(Eagle News)- President Rodrigo Duterte is getting the applause of business fellowship for policies that would lead to economic surge and many companies say they are making new investments in the country. Less attention has been paid to the potential positives of bloody war against crime and drugs, one is being the catalyst of boost to business. Some even see the campaign as an effective tool, along with the new administration’s focus on building new […]
Business
VW cuts 28,000 workers’ hours over supply woes
FRANKFURT, Germany (AFP) – by Tom BARFIELD Embattled auto giant Volkswagen said on Monday it would halt production at six plants in Germany for several days as a legal dispute with two key suppliers deepened. Around 27,700 workers would have their work hours slashed by the end of August in a new headache for the group which is struggling to move past an emissions cheating scandal that is costing billions. VW had been forced to take […]
ArcelorMittal to pay $110 mn fine for price fixing in S.Africa
JOHANNESBURG, South Africa (AFP) – Steelmaker ArcelorMittal has agreed to pay a $110-million (88-million-euro) fine for illegal price fixing in South Africa, the country’s competition watchdog announced Monday. The Competition Commission launched a probe into steel producers in the country in 2008 following concerns around high steel prices, and found that the company colluded with its competitors in “fixing” prices and allocating customers. The company “admits having been involved in the long steel and scrap metal cartels, […]
Sustainable development is not just a roadmap – Impact investing leader
By Caesar Vallejos EBC Correspondent “Sustainable development is not just a road map,” James Donovan, ADEC Innovations CEO and Global CEO Alliance (GCEOA) Chairman declared during Green Talk, a corporate sustainability lecture organized by Citi Green Team Philippines on August 17, 2016, at Citi Tower in Makati City. “What most businesses fail to realize is that sustainable development is a radically new way of combining technology, business model and innovation to create new […]
Harley-Davidson in $15m pollution settlement with US
WASHINGTON, United States (AFP) – US motorcycle giant Harley-Davidson on Thursday entered a $15 million settlement with US authorities who accused the company of making and selling illegal devices that increased air pollution from its bikes. The company, the iconic American manufacturer of large and loud motorcycles, agreed to buy back and cease selling so-called “super tuners,” which improved performance but increased hydrocarbon and nitrogen oxide emissions. The company has produced and sold about 340,000 […]
Gawker.com to shut down next week
SAN FRANCISCO, United States (AFP) – Gawker said Thursday its flagship website will shut down next week, after a court order to pay $140 million to retired wrestling star Hulk Hogan over a sex tape drove the company to file for bankruptcy. The announcement came just two days after Spanish-language broadcast television network Univision made a winning bid of $135 million for Gawker’s other assets. Gawker founder Nick Denton broke the news to staff members on […]
Households, businesses urged to adopt solar energy
Eagle News — More households and business firms are urged to invest in solar technology which can create huge impacts in lowering electricity bills amid climate change. Naderev Saño, Executive Director of Greenpeace Southeast Asia, said cost of investment on solar panel for homes of a middle-class family with five members can reach at least Php 50,000. Saño said investment in solar technology, which has a lifespan of 25 to 30 years, can reduce electricity […]
Software maverick McAfee warns China of hacking weakness
by Benjamin CARLSON BEIJING, China (AFP) — China leads the world in connecting everyday devices to the internet, but is creating huge hacking vulnerabilities for itself and others by doing so, renegade American software pioneer John McAfee warned Tuesday. Hackers had already been able to gain control of devices such as safes and heating controls, and take over the computer systems of automobiles and aeroplanes, he said. “China is taking the lead in putting intelligence […]
BHP Billiton posts $6.39 billion loss
by Glenda KWEK SYDNEY, Australia (AFP) — BHP Billiton on Tuesday reported an annual net loss of $6.39 billion, its worst-ever result, as the impact of a mine dam disaster in Brazil and weak commodity prices hit the world’s biggest miner. Mining firms have been battling big price declines in the commodities market, with the outlook uncertain despite a recent improvement in prices. The results for the year to June 30 followed a $1.91 billion […]
NAIA expressway set to complete by December
PASAY City, PHilippnes (Eagle News) — The Department of Public Works and Highways (DPWH) said Monday that NAIA expressway project is nearing completion and may be fully operational by December. Public Works and Highways Secretary Mark Villar said that by September, the Phase 2a project would be fully completed during a media tour to the site. Villar added that he was confident that the traffic situation at the domestic and international airport complex in Pasay City […]
Philippines’ Global Ferronickel may resume China high-grade ore shipments
(REUTERS) Global Ferronickel Holdings Inc , the Philippines’ second-largest nickel producer, said on Monday it may resume shipments of higher grade ores to China in the second half of 2016 when prices are anticipated to improve further. The company expects a “better performance” in the second half, after booking losses in the first half on lower volumes and prices, and pass an audit by the government, which has launched a crackdown on miners violating environmental […]
VW gets approval for another 460,000 diesel-car fixes
(Reuters) Volkswagen has won German regulatory approval for technical fixes on another 460,000 diesel cars with illicit emissions control software, it said on Sunday, raising the number of vehicles cleared for repair to over 5 million. Approval by Germany’s motor vehicle authority KBA is valid for countries throughout Europe where 8.5 million diesel cars are affected by Volkswagen’s emissions test-rigging scandal. About 11 million autos are implicated globally. In the United States, where VW’s manipulations […]
