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The Philippine’s flag carrier expanded its operation in Davao City to accommodate more clients from adjacent municipalities and provinces, opening a new branch in this Southern city. Philippine Airlines (PAL) now has three branches in Davao City, and aims to increase its presence in more destinations in Luzon, Visayas and Mindanao. Davao City mayor Sara Duterte-Carpio lauded PAL’s expansion in the city, which is one of the airline’s busiest routes. She said “Dabawenyos” are working […]
HONG KONG, China (AFP) — Technology and energy firms were the biggest losers as Asian markets tumbled on Wednesday, extending a retreat across Europe and New York. A global equity rally has hit the buffers this week as the US probe into Russia’s alleged election meddling sows uncertainty, Britain struggles to reach a Brexit deal with the European Union and traders remain cautious about Washington’s ability to push through tax cuts. A key drag for […]
SAN FRANCISCO, United States (AFP) — US drugstore chain CVS Health announced Sunday it would buy medical insurer Aetna for about $69 billion in a move that would create a new giant in the healthcare sector. “The transaction is expected to close in the second half of 2018,” CVS said in a statement, adding: “It is subject to approval by CVS Health and Aetna shareholders, regulatory approvals and other customary closing conditions.” © Agence France-Presse
LONDON, United Kingdom (AFP) — Social media titan Facebook will open a new office in London on Monday that is set to be its biggest engineering hub outside America, the company has announced. The investment in the office, near Oxford Street in the heart of the city’s West End district, will also lead to the creation of 800 jobs, more than half of which will be in engineering. The company, which opened its first office […]
KINSHASA, DR Congo (AFP) — Swiss food giant Nestle announced Sunday that it would close its factory in Kinshasa, capital of the Democratic Republic of Congo, a potential market of 80 million people but one beset by poverty and political instability. “We will close our factory and offices by the end of January and continue developing our economic distribution model through third parties,” a spokeswoman for the group told AFP. The decision affects 120 people […]
NEW YORK, United States (AFP) — A US regulator cleared the way Friday for bitcoin futures to trade on major exchanges, but warned investors the digital currency is prone to elevated risk and volatility. The decision opens the door for the Chicago Mercantile Exchange and CBOE Futures Exchange to offer contracts for futures of the virtual currency, rather than trading the actual currency. The deal with the Commodities and Futures Trading Commission agency also enables […]
(Reuters) — Apple is designing its own power-management chips for use in iPhones from as early as 2018, according to the business daily, Nikkei. The news sank the shares of Apple’s current supplier, Dialog Semiconductors, in Frankfurt, even though Dialog said its business relationship with Apple hasn’t changed. But it’s a good move for Apple, says Chief Strategy Officer & Head of Technology Research, GBH Insights’ Daniel Ives. “So, I think there’s two sort of […]
WASHINGTON, United States (AFP) — Digital currencies like bitcoin could pose a threat to financial stability as they gain wider use, a chief Federal Reserve banking oversight official said Thursday. The remarks from newly-installed Fed Vice Chairman for Supervision Randal Quarles came as bitcoin took a vertiginous dive on Thursday after skyrocketing earlier in the week to more than 10 times its value at the start of the year. Bitcoin is increasingly being embraced by Wall Street, […]
LOS ANGELES, California (Reuters) — Car manufacturers’ attempts to square what U.S. consumers want against the clean vehicles regulators and investors demand will go on display in Los Angeles this week at an auto show that has moved away from calling itself just an auto show. Automakers on Wednesday previewed new models for the media at an event called AutoMobility LA, reflecting an emphasis on digital technology and new ways to get around, such as […]
NEW YORK, United States (AFP) — A strong US economic growth report lifted the Dow to a fresh record close Wednesday, even as the tech-rich Nasdaq plunged following a sell-off in high-flying technology shares. Meanwhile, bitcoin hogged the headlines after the virtual currency, which is not traded on world markets, smashed its way to historic peaks, racing past $11,000 a day after breaking $10,000 on a wave of feverish speculation as institutional investors looked to […]
by Joseph Sotinel and Simon Sturdee Agence France Presse VIENNA, Austria (AFP) — Oil-producing nations inside and outside OPEC are expected later Thursday to extend a deal keeping a lid on output in an attempt to push crude prices higher. But it remained unclear whether they would prolong by six or nine months the accord to reduce production by 1.8 million barrels a day, after its expiry date of March 31, 2018. The unprecedented agreement […]
HONG KONG, China (AFP) — Asian markets were mixed on Wednesday following fresh records on Wall Street as Donald Trump’s tax-cut plans moved a step closer, while the pound extended gains on reports of a breakthrough in Brexit talks. Traders brushed off early worries caused by another North Korean missile test, while Bitcoin continued its surge to break the $10,000 mark for the first time. New York traders cheered a forecast-beating US consumer confidence survey […]
