Business | ABS-CBN News

DITO says it has enough resources to challenge PLDT, Globe

Jessica Fenol, ABS-CBN News
Feb 20 03:41 PM

DITO, a consortium of Dennis Uy's Udenna Corp, Chelsea Logistics and state-run China Telecom, is "confident" that there is enough resources to rollout a total of 5,000 towers, its chief administrative officer Adel Tamano said.    Read more »

China cuts loan rate as it battles coronavirus impact

Agence France-Presse
Feb 20 03:06 PM | Updated Feb 20 03:17 PM

China on Thursday announced it would cut interest rates in a bid to boost the economy, as it battles the economic fallout of the new coronavirus outbreak.   Read more »

Third telco DITO 'leaning heavily' on Chinese partner, allays cybersecurity fears

Jessica Fenol, ABS-CBN News
Feb 20 02:20 PM

China Telecom has been "doing business here for a long time," providing services to other players, DITO chief admnistrative officer Adel Tamano said, allaying cybersecurity fears.  Read more »

Cebu Pacific slashes domestic fares to blunt virus blow on tourism

ABS-CBN News
Feb 20 01:07 PM | Updated Feb 20 02:15 PM

The Gokongwei-led carrier said base fares would be offered for as low as P88, including for travel "within the next few days." Read more »

China's ride-hailing giant Didi readies dividers in cars vs coronavirus

Minghe Hu, South China Morning Post
Feb 20 11:40 AM

Beijing-based Didi plans to invest about 100 million yuan ($14.3 million) in this safety measure, which involves installing protective plastic sheets that are expected to prevent droplet transmission of the COVID-19 disease, according to the company's statement on Wednesday. Read more »

MGM Resorts says data breach exposed some guests' data

Michael Levenson, The New York Times
Feb 20 11:33 AM

MGM did not disclose the number of customers affected, but Under the Breach, a firm that monitors cybercrimes and provides intelligence about potential data breaches to companies, said 10.6 million people were affected. Read more »

Metro Pacific adds Los Baños Doctors to hospital stable

ABS-CBN News
Feb 20 11:25 AM

Metro Pacific Hospital Holdings, led by tycoon Manuel Pangilinan, invested P250 million in Los Baños Doctors Hospital and Medical Center, taking a 51-percent equity interest, MPIC told the stock exchange. Read more »

'Cut, copy and paste' inventor dies, Silicon Valley mourns

Agence France-Presse
Feb 20 11:05 AM

Silicon Valley on Wednesday was mourning a pioneering computer scientist whose accomplishments included inventing the widely relied on "cut, copy and paste" command. Read more »

Moody's says Philippine banks 'stable' as it monitors virus risk

ABS-CBN News
Feb 20 09:51 AM | Updated Feb 20 10:08 AM

Moody's is also monitoring the impact of the coronavirus outbreak, which has hurt consumption in parts of Asia. Under its "central case," the pathogen will be contained by the end of the first quarter, said Eugene Tarzimanov, lead analyst for banks in Southeast Asia. Read more »

Kickstarter is first major tech firm to unionize

Glenn Chapman, Agence France-Presse
Feb 20 09:47 AM

Workers at the Brooklyn-based firm voted 46 to 37 to unionize in a first for major internet firms long known for providing generous pay and perks to employees.   Read more »

Robinsons Retail divests from nail care business Chic Centre

ABS-CBN News
Feb 20 09:15 AM

Chic Centre, whose brands include Bobbie, Chic, Colortrends and Rain, "is no longer aligned" with Robinsons Supermarket, the retail arm of the Gokongwei Group told the stock exchange. Read more »

World Bank pandemic bond under pressure as coronavirus spreads

Karin Strohecker, Reuters
Feb 20 08:43 AM

The bonds, issued by the World Bank's International Bank for Reconstruction and Development (IBRD), offer investors high coupons in return for the risk of having to forgo some or all their money in the event of pandemic outbreaks of a number of infectious diseases, with the funds channeled instead to countries in need of aid. Read more »

Global markets higher on hopes virus impact will be short-lived

Agence France-Presse
Feb 20 08:22 AM

World stock markets rose on Wednesday, buoyed by investors' hopes that the deadly new coronavirus will have only a short-term impact on corporate earnings and economic growth. Read more »

Boeing supports state tax change to avoid EU sanctions

Agence France-Presse
Feb 20 08:20 AM

US aerospace manufacturer Boeing said Wednesday it supports a tax reform in Washington state that would eliminate a tax break but defuse a long-standing dispute with the European Union. Read more »

Bloomberg's transaction tax sets stage for clash with Wall Street clients

Michelle Price and Pete Schroeder, Reuters
Feb 20 08:01 AM

Presidential candidate Michael Bloomberg's decision to back a tax on trades marks a blow for Wall Street lobbyists which had seen the moderate Democrat as a potential ally, said analysts and lobbyists.  Read more »