Bloomberg Financial regulators are pushing for legal changes in order to avoid the Philippines being placed on a global monitoring list for countries with weak anti-money laundering and terrorism financing controls. The government needs to implement the changes by October or risk being placed on a “grey” list by the Paris-based Financial Action Task Force, the Philippines Anti-Money Laundering Council ...

Bloomberg Chinese students far out-stripped peers in every other country in a survey of reading, math and science ability, underscoring a reserve of future economic strength and the struggle of advanced economies to keep up. The Organisation for Economic Co-operation and Development (OECD)’s triennial study of 15 year-old students across the world found that the four Chinese provinces tested — ...

Bloomberg China raised its 2025 sales target for electrified cars as the government tries to spur an industry that’s showing signs of slowing down. The country wants about 25% of new cars sold by 2025 to be electrified, according to a draft policy published by the ministry of industry and information technology. Its last roadmap on the industry announced in ...

Bloomberg Chinese state media said the government will soon publish a list of “unreliable entities” that could lead to sanctions against US companies, signalling trade talks between the two nations are increasingly under threat from disputes over human rights in Hong Kong and Xinjiang. The Communist Party-backed Global Times said in a tweet that the list was being sped up ...

Bloomberg A California college student has sued TikTok, the viral video service run by social media giant ByteDance Inc, for secretly funnelling her personal information to China while using her videos to create an online profile for targeted ads. The lawsuit, filed in the Northern District of California by full-time university student Misty Hong, alleges TikTok harvested her videos, gathered ...

Bloomberg Nissan Motor Co’s new chief executive officer said he is looking at what works and what doesn’t in the alliance with Renault SA and Mitsubishi Motors Corp, stressing that the partnership needs to benefit all parties. Makoto Uchida, appointed after a year of turmoil following the arrest of Carlos Ghosn, said in his first media conference that changes are ...

Bloomberg Singapore’s economy may be facing headwinds and inflation’s muted but companies in the Southeast Asian city-state are set to step up salary increases next year in a bid to retain staff, according to a survey. The overall increase projected for 2020 is 3.7%, up from a 3.6% rise this year, according to Mercer LLC, which conducted the survey across ...

Bloomberg China is pursuing a three-year pilot programme, led by five of its biggest utilities, to integrate and cut some coal-fired power capacity to help the debt-saddled industry, state media reported. The pilot, which runs through 2021, will seek to consolidate coal-power assets within five northwestern regions and reduce their capacity by up to one-third, according to a Shanghai Securities ...

Bloomberg Repsol SA embarked on the most ambitious attempt yet by an oil major to align itself with the Paris climate goals, saying it will eliminate all greenhouse gas emissions from its own operations and its customers by 2050. The Spanish giant’s exploration and production unit will focus on value instead of output growth, according to a statement from the ...

President Trump’s attempt to manipulate military justice had a sorry outcome with the firing of Navy Secretary Richard V. Spencer. For the past nine months, Spencer had tried to dissuade Trump from dictating special treatment for Navy SEAL Edward Gallagher — but in the end Spencer was sacked for his efforts to protect his service. With Spencer’s firing, Trump has ...