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Anthropic urges industry coordination to allow for a 'pause' in AI development if risks grow

Anthropic is proposing that the world's top artificial intelligence companies come up with a coordinated way to pause development of advanced AI systems, warning the technology is improving so quickly there's a risk humans would lose control. The company behind the Claude chatbot said in a blog post Thursday that as cutting-edge AI gets increasingl...

2026-06-05T15:29:46Z

DTI sees ube, calamansi as export 'rising stars' amid coconut gains

The Department of Trade and Industry (DTI) said Philippine coconut exports have increased by 35 percent, alongside growing global demand for ube and calamansi, which it described as emerging “rising stars,” Trade Secretary Maria Cristina Roque said Sunday. “Pineapple and banana are also strong, but we are now seeing rising stars in ube and calamansi,” Roque said in an interview on Super Radyo dzBB. Roque said the DTI sees the strongest potential...

2026-05-31T13:02:57Z

EXPLAINER: What Is National Oil Stockpiling?

This week, Energy Secretary Sharon Garin announced that sovereign wealth fund Maharlika Investment Corporation (MIC) and the Philippine National Oil Company (PNOC) are finalizing an agreement on a national oil stockpiling program. Fuel prices have surged since the US and Israel's attack on Iran at the end of February, which led the Islamic republic to force the closure of the Strait of Hormuz, the narrow waterway between Iran and Oman which in...

2026-06-04T16:03:00Z

Trump signals interest in US owning stakes in top AI labs

President Donald Trump expressed interest in the US government holding equity stakes in leading artificial intelligence developers, saying that he planned to discuss the idea of a partnership with AI companies’ executives as soon as next week.

2026-06-05T18:26:34Z

French carriers to buy Patrick Drahi’s SFR for €20.4 billion

A consortium of French telecommunications companies signed an agreement to buy competitor SFR in a deal valuing the country’s second-largest mobile carrier at €20.4 billion ($23.5 billion), a deal that will test European regulators’ tolerance for industry consolidation.

2026-06-06T22:41:40Z

Miami moves to seize part of posh island after fuel fight

Miami’s mayor is moving to forcibly acquire 10 acres of land on Fisher Island, one of the priciest ZIP codes in the US, from real estate developers who want to replace a maritime fuel facility with swanky new condominiums.

2026-06-05T17:46:49Z

Inflation cools down to 6.8% in May 2026

Philippine inflation rate eased in May 2026 on the back of slower increases in fuel and food costs seen during the period, the Philippine Statistics Authority (PSA) reported on Friday. At a press briefing, National Statistician and PSA chief Claire Dennis Mapa said inflation — the rate of increase in the prices of goods and services — slowed down to 6.8% last month from 7.2% in April 2026. May’s inflation print brought the year-to-date rate to...

2026-06-05T03:02:58Z

Owners Renovating House Thought Secret Door Was Discovery, Then Came Twist

“Gosh, the thought of this makes me cry - how magical this moment must have been for you,” one user wrote in the comments.

2026-06-05T13:13:42Z

Trump’s Alaska oil, gas lease auction draws just two bidders

Only two bidders participated in the Trump administration’s auction for drilling leases in Alaska’s Arctic National Wildlife Refuge as big oil companies sat out the sale.

2026-06-05T19:11:28Z

Treasury warns banks of 'red flags' tied to customers in the US illegally

WASHINGTON (AP) — Treasury’s financial crimes arm wants banks to help identify payroll schemes tied to people living in the country illegally, as part of the Trump administration's latest measure to clamp down on immigration. The Financial Crimes Enforcement Network — also known a FinCEN — issued an advisory Friday to banks that tells them to watch...

2026-06-05T14:54:58Z

Illinois joins Ohio in ordering pause on data center tax credits

Governor JB Pritzker issued an order pausing state tax incentives for data centers in Illinois after the state legislature stalled his plan to keep data-center energy costs from affecting local residents’ bills.

2026-06-06T19:11:06Z

Operator of S&P 500 decides against fast-tracking 'MegaCap' IPOs into its stock indexes

The operator of the S&P 500 says it has decided not to change its guidelines for when very large “MegaCap” companies are eligible for inclusion into its bevy of stock indexes. In its announcement Thursday, S&P Dow Jones Indices said its index committee weighed responses received from a “wide range of market participants,” but ultimately decided not...

2026-06-05T17:39:54Z

Fact focus: Is inflation a red state vs. blue state issue? It's increasing no matter how you cut it

WASHINGTON (AP) — After cooling slowly in 2024 and 2025, inflation is rising again, squeezing most Americans' budgets and making it harder to afford gas, groceries, and other necessities. Inflation reached 3.8% in April from a year earlier, the highest in three years. So, how bad is it really? Larry Kudlow, a financial news commentator on Fox Busin...

2026-06-05T18:12:24Z

CDC, Casino Plus recognized for cultural initiative

Clark Development Corporation’s cultural heritage initiative, Via Crucis, which was backed by Casino Plus through the Stotsenberg Leisure Park and Hotel Corporation and its CSR arm, the Color Your World Foundation, fetched the Best Emerging Concept Performance Award at the 3rd Philippine LEAF Awards. In a news release, Casino Plus said the initiative aims to bridge cultural gaps and preserve Filipino religious customs for younger generations....

