Business

National gov’t posts P29.9 billion budget surplus in August

MANILA, Sept. 26 (PIA/DOF) —   The national government has posted a budget surplus of P29.9 billion in August  Finance Secretary Cesar Purisima reported. In a statement, Purisima said this is  “wider than the year-ago surplus, once again resulting from fast-paced expansion of revenue collections for the month. This brought the year-to-date budget balance to a deficit of P25.9 billion, well-within the program and narrower than comparable figures a year ago.” DOF said the primary […]

U.S. proposes plugging fire-suppression hole in Boeing 787

By Alwyn Scott SEATTLE Thu Sep 25, 2014 10:32pm EDT (Reuters) – The U.S. aviation safety regulator has proposed requiring operators of some Boeing Co 787 Dreamliners to replace parts near the plane’s lithium battery in an effort to improve the plane’s ability to fight an on-board fire. In a directive issued on Tuesday, the Federal Aviation Administration said it had received reports that some 787-8 planes did not have foam-like plugs properly installed as […]

Asian shares shudder under Wall Street’s shadow

By Lisa Twaronite TOKYO Thu Sep 25, 2014 11:26pm EDT (Reuters) – Asian shares were poised to end the week on a sour note on Friday after a steep drop on Wall Street, while the dollar steadied close to multi-year highs touched in the previous session. U.S. stocks ended sharply lower, as Apple Inc broke under key technical levels after the tech giant withdrew an update to its new operating system. That pushed the S&P […]

Apple plays defense on iPhone 6 bending, software concerns By Arathy S Nair and Sam Adams

(Reuters) – Apple Inc (AAPL.O) broke its silence on complaints about bending iPhones, hours after withdrawing a glitch-ridden software update as the company struggles to restore momentum to the rollout of its latest phones. “With normal use, a bend in iPhone is extremely rare and through our first six days of sale, a total of nine customers have contacted Apple with a bent iPhone 6 Plus,” Apple spokeswoman Trudy Muller said in an email. Apple […]

Restaurant chain Jimmy John’s reports data breach at 216 stores

Wed Sep 24, 2014 4:35pm EDT (Reuters) – Sandwich restaurant chain Jimmy John’s said there was a potential security breach involving customers’ credit and debit card data at 216 of its stores and franchised locations on July 30. An intruder stole log-in credentials from the company’s vendor and used the credentials to remotely access the point-of-sale systems at some corporate and franchised locations between June 16 and Sept. 5, the company said. The chain is […]

Asia cheered by Wall Street rebound, dollar resumes advance

By Shinichi Saoshiro TOKYO Wed Sep 24, 2014 8:30pm EDT (Reuters) – Asian stocks rose early on Thursday, cheered by a sizeable overnight rebound on Wall Street, while the dollar resumed its advance after upbeat economic data undercut safe-haven bids and pushed yields higher. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1 percent, pulling away from a four-month low touched the previous day when U.S.-led air strikes in Syria stoked geopolitical concerns. Tokyo’s […]

Asian relief as China’s factories top low expectations

(Reuters) – Asian shares recouped early losses on Tuesday while commodities won a break from recent selling pressure after a reading on China’s massive factory sector outpaced the market’s bleak expectations. The HSBC flash reading on manufacturing (PMI) for September rose to 50.5, from 50.2 in August and confounding forecasts for a dip to 50.0. ECONCN The market had been braced for something even worse and the relief helped Chinese stocks move into the black […]

Federal Reserve signals faster but still slow path for rate rises

By Howard Schneider WASHINGTON Wed Sep 17, 2014 6:26pm EDT (Reuters) – Federal Reserve officials nudged their expected path of interest rate increases higher on Wednesday, but did little to change the outlook for a long slow climb back up to normal monetary policy. The revised rate projections left a deep disconnect between the U.S. central bank and financial markets, with investors anticipating significantly lower rates in the future than the Fed officials themselves project. […]