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By Caesar Vallejos EBC Correspondent Businessmen, through the statement of the Makati Business Club (MBC), strongly condemned the blast that killed 14 people and injured 67 others at the Roxas night market in Davao City calling it a horrific act of terror. “This act of cowardice, which targeted the lives of innocent civilians and sought to foster fear in people, has no place in any society,” the statement said. Earlier reports mention that the Abu […]
WASHINGTON, United States (AFP) – by Douglas Gillison The US labor market slowed precipitously in August but continued a six-year streak of monthly job creation, according to figures released Friday by the Labor Department. The economy added 151,000 new positions for the month, a sharp drop from July’s revised total of 275,000 new non-farm positions and also well below analyst expectations. Leading up to Friday’s disclosure, markets had been intently awaiting the new numbers as […]
DUBLIN, Ireland (AFP) – by Douglas DALBY Ireland’s fragile minority government agreed Friday to recommend an appeal against the EU’s tax ruling on Apple but said it was recalling parliament early to debate the issue. The deal overcomes a split in cabinet surrounding the 13 billion euros ($15 billion) plus interest that the EU says Apple owes in back taxes, putting Ireland at the centre of a row between Europe and the United States. Apple […]
by Hui Min NEO and Marie JULIEN Berlin’s mega consumer electronics fair IFA opens its doors to the public Friday, offering a dizzying array of high-tech goods from home robots to surround sound systems to drones. Some tech giants are also seeking to define what they believe will be the next gizmos and digital must-haves to drive the industry. – The future of TV is… – Oval. Or any shape, says Sharp, which showed off […]
(Eagle News)– Social Security System (SSS) President Emilio De Quiros said on Friday that they will need to increase the contribution rate if the planned P2,000 pension increase would be followed. According to De Quiros, SSS contribution is estimated to be raised by five to six percent. De Quiros said the increase in contributions should be gradual for the SSS to extend its actuarial life to about 70 years. Former President Benigno Aquino […]
FRANKFURT, Germany (AFP) – The German government has accused Fiat-Chrysler of incorporating emissions cheating technology into some vehicles, in a letter to the European Commission seen by AFP on Thursday. “From our point of view, evidence has been provided of the use of an illegal defeat device” in some diesel-powered Fiat-Chrysler vehicles, the letter from the German transport ministry reads. Germany launched an investigation into emissions cheating earlier this year after Volkswagen’s September 2015 admission […]
by Tom WILLIAMS David Luiz made a surprise return to Chelsea on Wednesday as English Premier League clubs splashed out on the final day of a record-breaking, billion-pound mid-year transfer window. In late deals, Brazil defender Luiz returned after two years at Paris Saint-Germain, while France midfielder Moussa Sissoko left Newcastle United for Tottenham Hotspur. The two moves took spending for England’s top flight to about £1.17 billion ($1.54 billion, 1.38 billion euros) — smashing […]
Stocks in the red in the final trading session of August. Weakness in oil weighing on stocks, including Exxon and Chevron. They were among the top drags on the S&P 500. For the month the major U.S. indexes were mostly lower with the Nasdaq adding one percent. Two-year U.S. Treasury yields posting their biggest monthly increase since December on growing expectations for a Federal Reserve rate hike. “We have the increased likelyhood, it looks like […]
BRUSSELS, Belgium (AFP) – by Danny KEMP The EU ordered tech giant Apple on Tuesday to pay a record 13 billion euros in back taxes in Ireland, a move Washington warned could damage hugely important transatlantic economic ties. Brussels said Apple, the world’s most valuable company, avoided virtually all tax on its business in the bloc by illegal arrangements with Dublin which gave the company an unfair advantage over competitors. Apple and the Irish government […]
DUBLIN, Ireland (AFP) – by Douglas DALBY The European Commission’s demand for Apple to pay Ireland some 13 billion euros in back taxes has put the country in the strange position of refusing the windfall for fear of scaring away valuable investment. Rather than welcoming the cash — equivalent to around five percent of its gross domestic product — the government has vowed to appeal the ruling, fearing an ever greatest cost to its […]
(Eagle News)– The Department of Finance (DOF) is now planning to impose taxes on “fatty foods” similar to the rate of cigarettes and alcoholic beverages. “We also plan to impose taxes on sugary and fatty foods, akin to sin taxes,” Finance Secretary Carlos Dominguez III told Senators in his presentation on Tuesday. Junk foods and softdrinks are expected to be part of this new category. This reform belongs to the set proposed by the DOF, […]
SINGAPORE, Singapore (AFP) — Oil prices tumbled in Asia Monday on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month. Iranian oil minister Bijan Zanganeh on Friday said his country wanted its share of the crude market to return to levels seen before Western nuclear sanctions were imposed on it 13 years ago. The comments suggest Tehran might not join possible efforts by OPEC and […]
