Business | ABS-CBN News

US to unveil crackdown on counterfeit, pirated e-commerce goods

David Shepardson, Reuters
Jan 24 10:19 AM

The Trump administration plans to unveil efforts on Friday to crack down on counterfeit and pirated goods sold on major e-commerce sites and urge companies to do more to vet third-party sellers and increase self-policing efforts. Read more »

How tech taxes became world’s hottest economic debate

Jim Tankersley, The New York Times
Jan 24 08:42 AM

The fight pits traditional allies against each other, with European countries like France, Italy and Britain clashing with the US over their plans to impose new taxes on digital services provided by companies like Amazon and Google. Read more »

Wuhan beyond coronavirus: Steel, Cars and Spicy Noodles

Carlos Tejada, The New York Times
Jan 24 08:25 AM

Wuhan embodies China’s rise as a global economic power, in all its complexities. Read more »

Strong flying demand cushions MAX earnings hit at US carriers

John Biers, Agence France-Presse
Jan 24 07:07 AM

Earlier this week, Boeing extended to mid-2020 the target date for winning regulatory approval to allow the MAX back in the skies after two deadly crashes. Read more »

TikTok inks music deal as it sets up shop in California

Agence France-Presse
Jan 24 04:00 AM

TikTok on Thursday licensed a catalogue of independent music as it worked to build on the momentum of the social networking app specializing in video snippets.   Read more »

DTI chief urges Nokia to help PH workers find other jobs

ABS-CBN News
Jan 24 02:26 AM

MANILA - The Philippines' trade secretary on Thursday urged Nokia to assist its soon-to-be unemployed workers in finding jobs at other companies, a week after it was disclosed that it will close its research and development center (R&D) in Quezon City this year. Read more »

Duterte greenlights probe on Ayala-UP contract

ABS-CBN News
Jan 24 12:21 AM

President Rodrigo Duterte approves a probe into an agreement between Ayala Land and the University of the Philippines on the UP Technohub. Read more »

Malacañang unfazed by PH growth slowdown

ABS-CBN News
Jan 24 12:05 AM

Despite slower growth for 2019, the Philippine government is confident the country's economy will be able to bounce back this year. Read more »

PH shares soar following 2019 GDP report

ABS-CBN News
Jan 24 12:04 AM

Philippine shares managed to rise above the region following the release of the country's 2019 GDP numbers.  Read more »

ECB leaves policy unchanged

Agence France-Presse
Jan 23 09:55 PM

European Central Bank chiefs left easy-money policy settings in place Thursday, leaving president Christine Lagarde to detail a rethink of its aims and methods and update her assessment of risks facing the eurozone. Read more »

British officials propose limited 5G role for China's Huawei - sources

Jack Stubbs, Reuters
Jan 23 08:44 PM

British officials have proposed granting Huawei a limited role in the UK's future 5G network, resisting US calls for a complete ban over fears of Chinese spying, two people with knowledge of the matter told Reuters. Read more »

Philippine aviation authorities ban flights to Wuhan

ABS-CBN News
Jan 23 06:30 PM | Updated Jan 23 07:15 PM

Philippine aviation authorities on Thursday banned flights to the Chinese city of Wuhan as a precaution, following the outbreak of the novel Coronavirus.  Read more »

Duterte agrees with review of UP-Ayala Technohub deal: spox

Arianne Merez, ABS-CBN News
Jan 23 04:33 PM | Updated Jan 23 10:44 PM

President Rodrigo Duterte allowed the review of a lease deal between the University of the Philippines and Ayala Land, his spokesman and chief legal counsel Salvador Panelo said Thursday as the latter sought to verify claims that the government might be on the losing end of the contract. Read more »

‘Nothing to worry’ about gov’t review of contracts, Palace assures investors

Arianne Merez, ABS-CBN News
Jan 23 03:04 PM

Businessmen with government contracts have “nothing to worry” about the administration’s reviews, Malacañang said Thursday as President Rodrigo Duterte sought to “correct” the “onerous” deals entered into by his predecessors.   Read more »

Bangko Sentral warns public vs fake Facebook account, bank note designs

ABS-CBN News
Jan 23 02:59 PM | Updated Jan 23 07:35 PM

The BSP made the warning after a picture of supposedly new banknote designs began circulating online after being posted by a fake central bank Facebook page.  Read more »

Globe urges users to avail of free LTE SIM card upgrade

ABS-CBN News
Jan 23 02:51 PM

Subscribers using non-LTE sim cards who received a text message from Globe can just visit any official store to get a replacement for free, the telecommunications company said in a statement. Read more »

Singapore's Scoot cancels flight to China's Wuhan over virus outbreak

Reuters
Jan 23 12:30 PM

Singapore Airlines' budget carrier Scoot on Thursday cancelled its daily flight to China's central city of Wuhan, online flight information showed, after authorities locked down the center of a fast-spreading virus outbreak. Read more »

Cebu Pacific tells passengers to seek medical help if flu-like symptoms occur

ABS-CBN News
Jan 23 12:15 PM

Passengers aboard Cebu Pacific Flight 5J 111 that flew from Hong Kong to Manila Wednesday were advised to seek medical attention if they exhibit flu-like symptoms including runny nose, cough, sore throat or fever "as a precautionary measure," Cebu Pacific said in a statement.  Read more »

Asian markets rattled as China steps up virus response

Agence France-Presse
Jan 23 11:51 AM

Hong Kong and Shanghai both dropped 0.9 percent in morning trade while Tokyo was 0.6 percent lower.  Read more »

Jet disinfection, face masks: Airlines ramp up defense vs China virus

ABS-CBN News
Jan 23 10:23 AM | Updated Jan 23 12:23 PM

Airlines in the Philippines stepped up defenses against a new SARS-like virus from China, introducing jet disinfection, protective equipment and health checks, representatives said Thursday, as authorities moved to head off a billowing regional health crisis. Read more »

Philippine GDP grows 6.4 percent in fourth quarter

ABS-CBN News
Jan 23 10:06 AM | Updated Jan 23 12:47 PM

Gross domestic product expanded 6.4 percent in the fourth quarter compared to the revised 6 percent in the third quarter and the 6.4 percent median forecast of 22 economists in a Bloomberg poll.  Read more »

Trump revives trade battle with Europe with threat to cars

Alex Pigman and Stuart Williams, Agence France-Presse
Jan 23 08:06 AM | Updated Jan 23 08:07 AM

US President Donald Trump, fresh from calling a trade truce with China, threatened on Wednesday to impose crippling tariffs on European autos unless the EU budges on a transatlantic deal.  Read more »

Boeing hit to US economy a worry for Trump reelection bid

Heather Scott, Agence France-Presse
Jan 23 07:07 AM

President Donald Trump is counting on a strong US economy to seal his reelection victory but the Boeing crisis and ongoing trade frictions could undermine that strategy.   Read more »

Adidas bets on recycled material 'to combat ocean plastic'

Agence France-Presse
Jan 23 07:01 AM

German sportswear giant Adidas said Tuesday more than half of the polyester used in its products this year would come from recycled material, including millions of shoes made from plastic waste.  Read more »

New CEO stands by 737 MAX, eyeing reset at troubled Boeing

John Biers, Agence France-Presse
Jan 23 06:52 AM

Boeing Chief Executive David Calhoun sought to pivot from a bruising period of crisis and scandal on Wednesday, pledging a renewed commitment to safety and transparency and endorsing the long-term viability of the 737 MAX plane.  Read more »