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Philippine economy posts slowest growth in five years in second quarter
MANILA, Aug 7 : The Philippine economy grew at its weakest annual pace since 2021 in the second quarter due to a slump in construction and softer domestic demand, but the government said there were some signs that activity may improve in the second half of the year.Growth slowed to 2.3 per cent in the…
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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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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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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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SpaceX stock climbs as shares available for trading more than double
Aug 6 : SpaceX stock rose in heavy trading on Thursday, as the number of shares available for public trading more than doubled following the expiry of the first of several lockup restrictions.The internet and rocket company’s stock was up 1.4 per cent at $109.86, with over $23 billion worth of the shares exch
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US agency ends 39% household cap on local TV station owners
WASHINGTON, Aug 6 : The U.S. Federal Communications Commission voted on Thursday to rescind the rule that bars local broadcast station owners from reaching more than 39 per cent of U.S. TV households in a move that could spark industry consolidation.The FCC voted 2-1 to lift the cap in favor of a case-by-case
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US agency ends 39% local TV station ownership cap
WASHINGTON, Aug 6 : The Federal Communications Commission voted on Thursday to rescind the rule that bars local broadcast station owners from reaching more than 39 per cent of the total number of U.S. TV households in a move that could help spark industry consolidation.The FCC voted 2-1 to lift the cap in fav
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Sandisk, Western Digital weigh on chip sector as high expectations eclipse strong earnings
Aug 6 : Data storage companies tumbled on Thursday after quarterly results from Sandisk and Western Digital failed to sustain momentum in an industry that has become one of Wall Street’s hottest bets this year.Shares of Sandisk lost 13.3 per cent to trade at $1,178, while Western Digital shed 19.1 per cent an
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SpaceX rebounds from post-earnings slide as investors eye lockup expiry
Aug 6 : SpaceX shares recovered from a steep post-earnings selloff, even as investors remained watchful of the impact of potential insider selling on the stock, which has had a turbulent run since its market debut.Shares of the Elon Musk-led company were last trading 6.4 per cent higher at $115.20 on Thursday
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