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QUEZON City, Philippines (Eagle News) — After seven years, the peso reached its lowest exchange rate against the United States dollar at Php 48.26 per $1.00. Budget Secretary Benjamin Diokno assured the public’s worry about higher inflation rate and said that the purchasing power of the peso remains. The trading closed to P48.28 on Tuesday (September 27). Almost $525 million went to volume traded. Earlier, Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said that […]
(REUTERS) The World Trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the United States. The new figure of 1.7 percent, down from the WTO’s previous estimate of 2.8 percent in April, marked the first time in 15 years that international commerce was expected to lag the growth of the world economy, the trade […]
SAN FRANCISCO, United States (AFP) — The Walt Disney Company is evaluating a potential bid for Twitter, Bloomberg reported on Monday, citing people familiar with the matter. Unconfirmed reports that Twitter is interested in selling itself buoyed the San Francisco-based company’s shares at the end of last week, and the stock price rose around a percentage point on Monday as talk of Disney’s interest spread. Twitter co-founder and chief executive Jack Dorsey is on […]
by John BIERS NEW YORK, United States (AFP) — Deutsche Bank’s woes and the looming first debate between battling US presidential candidates Donald Trump and Hillary Clinton helped send global markets broadly lower Monday. Banking shares in the US and Europe fell sharply following reports that Berlin has refused state aid to fortify Deutsche Bank as it faces a multibillion-dollar fine in the United States over its sale of mortgage-backed securities before the 2008 financial […]
SEOUL, South Korea (AFP) — Tens of thousands of unionised workers at South Korea’s Hyundai Motor staged their first full strike on Monday for more than a decade after negotiations over a wage increase stalled. Nearly 50,000 workers at Hyundai Motor’s three plants across the country — including the main one in the southern city of Ulsan — walked off the job throughout Monday, said a spokesman for its labour union. The day-long stoppage is […]
by Glenn CHAPMAN SAN FRANCISCO, United States (AFP) — Yahoo said Thursday a massive attack on its network in 2014 allowed hackers to steal data from half a billion users and may have been “state sponsored.” Yahoo, which confirmed details of the breach months after reports of a major hack, said its investigation concluded that “certain user account information was stolen” and that the attack came from “what it believes is a state-sponsored actor.” “Based […]
by Glenn CHAPMAN SAN FRANCISCO, United States (AFP) — Mark Zuckerberg and his wife on Wednesday pledged $3 billion over the next decade to help banish or manage all disease, pouring some of the Facebook founder’s fortune into innovative research. “This is a big goal,” Zuckerberg said at a San Francisco event announcing the effort of the Chan Zuckerberg Initiative established by the couple. “But we spent the last few years speaking with experts who […]
BRUSSELS, Belgium — The EU’s top court on Wednesday ruled that there can be no exceptions to a ban on animal testing by cosmetics manufacturers in the bloc. The case arose in Britain after three companies sought to market cosmetics that were developed for sale in China and Japan using animal tests outside the European Union. The European Court of Justice said EU law bars any cosmetic product containing ingredients which have been tested on […]
YELLOWKNIFE, United States (AFP) — De Beers officially opened one of the world’s largest diamond mines on Tuesday near the Arctic Circle in Canada’s remote far north. The Gahcho Kue mine is situated in the outback some 280 kilometers (174 miles) northeast of Yellowknife, the capital of the Northwest Territories. “It’s the largest diamond mine brought into production in the last 13 years and it’s the biggest outside South Africa,” De Beers chief executive Bruce […]
by Glenn Chapman SQUAW Valley, United States (AFP) — GoPro took to the sky Monday with a much-awaited drone called Karma in the hope of lifting profits which have been battered by competition from all sides. The launch of the Karma drone, tailored for its first-person-action mini-cameras, and of improved Hero5 cameras comes on the cusp of the important year-end holiday shopping season which last year was a huge disappointment. In the fourth quarter of 2015, […]
LONDON, United Kingdom (AFP) – British banks risk losing their automatic right to trade in EU states as the country leaves the European Union, Germany’s central bank chief said in an interview out Monday. Jens Weidmann suggested that if Britain left the European Economic Area (EEA) — a group of 31 European Union and other European states which allows them to be part of the single market — it could mean financial services companies moving […]
SEOUL, South Korea (AFP) – Samsung rolled out replacements for Galaxy Note 7s plagued by exploding batteries in South Korea on Monday, but only a handful of customers appeared to have taken the opportunity to swap their handsets. The world’s largest maker of mobile phones recalled 2.5-million units of its top-of-the-range model more than two weeks ago, after batteries began catching fire while charging. But users snubbed the South Korean electronics giant’s offer of a […]
