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by Glenn CHAPMAN SAN FRANCISCO, United States (AFP) — Apple on Friday sued Qualcomm, accusing the California chipmaker of abusing its market power to demand unfair royalties, echoing charges filed days earlier by US antitrust regulators. Tech giant Apple said in the court filing that it has been overcharged “billions of dollars” by its chipmaking partner’s “illegal scheme.” The company also claimed Qualcomm owes it a billion dollars but is refusing to pay in retaliation […]
BMW’s chief of sales and marketing Ian Robertson defends the German automaker’s decision to open a new factory in Mexico in 2019, despite warnings from President-elect Donald Trump that he will impose a border tax on cars imported from the country. https://youtu.be/mBxBGYpWhL8
MANILA, Jan. 8 – The Philippines would continue to enjoy low interest rates for so long as the country’s macroeconomic fundamentals are kept intact, the Department of Finance (DOF) said. Based on the DOF Economic Bulletin submitted to Finance Secretary Carlos Dominguez III, maintaining good macroeconomic fundamentals is the best way to keep the local interest rates down as the US Federal Reserve raises its key policy rate. Dominguez pointed out, however, that the Philippines’ stable […]
MANILA, Philippines (Eagle News) — Oil firms welcomed the new year by increasing their pump prices. Flying V, PTT Philippines, Pilipinas Shell Petroleum, Phoenix Petroleum Philippines, Unioil and Seaoil said the cost of gasoline increases by Php 0.70 centavos per liter and diesel by Php 0.60 centavos per liter starting Tuesday, January 3. Flying V, Petron and Shell also announced that the price of kerosene is up by Php 0.55 centavos per liter.
CCTV – China’s foreign trade has been picking up steadily in 2016, data from China’s General Administration of Customs (GAC) shows. GAC statistics shows that China’s foreign trade dropped 8.1 percent and 1 percent in the first quarter and the second quarter respectively, while the figure increased 0.6 percent in the third quarter and kept picking up in the last quarter. “China’s import and export has been picking up quarter by quarter. The total amount of […]
HONG KONG, China (AFP) — Tokyo followed Wall Street lower Thursday and oil edged down from recent highs as Toshiba’s stock plunged for the third straight day. The Dow receded after nearing the historic 20,000 benchmark with shares of some banks falling more than one percent after the stock prices had won outsized gains in the rally seen since US election day. Tokyo saw the biggest fall in Asia-Pacific Thursday with Japanese stocks down one […]
MANILA – President Rodrigo Duterte wooed a group of business leaders in Singapore by discussing the many developments and reforms in the Philippines especially in the key growth sectors: energy and infrastructure. “The Philippines is open for business and we welcome what you have to offer,” the President told them at the Jurong Ballroom of the Shangri-la Hotel in Singapore on Friday, Dec. 17. This would mean more investments and encouraging competition, putting an end […]
Chile vows to strengthen trade with China in the face of protectionist threats from US President-elect Donald Trump, during an official visit of the Asian giant’s president Xi Jinping. https://youtu.be/E4AeLn8_ORo
LONDON, United Kingdom (AFP) – HSBC shares rallied Monday in a positive response to quarterly profits after the British banking giant underwent a radical cost-cutting exercise. Adjusted pre-tax profit — which strips out one-off items and unfavourable currency movements — rose seven percent in the three months to September to $5.59 billion from a year earlier, beating analysts’ expectations. Reported pre-tax profit, however, plunged 86 percent from a year earlier to $843 million. That figure […]
NEW YORK, United States (AFP) – Twitter announced plans Thursday to cut nine percent of its workforce as the struggling social network reaffirmed its strategy to drive growth after failing to find a buyer. “We see a significant opportunity to increase growth as we continue to improve the core service,” chief executive Jack Dorsey said while releasing quarterly results showing more losses. “We have a clear plan, and we’re making the necessary changes to ensure Twitter […]
NEW YORK, United States (AFP) — Adidas doubled down on its business ties with rap star Kanye West on Wednesday, announcing a new line of footwear and accessories to be sold in dedicated shops. The Germany-based athletic wear giant said merchandise under the newly launched adidas + KANYE WEST label is an expansion of its existing YEEZY brand. “With adidas + KANYE WEST we are exploring new territories by opening up the sports world to […]
Singapore (AFP)—Oil prices recovered in Asia on Monday after a steep fall in the previous session, with US crude back above $30 a barrel as traders mulled the impact of a potential freeze by key producers. Oil spiked sharply last week after major exporters held talks on a potential agreement to reduce a global supply glut that has dragged prices to their lowest levels in nearly 13 years this month. Saudi Arabia and Russia, […]
