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by Tom WILLIAMS David Luiz made a surprise return to Chelsea on Wednesday as English Premier League clubs splashed out on the final day of a record-breaking, billion-pound mid-year transfer window. In late deals, Brazil defender Luiz returned after two years at Paris Saint-Germain, while France midfielder Moussa Sissoko left Newcastle United for Tottenham Hotspur. The two moves took spending for England’s top flight to about £1.17 billion ($1.54 billion, 1.38 billion euros) — smashing […]
Stocks in the red in the final trading session of August. Weakness in oil weighing on stocks, including Exxon and Chevron. They were among the top drags on the S&P 500. For the month the major U.S. indexes were mostly lower with the Nasdaq adding one percent. Two-year U.S. Treasury yields posting their biggest monthly increase since December on growing expectations for a Federal Reserve rate hike. “We have the increased likelyhood, it looks like […]
BRUSSELS, Belgium (AFP) – by Danny KEMP The EU ordered tech giant Apple on Tuesday to pay a record 13 billion euros in back taxes in Ireland, a move Washington warned could damage hugely important transatlantic economic ties. Brussels said Apple, the world’s most valuable company, avoided virtually all tax on its business in the bloc by illegal arrangements with Dublin which gave the company an unfair advantage over competitors. Apple and the Irish government […]
DUBLIN, Ireland (AFP) – by Douglas DALBY The European Commission’s demand for Apple to pay Ireland some 13 billion euros in back taxes has put the country in the strange position of refusing the windfall for fear of scaring away valuable investment. Rather than welcoming the cash — equivalent to around five percent of its gross domestic product — the government has vowed to appeal the ruling, fearing an ever greatest cost to its […]
(Eagle News)– The Department of Finance (DOF) is now planning to impose taxes on “fatty foods” similar to the rate of cigarettes and alcoholic beverages. “We also plan to impose taxes on sugary and fatty foods, akin to sin taxes,” Finance Secretary Carlos Dominguez III told Senators in his presentation on Tuesday. Junk foods and softdrinks are expected to be part of this new category. This reform belongs to the set proposed by the DOF, […]
SINGAPORE, Singapore (AFP) — Oil prices tumbled in Asia Monday on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month. Iranian oil minister Bijan Zanganeh on Friday said his country wanted its share of the crude market to return to levels seen before Western nuclear sanctions were imposed on it 13 years ago. The comments suggest Tehran might not join possible efforts by OPEC and […]
WASHINGTON, United States (AFP) -by Douglas Gillison The embattled manufacturer of EpiPens said Thursday it would help extreme allergy sufferers meet the costs of the life-saving devices after a five-fold price hike sparked outrage. Mylan NV, which holds a near-monopoly on the manufacture of the epinephrine injectors, said it would expand existing programs to defray out-of-pocket costs but did not say it would lower prices. After a series of price hikes, a pack of two […]
HONG KONG, China (AFP) — Most Asian markets slipped Wednesday as traders trod water ahead of a key speech by Federal Reserve boss Janet Yellen this week, while oil suffered fresh losses on persistent glut worries. With speculation growing that US interest rates could rise by the end of the year, Yellen’s comments at a global central bankers meeting in Jackson Hole Friday will be scoured for forward guidance on US central bank policy. There […]
LOS ANGELES, United States (AFP) — Oscar-winning Jennifer Lawrence was named the world’s highest-paid actress for the second year running on Tuesday, with estimated pre-tax earnings of $46 million. The 26-year-old American raked in the lion’s share from a profit share in the final “Hunger Games” movie, which grossed $650 million, Forbes magazine said. An upfront fee for the forthcoming space thriller “Passengers” also helped the 26-year-old push her pay day above second-ranked Melissa McCarthy, who […]
WASHINGTON, United States (AFP) — World Bank chief Jim Yong Kim will seek a second term of office, the global development lender said Tuesday as it announced the start of a selection process for the presidency. Kim’s bid to remain as president comes in the face a rare public rebuke from the Bank’s rank-and-file, who earlier this month declared that the institution faced a “crisis of leadership.” “The executive directors expressed unanimous support for an open, […]
HONG KONG, China (AFP) — Energy firms sank in Asian trade on Tuesday as oil prices extended the previous day’s sharp losses due to profit-taking after a recent rally and fresh worries about a global oversupply. Even a fall in the dollar, which usually makes crude cheaper, could not stop the slide in the commodity after Iraq flagged a pick-up in output and rebels in key producer Nigeria announced a ceasefire. Investors were also treading water as […]
MANILA, Philippines (Eagle News) — Oil companies will hike pump prices by more than Php 1.00 per liter effective Tuesday (August 23) morning. Eastern Petroleum Corp., Flying V, Seaoil Philippines Inc. and Chevron Philippines Inc. (CPI) or Caltex announced that prices for both diesel and kerosene will increase by Php 1.45 per liter while gasoline prices will go up by Php 1.35 per liter. Phoenix Petroleum Philippines will also increase pump prices of its gasoline […]
