African National Congress) said in a statement.

About 10% of land in white ownership has been transferred to black owners since the end of apartheid, which is only a third of the ANC’s target.

Venezuelans face hunger and extreme looting after Venezuelan President Nicolas Maduro declared Venezuela is in a state of emergency for 60 days. Maduro said a threat to external security exists and his administration must deal with the threat as soon as possible.

Citizens have become restless. Many are waiting in line for food in relief centres. Meanwhile, looting and social tensions have increased in the city of Guarenas.

According to citizens, some have resorted to eating domesticated animals including dogs, cats and pigeons to resolve local food shortages.

A citizen said most people have no food. Power is cut to only four hours a day and crime is soaring in the country.

Most citizens said Maduro would not take responsibility for the trouble. They said “something has to give.”

Venezuela’s economy is suffering from low oil prices. Combined with limitations to dollar purchases, the country’s import-dependent economy is seeing a shortage on food and medicine. Cases of cancer, HIV, diabetes and hypertension are increasing nationwide.

“Shortages are just going to get worse in the coming weeks and months, and the government’s bet that they can keep the protests and looting … small-scale seems risky,” said David Smilde, a senior fellow at the Washington Office on Latin America. “Venezuelans are not used to hunger and do not have a lot of respect for Maduro as their leader.”

According to Maduro:

“They don’t want a referendum, they want a coup,” Maduro said this week during meeting with foreign journalists. “We have no obligations to hold any type of referendum in this country.”

With the Syrian Regime and Rebels again at each other’s throats, peace talks in Syria remain deadlocked. The Syrian ceasefire and peace talks revolve around Syrian President Bashar al-Assad’s position in Syria and his involvement in the future parliament.

Syrian analysts believe that negotiations had fallen apart as the ceasefire between rebels and the Syrian regime had proven non-existent.

US Secretary of State John Kerry said he is in Geneva “intensely” working on another ceasefire for both parties.

Due to the resume of Syrian conflict, the Islamic State and other terrorist groups could inflate the situation further.

According to US Defence Secretary Ash Carter, Syrian peace is still a long way off.

“Our strategy … is that Assad leaves, the structures of the government remain in place — but without Assad — and that the moderate opposition becomes part of the government and there is a government that can give the Syrian people what they deserve, which is a country that runs and a country that’s moderate and a country that treats its people decently,” Carter told the Senate Armed Services Committee.

“We’re a long way from that now, but that’s the vision for Syria,” he continued.