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(Reuters) – Former New York Mayor Michael Bloomberg will return as head of Bloomberg LP, the data and financial news company he founded in 1981, replacing Daniel Doctoroff who has decided to step aside, the company said on Wednesday. The privately held company, in which Bloomberg is the majority shareholder, said Doctoroff would step aside as president and chief executive at year-end. Bloomberg, whose fortune is estimated at more than $32 billion, had expected to […]
MANILA, September 1 (PNA) — Revenue collection of the Bureau of Customs (BOC) in the first seven months of 2014 grew by 18 percent or Php203.86 billion year-on-year. In a statement, the bureau said that the growth was posted from January to July this year, due to the continued improvements in valuation as well as a marginal increase in the volume of imported goods. Likewise, the collection for July reached P30.46 billion, or an increase […]
According to the business sector, Importation this last quarter may not reach peak season because of the problem of port congestion in Manila.
(Reuters) – International Business Machines Corp on Wednesday launched a computer system that can quickly identify patterns in massive amounts of data, an ability that IBM said should hasten breakthroughs in science and medical research. The computer system, Watson Discovery Advisor, understands chemical compound interaction and human language and can visually map out connections in data, the company said in a statement. IBM will make the service available through the cloud. Some researchers and scientists have already been […]
(Reuters) – A China-based supplier for Samsung Electronics Co Ltd and Lenovo Group Ltd said on Thursday it had never hired child laborers, denying allegations by a U.S.-based activist group. Samsung Electronics also said it had found no children or students working on the Samsung production line at the Huizhou-based factory of supplier HEG Technology, which was cited as violating China’s labor laws by the New York-based watchdog China Labor Watch. A Lenovo spokeswoman said the company would look into […]
(Reuters) – The U.S. Federal Bureau of Investigation said it is investigating media reports that several U.S. financial firms have been victims of recent cyber attacks. “We are working with the United States Secret Service to determine the scope of recently reported cyber attacks against several American financial institutions,” FBI spokesman Joshua Campbell said in a statement late on Wednesday. He did not name any firms or give further details. A Secret Service spokesman could […]
(Reuters) – Samsung Electronics Co Ltd on Thursday unveiled what it said was the first smartwatch capable of making and receiving calls without a mobile phone nearby, in the South Korean firm’s latest effort to find a new growth driver. The world’s biggest smartphone maker has been pushing hard to develop the wearable devices market as it looks to counter slowing earnings in its mobile division, which led to weaker-than-expected second-quarter earnings. Samsung is hardly alone in pushing wearables, […]
MANILA, Philippines — The Philippine economy grew by 6.4 percent in the second quarter, making the country the second fastest growing economy in the Asian region after China, according to the National Economic Development Authority (Neda) Thursday (Aug. 28) The second quarter growth was higher than the 5.3 percent growth posted during first quarter of 2014. “I am pleased to report to you that economic growth accelerated to 6.4 percent in the second quarter of 2014. […]
(Reuters) – Microsoft Corp Chief Executive Officer Satya Nadella is set to visit China in late September, a source familiar with the matter said on Thursday, as the Chinese government conducts an into the world’s largest software company. It is not clear if Nadella, who took over as Microsoft CEO in February, will meet with any Chinese government representatives as part of his visit, or try to resolve issues with the State Administration for Industry […]
(Reuters) — After losing colleagues in two plane disasters this year the 19,500 staff of Malaysia Airlines (MAS) now face a new ordeal – a quarter of them may lose their jobs at the unprofitable airline. Deep job losses, route cuts and a change of leadership are expected to feature in a restructuring plan being prepared by Malaysia’s government, likely to be announced when MAS also reports second-quarter results, probably the last before being de-listed. The numbers are […]
(Reuters) – A strong earthquake that jolted residents of California’s Napa Valley wine country from their beds on Sunday caused insured property damage likely in the hundreds of millions of dollars, but the region’s total economic losses will be several times that, experts said on Monday. The magnitude 6.0 quake, the biggest to hit California’s Bay Area in 25 years, struck before dawn on Sunday near Napa, injuring more than 200 people and damaging dozens of buildings […]
German luxury car Mercedes-Benz has been found guilty of manipulating prices of after-car services in China but penalties are yet to be imposed.
