QUEZON City, Philippines – Low prices have been wrecking havoc among oil firms and producers for almost half of the year. But prices are climbing slowly in the past weeks and for the first time oil futures reach $50 which also caused allied energy stocks to go up. (Eagle News Service Described by Jay Paul Carlos, Video Editing and Uploaded by Vince Alvin Villarin) https://youtu.be/EV9TdR34Khw
Business
North Korea’s construction boom
QUEZON City, Philippines – In North Korea, the private sector is leading the construction boom which is changing the city’s skyline. (Eagle News Service Described by Jay Paul Carlos, Video Editing and Uploaded by Vince Alvin Villarin)
Bank heist runs cold in the Philippines
QUEZON City, Philippines – After three months, authorities were still not able to arrest any of the suspects as well as recover the bulk of the $81 million. Investigators said that certain laws in the Philippines make it near impossible to follow the money. (Eagle News Service Described by Jay Paul Carlos, Video Editing and Uploaded by Vince Alvin Villarin) https://youtu.be/qWHT5qiJxAQ
Google wins in retrial of Oracle copyright lawsuit
by Glenn CHAPMAN SAN FRANCISCO, United States (AFP) — A jury ruled Thursday that Google did not unfairly use parts of Java programming language, saving the tech giant from a possible multi-billion-dollar verdict in a lawsuit brought by business software firm Oracle. The retrial stemmed from a 2012 case in which Google also prevailed, and has been closely watched by the tech industry because of its implications for software innovation and copyright law. Oracle sought […]
PS4 sales hit 40 million as Sony console dominates
SAN FRANCISCO, United States (AFP) — Sony Interactive Entertainment announced Thursday that PlayStation 4 sales hit 40 million units, being snapped up at a record-setting pace. PS4 has dominated the market for the latest-generation consoles, with industry trackers pegging sales as being nearly double those of rival Microsoft Xbox One. “We are truly grateful for the enormous support from our fans and partners across the globe, which helped us achieve this significant milestone in such […]
McDonald’s French HQ raided in tax probe
PARIS, France (AFP) – French police said Thursday they had raided the French headquarters of McDonald’s and seized documents last week as part of an investigation into tax fraud. Agents of a special corruption, financial and tax crime unit searched the premises west of Paris on May 18, taking away company files, a police source said. French authorities suspect McDonald’s has been illegally lowering its tax bill by channelling French earnings to Luxembourg, where its European […]
Energy stocks jump in Asia as oil passes $50 a barrel
HONG KONG, China (AFP) — Energy stocks jumped in Asia Thursday after oil surged past $50 a barrel for the first time this year, providing a bright point as regional bourses generally took a breather. Oil prices, which have been edging towards the psychological barrier as global supply disruptions mount, were buoyed by data showing a fall in US crude inventories that put another dent in a stubborn glut. Canada’s central bank also announced that […]
McDonald’s in ‘historic’ agreement to contain Arctic cod fishing
OSLO, Norway(AFP) — Food giants McDonald’s and Tesco have signed a “historic” agreement to not expand cod fishing into untouched parts of the Arctic, where the ice melt has sparked fears of a rush on unexploited areas, Greenpeace said Wednesday. “This is a historic agreement that brings together the main players in the cod fishing” in the Barents Sea and the Norwegian Sea, said Frida Bengtsson, a marine environment specialist at Greenpeace. “In the absence […]
Tokyo shares open higher as markets eye G7 summit
TOKYO, Japan (AFP) — Tokyo shares opened sharply higher Thursday, building on the previous day’s gains driven by rising oil prices, with markets eyeing the start of a G7 leaders’ summit in Japan. The benchmark Nikkei 225 index at the Tokyo Stock Exchange rallied 1.02 percent, or 170.34 points, to 16,927.69 in opening deals, while the broader Topix index of all first-section shares climbed 0.96 percent, or 12.85 points, to 1,355.73. © 1994-2016 Agence France-Presse
China’s Huawei sues Samsung over wireless patents
WASHINGTON , United States(AFP) — Chinese technology titan Huawei said Tuesday it filed suit in the United States against Samsung, claiming its South Korean rival has infringed on patents on wireless connectivity for mobile devices. The lawsuit filed in federal court in California alleges that “Samsung and its affiliates have earned billions of dollars by selling (mobile) products that use Huawei’s technology.” Huawei said it was filing a similar lawsuit in China alleging infringement of […]
Adidas to launch robot-made shoes in Germany from 2017
ANSBACH, Germany (AFP) — Adidas, the German maker of sportswear and equipment, announced Tuesday that it will start marketing its first series of sport-shoes manufactured by robots in Germany from 2017. More than 20 years after Adidas ceased production activities in Germany and moved them to Asiainstead, chief executive Herbert Hainer, unveiled to the press the group’s new prototype “Speedfactory” in Ansbach in southern Germany. The new state-of-the-art 4,600-square-meter plant is still being built, but […]
Strongest day in three months for stocks
U.S. stocks powered higher on Tuesday as investors got comfortable with the possibility of an interest rate hike soon. Financial and tech stocks led the way. After the closing bell, Hewlett Packard Enterprise announcing it will spin off its enterprise services unit and merge it with CSC. HPE also reported quarterly revenue that was better than expectations. Toll Brothers’ stock surged after the homebuilder’s quarterly revenue rose nearly 31 percent. Best Buy shares dropping. The […]