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50 small firms want to close temporarily putting jobs at risk: labor chief

ABS-CBN News
Updated as of May 22 11:26 AM

The labor department said Friday it was reviewing the appeal of about 50 business establishments to temporarily close operations due to losses from the coronavirus pandemic, putting at risk some 190,000 jobs.    Read more »

Japan consumer prices log first drop in more than 3 years

Agence France-Presse
Posted at May 22 09:18 AM

Consumer prices in Japan fell for the first time in more than three years last month, official data showed Friday, dragged down by the coronavirus pandemic and collapsing oil prices. Read more »

Trump urges quicker US reopening from virus lockdown

Susan Stumme and AFP bureaus, Agence France-Presse
Posted at May 22 07:19 AM

President Donald Trump on Thursday pressed for a broader reopening of the United States as coronavirus-related job losses mounted, while parts of Europe embraced post-lockdown life. Read more »

World Bank warns pandemic could push 60 million into extreme poverty

Agence France-Presse
Posted at May 20 07:51 AM

The head of the World Bank warned Tuesday that the coronavirus crisis threatens to push some 60 million people into extreme poverty, wiping out the gains made over the past three years.   Read more »

UK jobless claims jump to highest since 1996 as COVID crisis hits

Reuters
Posted at May 19 03:17 PM

A measure of the number of people claiming unemployment benefits in Britain soared to its highest level since 1996 in April, the first full month of the government's coronavirus lockdown, data published on Tuesday showed.   Read more »

US auto plants get back to work after COVID-19 halts

Jeff Kowalsky and John Biers, Agence France-Presse
Posted at May 19 07:18 AM

Two months after effectively freezing American auto manufacturing, Detroit's "Big Three" on Monday began to get back to business with masks, temperature checks and social distancing protocols to try to prevent coronavirus outbreaks.   Read more »

Meralco bukas sa mga reklamo sa bill

ABS-CBN News
Posted at May 18 10:25 AM

Inanunsyo ng Manila Electric Co, Lunes, na handa itong tumanggap ng mga reklamo at katanungan ukol sa mga bill para sa 2 buwan na nag-lockdown ang Metro Manila at malaking bahagi ng bansa para pigilin ang COVID-19.    Read more »

Apple reopening 25 more US stores, will soon top 100 worldwide

Reuters
Posted at May 18 09:35 AM

Apple Inc will this week reopen more than 25 of its branded stores in the United States, a company spokesman said on Sunday, continuing a gradual process that has unlocked doors at nearly a fifth of its worldwide retail outlets.   Read more »

Buzzfeed closes news operations in Britain, Australia

Agence France-Presse
Posted at May 14 12:21 PM

Groundbreaking website Buzzfeed said on Thursday that it would be shuttering part of its loss-making news operations in Britain and Australia, as it scales back global ambitions to cut costs.   Read more »

Guns blazing, some US businesses defy virus lockdowns

Manny Fernandez and David Montgomery, The New York Times
Updated as of May 14 08:50 AM

In at least a half-dozen cases around Texas in recent days, frustrated small-business owners have turned to heavily armed, militia-style protesters like Archibald’s group to serve as reopening security squads.   Read more »

'Transitory' economic downturn may last 2 quarters: Pernia

ABS-CBN News
Updated as of Mar 31 10:48 AM

Socioeconomic Planning Secretary Ernesto Pernia said Tuesday the Philippine economy could register zero or negative growth in the second and third quarters due to the COVID-19 pandemic before it bounces back late this year.  Read more »

Coronavirus stimulus: Philippines to do 'what it takes,' including larger deficit

ABS-CBN News
Updated as of Mar 26 11:30 AM

President Rodrigo Duterte's economic managers will do "what it takes" to rescue the economy from the coronavirus pandemic, including borrowing more than programmed, a finance official said Thursday. Read more »

Coronavirus economics: roundup of radical policy steps

Jitendra Joshi, Agence France-Presse
Posted at Mar 25 06:01 PM

Printing new money, gargantuan debt spending, loan guarantees, tax breaks and even direct payments to workers are all in the highly unorthodox mix.   Read more »

Bangko Sentral to buy P300 billion in gov't securities to aid coronavirus fight

ABS-CBN News
Updated as of Mar 23 06:25 PM

The Monetary Board on Monday approved the purchase of P300 billion in government securities from the Bureau of Treasury to support Filipinos affected by the coronavirus pandemic, the Bangko Sentral ng Pilipinas said. Read more »

Online transactions 'better' than holding cash: central bank

ABS-CBN News
Updated as of Mar 22 11:55 AM

Millions of Filipinos should transact digitally when possible and avoid hoarding cash, as banks move to keep branches and ATMs running during the 1-month lockdown of Luzon to contain the COVID-19 pandemic, the central bank said Sunday. Read more »

Bangko Sentral readies full arsenal to rescue Philippine economy from COVID-19

ABS-CBN News
Posted at Mar 20 04:45 PM

The Bangko Sentral ng Pilipinas said Friday it was prepared to deploy its full monetary and regulatory arsenal to help the economy recover from the COVID-19 pandemic. Read more »

Philippines to ensure 24/7 energy supply, as lockdown seen to slow power projects

ABS-CBN News
Posted at Mar 19 10:05 AM

Some foreign contractors and workers were barred from traveling while delays in delivery of imported parts and equipment needed for energy facilities have been observed, Energy Secretary Alfonso Cusi said in a statement. Read more »

'Whatever it takes': G7 pledge to safeguard world economy

Agence France-Presse
Posted at Mar 17 07:30 AM

Leaders of the G7 industrial powerhouses pledged Monday to join forces to halt economic freefall in the wake of the coronavirus pandemic, which they called "a human tragedy."   Read more »

Bangko Sentral readies interest rate cut to fight COVID-19 contagion on economy

ABS-CBN News
Posted at Mar 16 09:25 AM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday he would cut the benchmark borrowing rate by 25 basis points or higher later later this week to fight the economic fallout of the coronavirus disease epidemic. Read more »

Coronavirus worries sink Philippine shares the most since 2008 financial crisis

ABS-CBN News
Updated as of Mar 12 08:05 PM

Trading was halted shortly before the market closed, after the decline exceeded the 10-percent "circuit breaker." The Philippine Stock Exchange Index was down 10.33 percent to 5,697.13 before 3 p.m. Read more »