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Hang Seng crashes 8.3 per cent to four-year low

Hong Kong - Hong Kong's benchmark Hang Seng Index slumped 8.3 per cent Friday to plunge below 13,000 points, closing at 12,618.38, its lowest level in four years.

The index shed 1,142 points and in October lost more than 30 per cent of its value so far.

Turnover was 56.14 billion Hong Kong dollars (7.2 billion dollars).

Analysts blamed concerns about corporate earnings and wider global economic woes for the drop.

Among the biggest losers were HSBC and Standard Chartered, two of the territory's largest banks, dragged down by worries about the banks' investments in emerging economies.

HSBC saw its share price crash 12.5 per cent to end the day at 88 Hong Kong dollars.

British economy shrinks for first time in 16 years

London - The British economy has shrunk for the first time in 16 years, dropping 0.5 per cent in the July-September quarter, the Office for National Statistics reported Friday.

French shares plunge on earnings fears, OPEC meeting

French shares plunge on earnings fears, OPEC meetingParis - Anxiety about corporate earnings and the expected announcement that OPEC will cut oil production have driven French shares sharply lower on Thursday.

In mid-morning trading, the Paris Bourse's CAC 40 index was down 6.09 per cent, at 3,109.09, with 39 of 40 listed stocks losing ground.

France's two large car makers, Renault and Peugeot, were among the biggest losers, giving up 16.41 and 14.45 per cent, respectively, because the global car market is screeching to a halt.

Visual distress beacon lets screams be heard in space

London, Oct 24 : Scientists are developing an optical distress beacon for astronauts working outside their spacecraft, which would enable their screams for help to be heard in space in case of an emergency.

According to a report in New Scientist, the device could provide an alert if an astronaut is unable to speak or radio links fail.

The distress beacon will be attached to sensors monitoring heartbeat or breathing, and will have LEDs visible up to 800 meters away.

“The astronaut might even flash them to send messages in Morse code,” said Sarah Harris of Harvey Mudd College in Claremont, California, who is developing the device with staff at the Aerospace Corporation in El Segundo, California.

Hypnosis can induce synesthesia

Washington, Oct 24 : In a new study, scientists have established that hypnosis can trigger "synesthetic" experiences – where one sense triggers the involuntary use of another – within an average br

Euro hits three-year low

European EconomyFrankfurt - The euro hit a three-year low Friday of below 1.

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