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WASHINGTON, United States (AFP) — US cable company Comcast, which in December dropped an attempt to acquire 21st Century Fox, is considering relaunching that bid even though Walt Disney Co. has reached a deal, the Wall Street Journal reported. The report, based on sources close to the matter, comes as Disney works to complete a $66.1 billion acquisition of part of Rupert Murdoch’s empire. If approved by antitrust authorities, Fox would add the 20th Century […]
by Michelle FITZPATRICK Agence France-Presse FRANKFURT AM MAIN, Germany (AFP) — European aircraft manufacturer Airbus on Friday said it had agreed to pay a fine of 81.25 million euros ($99 million) to end a German corruption probe into the 2003 sale of Eurofighter jets to Austria. Prosecutors in Munich said in a statement that their investigation did not find evidence of bribery to secure the lucrative contract. But they said Airbus management had failed in […]
LOS ANGELES, United States (AFP) — Billionaire physician and investor Patrick Soon-Shiong agreed Wednesday to buy the Los Angeles Times, in a move aimed at reviving the fortunes of the newspaper amid recent turmoil. Publishing group Tronc Inc. said it reached a deal to sell the LA Times and San Diego Union-Tribune to Soon-Shiong’s Nant Capital for $500 million plus the assumption of $90 million in pension liabilities. The move comes after months of newsroom […]
QUEZON CITY, Philippines (Eagle News) — Meralco is set to implement an increase on its charges due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law and also in the face of the weakening peso against dollar. Meralco said that the increase may possibly hit P0.92 centavos per kilowatt/hour. Meralco explained that the increase includes the new tax to be imposed on transmission charges due to the tax reform package. […]
SINGAPORE, Singapore (AFP) — Boeing said Tuesday its global services unit has signed deals worth nearly $1 billion at the Singapore Airshow in areas like parts, maintenance, modification and training. The deals underscore the growing importance of the huge commercial aviation market in the Asia-Pacific region. “Boeing is serious about helping customers optimise the performance of their fleets and reduce operational costs,” said Stan Deal, president and chief executive of Boeing Global Services. Among the […]
SAN FRANCISCO, United States (AFP) — Amazon has received patents for electronic systems that could enable warehouse monitoring through electronic pulses that guide employees by location. The patent filings, first reported this week by the news site Geekwire, come amid concerns over workplace conditions for the company, which has seen rapid growth in its warehouses or “fulfillment centers” key to its logistics. The publicly available patent documents show how wrist-worn devices could deliver ultrasonic pulses […]
QUEZON CITY, Philippines (Eagle News) — The Social Security System (SSS) is planning to increase the monthly contributions of its members starting April. According to SSS, the proposed monthly contribution hike–from the current 11 percent to 14 percent—aims to prolong the state pension fund’s life until 2044. “Our prayer is to get this approved by the President and for us to also get it approved by the (Social Security) Commission so we can implement it starting […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher on Thursday, supported by modest gains on Wall Street with investor focus shifting to a number of upcoming corporate earnings announcements. The benchmark Nikkei 225 index, which fell for the sixth straight day on Wednesday, gained 0.70 percent, or 162.57 points, to 23,260.86 in early trade, while the broader Topix index was up 0.59 percent, or 10.88 points, at 1,847.59. The dollar fetched 109.19 yen in Asian […]
TOKYO, Japan (AFP) — Japanese technology firm Fujifilm on Wednesday announced 10,000 job cuts by March 2020 at its Fuji Xerox subsidiary, which it said was facing an “increasingly severe” market environment. In a major shake-up, Fujifilm also announced it would be combining Fuji Xerox with US giant Xerox, bringing both companies under its umbrella to create what it said was the world’s largest “document solutions company” by revenue. As part of a cost-cutting package […]
FRANKFURT AM MAIN, Germany (AFP) — German engineering giant Siemens said Wednesday that profits jumped in the first quarter, driven by rising demand for its products in areas ranging from renewable energy and trains to industrial robots. Siemens, which runs its business year from October to September, said in a statement net profit jumped by 12 percent to 2.2 billion euros ($2.7 billion) in the three months to December. Underlying or operating profit was also […]
NEW YORK, United States (AFP) — US private equity giant Blackstone has agreed to pay $17 billion for a majority stake in the financial services unit of Thomson Reuters, according to a joint statement issued Tuesday. The deal would give Blackstone a controlling stake in the unit that delivers financial research and other tools to market professionals through dedicated terminals and subscription services. Blackstone would get a 55 percent stake in the Finance & Risk […]
SEOUL, South Korea (AFP) — Samsung Electronics reported a 73 percent jump in its fourth-quarter net profit on Wednesday, setting a record for any three-month period, mainly driven by demand for its memory chips and display panels. Net profit for the October to December period rose to 12.26 trillion won ($11.4 billion), up from 7.09 trillion won a year earlier, the South Korean tech giant said in a statement. Samsung Electronics, the flagship subsidiary of […]
