Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
PARIS, France (AFP) — Shortages of natural gas and coal have triggered a switch to oil, boosting demand for crude and fuelling a rise in prices, the International Energy Agency said Thursday. The IEA, which advises governments on energy policy, said it now expects global oil demand for this year and 2022 to be higher than in its previous forecast. “Oil prices are scaling multi-year highs as a shortage of natural gas, LNG (liquefied natural […]
LONDON, United Kingdom (AFP) — US pizza delivery giant Domino’s unveiled plans Thursday to create 8,000 new jobs in the UK and Ireland after a strong pandemic performance. The group’s British-based division added in a statement that it had thrived despite the ongoing supply chain crunch, high inflation and a challenging labour market. Domino’s noted, however, that supply chain issues and rising wages were starting to impact the business, adding that labour availability and food […]
LONDON, United Kingdom (AFP) — Britain’s economy rebounded in August after the lifting of coronavirus restrictions, but unexpectedly shrank the previous month, official data showed Wednesday. Gross domestic product grew 0.4 percent in August, the first full month since the lifting of Covid curbs, the Office for National Statistics (ONS) said in a statement. “Accommodation and food service activities, and arts, entertainment and recreation contributed most positively to services growth in August 2021, partially offset […]
LONDON, United Kingdom (AFP) — World oil prices vaulted Monday to fresh multi-year pinnacles on strong demand and tight supplies, sparking inflation woes and weighing on most European stock markets. London Brent oil jumped to a three-year high at $84.38 per barrel, while New York’s WTI crude leapt to a seven-year peak $81.72. The recent decision by OPEC and other major producers not to ramp up output has further strained global supplies. “Nerves are still […]
Delays and price hikes are anticipated in the United States for holiday merchandise, a Federal Reserve official warned Sunday, calling for more to be done to boost the workforce. “Right now, we see consumers trying to get out early and spend their money to get their goods before they run out,” Mary Daly, head of the San Francisco branch of the US central bank, told CBS. When shopping for the upcoming holidays, “people are buying […]
WASHINGTON, United States (AFP) — The United States added 194,000 jobs last month and the unemployment rate fell to 4.8 percent, government data released Friday showed, a mixed result as the world’s largest economy recovers from the pandemic. Fewer jobs were gained than expected but the unemployment rate dropped by more than analysts predicted, with the Labor Department noting employment rising in the leisure and hospitality sector that had been hard hit by Covid-19, but […]
ZURICH, Switzerland (AFP) — Nestle is offering plant-based alternatives to eggs and shrimp as the Swiss food giant expands its menu in the growing vegan market, the company said Thursday. Nestle, owner of everything from chocolate to coffee and baby food brands, has for several years been reorganising its activities to focus more on health and wellness. The Swiss company has among other things been making a major push in vegetarian and vegan products. Its […]
More than a dozen heads of state and government, from Jordan to Azerbaijan, Kenya and the Czech Republic, have used offshore tax havens to hide assets worth hundreds of millions of dollars, according to a far-reaching new investigation by the ICIJ media consortium. The so-called “Pandora Papers” investigation — involving some 600 journalists from media including The Washington Post, the BBC and The Guardian — is based on the leak of some 11.9 million documents […]
President/COO of Philippine Airlines Gilbert Santa Maria discusses the backgound and prospects of PAL’s recovery plan as the airline navigates through the aviation business during a pandemic.
NEW YORK, United States (AFP) — United Airlines said Thursday it will dismiss fewer workers than previously announced after hundreds of additional employees were vaccinated for Covid-19. The big US carrier said the number of workers scheduled to be terminated dropped to 320 from 593, after the airline announced Tuesday it planned to fire anyone who had not received the shot. The airline revised its numbers following a surge in late vaccination uploads into its […]
MANILA, Philippines (AFP) — The Philippine economy will take more than a decade to return to pre-pandemic growth, an official said Thursday, warning the next two generations of Filipinos would be paying for the cost of Covid-19. Lockdowns and other restrictions aimed at slowing the spread of the coronavirus have shattered the Southeast Asian nation’s economy, throwing millions out of work and leaving many poor families hungry. “Our long run total cost of Covid and […]
Chinese factory activity contracted in September for the first time since the height of its initial coronavirus outbreak in February 2020, official data showed Thursday, as it faces waves of power outages and fears for the real estate sector. The Purchasing Managers’ Index (PMI) — a key gauge of manufacturing activity in the world’s second-largest economy — slipped to 49.6 from 50.1 in August, the National Bureau of Statistics said. Any figure below the 50-point […]
