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SM Investments Corp, 6 other PH companies on Forbes’ Global 2000 List

Seven Philippine companies made it into Forbes’ list of the 2,000 largest companies globally for 2025. SM Investment Corp. topped the Philippine conglomerates in 811st spot after recording $10.56 billion sales, $1.44 billion in profit, $29.37 billion in assets, and $18.67 in market value. Banking giant BDO Unibank, Inc. came at 846th garnering $6.31 billion in sales, $1.43 billion in profit, $84.33 billion in assets, and a market value of $15.09...

2025-06-12T18:10:30Z

Grab PH launches fully electric taxi fleet

Grab Philippines has unveiled the country’s first fully electric, on-demand taxi fleet recognized by the Land Transportation Franchising and Regulatory Board (LTFRB). In a news release, Grab Philippines said GrabTaxi Electric was launched in partnership with local operator EV Taxi Corp. and would begin operations in key Metro Manila hubs, including Makati, Taguig, Pasig, Mandaluyong, Parañaque, and Pasay. This rollout marks a significant...

2025-06-14T13:02:59Z

Starmer Says No Obstacles Left in Finishing US-UK Trade Deal

UK Prime Minister Keir Starmer said there are no “hiccups or obstacles” remaining in the way of finalizing a trade deal with the US and indicated that an agreement would likely come soon.

2025-06-13T14:40:29Z

More than 1 million power banks recalled after some consumers report fires

NEW YORK (AP) — More than 1.15 million power banks are under recall across the U.S. after some fires and explosions were reported by consumers. According to a Thursday notice from the U.S. Consumer Product Safety Commission, electronics maker Anker Innovations is recalling certain “PowerCore 10000” power banks because the lithium-ion battery inside...

2025-06-13T15:22:06Z

Has Disney World become too expensive?

Professor Dogan Gursoy told Newsweek "An increasing number of visitors now view Disney vacations as unaffordable."

2025-06-13T10:11:31Z

Surge in viewers leads ION TV to extend current 3-year broadcasting deal with WNBA

NEW YORK (AP) — Caitlin Clark’s arrival and a major surge in viewers over the past year led to ION Television reaching a multiyear agreement on Friday to extend its broadcasting partnership with the WNBA. ION, which is owned by the Cincinnati, Ohio-based, E.W. Scripps Company, did not reveal the length or value of the contract, which extends the ne...

2025-06-13T18:14:46Z

Google’s Plan to Buy Security Firm Wiz Gets Antitrust Review

Justice Department antitrust enforcers are reviewing whether Google’s planned $32 billion acquisition of cybersecurity company Wiz Inc. would illegally limit competition in the marketplace, according to people with knowledge of the matter.

2025-06-13T20:43:57Z

Euro Commission removes PH in list of ‘high-risk’ countries for dirty money, financial crimes

The European Commission, the European Union’s (EU) executive body, has removed the Philippines from its list of high-risk countries the bloc monitors for money laundering and terrorism financing. In a statement, the European Commission announced that the Philippines, along with Barbados, Gibraltar, Jamaica, Panama, Senegal, Uganda, and the United Arab Emirates, was delisted in its updated list of high-risk jurisdictions for financial crimes....

2025-06-12T05:07:33Z

Americans' fears of stock market crash skyrocket

Financial concern is spiking among Americans, as 25.5 percent of the population fears a Wall Street meltdown, says report.

2025-06-13T18:03:57Z

Google turns internet queries into conversations

Google on Friday began letting people turn online searches into conversations, with generative artificial intelligence providing spoken summaries of query results. Google is beefing up online search with generative artificial intelligence, embracing AI despite fears for its ad-based business model.

2025-06-13T21:30:13Z

PH lifts import ban on German beef, animal products

The Philippines, through the Department of Agriculture (DA), has lifted the ban on importing beef and other animal-derived products from Germany. The move was made following the declaration of the European country that it is free from foot-and-mouth disease (FMD)—a highly contagious viral infection that affects cloven-hoofed livestock. Agriculture Secretary Francisco Tiu Laurel Jr., in his Memorandum Order 29, said Germany is now considered...

