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China's manufacturing backbone feels Trump trade war pinch

Sky-high tariffs imposed on China by US President Donald Trump have triggered a slump in factory orders, manufacturers told AFP this week -- with some fearing business may never return. "It's a new round in the trade war," Andy Lin, the firm's business development manager, told AFP at one of its factories in nearby Zhongshan.

2025-04-18T06:18:32Z

Trump's attacks on Powell threaten the Fed's independence. Here's why it matters

WASHINGTON (AP) — Donald Trump has stepped up his attacks on Federal Reserve Chair Jerome Powell at the same time that the Supreme Court is considering a case that could make it easier for the president to fire him. The developments are occurring against a backdrop of wider turmoil in the economy and financial markets, brought on by Trump's sweepin...

2025-04-18T07:36:29Z

Trump Studying If Removing Powell Is Option, Hassett Says

Donald Trump is studying whether he’s able to fire Federal Reserve Chairman Jerome Powell, his top economist said Friday, a day after the president publicly criticized the head of the central bank for not moving fast enough to slash interest rates.

2025-04-18T15:36:53Z

Tariffs could lift Boeing and Airbus plane prices even higher

Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are poised to climb further as Boeing and Airbus are buffeted by trade tariffs. To resolve a labor strike, Boeing late last year agreed to a new contract with its Seattle-based machinist union that lifted wages by 38 percent over four years.

2025-04-20T03:13:00Z

Why Every American Needs To Have a 'Side Hustle' in 2025

"For me, having a side hustle is what gives me confidence even in a tough job market," the recruiter told Newsweek.

2025-04-19T10:42:27Z

Strange sell-off in the dollar raises the specter of investors losing trust in the US under Trump

NEW YORK (AP) — Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar. Currencies rise and fall all the time because of inflation fears, central bank moves and other factors. But economists worry that the recent drop in the dollar is so dramatic that it reflects something more ominous as President ...

2025-04-18T10:14:23Z

IRS Urges Millions to Check Tax Withholding Now

By checking tax withholding, individuals can prevent having to owe additional money and any potential penalties at tax time.

2025-04-18T15:16:16Z

America's Looming Food Bank Crisis

U.S. food banks, which helped feed an estimated 50 million people in 2023, are staring down the barrel of SNAP benefit changes.

2025-04-19T09:07:04Z

The US has a single rare earths mine. Chinese export limits are energizing a push for more

OMAHA, Neb. (AP) — America’s only rare earths mine heard from anxious companies soon after China responded to President Donald Trump’s tariffs this month by limiting exports of those minerals used for military applications and in many high-tech devices. “Based on the number of phone calls we’re receiving, the effects have been immediate,” said Matt...

2025-04-18T04:33:58Z

France pushes for PH-EU free trade agreement

France is advocating for a free trade agreement between the Philippines and the European Union amid US President Donald Trump's push for reciprocal tariffs affecting dozens of trading partners. ''We do believe in cross-trade. We do believe in cross-investment. And this is the first purpose of my visit here in Manila. We are also nowadays in a context where the European Union is working with the Philippines for a future free trade agreement,"...

2025-04-11T20:09:22Z

First Shockwaves of Trump’s Tariffs Are About to Hit the World Economy

Three weeks after US President Donald Trump effectively declared a trade war with the whole world, new economic forecasts and surveys will point to the initial fallout.

2025-04-19T20:22:40Z

Is There Mail on Easter? USPS, UPS, FedEx Hours

Easter falls on April 20 this year, and the Christian holiday will affect some mail delivery services.

2025-04-20T07:38:09Z

Full List of Grocery Stores Open on Easter Sunday

Because Easter Sunday is deemed a holiday, not all stores will remain open for your last minute grocery runs

2025-04-19T16:18:05Z

UAE Sees Progress on AI Chips Access After $1.4 Trillion Pledge

The United Arab Emirates is optimistic about securing access to cutting-edge chips currently under US export restrictions, after pledging $1.4 trillion to strengthen ties with Washington.

