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PH capital markets resilient amid political developments —shareholders group

The Philippines’ capital markets will remain resilient even as the investing community anticipates unfolding political developments after the arrest of former president Rodrigo Duterte to face the International Criminal Court (ICC), the Shareholders Association of the Philippines (SharePhil) said Wednesday. At the sidelines of its general membership in Makati City, SharePhil chairperson Ma. Aurora Geotina-Garcia explained that “from our point of...

2025-03-19T14:13:52Z

GMA Network Chairman Atty. Felipe L. Gozon named Communicator of the Year by IABC Asia Pacific

GMA Network Chairman Atty. Felipe L. Gozon was named Communicator of the Year by the International Association of Business Communicators (IABC) Asia Pacific. According to Darlene Cay’s report on “24 Oras” Monday, Gozon is only the third Filipino who has received the award, which is given to outstanding leaders in the communications industry. In his speech, Gozon thanked the IABC Asia Pacific for the “very great honor." “Being named Communicator...

2025-03-17T15:13:03Z

Trump Approves LNG Exports From Venture Global’s CP2 Project

President Donald Trump’s administration has granted Venture Global LNG Inc. conditional approval to export natural gas from a planned facility in Louisiana that had stalled under former President Joe Biden.

2025-03-19T04:53:54Z

Stock market today: Wall Street rises ahead of Fed announcement

NEW YORK (AP) — U.S. stock indexes are rising Wednesday as Wall Street waits to hear what the Federal Reserve will say in the afternoon about where interest rates may be heading. The S&P 500 was up 0.8% in afternoon trading. The Dow Jones Industrial Average was up 262 points, or 0.6%, as of 12:33 p.m. Eastern time, and the Nasdaq composite was 1% h...

2025-03-19T16:38:28Z

Nike CEO Gets Another Shot to Prove Sports-Over-Fashion Reset

Elliott Hill has made his strategy for turning around Nike Inc. very clear in his first five months as chief executive officer: return the sneaker giant to focusing on sports, not fashion.

2025-03-19T10:23:10Z

Map Shows US States Expected To Get Biggest Tax Refunds

Wyoming residents are expected to once again receive the highest tax refunds in the union, after years of topping the chart.

2025-03-19T13:39:05Z

UC Investment Chief Urges Bessent to Help Defend Elite Education

The University of California’s top investment officer urged Treasury Secretary and former hedge fund manager Scott Bessent to defend educational institutions that helped him and other Wall Street investors build their businesses.

2025-03-19T16:39:22Z

Millennials Are Sharing Their 'Plan' for Retirement – and It's Eye Opening

Newsweek discussed the post that has 16,000 comments with a financial expert, who urges millennials to start saving for retirement as soon as they get a job.

2025-03-19T11:13:59Z

Warship Maker Babcock Eyes FTSE 100 Promotion Amid Defense Rally

British warship maker Babcock International Group Plc is set to rejoin the FTSE 100 index amid a rally in defense stocks as Europe ramps up security spending.

2025-03-19T12:43:55Z

Jollibee Group earmarks P18B-P21B to open 700-800 new stores in 2025

Homegrown fastfood giant Jollibee Foods Corp. or Jollibee Group is setting its sights on an expansion spree this year with a plan to spend billions of pesos to grow its network of stores in the Philippines and other countries. “Looking to 2025, the Jollibee Group plans to open 700-800 stores (gross) across brands and regions and spend between P18 to P21 billion on consolidated capital expenditures,” Jollibee Group chief financial and risk...

2025-03-14T09:11:29Z

DTI’s foreign trade unit books $76B investment pledges as of January

The Department of Trade and Industry (DTI), through its Foreign Trade Service Corps (FTSC), has booked over $70 billion worth of foreign investment commitments as of January, cementing the Philippines’ position as a top destination for global investors in 2025. In a news release on Friday, the DTI said the FTSC has actively engaged with investors on 247 investment leads and projects valued at over $76 billion or P4 trillion as of the first month...

