Category: Business

PHL largest online stockbroker reports “possible system breach” but assures “integrity” of clients’ “account balances, stock positions”

(Eagle News) — The country’s biggest online stockbroker firm on Friday reported a “possible breach in its system involving some personal client information.” In an e-mail to its clients, Col Financial assured its over 200,000 clients, however, of the “integrity of (their) account balances and stock positions.” It also assured them that their “account transactions have not been compromised.” “In addition, we have internal control procedures that prevent unauthorized withdrawals from your account,” it said. […]

Tokyo stocks flat at break, Nissan hit by output halt

TOKYO, Japan (AFP) — Tokyo stocks ended flat Friday morning following the benchmark index posted its longest string of gains in nearly 30 years, while Nissan dropped after it suspended production citing an inspection scandal. The Nikkei 225 inched up 3.26 points to 21,451.78 by the break, while the broader Topix index was just 0.35 points higher at 1,730.39. “There is no surprise to see profit-taking,” said Hikaru Sato, senior technical analyst at Daiwa Securities. […]

Facebook joins effort to boost newspaper subscriptions

WASHINGTON, United States (AFP) — Facebook announced Thursday initiatives to help struggling news organizations gain paid subscribers, following a similar move unveiled earlier this month by Google. The social network giant said it will test “premium news models” for organizations that deliver their content on Facebook, to enable the publishers to have more control over pricing, subscriber relationships and revenue. “Earlier this year, many publishers identified subscriptions as a top priority, so we worked with […]

Philippines’ Metrobank buys out ANZ credit card stake

MANILA, Philippines (AFP) — The Philippines’ second biggest bank said on Thursday it will spend $288 million buying out the minority stake that Australia’s ANZ has in a credit card joint venture. Metrobank will take over ANZ’s 40 percent share in Metrobank Card Corp. as part of a deal to turn the tie-up into a wholly-owned subsidiary. Metrobank, short for the Metropolitan Bank and Trust Co., formed the 60-40 joint venture with ANZ in 2003. […]

Chinese Internet giants step into property rental

SHANGHAI, China (CCTV) — The Chinese government has been emphasizing the development of the rental market as a way to control the country’s real estate boom. The shift has encouraged the nation’s mega Internet companies like Alibaba and JD.com to explore apartment leasing. Alibaba has just launched its property rental service on its payment app Alipay. The service is similar to most rental apps — prospective tenants can find available apartments in suitable locations with […]

Wall Street gains, cheap yen drive Tokyo stocks higher

TOKYO, Japan (AFP) — Tokyo stocks opened higher Thursday, helped by a tailwind from an upbeat Wall Street and a cheaper yen, as traders begin to factor in this weekend’s election in the world’s third-biggest economy. The benchmark Nikkei 225 index rose 0.39 percent, or 82.33 points, to 21,445.38 in early trade, while the broader Topix index was up 0.30 percent, or 5.18 points, at 1,729.82. The dollar was higher at 113.05 yen in early […]

Baidu to hit the road with self-driving bus

by Glenn Chapman Agence France-Presse LAGUNA BEACH, United States (AFP) — Baidu chief executive Robin Li on Tuesday said the Chinese internet giant will have a self-driving bus on the road soon as it races for a lead in autonomous vehicles. Baidu is collaborating with an array of companies on autonomous cars, and is working with a large bus maker in China to have a self-driving bus running a route by next year, Li said […]

Bidding war heats up for $5 billion second Amazon Headquarters

NEW YORK, United States (AFP) — It’s the prize of a lifetime — a $5 billion investment creating 50,000 well-paid jobs that everyone wants, but only one US city will get. From East to West, from North to South, metropolies across the United States are locked in a frenzied bidding war desperate to woo Amazon into favoring them as the site of the e-commerce giant’s second headquarters. From $7 billion in tax breaks in Newark, […]

Cash-loving Japanese savers opt to play it safe

by Karyn Nishimura-Poupee Agence France-Presse TOKYO,┬áJapan (AFP) –┬áThe Tokyo stock market might be riding two-decade highs, but a growing number of Japanese are choosing to stash their cash in the humble home safe, wary of negative interest rates in the bank and out of the view of eagle-eyed tax officials. It is no secret that Japan has some of the world’s biggest savers, learning from an early age to put aside some of their hard-earned […]

Mercedes says recalls 400,000 UK cars on airbag fault

LONDON, United Kingdom (AFP) — Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday. A statement issued by the carmaker owned by German giant Daimler said the situation was not related to the airbags crisis at Japanese group Takata. Mercedes said it was recalling models — the A, B, C, and E-Class as well as the CLA, GLA, and GLC — built […]

Tokyo stocks open higher on hopes for corporate results

TOKYO, Japan (AFP) — Tokyo stocks opened higher Tuesday, tracking gains on Wall Street with investors beginning to price in bullish expectations for sound corporate results as earnings season gets underway. The Nikkei 225 index, which has risen for the past 10 consecutive sessions, edged up 0.49 percent, or 104.60 points, to 21,360.16 in early trade. The broader Topix index was also higher by 0.45 percent or 7.75 points, at 1,726.93. The earnings season starting […]

Airbus to enter into partnership with Canada’s Bombardier

PARIS, France (AFP) — Airbus will take a majority stake in Bombardier’s marquee C-Series airliner program, the companies announced Monday, as the Canadian firm battled against a stiff tariff ruling in the US. The landmark agreement comes after the US administration slapped a 220 percent countervailing duty, as well as an 80 percent anti-dumping tax, on Bombardier CS100 and CS300 aircraft imported into the United States. Boeing accuses Bombardier of manufacturing its 100-150 seat planes […]