Wed, Aug 30, 2017 - Page 10 News List

World Business Quick Take

Agencies

SOCIAL MEDIA

Facebook tightens ad rules

Facebook on Monday said that pages that make a habit of linking to bogus news stories would no longer be able to advertise at the world’s leading online social network. The move is the latest shot fired by Facebook in its war against “fake news” used to deceive instead of enlighten. “If Pages repeatedly share stories marked as false, these repeat offenders will no longer be allowed to advertise on Facebook,” product managers Tessa Lyons and Satwik Shukla said in a blog. “This update will help to reduce the distribution of false news, which will keep pages that spread false news from making money.” The social network already did not allow ads that link stories determined to be false by third-party fact-checkers.

TECHNOLOGY

Robots to deliver pizza

Driverless pizza delivery is to take a test spin of sorts in Ann Arbor, Michigan, as Domino’s Pizza Inc and Ford Motor Co team up to research reactions to robots bringing dinner to the driveway. While the pizza is to arrive in an autonomous-capable Ford Fusion, there will still be a company engineer at the wheel, manually driving the car through the streets. The goal of the partnership is to examine how customers react to stepping out of their homes and walking to the car to fetch their pizza from a locked warming compartment, rather than having it carried to their doorstep. “The majority of our questions are about the last 50 feet [15m] of the delivery experience. For instance, how will customers react to coming outside to get their food?” Domino’s USA president Russell Weiner said in a statement.

DISTRIBUTION

Bunzl posts 18% profit rise

British business supplies distributor Bunzl PLC posted an 18 percent rise in first-half profit, as benefits from recent acquisitions continued to support its growth during the period. Adjusted pretax profit rose to £248.3 million (US$321.9 million) in the six months ended June 30, from £210.6 million a year ago, said the company, which supplies products ranging from safety gear for builders and packaging materials for supermarkets. Group revenue rose 20 percent to £4.11 billion, while organic revenue grew 3.7 percent. The company had in June estimated a 3 to 4 percent rise in first-half underlying revenue, helped by acquisitions as well as business wins in North America.

TRADE

Peru, Australia discuss FTA

Peru expects a “very ambitious” free-trade agreement (FTA) with Australia that covers goods, services and investments to be implemented as early as next year, Deputy Minister of Trade Edgar Vasquez said on Monday. The two nations resumed free-trade talks in Australia on Monday following a first round of negotiations last month in which “a lot of progress was made,” Vasquez said. “This is going to be an agreement that we should be able to implement as soon as possible, starting in 2018,” Vasquez said by telephone in Lima.

ENERGY

Total accused of fraud

The government of Equatorial Guinea on Monday said it has demanded 73 million euros (US$88 million) from French oil giant Total SA over “fraud” in fuel sales made between 2010 and 2012. “Following an investigation, we found a suspicious and fraudulent situation,” Minister of Finance Miguel Egonga Obiang said, as he announced the claim. No further details were immediately available on the alleged fraud, although the nation has also referred the case to its justice system.

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