2025-03-14T10:11:27Z

Palace not worried about how investors see PH amid political noise

Malacañang on Monday expressed confidence that foreign investors will continue to invest in the Philippines despite the current political noise following the arrest of former President Rodrigo Duterte. Palace Press Officer Undersecretary Claire Castro said the administration is not worried about how foreign investors are looking at the current political situation. ''Sa aking palagay po, sa akin pong palagay dahil magkakaroon po kami ng meeting...

2025-03-17T11:12:51Z

Trump Administration Threatens MTA Funding Over NYC Subway Crime

The Trump administration is threatening to withhold federal funding from the agency that runs the New York City subway if the Metropolitan Transportation Authority doesn’t comply with a request for information on transit crime.

2025-03-19T12:23:45Z

Marcos tasks DA to boost ties with farmer cooperatives

President Ferdinand ''Bongbong'' Marcos Jr. tasked the Department of Agriculture to closely work with the Cooperative Development Authority and boost ties with farmers' cooperatives. Marcos said this as he led the inauguration of the Sorosoro Ibaba Development Cooperative (SIDC) Grains Terminal and Trading Project in Batangas on Thursday. ''Kaya inatasan ko ang DA na makipag-ugnayan sa CDA, Cooperative Development Authority, para patibayin,...

2025-03-13T06:11:08Z

inDrive expects to onboard 30%-40% more drivers in 2025

Ride-hailing firm inDrive is expecting to further expand its presence in the Philippines this year as it sees to grow the network of its driver-partners by high double-digits. In an interview with GMA News Online, inDrive Group president and deputy CEO Mark Loughran said the ride-hailing company “sees amazing potential in this market.” Since the resumption of its operations in June last year —after a five-month suspension ordered by the Land...

2025-03-18T05:13:16Z

$2.6 Billion Medicaid Funds Diverted From Indiana Care Homes: Report

It has left Indiana's nursing homes ranking among the worst in the nation for staffing, despite receiving billions in additional Medicaid payments.

2025-03-19T11:53:29Z

Santander to close one fifth of UK branches amid online switch

Spanish bank Santander announced Wednesday plans to close one fifth of its UK branches, impacting 750 jobs, as the switch to online banking gathers pace. As part of the restructuring, Santander plans to contribute to the expansion of local banking hubs and to use "community bankers" who will provide face-to-face support.

2025-03-19T13:20:40Z

Chinese Stock Market Outpacing U.S. Under Trump

The country's key indexes have seen significant gains in recent weeks fueled by optimism surrounding China's tech sector.

2025-03-19T16:14:14Z

Map Shows US States Most Vulnerable to Tariffs

A trade war with the EU will hurt the states which trade the most with the bloc, many of which voted for Trump in November 2024.

2025-03-19T16:23:44Z

California Robotaxis Move a Step Closer

Tesla now has a permit to manage a fleet of vehicles, but there are many more hurdles before it can run a full driverless service.

2025-03-19T13:39:12Z

Could Elon Musk Face Margin Call Over Tesla Stock? What We Know

As Tesla's share price continues to decline, Musk is at risk of defaulting on his past personal loans.

2025-03-19T14:58:35Z

California Housing Market Soars Back to Life

California's cost of living is among the highest in the United States, driven significantly by elevated housing expenses.

2025-03-19T16:08:42Z

Top Tesla Shareholders Selling Off Stock

Several top executives and board members at Tesla have sold significant portions of their stock holdings in recent weeks.

2025-03-19T14:34:10Z

California's Housing Market Makes Sudden Shift

Existing, single-family home sales were back on the rise in California in February, after plunging month-over-month in January.

2025-03-19T16:44:15Z

Google, Apple Hit by Twin EU Rebuke Amid Big Tech Crackdown

Alphabet Inc.’s Google was warned to step in line with the European Union’s Big Tech rules or risk hefty fines as part of a two-pronged escalation against Silicon Valley that risks further inflaming tensions with US President Donald Trump.

2025-03-19T14:58:23Z

Oil Titans Meet With Trump as US Unwinds Environmental Rules

The chief executives of more than a dozen oil companies will deliver a message of gratitude — as well as caution — when they meet with President Donald Trump on Wednesday.

