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Why New York State Is Selling Cars for Less Than $3,000

The auctions feature a variety of vehicles, including sedans, SUVs, trucks and specialized transportation equipment.


Inflation Is Proving Sticky as Fed Chair Powell Heads to the Hill

US inflation showed scant signs of downward momentum at the start of the year, while healthy job growth undergirded the economy, backing the Federal Reserve’s stance to hold the line on interest rates for now.


Trump Tax Cuts Could Send Debt Market into 'Meltdown', Investor Warns

Donald Trump pledged a series of tax cuts as part of his 2024 presidential election campaign.


SMC, gov’t agencies ink right-of-way usage agreement for Skyway Stage 4

San Miguel Corp. (SMC) and government agencies on Monday inked a right-of-way usage agreement (ROWUA) for the P45.27-billion Skyway Stage 4 Project, a 32.7-kilometer road that will connect Quezon City and Taguig City. The ROWUA seeks to facilitate the smooth construction of the Skyway Stage 4 or the Southeast Metro Manila Expressway (SEMME) in portions traversing the property of the Veterans Federation of the Philippines. The agreement was...


Amazon to pay nearly $4M to settle lawsuit alleging it took tips from drivers

Amazon has agreed to pay nearly $4 million to settle charges that the e-commerce company subsidized its labor costs by taking tips its delivery drivers received from customers, District of Columbia Attorney General Brian L. Schwalb said Friday. The settlement came four years after Amazon forked over $61.7 million to resolve a complaint the Federal ...


Marcos says Mitsubishi's P7-B investment plan to create jobs for Pinoys

President Ferdinand ''Bongbong'' Marcos Jr. welcomed Mitsubishi Motors Corp.'s (MMC) P7-billion investment plan in the Philippines in the next five years, saying that this will create employment for Filipinos. This as MMC president and CEO Takao Kato paid a courtesy call on Marcos in Malacañang on Thursday wherein they tackled the company's investment plan for the country. The MMC's expansion plan includes adding a new production model at its...


Elon Musk Says He Doesn’t Want to Buy TikTok’s US Business

Elon Musk said he isn’t interested in buying TikTok, the popular social video app the US has tried to ban over national security concerns with its Chinese owner Bytedance Ltd.


Foreign-Born Worker Unemployment Rate Compared to Native-Born Citizens

Recent U.S. Department of Labor data reveals subtle differences in unemployment trends between foreign-born and native-born workers.


Philippines ends 2024 with P16.05T sovereign debt

The Philippines concluded the year 2024 with a sovereign debt of over P16 trillion, according to data released by the Bureau of the Treasury (BTr). The national government’s outstanding debt stood at P16.051 trillion as of end-December 2024, down slightly by 0.2% from the record P16.090 trillion debt stock recorded as of end-November 2024. Year-on-year, however, the country’s sovereign debt grew by 9.8% from the P14.616-trillion debt seen at the...


Trump Tells Ishiba He Wants Japan to Eliminate Trade Deficit

President Donald Trump said he wants the US trade deficit with Japan eliminated during a meeting with Prime Minister Shigeru Ishiba that saw the visiting Japanese leader highlight new potential investments by some of his country’s automotive giants.


Inexperienced Tech Worker 'Accidentally' Landing Senior Job Praised

"A lot of companies are looking for someone who's a good fit, not just a person who ticks every box on a checklist," said one expert.


PH OKs importation of 3,000MT red, 1,000MT white onions

The Philippine government, through the Department of Agriculture (DA), has approved the importation of thousands of metric tons of red and white onions to ensure the prices of the commodity are stable. In a statement on Thursday, Agriculture Secretary Francisco Tiu Laurel Jr. announced that he authorized the importation of red and white onions, which are expected to arrive in the country “within the next two weeks.” “This importation of 3,000...


US Consumer Sentiment Hits 7-Month Low After Trump Takes Office

Following Donald Trump's first few weeks as president, preliminary data shows consumer sentiment has dropped in February.


DTI to release new SRP guide showing price increase for 62 items

A new suggested retail price guide will be released this week following the price increase of over 60 shelf-keeping units (SKUs), or items for sale. The Department of Trade and Industry said the new list which aims to guide consumers is expected to be released Thursday. This will reflect the price increase of 62 items including several brands of sardines, canned meat, evaporated milk, Pinoy tasty and Pinoy pandesal. The prices of candles and...


‘It’s a Circus’: Trump Unleashes Chaos at Key US Science Agency

Muddled directives and early-morning emails at NOAA, one of the world’s top weather and climate forecasters, have put the agency on edge.


Charlotte Gets Approval for $400 Million of Muni Debt

North Carolina’s biggest city is poised to sell $400 million of municipal bonds after a recent population surge underscored the need for more infrastructure.


House OKs bill reducing PhilHealth premium rate to 3.5% on final reading

The House of Representatives on Monday approved a bill reducing the Philippine Health Insurance Corporation (PhilHealth) premium contribution rate to 3.5% from 5% on third and final reading. House Bill 11357 or An Act Strengthening the Philippine Healthcare System to Achieve Efficiency and Equity, and to Improve Public Health Emergency Preparedness garnered 191 yes votes, three no votes and zero abstentions. “This bill will strengthen the...


