Business | ABS-CBN News

Louis Vuitton group raises Tiffany bid to $16 billion: sources

Agence France-Presse
Nov 21 10:15 AM

LVMH, the owner of Louis Vuitton, Dior and Moet & Chandon increased its bid for the storied New York-based company to around $130 per share from $120 per share, the sources said. Read more »

LIST: Canceled flights due to bad weather, Nov. 21

ABS-CBN News
Nov 21 09:28 AM

Several Cebu Pacific flights were canceled Thursday due to bad weather, the Manila International Airport Authority said (MIAA). Read more »

Burger King kills off plastic toys from kids' meals in UK

David Yaffe-Bellany, The New York Times
Nov 21 09:14 AM

Faced with growing public concern over the proliferation of single-use plastic, Burger King has vowed to stop giving away plastic toys with children’s meals in Britain and has encouraged customers to deposit old toys in collection bins at the chain’s locations there. Read more »

What if porn had no pictures?

Marisa Meltzer, The New York Times
Nov 21 09:07 AM | Updated Nov 21 09:32 AM

Their goal is for Quinn to become the premier destination for nonvisual pornography, following in the footsteps of popular sites like Pornhub.com. Read more »

Huawei asks Canadian court to stay extradition process for CFO to US

Moira Warburton, Reuters
Nov 21 08:53 AM

Meng Wanzhou, 47, was arrested at the Vancouver International Airport on Dec. 1 at the request of the United States, where she is charged with bank fraud and accused of misleading the bank HSBC about Huawei Technologies' business in Iran. Read more »

Asian shares slide as Sino-US spat on Hong Kong clouds trade deal outlook

Hideyuki Sano, Reuters
Nov 21 08:44 AM

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.16 percent while Japan's Nikkei dropped 0.25 percent. Read more »

Google, Facebook business models threat to human rights: Amnesty

Agence France-Presse
Nov 21 08:38 AM

Amnesty International argued that offering people free online services and then using information about them to target money-making ads imperils a gamut of rights including freedom of opinion and expression. Read more »

New Pokemon games sell record-breaking 1.37 million copies in 3 days

Kyodo News
Nov 20 09:00 PM

Two new Pokemon video games sold around 1.37 million copies in Japan within the first three days of their release, a record for any title developed for Nintendo Co.'s Switch console, an estimate by a weekly game magazine showed Wednesday. Read more »

PSEi dips amid US-China trade tensions

ABS-CBN News
Nov 20 08:51 PM

Philippine shares fall alongside most Asian peers after US President Donald Trump's latest tariff threat against China.    Read more »

Alibaba eyes $12.9-B Hong Kong IPO after setting price

Agence France-Presse
Nov 20 07:14 PM

Asia's biggest company has called the listing a multi-billion-dollar vote of confidence in the city's markets as it is wracked by months of violent protests and the China-US trade war, which have sent its economy into recession. Read more »

Singapore proposes to regulate bitcoin futures

Reuters
Nov 20 07:08 PM

Singapore's central bank plans to bring bitcoin and other similar cryptocurrency futures traded on approved exchanges under its regulation in response to interest from international institutional investors, it said on Wednesday. Read more »

Suspension of rice imports won't impact inflation, says Diokno

ABS-CBN News
Nov 20 07:00 PM

"...On prices naman, sinusewerte pa rin tayo, mababa pa rin ang long term forecast of oil prices, sinuswerte tayo all the way. So, we’ll have a nice Christmas," says BSP Gov. Ben Diokno.  Read more »

Bangko Sentral launches standardized QR, platform for digital payments

ABS-CBN News
Nov 20 06:45 PM

The EGov Pay will allow consumers to make financial transactions with government agencies electronically, while QR Ph will push for a QR code standard for all digital transactions in the country to be adopted by all financial technology firms as well as banks, the BSP said.  Read more »

China cuts new benchmark rate to boost economy

Agence France-Presse
Nov 20 04:27 PM

China on Wednesday cut interest rates in a bid to shore up the world's number two economy as cooling domestic demand and a bruising trade spat with the United States hit growth. Read more »

Best way to profit from your home

Moneymax.ph
Nov 20 03:40 PM

You can make money from almost anything these days, including your very own home. Read more »

Robochef: Sony cooks up new AI unit for food revolution

Agence France-Presse
Nov 20 03:16 PM

Cooking robots and tastier recipes: Japanese electronics giant Sony on Wednesday launched a new artificial intelligence unit they hope will change the way we cook and eat. Read more »

Trump-Cook 'bromance' culminates with visit to Apple factory

Rob Lever, Agence France-Presse
Nov 20 03:05 PM

Apple announced in September it would keep making its Mac Pro computer in the United States, after obtaining tariff exemptions for some components in the high-end computers. Read more »

Emirates close to buying 30 Boeing 787 as it reviews fleet: sources

Reuters
Nov 20 02:59 PM

Emirates tentatively ordered 40 Dreamliners in 2017 but "tough" last-minute talks to finalize the order this week have hinged on negotiations over the fate of a massive separate order for 150 777X after the latter ran into delays, they said. Read more »

Huawei plays down impact of new US license extension

David Shepardson, Reuters
Nov 20 12:03 PM

Huawei said on Monday that the latest extension would not "have a substantial impact on Huawei's business either way". Read more »

Metro Manila Subway project to start this year, Tugade says

ABS-CBN News
Nov 20 11:19 AM | Updated Nov 20 11:47 AM

Clearing and construction for the country's first-ever subway system will start in December, Tugade told ANC's Headstart. The department is also working to upgrade all 44 commercial airports to operate even at night.   Read more »

Megaworld eyes P2.5-billion sales from Cavite residential development

ABS-CBN News
Nov 20 11:02 AM | Updated Nov 20 05:02 PM

The 18-hectare Arden Botanical Village, will have 329 "wide" lot options, the company said in a disclosure to the stock exchange.  Read more »

'Bureaucratic issues' pose risk to 'Build, Build, Build': Fitch Solutions

ABS-CBN News
Nov 20 11:00 AM | Updated Nov 21 12:00 PM

Despite a "well-established" framework for public-private partnerships, investors still see red tape as a risk, an analyst said. Read more »

Mudflow prompts Semirara to suspend coal mining on energy dept's order

ABS-CBN News
Nov 20 10:49 AM | Updated Nov 20 01:10 PM

The suspension order dated Nov. 14 will be effective until all conditions set by the Department of Energy (DOE) are met in relation to the Oct. 2 incident, Consunji-led Semirara told the stock exchange.  Read more »

Sales of grounded Boeing 737 MAX gather pace at Dubai Airshow

Ankit Ajmera and Tim Hepher, Reuters
Nov 20 09:01 AM

Such draft deals can take time to turn into final contracts but the signing gave embattled Boeing a public boost as it faces concerns over increased regulatory scrutiny following two fatal accidents that led to the eight-month-old grounding. Read more »

Asia shares numbed by trade noise, oil takes a spill

Wayne Cole, Reuters
Nov 20 08:59 AM

Asian shares lumbered lower on Wednesday as the Sino-US trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply saw oil prices suffer their biggest spill in 7 weeks. Read more »