2025-03-19T09:38:30Z

Trump's Latest Executive Order Puts Rural Community Banks at Risk | Opinion

Community banks are vital to helping rural America solve economic challenges—from financing affordable housing to small business and agricultural loans.

2025-03-19T10:23:31Z

Property sector ‘unfazed’ by political noise — Colliers

The Philippines’ property sector is not being distracted by the ongoing political noise in the country following the arrest of former president Rodrigo Duterte to face crimes against humanity before the International Criminal Court (ICC), according to real estate research and consultancy firm Colliers International Philippines. At a media briefing in Parañaque City on Tuesday, Colliers senior research manager Joey Bondoc was asked if the current...

2025-03-18T10:13:17Z

Bankrupt Forever 21 Closes Stores in Mimic of Online Rivals

If you can’t beat them join them. That’s the strategy behind saving the Forever 21 name as the last remaining stores in the US are shuttered and the brand pursues a model that is similar to its online competitors.

2025-03-18T18:52:29Z

Agri chief raises banana issue with Japan, calls for trade pact review –PH Embassy

Agriculture Secretary Francisco Tiu Laurel Jr. met with Japanese officials in Tokyo where he raised the Philippines’ concerns on the decreasing market share of the country’s bananas and asked for the immediate review of their economic trade pact to resolve the issue, Manila’s embassy in Japan said Sunday. Tiu Laurel met with Japan’s State Minister of Agriculture Forestry and Fisheries Hirofumi Takinami last week to sort out obstacles to the two...

2025-03-16T06:12:20Z

Debt repayments weigh on FDI inflows in December -BSP

Foreign direct investments into the Philippines recorded a net inflow in December 2024, though significantly lower both month-on-month and year-on-year, primarily due to local firms' debt repayments to their non-resident investors. Data released by the Bangko Sentral ng Pilipinas on Monday showed that FDI—a key driver of capital and job creation for the local economy—registered a net inflow of $110 million in December 2024. This was markedly...

2025-03-10T09:09:41Z

Ben & Jerry's alleges parent company Unilever removed its CEO over social activism

Ben & Jerry’s says its CEO was unlawfully removed by its parent company, Unilever, in retaliation for the ice cream maker’s social and political activism. In a federal court filing late Tuesday, Ben & Jerry’s said Unilever informed its board on March 3 that it was removing and replacing Ben & Jerry’s CEO David Stever. Ben & Jerry’s said that violat...

2025-03-19T15:36:44Z

UniCredit CEO says prepared to wait on Commerzbank decision

UniCredit's chief executive said Wednesday he could wait until 2027 to determine whether a takeover of Germany's Commerzbank made sense for Italy's second-largest bank. "At this point, patience is the most important point because we need to execute on our plan, get it done well," said UniCredit chief executive Andrea Orcel Wednesday.

2025-03-19T14:50:40Z

US Housing Market Gets 'Encouraging Sign'

Mortgage rates are trending down and home prices are growing at their slowest pace in a while, bringing buyers back into the market just in time for spring.

2025-03-19T10:23:22Z

General Mills Adds to Weak Consumer Outlook With Forecast Cut

Cheerios maker General Mills Inc. cut its guidance for fiscal 2025 sales in a sign of slowing consumer spending across the US.

2025-03-19T12:38:50Z

Tech firms fight to stem deepfake deluge

Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used by scammers that are more available than ever thanks to artificial intelligence. Ever-improving generative artificial intelligence (GenAI) tools have become weapons in the hands of bad actors intent on tricking people out of their money or even their identities.

2025-03-19T08:04:39Z

Guggenheim’s Jim Millstein Sees Slow Wage Growth Pinching Consumers

Jim Millstein, Guggenheim Securities’ co-chairman and a former US Treasury official, said slowing wage growth is starting to take a toll on US consumers.

2025-03-19T15:49:03Z

Canadian Retailer Hudson’s Bay Moves to Restructure

Hudson’s Bay, a historic Canadian department store chain, has sought protection in its home country and intends to restructure after failing to secure financing to shore up its cash reserves.