2025-04-18T15:56:01Z

Bank schedules for Holy Week 2025

Most branches of Philippine banks will be closed during the Holy Week holidays, 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 schedules for the week, as Malacañang earlier declared April 17, Maundy Thursday, and April 18, Good Friday, as regular holidays; and April 19, Black Saturday, as a special non-working day: Bank of the...

2025-04-14T12:10:30Z

White House Gives Update After Trump Urges 'Termination' of Fed's Powell

On Thursday, Trump blasted Powell for not cutting interest rates and once again suggested he could remove him as Fed Chair.

2025-04-18T15:31:14Z

Asian markets are mostly higher as Wall Street is stuck in trade war doldrums

BANGKOK (AP) — Asian shares were mostly higher in thin Good Friday trading after a bumpy ride on Wall Street, where the Dow industrials lost 1.3% as UnitedHealth shed more than a fifth of its value due to a weaker-than-expected profit report. U.S. stock and bond markets will be closed on Friday. Tokyo's Nikkei 225 gained 1% to 34,730.28, while the ...

2025-04-18T04:04:05Z

Humanoid robots stride into the future with world's first half-marathon

Step by mechanical step, dozens of humanoid robots took to the streets of Beijing early on Saturday, joining thousands of their flesh-and-blood counterparts in a world-first half marathon showcasing China's drive to lead the global race in cutting-edge technology. "It was quite a breathtaking experience -- we were able to see some of the most cutting-edge robots in our country."

2025-04-19T02:03:12Z

PH auto sales hit 40,306 units in March 2025

Over 40,000 vehicles were added to Philippine streets in March to mark a 2.9% increase from the sales in the previous month, data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) on Monday showed. There were 40,306 units sold in March, up from the 39,164 units sold in February, and 7.8% higher than the 37,474 units sold in March 2024. Commercial vehicles accounted...

2025-04-14T11:10:32Z

US unveils new port fees for Chinese-linked ships

The United States unveiled new port fees on Chinese built and operated ships Thursday, in a bid to boost the domestic shipbuilding industry and curb China's dominance in the sector. There will be separate fees for Chinese operated ships and Chinese built ships, and both will gradually increase over subsequent years.

2025-04-18T00:48:16Z

Reeves Pledges No Increases to UK Wealth Taxes in Next Budget

Rachel Reeves vowed not to raise wealth taxes in her Autumn Budget, casting off speculation that the Chancellor of the Exchequer will increase levies to defend the UK’s fiscal buffer.

2025-04-19T09:01:36Z

How the Bond Markets Tamed Trump | Opinion

Even a sinking stock market couldn't convince President Trump to pause his tariffs. Then the bond market forced him to fold.

2025-04-18T19:56:59Z

Last-Minute Bounces in Chinese Stocks Suggest Hidden State Hand

China’s sovereign wealth fund appears to have stepped in to shore up stocks this week as escalating trade tensions with the US rattle investors.

2025-04-18T00:25:00Z

US tech CEO charged for claiming AI but using PH manpower instead

The former head of a fintech startup in the United States has been indicted for making false claims about the company, allegedly claiming its app uses artificial intelligence (AI) but actually using manpower from the Philippines, federal prosecutors said. Albert Saniger, the former chief executive officer of e-commerce firm Nate, Inc (or nate), raised over $40 million after he “repeatedly” told investors that the nate app used proprietary AI...

2025-04-15T12:10:59Z

Capital One $35 billion purchase of Discover Financial gets regulatory approvals

NEW YORK (AP) — The pending merger between Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion. The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first announced in February 2024. The Federal Reserve B...

2025-04-18T16:59:28Z

Fidelity, Goldman Find Tariff Haven in Asian Consumer Stocks

The global trade war is providing a boon for Asian consumer stocks, as investors take shelter in companies that cater to local buyers’ essential needs.

2025-04-20T00:32:34Z

15 years after Deepwater Horizon oil spill, lawsuits stall and restoration is incomplete

NEW ORLEANS (AP) — Fifteen years after the Deepwater Horizon oil rig exploded off the Gulf Coast, killing 11 and sending 134 million gallons (507.2 million liters) of crude gushing into the ocean, the effects of the nation's worst offshore oil spill are still being felt. Oil company BP paid billions of dollars in damages, propelling ambitious coast...

