Business

Increase of collected taxes in QC in 1st qtr of 2015

Collected business taxes in the first quarter of 2015 by the Quezon City government are hauling in up to 7.75 % or PHP 234 million. Based on the report submitted to Mayor Herbert Bautista by the treasury, the QC government has collected PHP 3.26 billion or PHP 234 million tax increases, over than PHP 3.02 billion taxes collected in the same quarter of 2014. City Administrator Aldrin Cuña said that “For the past five years, […]

Oil price hike starts

After a series of price rollback, oil companies start implementing an increase on oil price due to the higher rate of oil prices in the United States.

Ex-IMF head Strauss-Kahn testifies in French sex ring trial

(Reuters) – Dominique Strauss-Kahn, the former IMF chief who was tipped to become French president before being accused of sexual assault by a New York maid in 2011, will testify to a criminal court on Tuesday over his alleged role in sex parties with prostitutes. The allegations that he participated in a French sex ring have dogged the once prominent Socialist ever since criminal charges were dropped against him in the New York case and […]

South African businesses suffer under rolling power cuts

South Africa’s cash-strapped state-run power company Eskom said on Thursday (February 5), it’s again implementing rolling blackouts after losing power at five of its generating units. Eskom said it needed to reduce demand by 2,000 megawatts and would be plunging large areas of Johannesburg into darkness from early morning until 2100GMT. The disruption was noticeable on the streets with traffic lights out at many major intersections, while businesses were left struggling to cope. Popular restaurant […]

Low oil prices hit BP profits

Shell, Exonn and now BP – all have been hurt by low oil prices. The UK giant’s underlying profits in the final quarter were down 20% on a year earlier at $2.2bln. Full year profit was 10% lower at just over $12bln. BP is slashing capital spending by a fifth to $20bln as a result. The oil giant did at least beat fourth quarter expectations thanks to a surprise profit from its Russian partner Rosneft. […]

Oil surges 8% as U.S. rig count plunges, shorts scramble

(Reuters) – Oil prices roared back from six-year lows on Friday, rocketing more than 8 percent as a record weekly decline in U.S. oil drilling fueled a frenzy of short-covering. In a rally that may spur speculation that a seven-month price collapse has ended, global benchmark Brent crude shot up to more than $53 per barrel, its highest in more than three weeks in its biggest one-day gain since 2009. The late-session surge was primed […]

ECB to decide on bond-buying plan for reviving euro zone economy

BY PAUL CARREL AND JOHN O’DONNELL FRANKFURT Wed Jan 21, 2015 6:11pm EST The new European Central Bank (ECB) headquarters is pictured in Frankfurt January 21, 2015. CREDIT: REUTERS/KAI PFAFFENBACH (Reuters) – The European Central Bank is poised to announce a plan on Thursday to buy government bonds, resorting to its last big policy tool for breathing life into the flagging euro zone economy and fending off deflation. Market expectations are sky-high for the ECB […]