2025-03-08T01:34:45Z

PH gross gaming revenue up 25% in 2024 despite POGO ban

The Philippines' gross gaming revenue (GGR) posted a 25% growth in 2024 even with the government ban on Philippine Offshore Gaming Operators (POGOs) as revenues from electronic games surged by 165% during the year, the Philippine Amusement and Gaming Corp. (PAGCOR) said Tuesday. According to PAGCOR, the country's GGR increased to P410 billion in 2024 from P329 billion in 2023. Brick-and-mortar casinos contributed P201 billion, while the e-bingo...

2025-03-18T10:13:19Z

Over 39,000 vehicles added to PH streets in February

Over 39,000 vehicles were sold in the Philippines in February, more than the sales recorded in the previous month, data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) on Wednesday showed. There were 39,164 units sold in February, reflecting a 4.1% increase from the 37,604 units sold in January and 2.9% higher than the 38,072 units sold in the same month last year....

2025-03-19T04:13:37Z

Trump Loves AI But His Tariffs Ramp Up Costs for Data Centers

President Donald Trump is all in on artificial intelligence and the data centers that power it — but his tariffs threaten to pile new costs on the US businesses spending hundreds of billions to build them.

2025-03-19T10:23:52Z

IRS Stimulus Checks: Millions Could Still Claim Up to $1,400—Deadline Soon

Taxpayers may still be eligible for $1,400 in unclaimed stimulus payments but must file their tax returns by April 15, 2025.

2025-03-19T15:33:42Z

Tencent Speeds AI Spending After Sales Grow Fastest in Years

Tencent Holdings Ltd. outlined plans to sharply raise spending on AI infrastructure after posting its fastest pace of revenue growth since 2023, showing that China’s most valuable company is intent on keeping pace with rivals in the post-DeepSeek era.

2025-03-19T09:33:10Z

Social Security Customers Forced To File In Person. DOGE Is Closing Offices

Starting March 31, benefit claimants will no longer have the option to verify their identity with the SSA over the phone.

2025-03-19T15:53:43Z

JPMorgan Executive Says US Isn’t Hostile Place for Green Funds

A senior executive at JPMorgan Chase & Co. says it’s wrong to assume that the shift in US politics under President Donald Trump means the world’s largest economy has become hostile territory for green investors.

2025-03-19T14:23:34Z

AirAsia allows power banks not exceeding 100Wh

Budget carrier AirAsia Philippines announced on Tuesday that passengers may carry up to two power banks, each not exceeding 100 watt-hours (Wh). The airline reminded passengers that power banks must not be stored in overhead compartments but should be kept with personal belongings under the seat or in the seat pocket. However, the use of power banks during flights remains prohibited under the Civil Aviation Authority of the Philippines' (CAAP)...

2025-03-18T12:13:21Z

Gen Z To Become Richest Generation By 2035: Report

Gen Z, who are currently struggling to save and hold on to a job, is reported to become the largest, richest generation in the world in the next 15 years.

2025-03-19T09:03:21Z

Couche-Tard Seeks to Reassure Investors on Seven & I Approach

Canada’s Alimentation Couche-Tard Inc. is trying to assure shareholders that management hasn’t lost sight of operations amid fragile talks over a potential takeover of rival Seven & i Holdings Co.

2025-03-19T16:43:24Z

BSP: PH economic growth seen moderate at lower end of 6-8% target

The Bangko Sentral ng Pilipinas (BSP) is expecting the country's economic performance this year and next to be moderate amid tempered consumption activities resulting from high commodity prices and global uncertainties. In its latest Monetary Policy Report, the BSP said its "outlook for domestic economic activity remains firm, though growth is anticipated to moderate compared to previous assessments." The central bank said the Philippines' gross...

2025-03-19T06:13:40Z

China's Tencent sees profits surge as AI drive accelerates

Chinese internet and gaming giant Tencent said on Wednesday that profits in the fourth quarter of 2024 surged 90 percent as the firm accelerates a push into artificial intelligence (AI). - AI frenzy - Chinese tech giants have been funnelling resources into the competitive field of AI since the release of DeepSeek's chatbot in January.

2025-03-19T10:49:41Z