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Volkswagen, Toyota buy into ridesharing
SAN FRANCISCO, USA – Toyota and Volkswagen announced separate partnerships Tuesday, May 24, with rideshare companies Uber and Gett, in the latest such moves by major carmakers.Japan's Toyota and...
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Philippine Airlines reveals wish list for Duterte
MANILA, Philippines – The chief of national flag carrier Philippine Airlines, Incorporated (PAL), has a short but complex wish list for president-elect Rodrigo Duterte: Rehabilitate the country's...
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FedEx acquires TNT for $4.9 billion
MANILA, Philippines – Memphis-based FedEx Corporation has acquired TNT Express N.V. for €4.4 billion ($4.9 billion), aimed at expanding its footprint.FedEx said in a statement on Wednesday, May 25,...
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Toyota to build new factory in Malaysia
KUALA LUMPUR, Malaysia – Japanese automotive giant Toyota announced Wednesday, May 25, it will build a new $489 million car assembly factory in Malaysia with an annual production capacity of 50,000...
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Marks & Spencer logs lower profits, warns on turnaround plans
LONDON, United Kingdom – British retail giant Marks & Spencer posted sliding annual earnings Wednesday, May 25, and its share price sank after warning that a new turnaround plan for its clothing...
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HP Enterprise plans $8.5B spinoff, merger
SAN FRANCISCO, USA – US technology group Hewlett Packard Enterprise said it plans to spin off and merge its corporate services business in a deal valued at $8.5 billion (7.6 billion euros).The...
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Royal Dutch Shell to axe 2,200 more jobs
LONDON, United Kingdom – Energy giant Royal Dutch Shell on Wednesday, May 25, said it was cutting at least another 2,200 jobs owing to low oil prices and following its takeover of smaller rival BG...
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DOF bares tax reform proposals to incoming chief Dominguez
MANILA, Philippines – Outgoing Finance Secretary Cesar Purisima will pass on to his successor Carlos Dominguez III a set of tax reform recommendations that are estimated to generate P164.5 billion to...
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IMF: Greece still at long-term risk despite bailout deal
WASHINGTON, USA – A breakthrough European Union agreement Wednesday, May 25, to release fresh bailout funds to Greece averted the threat of a massive default on its debt in coming months.But the...
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JG Summit founder sells $250M worth of shares
MANILA, Philippines – Business tycoon John Gokongwei has sold around $250 million (P11 billion) worth of shares in his listed conglomerate JG Summit Holdings, Incorporated, as part of estate...
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Ginebra in talks with 3 foreign liquor firms
MANILA, Philippines – Ginebra San Miguel, Incorporated– the liquor unit of conglomerate San Miguel Corporation– is in talks with 3 foreign firms engaged in the hard liquor business for possible...
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Silicon Valley billionaire at war with gossip site
NEW YORK, USA – Silicon Valley billionaire Peter Thiel has confirmed he is funding a legal battle against Gawker Media, which "outed" him nearly a decade ago.Thiel told the New York Times late...
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Metro Manila 'most problematic' for new cell sites – Globe
MANILA, Philippines – Because of opposition from homeowners' associations and difficulties in dealing with local politicians, Metro Manila is the most problematic area for the setting up of cell sites,...
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Symantec: SWIFT attackers' malware also used in PH bank attack
MANILA, Philippines – Security software company Symantec reported Thursday, May 26, that an unnamed bank in the Philippines was also attacked by the group that took $81 million from Bangladesh's...
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PH firms' confidence rebounds for Q2 2016
MANILA, Philippines – The Philippine business community looks to be getting its confidence back after a fast start for the economy in 2016 following disappointing growth last year.The Q2 Business...
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First Pacific group acquires 56% stake in Global Business Power
MANILA, Philippines – The main Philippine unit of Hong Kong-based First Pacific Company Limited on Friday, May 27, acquired 56% control of GT Capital Holding Incorporated’s power generation arm, Global...
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Duterte: My first major project is a railway
DAVAO CITY, Philippines – President-elect Rodrigo Duterte will prioritize the construction of a railway, he told media during a press conference on Saturday night, May 28."My first major project will...
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BOC suspends importer after misdeclaring sports car value
MANILA, Philippines – The shipment of a car importer has been put on hold by the Bureau of Customs (BOC) after misdeclaring the value of an imported luxury vehicle.The BOC has discovered that Amest...
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Bayer CEO invites environmental groups to discuss Monsanto bid
FRANKFURT, Germany – Bayer's chief executive said in an interview published Sunday, May 29, he is ready to meet environmental groups to address concerns about his group's plans to take over US...
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5 failed, shelved PPP projects under Aquino admin
MANILA, Philippines – It is now up to the next administration to push forward 5 public-private partnership (PPP) projects that did not push through under President Benigno Aquino III's watch. (READ:...
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