Foundering Trump Trades Put Wall Street Risk Fixation to Test

It was the layup trade for the cross-asset crowd back in December. With Donald Trump promising to rev the economy to capacity, they loaded up on stocks, sold government bonds and went long the dollar to ride a rising American tide.


US Consumer Borrowing Surges by $40.8 Billion, Most on Record

US consumer debt outstanding unexpectedly surged by the most on record in December, reflecting massive increases in credit-card balances and non-revolving credit.


Trump Says He Discussed LNG Exports With Japan’s Ishiba

President Donald Trump said that the US and Japan are discussing a pipeline project in Alaska after meeting with the country’s prime minister, Shigeru Ishiba.


Bitcoin Lags Behind Gold as Trump’s Trade War Spurs Safe Haven Demand

After outperforming most asset classes in 2024, Bitcoin now finds itself under pressure as Donald Trump’s White House return and heightened geopolitical instability spark a rush for safe haven investments.


Immigration Drove Record Jump in US Labor Force Ahead of Trump

The US workforce expanded by the most on record in January due to a jump in immigration, pointing to a major source of job growth at risk of slowing under President Donald Trump.


URC allocates at least P8B for 2025 capex

Universal Robina Corp. (URC), the food manufacturing unit of the Gokongwei Group, is looking to spend at least P8 billion this year, with a focus on expanding its facilities and capacity. According to URC president and chief executive officer Irwin Lee, the company is allocating around P8 billion to P9 billion for its capital expenditures (capex), which will be funded internally as the company has decreased its borrowing in the past year. In...


Average Boomer Has Almost Double the Savings of Millennials

Despite not having as much in the bank, millennials aren't necessarily worse off than their older counterparts.


House OKs bill to lower tax rates on cigarettes, seen to curb decline in collection

The House of Representatives on Wednesday approved the bill lowering the excise tax for cigarettes, tobacco, heated tobacco, and vapor (e-cigarette/vape) products aimed at curbing the decline in tax collection from the goods. Lawmakers voted via viva voce in favor of House Bill 11360 at 2:09 a.m. on Wednesday, January 29 following extended session hours. "Tobacco excise tax revenues have been declining despite higher tax rates - so something is...


Wildflour says IPO ‘big possibility’ in the near future

Philippine premier casual restaurant operator Wildflour Hospitality Group says going public is a “big possibility” in the near future, with its founder and chief executive officer Ana Lorenzana de Ocampo optimistic for the year as the company continues with its expansion. “It’s something that we are talking about. It’s really a possibility, a big possibility for us in the near future,” de Ocampo told reporters in a recent interview, but declined...


The Borrowing Crisis Looming Over the Trump Presidency

Despite the Federal Reserve's 2024 interest rate cuts, borrowing costs remain stubbornly high — reflecting a growing political problem for the new administration.


Costco Product Recall Issued Nationwide: What To Know

The ovens were recalled after they were linked to more than 28 fires, which caused multiple injuries and resulted in the deaths of several pets.


Musk’s DOGE Blocked From Treasury Data in State AGs Lawsuit

A federal judge temporarily blocked Elon Musk’s government efficiency team from accessing some Treasury Department information and ordered the destruction of data they’ve already gathered in response to a lawsuit from a group of states.


Philippines closes 2024 with fewer jobless Pinoys at 1.63M in December

The number of jobless Filipinos declined further in December last year —concluding 2024 with fewer unemployed individuals— amid the seasonal increase in demand for labor during the holidays, according to results of the Philippine Statistics Authority’s (PSA) Labor Force Survey. At a press conference on Thursday, PSA chief National Statistician Claire Dennis Mapa reported that jobless persons, ages 15 and above, eased to 1.63 million from 1.66...


Ex-SpaceX Workers Get Data Access as DOGE Targets Energy Agency

Two former SpaceX employees are now embedded at the Energy Department as billionaire Elon Musk’s government efficiency team gains greater access to the inner workings of the agency that houses some of the country’s most classified information.


Soy Farmers Urge Trump to Resume Climate Payments to Agriculture

American soybean growers are urging President Donald Trump’s administration to resume payments for growers adopting climate-smart practices under a Biden era program.


Crypto Firms on the Hunt for Well-Connected Washington Lobbyists

A growing number of crypto companies are shopping around to hire well-connected lobbyists or policy experts to bolster their presence in Washington and have a line to the new digital asset-friendly administration.


Browser Startup Island Valued at $4.5 Billion in Coatue-Led Round

Valuation jump shows VCs are still enthusiastic for cybersecurity deals.


Dollar Caps Volatile Week on High Note as Tariff Deadlines Loom

The US dollar rallied on fresh uncertainty surrounding President Donald Trump’s plans to implement tariffs, capping a volatile week for currency markets buffeted by trade headlines in the early days of the new administration.


Teachers Plead for Help From Parents as Kids Fall Behind in Reading

After the COVID-19 pandemic, teachers noted a stark drop in both reading and math scores among students of all ages.


