Business | ABS-CBN News

Villar's AllDay opens 35th store in bid to boost Manila presence

ABS-CBN News
Jan 26 11:53 AM

Villar's listed AllDay Marts Inc said on Wednesday AllDay Supermarket opened a branch in its 35th store as part of its continued expansion initiatives. Read more »

PSE reverts to normal trading hours in February

ABS-CBN News
Jan 26 11:41 AM

The Philippine Stock Exchange on Wednesday said it would go back to its normal trading hours in February. Read more »

Microsoft sees strong earnings on cloud computing

Agence France-Presse
Jan 26 10:31 AM

Microsoft beat market expectations with strong quarterly performance in cloud computing and software, still benefitting from the pandemic's online shifting of work, play, shopping and learning. Read more »

IMF slashes global growth outlook amid omicron hit

Heather Scott, Agence France-Presse
Jan 26 08:27 AM

The Washington-based crisis lender cut its world GDP forecast for 2022 to 4.4 percent, half a point lower than the October estimate, due to the "impediments" caused by the latest outbreak, although those are expected to begin to fade in the second quarter of the year. Read more »

IMF urges El Salvador to remove Bitcoin as legal tender

Agence France-Presse
Jan 26 08:21 AM

The IMF called on El Salvador to change course and stop using Bitcoin as legal tender, citing "large risks" posed by the cryptocurrency. Read more »

YouTube will explore NFT features for creators

Elizabeth Culliford, Reuters
Jan 26 08:18 AM

YouTube is exploring features for its video creators to capitalize on non-fungible tokens, its chief executive officer said on Tuesday, becoming the latest tech company to tap into a digital collectibles craze that has exploded in the past year. Read more »

PH shares buck regional slide; rise to 7,288

ABS-CBN News
Jan 25 11:12 PM

The Philippine Stock Exchange Index rebounded after Monday's decline as it defies mostly negative session in the rest of Asia. Read more »

Marcos Jr. open to 'sustainable' mining

Mico Abarro, ABS-CBN News
Jan 25 11:03 PM

In an interview with Boy Abunda, Marcos Jr. said mining a big source of revenue for the Philippine government. Read more »

Villar firm granted use of former ABS-CBN channels

Art Fuentes, ABS-CBN News
Jan 25 10:03 PM | Updated Jan 26 09:21 AM

A company owned by Manny Villar has taken over the broadcast frequencies formerly held by ABS-CBN Corp., whose application to renew its broadcast franchise was rejected by a congressional committee in 2020. Read more »

Google offers new replacement for advertising cookies

Paresh Dave, Reuters
Jan 25 09:11 PM

Alphabet Inc's Google on Tuesday announced its second try at enabling advertisers to buy ads based on users' browsing interests. Read more »

IBON blasts Duterte handling of pandemic, economy

Warren de Guzman, ABS-CBN News
Jan 25 08:49 PM

IBON Foundation Executive Director, Economist Sonny Africa said the economy suffered under the strict lockdowns imposed to curb the spread of COVID-19. Read more »

DOLE to inspect firms with foreign workers

ABS-CBN News
Jan 25 07:29 PM

Personnel of the Department of Labor and Employment will again be inspecting firms in the country that employ foreigners. Read more »

Asia markets dive as volatility sweeps globe ahead of Fed meeting

Agence France-Presse
Jan 25 06:27 PM

Asian markets plunged Tuesday following a highly volatile day on Wall Street fuelled by fears about the Federal Reserve's plans to hike interest rates. Read more »

Unilever to cut 1,500 management jobs in overhaul

Richa Naidu and Pushkala Aripaka, Reuters
Jan 25 06:18 PM

Unilever unveiled plans on Tuesday to cut about 1,500 management jobs in an overhaul aimed at easing shareholders' concerns after a failed takeover bid. Read more »

P500-M subsidy para sa mga magsasaka, mangingisda handa na

ABS-CBN News
Jan 25 05:47 PM

Nakahanda na ang pondo para sa fuel discount subsidy para sa mga magsasaka ng mais at mangingisda sa harap ng tumataas na presyo ng produktong petrolyo. Read more »

Maynilad pwedeng parusahan sa service interruption

ABS-CBN News
Jan 25 05:07 PM | Updated Jan 25 07:50 PM

Posibleng maharap sa penalty ang Maynilad dahil sa mahabang water interruption sa southern Metro Manila at ilang lugar sa Cavite. Read more »

#Halalan2022: Lacson OK with lifting of open pit mining ban

ABS-CBN News
Jan 25 04:52 PM

Lacson, in an interview with Boy Abunda, said he is also okay with the granting of new mining permits. Read more »

BSP tells public: inspect banknotes regularly

ABS-CBN News
Jan 25 03:01 PM

The Bangko Sentral ng Pilipinas on Tuesday said the public should regularly inspect banknotes to check for authenticity to protect against counterfeits. Read more »

ASEAN research org cuts Philippine growth forecast

Warren de Guzman, ABS-CBN News
Jan 25 02:38 PM | Updated Jan 25 05:58 PM

The Philippines is forecast to grow 6.2 percent this year, a research organization of the Association of Southeast Asian Nations said on Tuesday. Read more »

South Korea economy logs best annual growth in 11 years

Agence France-Presse
Jan 25 02:34 PM

South Korea's economy grew in 2021 at the fastest pace for 11 years thanks to robust exports and strong activity in the service sector, the central bank said Tuesday. Read more »

Fortinet betting on Filipino talents, support center

ABS-CBN News
Jan 25 12:15 PM

US-based cyber security solutions firm Fortinet on Tuesday said it was investing "significant" amount of money to build a global support center in the Philippines. Read more »

PCC says notification not needed in Ministop buyout

Jessica Fenol, ABS-CBN News
Jan 25 12:11 PM

The Gokongwei Group does not need to notify antitrust authorities of its buyout of partner in Ministop Philippines, the Philippine Competition Commission said. Read more »

Lufthansa, shipping group MSC eye majority stake in Italy's ITA

Agence France-Presse
Jan 25 08:53 AM

German carrier Lufthansa and Italian shipping company MSC have expressed an interest in acquiring a majority stake in Alitalia's successor ITA Airways, the Italian airline announced on Monday. Read more »

Pandemic causing 'nearly insurmountable' education losses globally: UNICEF

Agence France-Presse
Jan 25 08:44 AM

School closures due to the Covid-19 pandemic have caused "nearly insurmountable" losses in education among children around the world, UNICEF said. Read more »

Marketplace bug sees at least $1M of NFTs sold below market price

Elizabeth Howcroft, Reuters
Jan 25 08:33 AM

A bug in the largest NFT marketplace, OpenSea, allowed attackers to purchase at least $1 million worth of NFTs across multiple different wallets for significantly below market price, blockchain analytics firm Elliptic said on Monday. Read more »