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HONG KONG, China (AFP) — Asian markets mostly rose Friday after another positive week across trading floors but investors’ desire for more buying was being tested by profit-taking and worries about a possible US government shutdown. Wall Street came off record highs to end lower as Washington lawmakers bicker over a federal funding deal, which must be passed by midnight on Friday US time. The House of Representatives passed a bill on Thursday but there […]
QUEZON CITY, Philippines (Eagle News) — Meralco said that it will lower electricity charges this month by P0.5260 per kilowatt/hour. This means that each customer who consumes 200 kilowatts per hour will have their monthly bill reduced by Php105, and those consuming 300kwh will have their bills reduced by Php157.80. The lower electricity charge is brought about by lower generation charge. The lower January rate is mainly due to a P0.5277 per kWh reduction in […]
HONG KONG, China (AFP) — Hong Kong stocks climbed to a fresh record on Thursday as investors tracked another milestone on Wall Street but Asia-wide markets struggled to keep up the recent momentum. But while the afternoon saw a slight wobble across the region and some analysts warned of a possible correction, traders remain bullish on equities thanks to a healthy global economic outlook, optimism over the impact of Donald trump’s tax cuts and strong […]
NEW YORK, United States (AFP) — Wall Street shot past a fresh set of a milestones on Wednesday as irrepressible investor appetite returned US stocks to their steady stream of record finishes. Across the Atlantic, however, European equities churned lower as market players took their cue from downbeat sentiment in Asia. Virtual currency bitcoin dived, falling below $10,000 for the first time in six weeks in what one analyst called a “cryptocalypse” as several digital […]
OTTAWA, Canada (AFP) — The Bank of Canada raised its benchmark interest rate by 25 basis points to 1.25 percent Wednesday, pointing to sustained growth in the G7 economy and inflation that is closer to the country’s target. The central bank explained in a statement that while the Canadian economy was going strong, with jobs on the rise and inflation in check, “uncertainty about the future of NAFTA is weighing increasingly on the outlook.” Canada, the United […]
SAN FRANCISO, United States (AFP) — Apple announced Wednesday it would pay some $38 billion in taxes — likely the largest payment of its kind — on profits repatriated from overseas as it boosts investments in the United States. The iPhone maker said in a statement it plans to use some of its foreign cash stockpile, which qualifies for reduced tax rates under a recent bill, to invest in new projects. Apple, which claims to be the […]
FRANKFURT AM MAIN, Germany (AFP) — Germany’s Volkswagen said Wednesday it sold a record number of vehicles in 2017, putting it on track to hold on to the title of world’s largest carmaker two years after its “dieselgate” emissions scandal. Some 10.74 million vehicles from VW or its subsidiaries ranging from Porsche and Audi to Skoda and Seat rolled out of dealerships last year — an increase of 4.3 percent over the previous year, the […]
(Eagle News) – The Overseas Filipino Bank is set to launched tomorrow, January 18, ready to provide financial and remittance services tailored to the needs of overseas Filipino workers, according to the Department of Finance The launch will happen Thursday afternoon at the PostBank Center in Liwasang Bonifacio, Manila. “We recognize the contribution of our overseas Filipinos to our economic growth we are now enjoying; and related to this, we acknowledge their financial needs,” Roque […]
SAN FRANCISCO, United States (AFP) — Google on Tuesday said it is adding three new undersea data cables as it continues to bulk up its ability to power cloud services around the world. The US internet behemoth has spent $30 billion improving its infrastructure during the past three years and “we’re not done yet,” according to cloud platform vice president Ben Treynor Sloss. Fast, reliable internet connections have become imperative as games, social networks, television, […]
by Ali Bekhtaoui Agence France Presse NEW YORK, United States (AFP) — The bronze sculpture of a bull that stands near the New York Stock Exchange serves as a symbol of Wall Street’s power perhaps this year more than ever. Since President Donald Trump took office a year ago, the principal US stock indexes have gained by leaps and bounds, hitting a record string of records. “I have not seen such enthusiasm on Wall Street […]
DETROIT, United States (AFP) — Ford on Tuesday projected 2017 earnings below the level expected by analysts and said results this year would be even lower. The second-biggest US car company forecast adjusted earnings per share of $1.78, five cents below analyst expectations, according to data released ahead of a presentation by Ford chief financial officer Bob Shanks at the Deutsche Bank auto conference Tuesday night. Ford blamed “external headwinds” including high commodity costs and unfavorable exchange rates […]
GENEVA, Switzerland (AFP) – Nestle said Tuesday it has agreed to sell its US candy business to Italy’s Ferrero for CHF 2.7 billion ($2.8 billion/2.3 billion euros) in cash as the Swiss food giant shakes up its product portfolio. Ferrero, known for its Tic Tac, Nutella and Ferrero Rocher brands but which has traditionally preferred organic growth to acquisitions, will now be picking up Crunch, Butterfinger and Baby Ruth from Nestle. The sale will make Ferrero the third-largest confectionary […]