DTI OKs price hike for Pinoy Tasty, Pinoy Pandesal

The Department of Trade and Industry (DTI) has approved the request of bread manufacturers to increase the retail prices of Pinoy Tasty and Pinoy Pandesal. According to Bernadette Reyes' report on SuperRadyo dzBB, the DTI gave the thumbs up for a P3.50-increase in the price of 450-gram pack of Pinoy Tasty, and a P2.25-hike in the price of a 250-gram pack (10 pieces) of Pinoy Pandesal. The new suggested retail prices for Pinoy Tasty and Pinoy...


Trump’s Sports Taxes Could Target Team Owners Worth $869 Billion

President has threatened to end ‘all special tax breaks for billionaire sports team owners.’


Canada Makes Case to US States Against Return of Trump Tariffs

Canada will keep trying to persuade the Trump administration to drop its tariff plans, in part by reaching out to US states that have significant trading relationships with their northern neighbor, trade minister Mary Ng said.


Aivee Group to spend at least P80 million for branch expansion

The Aivee Group is set to invest at least P80 million for its expansion plans this year as it is set to open four new branches in Metro Manila, banking on the growing interest in beauty and wellness not only in the Philippines but in overseas markets. According to Aivee Group president Dr. Aivee Teo, the company's four new clinics will have an investment of at least P20 million for the space, having at least 450 square meters. “It really varies,...


PH misses economic growth target for second straight year

The Philippine economy continued its expansion streak in the last three months of 2024, but it was not enough to bring the full-year growth within the government's target range, the Philippine Statistics Authority (PSA) reported Thursday. Economic growth for the fourth quarter of the past year was recorded at 5.2%, unchanged from the third quarter, and slower than the 5.5% in the same quarter of 2023. This brought the full-year economic...


Map Reveals States With Most Layoffs So Far This Year

Thousands have already been laid off this year, with cuts in the tech sector expected to drive the numbers higher throughout 2025.


King Dollar Emerges as Fresh Threat for Big Tech Earnings Views

The surge in the dollar is darkening the earnings outlook for US multinational companies from Amazon.com Inc. to Apple Inc., leaving investors to question how much longer the stock rally can withstand the greenback’s strength.


Pangandaman: Economic managers to revise growth targets 'if needed'

Philippine economic ministers could possibly revise their economic growth targets for 2025 during the next meeting of the Development Budget Coordination Committee (DBCC) after the slower-than-expected figure seen in the past year, its chair said Wednesday. According to Budget Secretary Amenah Pangandaman, the DBCC will take into account several factors during its meeting in March and decide whether or not to retain the economic growth target...


Airbus acknowledges slow progress on hydrogen plane

Airbus acknowledged on Friday that progress on developing an aeroplane operating on hydrogen was slower than expected, but said it was not reviewing its approach to decarbonising aviation. "Recent developments show that progress on indispensable elements for this transition, including the large-scale availability of hydrogen from renewable sources, have been slower than expected," said Airbus.


BSP’s Remolona says rate cut on the table for Feb. 13 policy meeting

BAGUIO CITY — Further policy easing is on the table for the policy meeting of the Monetary Board next month but this will rely on certain factors including the country’s latest macroeconomic factors, Bangko Sentral ng Pilipinas (BSP) governor Eli Remolona Jr. said. According to Remolona, the Monetary Board will be looking at certain factors such as the recently released fourth-quarter and full-year economic growth figures, which were below the...


BSP, PNP file criminal complaints against suspects who mutilated coins

The Bangko Sentral ng Pilipinas (BSP) and the Philippine National Police (PNP) have filed criminal complaints against six suspects who are alleged to have destroyed Philippine coins, including one who went viral online for turning a P10 coin into a ring. In a statement released Monday, the BSP said the individuals were apprehended in separate entrapment operations in Siquijor and Boracay in Aklan, with charges filed before the Siquijor and Aklan...


PH’s inflation rate flat at 2.9% in January 2025

The Philippines’ inflation rate in January 2025 remained at the same level as December 2024, still well within the government’s target band, the Philippine Statistics Authority (PSA) reported on Wednesday. At a press conference, PSA chief and National Statistician Claire Dennis Mapa said the country’s overall inflation —which measures the rate of increase in the prices of consumer goods and services— stood at 2.9%. Last month’s print was the...


ADB OKs $500-M loan for PH disaster resilience

The Asian Development Bank (ADB) has approved another loan for the Philippines, this time a $500-million policy-based agreement for financing in case of disasters caused by natural hazards and health-related emergencies. According to the ADB, the financing will assist reforms to raise resilience and enable the country to respond to disasters and recover in a timely manner as well as minimize the impact on the economy and lives and livelihoods of...


PH rice inflation contracts for first time since 2021

Rice prices in the Philippines continued their downtrend in the first month of 2025, with the inflation rate for the grain staple contracting for the first time in nearly four years, amid a trend of declining global prices and a reduction in rice tariffs mid-last year. At a press conference on Wednesday, Philippine Statistics Authority (PSA) chief National Statistician Claire Dennis Mapa reported that rice posted a year-on-year deflation of...