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What's New
- Dollar mostly falls as equities edge higher
NEW YORK - The dollar mostly fell Friday as stocks surged nearly 500 points on reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary. - Leaders of Asia, Americas face pressure on economy
LIMA, Peru - Leaders of Asia and the Americas faced mounting pressure Friday to stop the spread of the financial crisis and resuscitate moribund free-trade talks as they flew into Lima for a weekend summit. - US stocks jump on report of Geithner nomination
NEW YORK - Wall Street is ending a volatile week with an unexpected jolt of confidence following reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary. The major indexes have jumped more than 5 percent, with the Dow Jones industrials surging nearly 500 points. - Crude oil futures waver
HOUSTON - The price for regular gasoline tumbled below $2 a gallon (53 cents a liter) Friday, its lowest point in more than three years, and crude oil futures edged higher in volatile trading. - Govt told to explain half-year implementation of tax relief law
MANILA, Philippines - The Supreme Court has ordered the government to comment on the allegations of Senator Manuel A. Roxas that it is not fully implementing a wider tax relief for minimum wage earners. - Taiwanese HTC seeks to double RP sales
MANILA, Philippines - TAIWANESE luxury mobile phone maker HTC is eyeing triple-digit growth in its local operations next year despite the threat of slowing demand due to the slowing economy. - Asiatrust posts net loss, meets CAR requirement
MANILA, Philippines - Asiatrust Development Bank, Inc. posted a net loss of P5 billion in the nine months to September, as income from loans shrank after it adopted a cautious lending stance amid a worsening financial crisis in the US and Europe. - Ayala Land launches RP version of Silicon Valley
MANILA, Philippines - Ayala Land, Inc. may bid for the development of a 90-hectare property of the University of the Philippines (UP) in Diliman, which is envisioned to become the country"s version of Silicon Valley. - Cityland to sell P900-million debt
MANILA, Philippines - Listed Cityland Development Corp. sought regulatory approval on Friday to sell to the public short-term commercial debt worth P900 million to finance three projects and pay off maturing loans. The commercial debt will pay 6% interest and mature in a year. - GM to extend holiday shutdown, will cut production
DETROIT - General Motors Corp. will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent.
