Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
by Miguel SANCHEZ SANTIAGO, Chile (AFP) — Shares in Latin America’s largest airline plunged on the New York and Santiago stock exchanges on Tuesday after LATAM filed for bankruptcy in the US. LATAM has suffered a drastic slump in business due to the coronavirus pandemic, which has hit travel and tourism all over the world. Last month the airline scaled back operations by 95 percent. “LATAM entered this crisis as a healthy and profitable group […]
SINGAPORE, Singapore (AFP) — Singapore’s embattled economy could shrink by as much as seven percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector. The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain being wrought on countries by the killer disease. The warning also came hours before Singapore’s deputy prime […]
by Chris Stein Agence France Presse WASHINGTON, United States (AFP) — Job losses in the United States are slowing but totaled an unheard-of 38.6 million since the coronavirus pandemic lockdowns began, while officials debate what additional steps will be needed to rescue the beleaguered economy. Another 2.43 million Americans were put out of work last week, fewer than the previous week but still among the highest figures on record, according to the latest Labor […]
P706.85-B collected from Jan-April much lower compared to P900.33-B collected for same period last year (Eagle News) — The Department of Finance reported a dive in tax and customs collections for this year because of the COVID-19 pandemic. Both the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) reported a huge drop in collections from January to April this year, as these reached only P706.85 billion. This is P28.17 billion short of […]
by Chris Stein Agence France Presse WASHINGTON, United States (AFP) — Job losses in the United States are slowing but totaled an unheard-of 38.6 million since the coronavirus pandemic lockdowns began, while officials debate what additional steps will be needed to rescue the beleaguered economy. Another 2.43 million Americans were put out of work last week, fewer than the previous week but still among the highest figures on record, according to the latest Labor Department […]
PEKIN, China (AFP) — China took the rare move of not setting an annual growth target this year after the coronavirus battered the world’s second-largest economy and ravaged global growth, Premier Li Keqiang said Friday. Instead, given “great uncertainty” caused by the COVID-19 pandemic, Beijing will “give priority to stabilizing employment and ensuring living standards”, he told the opening of the National People’s Congress. He also announced that China’s fiscal deficit was expected to be […]
TOKYO, Japan (AFP) — 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. Core prices in April, excluding volatile fresh food, slipped 0.2 percent from a year earlier, reversing a rise of 0.4 percent in March, according to the internal affairs ministry. It was the first drop in 40 months, the ministry said, and […]
BANGKOK, Thailand (AFP) — Thailand’s economy shrank for the first time in six years because of the coronavirus pandemic, which has shuttered borders and devastated the tourism-reliant country. Some 40 million tourists were expected to arrive in Thailand this year, drawn to its sandy beaches, infamous nightlife and street food culture. But the outbreak has sharply bruised the country’s cash cow, with tourist vendors reporting as early as mid-January a drop in visitors after China […]
by Kyoko HASEGAWA Agence France Presse TOKYO, Japan (AFP) — Japan dived into its first recession since 2015, according to official data Monday, with the world’s third-largest economy shrinking by 0.9 percent in the first quarter as it wrestles with the fallout from the coronavirus. The drop in gross domestic product followed a 1.9-percent decline in the fourth quarter of 2019 as a tax hike and typhoons hit Japan hard — even before the pandemic […]
by Kyoko HASEGAWA Agence France Presse TOKYO, Japan (AFP) — Japan dived into its first recession since 2015, according to official data Monday, with the world’s third-largest economy shrinking by 0.9 percent in the first quarter as it wrestles with the fallout from the coronavirus. The drop in gross domestic product followed a 1.9-percent decline in the fourth quarter of 2019 as a tax hike and typhoons hit Japan hard — even before […]
SINGAPORE (AFP) — Singapore Airlines reported an annual loss of almost $150 million Thursday, driven by the collapse in air travel caused by the coronavirus pandemic, and the latest sign of the outbreak’s devastating impact on the aviation sector. The airline group — which includes subsidiaries SilkAir and Scoo — suffered a net loss of Sg$212 million (US$148 million) for the financial year that ended on March 31, compared to a profit of Sg$683 […]
NEW YORK, United States (AFP) — US department store JCPenney, which has not turned a profit since 2011, on Friday became the latest American retailer to be pushed into bankruptcy by the coronavirus pandemic. The iconic business said it was filing for Chapter 11, a mechanism which allows a company that can no longer pay its debts to restructure. The group, based in Plano, Texas, will close some stores across the US as a […]