2025-04-20T05:35:04Z

BSP seen to cut rates by 25 basis points in June meeting

The Bangko Sentral ng Pilipinas (BSP) is expected to cut policy rates by another 25 basis points in its next meeting in June as inflation has been rather subdued, Fitch Group think tank BMI Country Risk & Industry Research said in a commentary released Monday. In its report, BMI cited the latest inflation print which clocked in at 1.8% in March, the slowest rate in nearly five years since the 1.6% recorded in May 2020, which could prompt the...

2025-04-14T11:10:32Z

Tokyo leads gains in most Asian markets on trade deal hopes

Tokyo led most Asian markets higher Friday on optimism about a Japan-US trade deal as investors keep tabs on countries' tariff talks with the White House. On Friday, US Ambassador to Japan George Glass said he was "extremely optimistic that a deal will get done".

2025-04-18T03:09:42Z

Donald Trump's Desired Rate Cuts Could Send Mortgages Prices Up

Donald Trump has called for the "termination" of Federal Reserve chair Jerome Powell.

2025-04-19T16:17:58Z

Trump Officials Weigh Earth Day Move Against Green Groups

White House officials are preparing executive orders that would strip some environmental nonprofits of their tax-exempt status, setting up a possible Earth Day strike against organizations seen as standing in the way of President Donald Trump’s push for more domestic oil, gas and coal production.

2025-04-18T01:21:39Z

BSP, IFC ink pact to advance ‘movable’ finance market

The Bangko Sentral ng Pilipinas (BSP) and World Bank Group member International Finance Corp. (IFC) have signed an accord to jointly develop the country’s movable finance market in a bid to improve credit access for micro, small, and medium enterprises (MSMEs) and the agricultural sector. In a statement on Wednesday, the BSP said it signed a memorandum of understanding (MOU) with IFC last March 17, 2025. Under the MOU, both the central bank and...

2025-04-16T06:11:22Z

Student Loans: Some Borrowers Ditching PTO to Get Payment Boost

More than 40 million Americans hold federal student loans, and over 10 percent are believed to be in default.

2025-04-18T22:11:34Z

Mayor Randall Woodfin on Creating Job Opportunities in Birmingham

One of the youngest mayor's in our nation's history is trying some new ideas to help and grow his city's workforce and quality of life.

2025-04-18T17:11:53Z

Crews restore power to nearly all customers after island-wide blackout hit Puerto Rico

SAN JUAN, Puerto Rico (AP) — Power was restored to more than 98% of customers Friday after an island-wide blackout hit Puerto earlier this week, authorities said. More than 1.45 million customers had electricity less than 48 hours after the outage hit, according to Luma Energy, which oversees the transmission and distribution of power on the island...

2025-04-18T12:04:37Z

NEDA: Current US tariffs net positive for PH, but ‘very minimal’

The latest iteration of the United States’ tariffs could still mean a net positive for the Philippines, but this will only be very minimal and the country is still unlikely to hit the upper band of its target economic growth range of 6.0% to 8.0% this year, the National Economic and Development Authority (NEDA) said Monday. In a briefing in the agency’s headquarters, Balisacan said simulations done by the NEDA indicate that a 10% levy on goods...

2025-04-14T11:10:39Z

China Accelerates Budget Spending to Counter Tariff Woes

China expanded government spending at the fastest rate for any first quarter since 2022, ramping up support for an economy bracing for foreign demand declines as a trade war with the US intensifies.

2025-04-18T14:46:21Z

Los Angeles Rent Prices Spike After Devastating Wildfires

Rent growth in the city surged by 7.2 percent year-over-year, significantly outpacing the national average of 2.9 percent.

2025-04-18T20:06:24Z

Tomato Price Warning Issued Over Trump Tariffs

The Trump administration is pulling the U.S. out of a tomato import agreement with Mexico.

