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MANILA, Philippines (AFP) — The Philippine economy grew more than expected in the third quarter, the government said Tuesday, as a rebound in consumer spending overcame pandemic lockdowns and other restrictions to rein in the fast-spreading Covid delta variant. Gross domestic product expanded 7.1 percent, according to the Philippine Statistics Authority, better than the 4.9 percent predicted in a Bloomberg survey and following a blockbuster 12 percent rate in the previous three months. The […]
SAN FRANCISCO, United States (AFP) — Robinhood on Monday warned users that a hacker talked their way past the stock-trading app’s defenses, stealing millions of user email addresses and more. The culprit called customer support and, pretending to be an authorized party, duped a Robinhood employee into providing access to the customer support computer system, a hacker technique referred to as “social engineering,” the company said in a blog post. After stealing information from Robinhood, […]
G20 leaders have formally endorsed the global agreement for a minimum 15 percent corporate tax, US Treasury Secretary Janet Yellen said Saturday, hailing it as a “historic” step. “Today, every G20 head of state endorsed an historic agreement on new international tax rules, including a global minimum tax that will end the damaging race to the bottom on corporate taxation,” she said. Some 136 countries representing more than 90 percent of global GDP have signed […]
American Airlines has had to cancel hundreds of flights this weekend due to staffing shortages triggered by weather-related disruptions, according to FlightAware data on Saturday. The website, which tracks delays and cancellations in the US skies, showed that American Airlines cancelled more than 800 flights on Friday and Saturday and expects more than 400 cancellations on Sunday. American Airlines CEO David Seymour said in a memo to staff on Saturday that the difficulties began on […]
by Glenn CHAPMAN Agence France Presse Amazon and Apple announced billions of dollars in quarterly profits on Thursday, but supply chain bottlenecks and the great chip shortage dented the tech giants, which have been riding a pandemic-stoked boom. Apple said sales of its signature iPhone and iPad were held back due to supply constraints, while Amazon struggled to get products and enough workers to meet demand. Both firms soared in the pandemic era […]
HONG KONG, China (AFP) — Asian markets were mixed Monday following last week’s gains with investors keeping a worried eye on a fresh Covid outbreak in China that could drag on the already stuttering economy. Long-running worries about inflation continued to cast a shadow over trading floors, though a healthy batch of earnings have tempered those concerns in the past couple of weeks. Reporting by tech titans including Amazon, Apple, Samsung and Microsoft are on […]
SAN FRANCISCO, United States (AFP) — A former Facebook worker reportedly told US authorities Friday the platform has put profits before stopping problematic content, weeks after another whistleblower helped stoke the firm’s latest crisis with similar claims. The unnamed new whistleblower filed a complaint with US financial regulator Securities and Exchange Commission that could add to the company’s woes, said a Washington Post report. Facebook has faced a storm of criticism over the past […]
TOKYO, Japan (AFP) — Japan’s core consumer prices edged up 0.1 percent in September, the first increase since March 2020 partly due to a rise in fuel prices, official data showed Friday. The latest figure was in line with market expectations, and comes after August’s prices were unchanged year on year, ending a run of 12 consecutive monthly declines. Core consumer prices — which exclude volatile fresh food — had been trimming the pace of […]
SAN FRANCISCO, United States (AFP) — Google announced Thursday it will lower a fee in its app store as pressure mounts on tech giants to loosen their grip over their online marketplaces. The commission on subscriptions taken by Google Play will be lopped in half to 15 percent starting in January, vice president of product management Sameer Samat said in a blog post. Currently Google gets a 30 percent cut for the first year of […]
HONG KONG, China (AFP) — Asian markets rose Tuesday, extending a Wall Street rally as optimism over corporate earnings provided some respite from long-running worries about inflation, central bank tightening and signs of a slowing economic recovery. A string of forecast-beating profit reports from businesses over the past week has provided a much-needed boost to investors who have for much of the year been waiting nervously for finance chiefs to start winding in the vast […]
HONG KONG, China (AFP) — Asian markets struggled Monday as inflation concerns returned to the fore, with commodity prices rallying and central banks preparing to roll back their ultra-loose monetary policies. Adding to the grey mood was data showing growth in China’s economy, the world’s second-biggest, slowed further in the third quarter, hit by a property-sector crisis and a looming energy crunch. The losses follow a healthy run-up last week across the world fuelled by […]
by Beiyi SEOW Agence France Presse BEIJING, China (AFP) — China’s economic growth tumbled more than expected in the third quarter, official data showed Monday, as the property sector struggled with tighter policy measures and an energy crisis loomed. After a swift coronavirus bounceback, recovery in the world’s second-biggest economy is losing steam, with gross domestic product growth coming in at 4.9 percent on-year, said the National Bureau of Statistics (NBS), citing an “unstable and […]