2025-06-12T06:07:43Z

Shares of meatpacking giant JBS fall in debut on the NYSE

Shares of Brazilian meat giant JBS fell 3.9% in as they made their debut Friday on the New York Stock Exchange. Trading in New York has been a long-held goal for JBS, which was founded 72 years ago and is now one of the world's largest meat companies. Half of its annual revenue comes from the U.S., where it has more than 72,000 employees. JBS is Am...

2025-06-13T12:56:19Z

PH external debt rises to $146.74B in Q1 2025

The Philippines’ outstanding external debt saw an increase in the first quarter of 2025 on account of borrowings by the national government and the banking sector, according to data from the Bangko Sentral ng Pilipinas (BSP). The BSP defines external debt as borrowing owed by residents to non-residents. The country’s external debt reached $146.74 billion at the end of March 2025, up 6.6% from the previous quarter and up by 14% from the first...

2025-06-14T11:02:39Z

PH’s oldest business group adds pressure for VP’s impeachment trial to begin

The Chamber of Commerce of the Philippine Islands (CCPI), the country’s oldest business institution, has joined the call for Vice President Sara Duterte’s impeachment trial to begin, adding to the mounting pressure for the Senate to immediately proceed with its Constitutional duty. In a statement, the CCPI, founded in 1886, said it calls on the Senate “to perform their Constitutional and moral duty to immediately commence the Impeachment Trial...

2025-06-10T12:00:31Z

Jeff Bezos and Lauren Sanchez to spotlight Venice's artisanal heritage during upcoming nuptials

VENICE, Italy (AP) — Jeff Bezos and Lauren Sanchez have invited celebrity friends like fellow space traveler Katy Perry, Oprah Winfrey, Mick Jagger and Ivanka Trump for their Venice nuptials later this month, but the couple hopes to put a spotlight on Venice’s traditions during the celebrations. They are sourcing some 80% of their wedding provision...

2025-06-14T04:15:21Z

Oil markets are spooked as Iran-Israel tensions escalate

Israel’s strike on Iran, and Tehran’s subsequent retaliation fuel fears of Strait of Hormuz trade disruptions.

2025-06-13T21:44:32Z

Startups show off ocean-preserving tech at Paris trade fair

Harnessing ocean currents to boost fuel efficiency of vessels, or tracking whales using sensor data and AI -- startups at Paris trade fair Vivatech have been showing off the latest innovations aimed at protecting the environment. He flagged an AI model developed by his firm, Amphitrite, that he said could predict ocean currents by crunching "several layers of satellite data corresponding to different physical variables".

2025-06-13T15:29:13Z

Blackstone Said to Be in Talks to Buy Embattled Allegiant Resort

Blackstone Inc. is in talks to purchase Allegiant Travel Co.’s Sunseeker Resort, moving the parent of Allegiant Airlines closer to shedding the beleaguered retreat that had been a drag on earnings, according to people with knowledge of the matter.

2025-06-13T22:19:16Z

Map show states where highest, lowest salary needed for comfortable life

In the most affordable areas of the US, residents need to earn significantly less to live comfortably, according to a new study.

2025-06-13T15:47:55Z

Relativity Space Said to Reverse Stock Split After Schmidt Deal

Relativity Space Inc., a maker of 3D-printed rockets, enacted a reverse stock split that has significantly diluted existing shareholders and staff, according to people familiar with the matter.

2025-06-14T01:25:30Z

Trump Plans Biofuel Quota Boost, Seeks to Crimp Imports

The Trump administration is proposing oil refiners blend more biofuels into gasoline and diesel next year, while seeking to discourage the use of imported supplies.

2025-06-13T14:25:23Z

Trump Wants to Make It More Expensive to Sue Over His Policies

President Donald Trump and his allies are pursuing an alternative strategy to defend against mounting court orders blocking his policies: Raise the financial stakes for those suing the administration.

2025-06-12T17:36:50Z

Fulbright’s Future in Doubt as Trump Targets Elite Scholarship

The program’s academic freedom has been called into question after the Trump administration rejected awards.

2025-06-13T18:59:04Z

Map shows US states with best—and worst—economies

Incorporating dozens of metrics into its analysis, WalletHub created a ranking of the strongest economies in the U.S.

