U.S. Federal Reserve officials say that monetary policy will need to stay restrictive for “some time” to bring inflation back down to the Fed’s 2 percent target, but their unity around that phrase masks an ongoing debate over another possible rate hike this year. “I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2 percent in a timely way,” Fed Governor Michelle Bowman said Monday in prepared remarks ...
MANILA, Philippines —The Ty family-led Metropolitan Bank & Trust Co. (Metrobank) will pay record dividends of P22.5 billion to stockholders after achieving historic high earnings the past year. Metrobank, the country’s second-largest private bank, reported a significant boost in its net income for 2023, reaching P42.2 billion, which marks a 28.9-percent increase over 2022, a stock exchange filing on Thursday showed. This translated to a return on equity of 12.5 percent, higher than the 10.3 percent recorded in the previous year. ...
To solve the complex problems of the skills mismatch in the Philippine economy at this point of fast-changing technologies, which sector has to make a major first step? · The problem: It is effortless to say everyone must take immediate short-term steps for long-term employment and entrepreneurship prospects, since very few can even feel for these as talents produced do not fit the dramatically changing needs. Schools can prepare students for future jobs—but these have yet to be practically defined in curricular offerings beyond the United N ...
MANILA, Philippines — Inflation picked up for the second consecutive month in March, sending policymakers scrambling for a fix as the continued spike in rice prices remained the biggest contributor to the uptick. Inflation, as measured by the consumer price index (CPI), bolted 3.7 percent year-on-year in March, beating the February reading of 3.4 percent, the Philippine Statistics Authority reported on Friday. But the price gains in March were below market expectations of a 3.8-percent inflation rate, which was well within the 3.4 to 4.2 perc ...
SAN FRANCISCO, United States -Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked the data of users who thought they were browsing the internet privately. The object of the lawsuit was the “incognito” mode on Google’s Chrome browser that the plaintiffs said gave users a false sense that what they were surfing online was not being tracked by the Silicon Valley tech firm. But internal Google emails brought forward in the lawsuit demonstrated that users using incognito mod ...
The best business savings accounts are high-yield accounts from banks like Live Oak, Relay and NBKC that allow you to earn more money over time.
Tycoon Lucio Tan-led conglomerate LT Group Inc. grew attributable net profit last year by 49.5 percent to P16.2 billion on higher earnings across its banking, tobacco, liquor and property businesses. Banking arm Philippine National Bank (PNB) reported a net profit of P9.6 billion last year, 17 percent higher than the previous year, as gains from asset disposal complemented the expansion in core businesses. In terms of earnings contribution, PNB contributed P5.47 billion or 33 percent of total, w...
Aboitiz Power Corp. recorded slightly higher core net income in the January to September period on the back of strong generation and distribution businesses. ; Not taking into account foreign exchange and derivative gains, the company said core profit inched up to P27.2 billion in the first nine months, rising 1.9 percent from P26.7 billion a year ago. ; Meanwhile, cash flow as measured by earnings before interest, taxes, depreciation, and amortization (Ebitda) jumped by 12 percent to P56.1 billion in the period. ; READ: Aboitiz Power’s core profit down 4% in H1
PARIS, France -The International Energy Agency said on Thursday the risk of oil supply disruptions due to the conflict between Israel and Hamas is limited but that it stands ready to intervene in markets if necessary. The Paris-based agency, in addition to its analysis and advisory roles, coordinates the release of emergency stocks held by its 31 mostly advanced-economy member nations. A surprise weekend attack by Hamas on Israel has left thousands dead and rattled oil markets amid fears that other nations might intervene and possibly disrupt s ...
High interest on every dollar in your account, no minimum balance required ; All the features of a chequing account–you can deposit a cheque using mobile deposit, send or receive money using Interac e-Transfer , make Interac · Debit card purchases, pay bills and more!