The Philippine Stock Exchange Index recorded a 14-month high in the local stock index, with a 7, 082. 75 points, an increase of .79%.
Business
Asia shares up but gains limited as Ukraine sours mood
(Reuters) – eked out gains on Monday after seeing Wall Street recover from the latest round of tensions in the Ukrainian crisis, although renewed uncertainty over the volatile conflict put a firm lid on markets. The dollar was on the back foot against the safe-haven yen, weighed by a slide in Treasury yields. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.1 percent. Tokyo’s Nikkei .N225 gained 0.1 percent. News late on […]
Coca-Cola pays $2.2 billion for major stake in Monster Beverage
(Reuters) – Coca-Cola Co (KO.N) said Thursday it is making a cash payment of $2.15 billion for a 16.7 percent stake in Monster Beverage Corp (MNST.O) as the world’s largest soda maker seeks to expand into faster-growing categories such as energy drinks. Under the agreement, Coke will have two directors on Monster’s board. Coke will transfer ownership of its worldwide energy business including brands like Full Throttle and Burn, to Monster. Monster will transfer its […]
Tesla boosts model S Sedan’s warranty coverage after criticism
(Reuters) – Electric carmaker Tesla Motors Inc TSLA.O said on Friday it had boosted warranty coverage on its Model S sedan, a week after an influential U.S. consumer magazine highlighted problems with the $70,000-plus vehicle. Tesla announced that the drive unit warranty on the Model S has been increased to match that of the battery pack, bringing its coverage to eight years and “infinite” miles. The warranty extension will apply retroactively to all Model S […]
U.S. judge appoints lead counsel for GM ignition-switch cases
(Reuters) – A U.S. judge has appointed two lawyers who led cases against Toyota Motor Corp (7203.T) and a plaintiffs’ attorney from Texas to lead litigation against General Motors Co (GM.N) related to a faulty ignition switch that prompted the recall of millions of vehicles this year. U.S. District Judge Jesse Furman in the Southern District of New York, who is overseeing more than 100 cases against GM, on Friday tapped attorneys Steve Berman, Elizabeth […]
Ford recalls 160,000 Focus, Escape models for wiring problem
(Reuters) – Ford Motor Co (F.N) is recalling nearly 160,000 Focus ST sedans and Escape crossovers from model years 2013-2014 to correct a wiring problem that could affect engine performance, the company said on Friday. There are no crashes or injuries attributed to the problem, Ford said. It did not specify how many of each vehicle are covered by the recall. It is the 11th recall for the 2013 Escape. The compact crossover, one of […]
Wall Street ends higher after Ukraine concerns ease
(Reuters) – U.S. stocks advanced on Thursday after conciliatory comments from Russia helped ease concerns about escalation of the conflict in Ukraine and offset some uninspiring earnings. Gains were broad, with all but one of the S&P’s 10 primary sector indexes rising for the day. An S&P index of healthcare stocks .SPXHC gained 1.2 percent and led the advance, while an index of energy stocks .SPNY dragged, slipping 0.5 percent. Russian President Vladimir Putin said […]
Wall St. slips after two-day rally; energy shares drop
By Akane Otani NEW YORK Tue Aug 12, 2014 5:14pm EDT (Reuters) – U.S. stocks ended lower on Tuesday, snapping a two-day rally as energy shares tumbled on sliding oil prices. The pullback occurred on light volume typical of mid-August. Traders rushed to sell the stock of handbag and accessory maker and retailer Kate Spade & Co, which plummeted 25.4 percent to close at $29.00 in its busiest day of trading ever with 52 million […]
Asian shares skid as Obama confirms air strikes on Iraq
(Reuters) – Asian shares tumbled on Friday as investors sought out safe-haven assets on growing fears that conflicts in Ukraine and the Middle East could sap global growth, extending losses after U.S. President Obama said he had authorized air strikes in Iraq. Obama said in an address that he authorized targeted strikes to protect the besieged Yazidi minority and U.S. personnel in Iraq, after the Iraqi government requested help. “We can act carefully and responsibly […]
Asia stocks steady after Wall Street rally, dollar off peaks
By Shinichi Saoshiro TOKYO Mon Aug 4, 2014 8:32pm EDT (Reuters) – Asian stocks were mostly steady on Tuesday, halting the previous day’s slide after Wall Street rallied on upbeat earnings and relief over Portugal’s rescue of its largest listed bank, while lower bond yields kept the dollar away from recent peaks. MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed. Tokyo’s Nikkei inched up 0.1 percent. U.S. stocks rallied on Monday, lifted […]
McDonald’s CEO Thompson ‘under siege’ at home and abroad
(Reuters) – McDonald’s Corp CEO Don Thompson sure could use a break. The head of the world’s biggest restaurant chain, who for much of his two years at the helm has been battling to spark sales growth in the United States and Europe, got battered by headline-grabbing bad news in late July. In the final days of the month, its China business was hit with a food-safety scare involving a key supplier; the chain got ensnared in […]
GM looks for alternative supplies in China after deadly factory blast
(Reuters) – General Motors said on Sunday that it had asked its main Chinese supplier to find an alternative source of components after an explosion ripped through a factory a day earlier killing at least 69 people. The accident at the Zhongrong Metal Products Co Ltd plant in Kunshan city in the eastern province of Jiangsu was China’s worst industrial accident in a year. Aside from the fatalities, some 200 people were injured in the […]