2025-06-14T09:42:31Z

Agri chief seeks gradual, strategic return of rice import tariff to 35%

Agriculture Secretary Francisco Tiu Laurel Jr. is seeking for the gradual return of rice import tariff rate from the current 15% back to 35% as an abrupt increase could undermine efforts to bring down the staple’s price. In a statement issued Thursday, Tiu Laurel, citing his testimony at the House of Representatives’ Murang Pagkain Super Committee hearing last Wednesday, said that he recommended to the Tariff Commission that future increases in...

2025-06-12T09:08:08Z

DOE lauds ratification of PhilATOM bill

The Department of Energy (DOE) on Friday welcomed the Bicameral Conference Committee’s ratification of the Philippine National Nuclear Energy Safety Act, which establishes the Philippine Atomic Energy Regulatory Authority (PhilATOM), as this would pave the way for the country’s foray into nuclear power generation in the near future. “After two decades of advocacy and deliberation, the passage of the PhilATOM bill marks a historic turning point...

2025-06-13T10:13:15Z

Gen Xer skipped college as teen—30 years later makes life-changing decision

David Spice told Newsweek: "With a lifetime of work and life experience behind me, I'm ready to take this next step—and grateful for the opportunity to do so."

2025-06-13T15:33:24Z

Think tank urges SEC to double efforts vs. unlicensed crypto exchanges

Think tank Infrawatch on Thursday called on the Securities and Exchange Commission (SEC) to close enforcement gaps, which enable unregistered platforms to facilitate fraud and abuse. Infrawatch convenor Terry Ridon said the SEC's Strategic Sandbox (StratBox), which allows licensed crypto asset service providers (CASPs) to test new products and services under regulatory supervision, was a timely measure that will promote innovation in the...

2025-06-12T19:10:42Z

Map shows where foreign citizens are buying homes in US

The number of international buyers looking to invest in a home in the U.S. fell in the first quarter of the year as tariffs were introduced, a new report found.

2025-06-13T09:11:17Z

Cebu Pacific offers P12 one way base fare for ‘Kalayaan Seat Sale’

In celebration of the Philippines’ Independence Day, budget carrier Cebu Pacific on Wednesday announced the launch of “Kalayaan Seat Sale.” In a news release, Cebu Pacific said select domestic and international destinations could be booked for as low as P12 one-way base fare, exclusive of fees and surcharges, from June 11 to 15. The travel period for the booked promo flights is from December 1, 2025 to May 31, 2026. Cebu Pacific said operates in...

2025-06-11T05:03:24Z

Port of LA Imports Drop 19% in May as Tariffs Hit US Businesses

Import volumes through the busiest trade hub in the US fell 19% from the month before, a fallout from President Donald Trump’s tariffs.

2025-06-13T19:18:55Z

LIST: Bank schedules for PH Independence Day 2025

Most branches of Philippine banks will be closed on Thursday, June 12, in celebration of the country’s Independence Day, but their digital banking services and automated teller machines (ATMs) will continue to be available.Below are advisories from lenders that have so far announced their schedules for Thursday, which was earlier declared by Malacañang as a regular holiday:Bank of the Philippine Islands (BPI): All branches will be closed. BDO...

2025-06-11T06:03:34Z

Trump Seeks to Register His Name for Mobile Phone Service

DTTM Operations LLC, the entity that manages trademarks on behalf of President Donald Trump, has applied to use his name and the term T1 for telecom services.

2025-06-13T18:38:35Z

US Steel Sale to Nippon Steel Poised to Close After Trump Deal

Nippon Steel Corp. won conditional US approval for its $14.1 billion purchase of United States Steel Corp., capping a lengthy saga in a tie-up that will create one of the world’s largest steel companies.

2025-06-13T22:56:13Z

Anthropic says looking to power European tech with hiring push

American AI giant Anthropic aims to boost the European tech ecosystem as it expands on the continent, product chief Mike Krieger told AFP Thursday at the Vivatech trade fair in Paris. Beyond the startups he hopes to boost, many long-standing European companies "have a really strong appetite for transforming themselves with AI", he added, citing luxury giant LVMH, which had a large footprint at Vivatech.

2025-06-13T04:27:39Z

California faces housing crisis: "No one is buying homes"

Sales are just below the lows of the Great Recession in California as sky-high prices keep buyers at bay.

