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Customs exec eyes online auction of seized goods
MANILA, Philippines – A senior Customs official has proposed the online auction of seized goods to keep syndicates from rigging the process.Deputy Commissioner for Intelligence Jessie Dellosa, who...
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Top 10 companies 'Filipinos want to work for' in 2016
MANILA, Philippines – Diversified conglomerate San Miguel Corporation (SMC) and nutrition and wellness multinational Nestlé Philippines top the list of companies Fillipinos would most like to work for,...
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Mytaxi, Hailo to merge in Europe-wide taxi hailing app
FRANKFURT, Germany – Germany-based mytaxi and Britain's Hailo said on Tuesday, July 26, that they would merge their two taxi hailing apps to become Europe's biggest app-based taxi service.In a...
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Drinks lift LVMH profits as fashion stalls
PARIS, France – LVMH, the world's biggest luxury goods company, on Tuesday, July 26, reported higher profits for the 6 months to June, helped by a strong drinks division, while fashion failed to...
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Volkswagen gets preliminary approval for US emissions settlement
SAN FRANCISCO, USA – A federal judge in California granted preliminary approval on Tuesday, July 26, to a $14.7 billion settlement over Volkswagen's emissions cheating scandal.At the close of a hearing...
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Apple talks services amid drop in iPhone sales, profit
SAN FRANCISCO, USA – With iPhone sales and profits sliding, Apple on Tuesday, July 26, sought to highlight its growth in services as it seeks to reduce dependence on its main cash driver.In its...
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CA junks MRT3 owners' appeal to stop gov't from getting more trains
MANILA, Philippines – The Court of Appeals (CA) reaffirmed a court decision not to stop the transportation department from acquiring new Metro Rail Transit Line 3 (MRT3) trains from a different...
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Gov’t deficit rises to P120.3B in H1 2016
MANILA, Philippines – After posting a string of budget surpluses last year, the national government recorded a fiscal deficit of P120.3 billion in the first half of 2016 on the back of increased...
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Visayas, Mindanao flights drive Cebu Pacific's passenger volume
MANILA, Philippines – The country's largest budget carrier, Cebu Pacific Air, breached its 10-million passenger mark during the first half of the year, primarily drived by popular domestic destinations...
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Japan PM unveils $266B stimulus plan to boost economy
TOKYO, Japan – Japan's government Wednesday, July 27, announced a stimulus package worth more than 28 trillion yen ($266 billion) in its latest attempt to fire up the lukewarm economy, with the central...
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Malaysia Airlines to buy 50 Boeing jets
KUALA LUMPUR, Malaysia – Struggling Malaysia Airlines on Wednesday, July 27, announced plans to purchase 50 Boeing aircraft for $5.5 billion as it continues efforts to recover from devastating twin...
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UK drugs giant GSK to invest $361M despite Brexit
LONDON, United Kingdom – Drugmaker GlaxoSmithKline on Wednesday, July 27, revealed plans to invest £275 million into 3 of its British manufacturing sites, shrugging off Brexit worries.The investment –...
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Nissan profit skids on yen rally
TOKYO, Japan – Nissan on Wednesday, July 27, blamed a surge in the yen and struggles in its home market for the first decline in April-June net profit in 4 years.The Japanese automaker said net profit...
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Japan latest battleground in Airbnb home-sharing war
TOKYO, Japan – Sarah Takeda thought she had a good little business renting a traditional tatami-mat room in her house on Airbnb.But she and other hosts in Japan are learning the hard way that the...
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Japan's Nintendo logs over $234M loss despite Pokemon Go
TOKYO, Japan – Video game giant Nintendo said Wednesday, July 27, it logged a huge first quarter net loss, despite global hoopla over the launch of Pokemon Go which came too late to boost figures.The...
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Airbus profit lifted by exceptionals
PARIS, France – Airbus Group said Wednesday, July 27, its net profit rose 15% in the first half of the year to 1.76 billion euros ($1.94 billion), but the gain was due to exceptional items that masked...
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Boeing reports $234M loss after unexpected costs
NEW YORK, USA – Boeing reported a second-quarter loss Wednesday, July 27, due to elevated costs for an Air Force contract and for commercial air production as it confirmed its full-year plane...
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Falling international sales continue to dog Coca-Cola
NEW YORK, USA – The sluggish global economy, more and healthier competition, and currency market turbulence again dragged on Coca-Cola Company's earnings in the second quarter, the company said...
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EU abandons budget fines against Spain, Portugal
BRUSSELS, Belgium – The European Commission on Wednesday, July 27, backed away from slapping fines on Spain and Portugal for running high deficits, avoiding what would have been a landmark move to...
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Weak profits may prod Deutsche Bank to speed up restructuring
FRANKFURT, Germany – Deutsche Bank acknowledged on Wednesday, July 27, that it may be forced to push its restructuring faster, as it booked a 98% fall in profits in the second quarter.Deutsche's...
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