2025-04-19T14:37:51Z

BIR sticking to P3.23-T collection goal for 2025

The Bureau of Internal Revenue (BIR) is confident of hitting its collection target this year despite headwinds, such as an anticipated global economic slowdown resulting from a so-called trade war triggered by US President Donald Trump’s reciprocal tariff policy. For 2025, the BIR is aiming to collect a record-high P3.23 trillion in revenues, a mid-double digit growth from its actual collection of P2.848 trillion in 2024. Asked if the taxman...

2025-04-18T08:12:16Z

Volvo to Cut Up to 800 US Jobs Amid Tariff Uncertainty: Reuters

Volvo Group is preparing to lay off as many as 800 workers at three US sites in the coming months amid uncertainty over how President Donald Trump’s tariff policy will affect demand, Reuters reported.

2025-04-19T12:26:48Z

SM Offices: Mall-based offices occupancy at 95%

SM Offices, a unit of Sy-led property giant SM Prime Holdings Inc., saw a strong uptake for its mall-based offices. In a news release on Wednesday, SM Offices said that, as of January, the occupancy rate of its 15 mall-based offices in the Philippines stood at 95%. The company attributed the nearly one hundred percent uptake of its mall-based offices to businesses’ move towards mixed-use developments, expansion into provincial markets, and...

2025-04-16T09:11:27Z

Xi’s No. 2 Signals Openness to Policy Shift as Tariffs Hit

Chinese Premier Li Qiang said government officials need to ensure market confidence at “critical moments” with prompt and proactive policy measures, comments that appear to signal urgency to shore up the economy as the trade dispute with the US worsens.

2025-04-17T14:49:42Z

China announces new free trade agreement with ASEAN amid tariff disputes with US

In light of the ongoing tariff conflicts between the United States and China, Chinese Ambassador to the Philippines Huang Xilian has announced that negotiations for an updated version of the China-ASEAN Free Trade Agreement (FTA) have concluded successfully. This new agreement, known as version 3.0, builds upon the prior version 2.0 and seeks to strengthen trade relations between China and the member countries of the Association of Southeast...

2025-04-16T14:11:32Z

These Big Cities Cut Back Cars. This Is What Happened Next

Traffic restrictions are controversial. Here is how they are playing out in three global cities.

2025-04-18T10:01:12Z

Cash crunch leaves Syrians queueing for hours to collect salaries

Seated on the pavement outside a bank in central Damascus, Abu Fares's face is worn with exhaustion as he waits to collect a small portion of his pension. "There are a lot of ATMs in Damascus, but very few of them work," she said.

2025-04-18T03:48:47Z

Japan rice prices soar as core inflation accelerates

Rice prices in Japan last month were almost twice what they were a year earlier, official data showed Friday, as core inflation accelerated in the world's number four economy. The data is likely to strengthen expectations that the Bank of Japan will hike interest rates, with inflation above the BoJ's target of two percent for almost three years.

2025-04-18T01:03:15Z

Marcos signs law extending Meralco franchise

President Ferdinand "Bongbong" Marcos Jr. has signed into law the proposed measure seeking to extend the franchise of power distributor Manila Electric Company (Meralco). The President's act was confirmed Tuesday by Executive Secretary Lucas Bersamin. "Signed by the President, not lapsed into law," Bersamin said in a message. According to Bersamin, the law was signed on April 11. This will renew the franchise of Meralco for another 25 years. In...

2025-04-15T12:10:59Z

U.S. small manufacturers hope to benefit from tariffs, but some worry about uncertainty

NASHVILLE, Tenn. (AP) — Drew Greenblatt is fully on board with the Trump administration’s use of tariffs to rebalance a global trading system that it says favors foreign companies over U.S. manufacturers. Greenblatt is the president and owner of Marlin Steel Wire Products in Baltimore, Maryland, which makes baskets and racks for medical device manu...

2025-04-19T13:00:42Z

Is the US dollar at risk of a ‘confidence crisis’?

Fears about unpredictable policy are prompting investors to question their faith in the US dollar.

2025-04-19T10:13:02Z