Business

Yahoo to cut 15 percent of workforce

  (Reuters) — Yahoo Inc.,  said on Tuesday (February 02) it was exploring strategic alternatives in addition to the continued pursuit of the reverse spin-off of its Internet business. The company also said it would cut about 15 percent of its workforce and close offices in five locations. Shares of Yahoo, which also reported fourth-quarter results, fell 1.4 percent in after-hours trading on Tuesday. The company said it would simplify its product portfolio and that […]

PHL jumps six notches in 2016 US economic freedom report

MANILA, Feb. 2 (PNA) — The Philippines has jumped six notches in a Washington-based think-tank’s annual economic freedom report, improving its ranking from 76th to 70th place this year, an embassy report said Tuesday. Heritage Foundation reaffirmed economic freedom in the Philippines and recognized notable success in monetary freedom and management of public finance. The 2016 Index of Economic Freedom continued to grade the economies of 186 countries based on 10 independent factors called Economic […]

PHL’s economic freedom improves anew in ’16

MANILA, Feb. 2 (PNA) — The Philippine government on Tuesday hailed another improvement on the country’s ranking on the 2016 Index of Economic Freedom after reaching the 70th place against 178 countries, up from 76th last year. US-based think tank Heritage Foundation said economic freedom in the country is now “moderately free” after getting a score of 63.1 percent out of 100 points. Improvement of the country’s ranking is among the best in the past […]

China’s stock market fluctuations squeeze country’s army of granny investors

Chinese markets have had a bumpy start to the new year. Buffeted by the falling yuan and two days of stock exchange suspensions at the start of the month, the fluctuations have left the country’s legions of retail investors on edge. Unlike many western markets, where institutional investors like insurance and pension funds dominate, 80 percent of transactions in China’s markets are made by small investors. Many of them are retirees like He Meizhen, a […]

Phl economy growth of 5.8% in 2015, below earlier growth target

  (Eagle News) — The Philippine economy grew 5.8 percent in 2015, which was below the earlier government growth target of 7-8 percent. “The acceleration of growth from the first quarter to fourth quarter has been very encouraging, bringing the average full-year growth to 5.8 percent. Though this is lower than what we targeted for the year, this growth is respectable given the difficult external environment, the onset of El Nino, and the challenges in […]

Facebook shares soar as mobile drives big jump in ad sales

Facebook Inc smashed investors’ expectations with a 52-percent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users, sending its shares sharply higher after hours. The world’s biggest online social network bucked the trend of underwhelming tech results from Apple Inc and eBay Inc, in the face of economic uncertainty around the world and a strong U.S. dollar depressing the value of overseas sales. Facebook’s dominance in mobile […]

World Bank lowers 2016 outlook for oil to 37 U.S. dollars per barrel

  THE World Bank cut its 2016 forecast for crude oil prices to 37 U.S. dollars per barrel and foresaw other commodity prices to shed further this year due to weak demands from emerging economies. In its latest Commodity Markets Outlook report, the bank said the lower forecast reflects sooner-than-anticipated resumption of exports by Iran, greater resilience in U.S. production and weak growth prospects in major emerging market economies. Oil prices fell by 47 percent […]

Miss Universe 2015 deserves tax exemption – solon

According to Congressman Martin Romualdez, Miss Universe 2015 Pia Wurtzbach deserves tax exemption for the honor she brought to the country as well as her dedication to youth issues. Romualdez added that it is admirable that Wurtzbach volunteered to pay taxes and that she is an inspiration to the whole nation. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)

Expect LPG price rollback next month

Oil companies will implement three to four pesos roll back on every liter of liquefied petroleum gas next month as the price of oil continues to go down in the world market. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos) https://youtu.be/g5Yqxds2pD4

Apple sees first sales dip in more than a decade as super-growth era falters

Apple Inc forecast its first revenue drop in 13 years and reported the slowest-ever increase in iPhone shipments on Tuesday (January 26) as the critical Chinese market showed signs of weakening, suggesting the technology company’s period of exponential growth may be ending. The slowdown comes as Wall Street analysts worry the company does not have another blockbuster product to replace the iPhone. Apple does not report Watch sales, but it does not appear to have […]

Asian stocks struggle as headwinds grow

Japan’s Nikkei average went up 240.29 to 16949.19, while the broader Topix rose 23.08 points to 1383.31. South Korean shares bounded up early on Wednesday, helped by an overnight bounce on Wall Street and in crude oil prices while retail investors scrambled for bargains but gains were capped by weak China stocks and the pending outcome of a U.S. Federal Reserve meeting. The Korea Composite Stock Price Index (KOSPI) was up 0.7 percent at 1,1884.61 […]

Global oil prices to remain low throughout 2016: analyst

REUTERS — Global oil prices are expected to remain low in the near future according to analysts, even though the price has lately climbed to about 30 U.S. dollars a barrel. On Monday, the West Texas Intermediate for March delivery moved down 1.85 U.S. dollars to settle at 30.34 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery decreased 1.68 dollars to close at 30.5 dollars a barrel on […]