Contrary to a New York Post story, luxury e-commerce site Farfetch isn’t negotiating to buy Barneys New York. “The story is incorrect—Farfetch is not acquiring Barneys New York,” the online retailer said in a statement issued today. The Post story, headlined “Barneys in talks for sale to online luxury retailer Farfetch: sources,” suggests that Farfetch convinced the department store’s landlord to slash the rent for its Madison Avenue flagship and release several thousand square feet…"Farfetch Refutes Report of Plans to Buy Barneys New York"
McAfee has hired underwriters to pursue an initial public offering this year that its owners hope could value the cybersecurity company at at least $8 billion, according to people familiar with the matter. McAfee, partly owned by Intel, is working with Morgan Stanley and Bank of America, as well as a full banking syndicate for an IPO, which could take place this fall, said one of the people, who asked to not be identified because…"Cybersecurity Firm McAfee Prepares for a Possible IPO"
OPERADORA Portuaria Centroamericana is International Container Terminal Services, Inc.’s terminal in Cortes, Honduras. — COMPANY HANDOUT A SUBSIDIARY of Razon-led International Container Terminal Services, Inc. (ICTSI) said it is expecting to improve its operations at Puerto Cortes in Honduras with improved partnerships with government authorities. In a statement on Tuesday, ICTSI’s Operadora Portuaria Centroamericana (OPC) said it is coordinating with the Honduran government to improve systems and build road networks to expedite the movement of…"ICTSI subsidiary coordinates with Honduras government to improve systems, roads"
DMCI Mining Corp. reported a 19% decline in its net income in the first half, due to the lower average selling prices of nickel despite a 41% rise in shipments. In a disclosure on Tuesday, the mining unit of listed conglomerate DMCI Holdings, Inc. said it booked a net income of P254 million in the first six months of 2019 versus P316 million during the same period last year. Revenues were flat at P985 million,…"DMCI Mining income drops 19% in 1st half"
ASIA UNITED Bank Corp. (AUB) plans to tap the bond market as it looks to raise as much as P30 billion. “Please be advised that in the meeting of the Board of Directors held earlier today, the board of directors has approved a P30 Billion AUB Bond Program,” AUB said in a disclosure on Tuesday. “The terms, details and timing will be set by the management.” The purpose for the bond program was not disclosed.…"Asia United Bank sets up P30-billion bond program"
Former Uber engineer Anthony Levandowski was charged with stealing driverless technology from Alphabet’s Waymo unit, resurrecting the intrigue of the biggest legal battle to grip Silicon Valley in recent memory. The indictment announced Tuesday by federal officials in San Jose, California, adds a new criminal chapter to the saga that hung over Waymo’s civil claims of trade-secret theft against Uber. Even after the companies abruptly settled the litigation in the middle of a high-stakes trial last year, questions…"Ex-Uber Engineer Levandowski Charged by U.S. in Waymo Case"
MANILA WATER Co., Inc. said on Tuesday that it had signed a 250-million euro (around P14.5 billion), seven-year term loan facility with two foreign banks to fund its capital investment program within its water concession in Metro Manila’s east zone. “Major projects include development of medium-term water sources, improvements in existing distribution systems, construction of new sewerage treatment plants, and expansion of sewer networks,” the Ayala-led listed company told the stock exchange. The loan facility…"Manila Water secures P14.5-billion loan facility from Bank of China"
JAPANESE Finance Minister Taro Aso said he is closely watching the currency. TOKYO — Japanese Finance Minister Taro Aso said on Tuesday he was monitoring currency moves “with a sense of urgency” after a recent spike in the yen, using a phrase suggesting policy makers’ concern about excessive volatility. While declining to comment on specific foreign exchange levels, Aso underscored the importance of stability in the Japanese currency, which tends to be perceived as a…"Japan closely watching yen moves ‘with urgency’"
Go ahead, vinophiles. Raise a celebratory glass knowing that some of your favorite wines haven’t yet been dragged into President Trump’s ever-expanding trade war. Big Tech though just might sit this one out. The French wine industry on Tuesday was quick to hail a “no-tax” victory—even if it proves shortlived—a day after the G7 Summit wrapped up on its home turf in Biarritz. Things looked uncertain just a few days ago when Trump, in a…"A Tale of Two Industries: Why Winemakers Are Hailing a G7 Victory and Tech Companies Are Crying Foul"
Freeport Area of Bataan THE SECOND PACKAGE of the tax reform program will lift uncertainty over incentives and reverse the slump in foreign direct investment (FDI), a bank economist said Tuesday. “Very crucial is the TRABAHO bill because the problem with being left in dark about what the final incentives or absence of incentives is going to look like,” Bank of the Philippine Islands lead economist Emilio S. Neri, Jr. said during an economic forum…"Tax incentives law seen bringing ‘rapid’ FDI growth"