2025-06-13T10:11:39Z

Gov't suspending scheduled coco-diesel blend hike

The mandated increase in coco-methyl ester (CME) blend in diesel fuel scheduled to be implemented this year and next is set to be suspended amid the high cost of coconut oil. "National Biofuels Board (NBB) met two weeks ago. The Board decided to pass a resolution to suspend the implementation of the B4 (4%) blend in October 2025 as well as the implementation of the B5 (5%) blend in October of 2026," Department of Energy (DOE) Undersecretary...

2025-06-13T13:13:35Z

Delta, United Suspend Flights to Tel Aviv After Iran Bombing

Delta Air Lines Inc. and United Airlines Holdings Inc. suspended flights to Tel Aviv following Israel’s bombing of Iran and the closure of Israel’s airspace.

2025-06-13T17:38:33Z

Middle East conflict threatens to exacerbate inflationary pressure on some things

Israel's attack on Iran Friday has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households. Oil and gold surged and the dollar rose as markets retreated, signaling a flight to investments perceived as more safe. After years of sky-high ...

2025-06-13T18:43:17Z

Employee confidence drops to record low

Employees reporting a positive six-month business outlook dropped to 44.1 percent in May, down from 45.8 percent in April.

2025-06-13T16:47:59Z

Makers of canned sardines seek P3 hike

Makers of canned sardines are seeking an upward adjustment in the prices of their products due to the rise in the price of imported tin sheets resulting from the weakening peso. Interviewed on Super Radyo dzBB, Canned Sardines Association of the Philippines executive director Francisco Buencamino said the group has appealed to the Department of Trade and Industry (DTI) for a P3 hike in their products’ suggested retail price (SRP). “Right now,...

2025-06-14T06:01:34Z

Gen Z graduate's Elle Woods-style job application goes viral

"People were tagging friends at McLaren, resharing it, rooting for me," 23-year-old Louisa Weldy told Newsweek.

2025-06-14T12:33:07Z

Consumer sentiment rises for 1st time this year as inflation remains tame

WASHINGTON (AP) — Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fight with China. The preliminary reading of the University of Michigan’s closely watched consumer sent...

2025-06-13T14:26:42Z

Where the money goes: Map, charts show migrant remittance payments

Republicans in Congress want to add a tax to migrant remittance payments under the 'Big Beautiful Bill'. Critics say that could lead to more illegal immigration.

2025-06-13T15:37:44Z

Crypto Altcoins Lead Slide as Geopolitics Spurs Haven Demand

Smaller, less liquid tokens such as Solana and Cardano led a decline in cryptocurrencies as financial markets shifted toward safety after Israeli airstrikes on Iranian nuclear targets.

2025-06-13T02:24:57Z

Filinvest-ENGIE joint venture completes solar rooftop project in Laguna

The Filinvest Group and ENGIE Services Philippines have completed a three-megawatt-peak (MWp) solar rooftop system for Nexperia Philippines in Cabuyao, Laguna. Through the joint venture company, Filinvest-ENGIE Renewable Energy Enterprise Inc. (FREE), the project reflects the growing portfolio of clean energy solutions for industrial clients and underscores its commitment to supporting the country’s low-carbon transition. “This milestone in our...

2025-06-12T11:08:36Z

Map shows states with most expensive hidden housing costs

Homeowners on the coasts pay more for owning and maintaining a property than those in the South and Midwest, a new study found.

2025-06-13T13:52:18Z

Israel-Iran Conflict Risks More Inflation, Delayed Fed Rate Cuts

Israel’s attacks on Iran’s nuclear facilities risk pushing back the timeline for Federal Reserve interest-rate cuts as the US central bank waits to assess any potential impact on inflation, economists said.

2025-06-13T17:25:50Z

Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms

WASHINGTON (AP) — President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a “national security agreement” submitted by the federal government. Trump's order didn’t detail the terms of the national security agreement. But the iconic American ...

2025-06-14T00:00:58Z

US, Vietnam Move Closer to Trade Framework as Deadline Nears

The US and Vietnam are closing in on a framework trade agreement, despite ongoing concerns about Chinese goods being rerouted through the Southeast Asian nation to avoid tariffs, according to people familiar with the talks.

2025-06-13T16:43:50Z