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.
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.
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.
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.
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.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion