ABS-CBN News Online Beta
| Jan | 07 |
| 2009 |
Business
(UPDATE) Dec inflation slows, BSP open to more rate cuts
Despite the seasonal price spike during the holidays, annual inflation in the Philippines eased to its lowest in nine months in December, largely due to falling oil costs, the government said Tuesday.
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Alcoa to slash 13,500 jobs and cut production
as of 01/07/2009 6:47 AM
NEW YORK – Aluminum producer Alcoa Inc said on Tuesday it will curtail metal production by about 18 percent and cut some 15,200 jobs to save cash and reduce costs as it seeks to counter the impact of the global economic downturn.
...full articleOil prices rally above 50 dollars as gas row escalates
as of 01/07/2009 1:31 AM
LONDON - Oil prices rose back above 50 dollars on Tuesday as the energy market was shaken by disruptions to gas supplies across Europe, where a cold snap boosted demand.
...full article2008 slump wipes out 17 trillion dollars in stock value: S&P
as of 01/07/2009 12:39 AM
NEW YORK - The nightmarish stock market performance in 2008 erased some 17 trillion dollars in share value worldwide, a Standard & Poor's report said Tuesday.
...full articleUS Nov pending home sales drop 4 pct to 7-yr low
as of 01/07/2009 12:27 AM
WASHINGTON - Pending sales of existing U.S. homes plunged to a seven-year low in November, data showed on Tuesday, as mounting job losses and a deepening economic recession kept potential house buyers on the sidelines.
...full articleTears as Britain's Woolworths stores shut for the last time
as of 01/07/2009 1:15 AM
WARRINGTON, England - British retail institution Woolworths closed the doors on a century of trading Tuesday, amid high emotions as the store became the latest victim of a deepening financial downturn.
...full articleMalacanang designs programs to create 1 million jobs by July
as of 01/06/2009 11:16 PM
To counter the global economic slowdown, President Arroyo unveiled today an emergency employment program that aims to create one million jobs by July 2009.
...full articleOther Headlines
Special Report
The inside story: How San Miguel worked its way into Meralco's board
LALA RIMANDO, abs-cbnNEWS.com/Newsbreak
San Miguel Corporation clinched the government's stake in power distributor Meralco by sneaking past another interested buyer—Manuel Pangilinan—and, possibly, by tapping on its officers' political capital.
Financial crisis highlights need for insurance sector reforms
JUDITH BALEA, abs-cbnNEWS.com
Given the lessons from the near-collapse of global giant insurer, American International Group (AIG), an inevitable question comes to mind: Will local insurance firms be able to weather a financial shock?
Views and Analysis
A growth strategy for the country in perilous times
Sen. Edgardo J. AngaraAn inevitable fact is that 2009 will be a perilous year. And how we spend our precious little resources, and putting it into good use, will determine whether we can provide a crucial safety net for our people.
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