Tag: Business
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Philippines Q2 GDP at 2.3% yr/yr, slower than expected
MANILA, Aug 7 : The Philippine economy grew 2.3 per cent in the second quarter from a year earlier, the statistics agency said on Friday, slower than expected.Economists in a Reuters poll had expected second-quarter gross domestic product growth of 2.8 per cent, which would have matched the first-quarter grow
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Philippines Q2 GDP grows 2.3% yr/yr, slower than expected
MANILA, Aug 7 : The Philippine economy grew 2.3 per cent in the second quarter from a year earlier, the statistics agency said on Friday, slower than expected.• Economists in a Reuters poll had expected the economy to grow 2.8 per cent year-on-year in the second quarter, which would have matched the first-q
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Meta ordered to pay $567 million in New Mexico for teen mental health fund
Aug 6 : A New Mexico state court ordered Meta on Thursday to pay $567 million and change how its platforms function for young users in the state after finding the company is to blame for harming children’s mental health.Judge Bryan Biedscheid in Santa Fe ruled the company had created a public nuisance in New
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OCBC, UOB post higher Q2 profit on stronger fee income
OCBC posted a 22 per cent rise in second-quarter net profit, while UOB saw a 10 per cent increase in net profit in the second quarter, helped by record wealth fees.
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Oil rises on concerns over Strait of Hormuz reopening plans
PERTH, Aug 7 : Oil continued its rise on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, suggested banning vessels deemed hostile from the strait and heavily fining those who violated the proposed rules. Brent crude futures rose 99 cents, or 1.2 per cent, t
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Japan June household spending falls unexpectedly
TOKYO, Aug 7 : Japanese household spending dropped unexpectedly in June from a year earlier, government data showed on Friday, for a seventh straight month of decline. • Consumer spending fell 3.3 per cent year-on-year, data from the internal affairs ministry showed, exceeding the median market forecast
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New Mexico court orders Meta to pay $567 million for teen mental health fund
Aug 6 : A New Mexico court ordered Meta on Thursday to pay $567 million into a state fund to tackle mental health issues faced by teenagers using its products.The ruling by the New Mexico First Judicial District Court in Santa Fe follows a trial in which a state jury fined the company $375 million…
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Japan’s April yen-buying intervention sets fresh daily record
TOKYO, Aug 7 : Japanese authorities conducted a record single-day yen-buying intervention in foreign exchange markets in April, selling $40 billion worth of dollars, as they resumed massive yen-buying operations to stem the yen’s slide.Quarterly data from the Ministry of Finance (MOF) released on Friday showe
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Microchip Tech forecasts upbeat quarterly revenue on strong demand
(Corrects share movement in fourth bullet to up 7 per cent from down 4 per cent)Aug 6 : Microchip Technology forecast second-quarter revenue and profit above Wall Street estimates on Thursday, on strengthening demand for its chips used in AI data centers as well as the industrial, automotive and aerospace se
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Cloudflare raises annual outlook above market estimates on AI-driven demand
Aug 6 : Cloudflare raised its full-year revenue forecast above Wall Street expectations after strong quarterly results, betting that the rapid rise of AI agents will keep driving traffic across its network, sending its shares up 18 per cent after the bell.The race to build and scale AI agents has led more bus
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