Business

Asia markets mixed as tough week draws to end, pound struggles

HONG KONG, China (AFP) — Asian markets swung throughout Friday as investors weighed China-US trade speculation, while the pound struggled to stage a strong recovery from the previous day’s Brexit-fueled bruising. As a volatile week drew to a close, some stability emerged in the oil sector with earlier sharp losses tailing off, providing relief to regional energy firms. Hopes that the world’s top two economies are making efforts to resolve their painful tariffs standoff provided […]

Hong Kong, Shanghai lead most Asia markets up, pound strengthens

HONG KONG, China (AFP) — Asian markets mostly rose Thursday, with Hong Kong and Shanghai rallying on hopes for an easing of the China-US trade war, while energy firms also enjoyed a much-needed bounce as oil prices stabilised. The pound also held up after British Prime Minister Theresa May narrowly won support for her Brexit deal from cabinet members, though Apple suppliers faced renewed selling. Fears about the trade war, rising Federal Reserve interest rates, […]

Asian markets mixed but traders on edge, pound holds ground

HONG KONG, China (AFP) — Asian investors moved nervously Thursday as they struggled in the face of multiple headwinds, while oil prices resumed their drop and the pound struggled to hold its gains. Fears about the China-US trade war, rising Federal Reserve interest rates, tensions within the European Union and slowing growth in most economies have helped drive stocks south for the past few months. And this week it has been the turn of the […]

Victoria’s Secret CEO resigns amid flagging sales and model controversy

NEW YORK, United States (AFP) — The CEO of American clothing and lingerie brand Victoria’s Secret has resigned amid flagging sales and controversy around a lack of diversity at the line’s iconic annual fashion show, a source said Wednesday. A source familiar with the matter said CEO Jan Singer, who had been in the position since September 2016, would leave the company, but did not specify when. American media outlets had reported the move without […]

Innovation summit on human + tech integrations: Repositioning PHL IT-BPM industry in digital disruption era

By Caesar Vallejos Eagle News Service The first truly integrated, fact-filled summit conducted for the Philippine Information Technology-Business Process Management (IT-BPM) industry and its six sub sectors showcased the capabilities of human and technology integrations in the digital age. Key enablers from various industries gathered at the Shangri-La at the Fort last November 12-13, 2018 to discuss global industry trends and developments, and share insights and best practices. “The conversations in the conference are very […]

Tokyo stocks open higher

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Wednesday, rebounding from the previous day’s sharp drops on news of US-China trade talks and Britain’s announcement of a draft exit deal with the European Union. The benchmark Nikkei 225 index, which ended down more than 2.0 percent on Tuesday, rose 0.51 percent or 111.27 points, to 21,921.79 in early trade while the broader Topix index was up 0.56 percent or 9.19 points at 1,647.64. Overnight […]

Japan economy shrinks in Q3 as natural disasters hit

TOKYO, Japan (AFP) — Japan’s economy shrank in the three months to September, official data showed Wednesday, after a string of natural disasters hit consumer spending and exports, and China’s slowing economy cast a shadow. Gross domestic product for the July-September period contracted 0.3 percent from the previous quarter, reversing growth of 0.8 percent in the April-June period, according to the government’s Cabinet Office. A number of natural disasters dampened personal consumption, company investment and […]

NTC selection panel junks Sear, PT&T appeals for third telco bid

(Eagle News) — The National Telecommunications Commission’s selection committee has junked the appeal filed by  Sear Telecomunications Consortium for the panel to declare Mislatel Consortium — declared the country’s third provisional telco player—guilty of misrepresentation of facts and for concealing material evidence. The panel also junked the appeal of the Philippine Telegraph and Telephone Corporation (PT&T)  after they were disqualified from bidding to be the country’s third telco player. Sear had argued the partnership of Mindanao Islamic […]

Most Asian markets down as tech, energy firms take a hit

HONG KONG, China (AFP) — Technology firms fell in Asia Tuesday, tracking a deep sell-off in New York where Apple was hammered by worries about demand for its iPhones, while energy firms also fell with oil prices. After last week’s US elections-inspired mini-rally, global equities resumed their months-long slide as investors fret over a number of issues from the China-US trade war and Brexit to rising US interest rates and slowing economic growth. The latest […]

Asian markets tumble as tech, energy firms take a battering

HONG KONG, China (AFP) — Technology firms led a plunge in Asian markets Tuesday, tracking a deep sell-off in New York where Apple tumbled on worries about demand for its iPhones, while energy firms were also in free-fall with oil prices. After last week’s US elections-inspired mini-rally, global equities resumed their months-long slide as investors fret over a number of issues from the China-US trade war and Brexit to rising US interest rates and slowing […]

Oil prices advance as Saudi to cut output

by Ben PERRY Agence France Presse LONDON, United Kingdom (AFP) — Oil prices advanced Monday after crude kingpin Saudi Arabia unveiled plans to cut output in the face of global oversupplies, and pressed other producers to follow suit. Higher crude prices failed to lift the market overall in London however, with the FTSE 100 index lower as trading came to a close amid opening declines on Wall Street. Tobacco stocks were among those that slumped, […]

Alibaba hits another ‘Singles Day’ record but growth slows

SHANGHAI, China (AFP) — Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual “Singles Day” shopping frenzy, but growth slowed from previous years. The world’s biggest 24-hour shopping event, celebrating its tenth year, kicked off early Sunday and once again shattered its own sales mark as Chinese online buyers seized on promotions to snap up everything from electronics to clothing and housewares. Sales rose 27 percent, compared with […]