Business

EU fines Google 1.49 billion Euros for anti-trust breach

by Alex PIGMAN The EU’s powerful anti-trust regulator slapped tech giant Google with a new fine on Wednesday over unfair competition, in Europe’s latest salvo against Silicon Valley. In its third major decision against the search engine behemoth, Brussels sanctioned Google’s once popular AdSense advertising service, saying it illegally restricted client websites from displaying ads from ad service rivals. Google and the EU have been at loggerheads about the monopoly of Google over internet search […]

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BPI Family Savings Bank launches first and only housing loan in the Philippines with a free savings account

By Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service The Philippines’ largest thrift bank, the BPI Family Savings Bank (BFSB), launched the one and only housing loan in the country that provides clients with a savings account. The savings account is “on us, free – equivalent to P10,000 for every 1M housing loan and clients can choose from three deposit products” of the bank, BPI Family Savings President Ginbee Go announced in a media roundtable […]

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Asia markets extend rally as eyes turn to Fed meeting

HONG KONG, China (AFP) — Asian markets rose Monday as investors tracked a positive lead from Wall Street on optimism over the China-US trade talks, while attention turns to the Federal Reserve’s next policy meeting this week. The pound held gains as Prime Minister Theresa May tries to push her EU divorce deal through parliament for a third time, failure of which could see Britain extend its exit deadline or possibly crash out of the […]

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Asian markets rally as Trump signals trade talks optimism

HONG KONG, China (AFP) — Asian markets rose Friday as Donald Trump struck an upbeat note on trade talks with China, while the pound held steady after British MPs voted to delay Brexit. While there remain some concerns about the global outlook, investor confidence has been supported by ongoing optimism that the world’s two biggest economies will eventually hammer out a deal to end their long-running trade row. The US president provided fresh cheer Thursday […]

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PCCI members urged to transform their businesses for Industry 4.0

By Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service Members of the Philippine Chamber of Commerce and Industry (PCCI) were urged to rethink their policies and strategies to prepare their businesses for the transformation that the digital revolution is bringing. “Workers, businesses and the government must prepare for the transformation,” PCCI President Ma. Alegria Limjoco said in her speech at the PCCI General Membership Meeting held at the Dusit Thani Hotel last March 12, 2019. […]

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Pound tracks back from Brexit highs, Asia markets mixed

HONG KONG, China (AFP) — The pound retreated from nine-month highs in Asia on Thursday as investors are dogged by Brexit uncertainty, while equities were mixed as a healthy Wall Street lead was offset by more disappointing Chinese economic data. In another night of drama in Westminster, MPs voted against leaving the European Union without a deal, having rejected Prime Minister Theresa May’s agreement with the bloc for a second time. The move sent the […]

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Wall Street rallies amid Brexit, Boeing turmoil

NEW YORK, United States (AFP) — Wall Street held on to solid gains on Wednesday, rallying as British lawmakers ruled out a no-deal Brexit and President Donald Trump became among the last world leaders to ground Boeing’s 737 MAX aircraft. Investors also were cheered by economic data showing the US manufacturing sector had a boost in January and wholesale inflation remained tame in February. Shares in Boeing bounced erratically after Trump’s decision to ground all […]

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EU needs to hear UK plan before deciding Brexit delay: Barnier

The European Union must hear from Britain how it plans to proceed with Brexit before deciding whether to delay the divorce, negotiator Michel Barnier said Wednesday. On Tuesday, British MPs rejected the Brexit withdrawal plan that Prime Minister Theresa May had agreed with EU negotiators — with just 16 days to go before Britain is due to leave the bloc. The lawmakers are to vote again on Wednesday to indicate how they plan to proceed, […]

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US warns of WTO action over ‘discriminatory’ new digital taxes

The US warned Tuesday it was considering a complaint at the World Trade Organization over “discriminatory” new taxes on American digital giants such as a Facebook and Google planned by France and other EU nations. “We think the whole theoretical basis of digital service taxes is ill-conceived and the effect is highly discriminatory against US-based multinationals,” Chip Harter, a Treasury official and US delegate for global tax talks, said in Paris. Speaking ahead of two […]

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Philippine economy to grow despite global economic slowdown

By Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service The Philippines will continue to be a viable investment and growth hub despite the global economic slowdown. This was the message of top policymakers and business leaders at the recently concluded Manila Times Economic Outlook 2019 Forum at the Dusit Thani Manila. International Monetary Fund (IMF) Resident Representative to the Philippines Yongzheng Yang confirmed that the global growth is slowing down.  He said that “in 2018, […]

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Asian markets retreat from rally, pound stable after Brexit drop

HONG KONG, China (AFP) — Asian markets retreated Wednesday after two days of gains but the pound enjoyed some stability after the previous day’s sharp losses sparked by Theresa May’s Brexit deal being tossed out by MPs. Sterling saw wild fluctuations Tuesday as it hit a near two-year high on news the prime minister had won a last-minute revision to her agreement with the EU, then tanked to a three-week low as it was rejected […]

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Pound volatile at start of hectic Brexit week

NEW YORK, United States (AFP) — The British pound see-sawed Monday as traders jockeyed for position on the eve of another critical parliamentary vote for Prime Minister Theresa May. Meanwhile, in New York, US stocks snapped a five-day losing streak, despite a sharp decline early in the session for Boeing following Sunday’s deadly crash involving one of its a top-selling passenger jets. The British currency kicked off the trading cycle in Asia by tanking to […]

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