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Tesla reaches deal to buy SolarCity for $2.6B
NEW YORK, USA – Electric car maker Tesla said on Monday, August 1, it won agreement from SolarCity to acquire the solar company for $2.6 billion, confirming a deal that has been criticized on Wall...
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CA stops SEC order on Ongpin's insider trading case
MANILA, Philippines – The Court of Appeals (CA) has issued a temporary restraining order (TRO) on the Securities and Exchange Commission (SEC) decision on businessman Roberto Ongpin's insider trading...
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South Korea suspends sale of 80 Volkswagen models
SEOUL, South Korea – South Korea on Tuesday, August 2, banned the sale of 80 Volkswagen AG models and handed down a $16 million fine in its latest response to the German carmaker's emission-cheating...
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Nestle to invest P2 billion in new plant for MILO
MANILA, Philippines – Switzerland-based global food and beverage giant Nestle unveiled plans to invest P2 billion in a new manufacturing facility in the Philippines to support growing domestic...
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New Greek bailout finds IMF in a political bind
WASHINGTON, USA – Ever since the International Monetary Fund (IMF) participated in the first Greek bailout 6 years ago, the stinging suspicion has been that the Fund is under Europe's thumb.Now the IMF...
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#AskTheTaxWhiz: Tax amnesty and holiday the way forward?
Dear Mr Tax Whiz,Are campaign expenditures taxable? How about the excess campaign funds? Senate President Aquilino "Koko" Pimentel III filed Senate Bill No 296 to impose tax on excess campaign...
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PLDT's income drops by 33% on Rocket Internet losses
MANILA, Philippines – PLDT Incorporated's net income dipped by 33% in the first half of the year, after it booked higher losses from its investment in German e-commerce company Rocket Internet SE, and...
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Filipino consumers most optimistic in the world for Q2 2016 – Nielsen
MANILA, Philippines – Filipinos have long been famous for having a sunny disposition, but a new survey by global research firm Nielsen has brought another title: the most optimistic consumers in the...
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Honda profit dented even as airbag crisis impact fades
TOKYO, Japan – Honda on Tuesday, August 2, said quarterly net profit slipped from a year ago, despite the fading impact of an exploding airbag crisis at supplier Takata.The Japanese automaker blamed an...
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DPWH chief Villar: Metro traffic jam 'can be solved in 2-3 years'
MANILA, Philippines – Metro Manila's traffic nightmare can be solved in 2 to 3 years, through major road infrastructure projects like the North Luzon Expressway (NLEX)-South Luzon Expressway (SLEX)...
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BMW powers through second quarter towards record year
FRANKFURT, Germany – A favorable world auto market helped German carmaker BMW to post profits 11% higher in the second quarter than the same period last year, results released on Tuesday, August 2,...
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Japan approves huge stimulus for sluggish economy
TOKYO, Japan – Japan's Cabinet on Tuesday, August 2, approved a mammoth 28-trillion yen ($273 billion) package in its latest attempt to stimulate lackluster growth, including cash to improve...
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Myanmar tourism boom set to bring 7.5M visitors a year
YANGON, Myanmar – Myanmar is hoping to lure 7.5 million tourists a year by 2019, an official said Tuesday, August 2, as the impoverished former junta-ruled nation emerges as one of Southeast Asia's hot...
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BSP closes 14th bank this year
MANILA, Philippines – A total of 14 banks in the Philippines have been shut down in the first half of 2016, as the Bangko Sentral ng Pilipinas (BSP) steps up its campaign against weak players.The...
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Senate inquiry into Luzon power blackouts sought
MANILA, Philippines – Senate Minority Leader Ralph Recto on Tuesday, August 2, filed a resolution seeking an inquiry into the simultaneous power interruptions in the island of Luzon.These blackouts,...
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P&G earnings rise, eyes sales growth in 2017
NEW YORK, USA – Procter & Gamble reported a jump in fiscal fourth-quarter earnings Tuesday, August 2, and predicted that sales would return to positive growth next year.Net income for the quarter...
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Customs holds release of misdeclared shipment from China
The Bureau of Customs (BOC) said on Wednesday, August 3, that it has held the release of 59 container vans of “misdeclared goods” from China at the Manila port.The shipment, which arrived at the Manila...
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Gov't to build automated citizen, business registries to cut red tape
MANILA, Philippines – To cut red tape and the processing time for government frontline services, the Department of Finance (DOF) and the Department of Information and Communications Technology (DICT)...
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Japan Credit Rating Agency affirms PH's BBB+ rating
MANILA, Philippines – The country's credit rating seems to have weathered the potentially turbulent past few months, which included tight elections, the maritime dispute with China, and Britain's...
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Pfizer earnings top estimates on higher sales
NEW YORK, USA – Pfizer reported better-than-expected second-quarter earnings Tuesday, August 2, due to solid sales of several pharma products that offset the hit from the strong dollar.Net income fell...
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