2026-06-06T15:02:58Z

BPI partners with Tambunting Pawnshop to expand access to banking services

The Bank of the Philippine Islands (BPI) has partnered with Tambunting Pawnshop to expand access to banking services in underserved and community-based markets across the Philippines. In a news release on Thursday, BPI said Tambunting Pawnship is joining its network of “May BPI Dito” partner stores through its BPI Agency Banking to enable customers to access select BPI services within their neighborhood Tambunting branches. Customers can...

2026-06-04T13:02:58Z

PH foreign reserves drop to 16-month low in May 2026

The Philippines’ gross international reserves (GIR) declined to its lowest level in 16 months in May, data from the Bangko Sentral ng Pilipinas (BSP) showed Saturday. The GIR — a measure of the ability to settle import payments and service foreign debt — stood at $103.937 billion last month, down from $104.328 billion in April 2026 and $105.176 billion in May 2025. This is the lowest in over a year since the GIR stood at $103.271 billion in...

2026-06-06T04:02:57Z

Fed’s Barr warns of risks tied to looser Wall Street bank rules

Federal Reserve Governor Michael Barr criticized moves from regulators over the past year to relax the rules for US lenders, saying the proposals “considerably weaken bank regulation and supervision.”

2026-06-06T17:11:07Z

PH secures P56.3-B investment, 10,300 jobs during Japan state visit, says DTI

The Philippines secured P56.3 billion worth of investments and 10,300 jobs during during President Ferdinand Marcos, Jr.'s recent state visit to Japan, Department of Trade & Industry Secretary Maria Cristina Roque said Sunday. From May 26 to 29, Marcos Jr., First Lady Liza Araneta-Marcos, and other Philippine delegates visited Tokyo, Japan, at the invitation of the Japanese government. In an interview on Super Radyo dzBB, Roque said the...

2026-05-31T12:02:58Z

Atlas Air says company may still order Boeing’s latest freighter

Atlas Air Worldwide Holdings Inc., one of the world’s largest air cargo operators, is considering an order for Boeing Co.’s latest 777X freighter even after the company placed a sizable aircraft order with rival Airbus SE.

2026-06-05T21:46:40Z

Nvidia's Huang arrives in South Korea with 'surprises', bets on robotics

Nvidia chief executive Jensen Huang arrived in Seoul Friday for a packed schedule of meetings with tech leaders, promising "some surprises" for South Korea while predicting robotics will be the country's next major growth sector. Huang said robotics would be the "next major sector here in South Korea", and that the country is "extraordinary at manufacturing, mechatronics, and also artificial intelligence".

2026-06-05T13:50:15Z

Marcos OKs 2026 strategic investment priority plan to boost economy, jobs

President Ferdinand Marcos Jr. has approved the 2026 Strategic Investment Priority Plan (SIPP) that seeks to guide government incentives, prioritize innovation, and boost job creation for Filipinos. This was contained in Memorandum Order (MO) No. 47 signed on May 21, 2026 by the President and published on the Official Gazette website. Marcos said the 2026 SIPP is “aligned with the policies of the National Government embodied in the AmBisyon...

2026-06-02T15:02:57Z

DTI: Japan's E-SupportLink mulls expanding operations in PH

The Department of Trade and Industry (DTI) on Saturday said Japanese agri-tech firm E-SupportLink Ltd. expressed interest in expanding its operations in the Philippines. In a news release, the DTI said domestic banana producers could gain access to advanced artificial intelligence (AI) and drone systems that help detect plant diseases earlier and improve plantation productivity through E-SupportLink’s solutions. The Japanese firm expressed this...

2026-05-30T12:02:59Z

TESDA, Diageo launch 'bartending masterclass' to boost premium tourism skills

The Technical Education and Skills Development Authority (TESDA) and Diageo Philippines have partnered to provide Filipino bartenders with globally recognized training, as the country seeks to strengthen its hospitality workforce amid growing demand for premium tourism experiences. The two organizations recently signed a memorandum of agreement launching the “Diageo Masterclass Series,” a bartending development program that will supplement...

2026-06-03T12:03:05Z

Former supermodel Carré Otis files Paris rape complaint against ex-Elite boss

PARIS (AP) — Former American supermodel Carré Otis filed a complaint Friday at a Paris court alleging she was raped and trafficked by Gérald Marie, the former European head of Elite Model agency, in a move her lawyer said is meant to encourage other potential victims to come forward. Marie has denied the allegations and cannot be prosecuted over Ot...

2026-06-05T14:39:53Z

AI fever spreads, but are markets masking economic cracks?

SpaceX's record-smashing IPO plan shows investors are eager to keep pouring money into all things AI, even as alarm bells ring for the wider economy. SpaceX meanwhile aims to raise $75 billion in an initial public offering expected next week, by far the largest IPO ever.

2026-06-05T14:20:15Z

Saks wins approval to exit bankruptcy after reorganizing

Luxury retailer Saks Global Enterprises won court permission to exit bankruptcy, after shutting its discount businesses and closing unprofitable stores so as to focus on selling the high-end goods for which it has long been known.

2026-06-05T18:51:40Z

S&P’s SpaceX snub shows Elon Musk the power of index gatekeepers

Elon Musk once said passive investing has “gone too far,” mocked environmental, social and governance indexes as a “scam” and endured a long wait to get Tesla Inc. into the S&P 500.

2026-06-05T19:27:10Z

Elon Musk to attend ASML’s private tech event to discuss Terafab

Elon Musk will virtually attend a closed door technology conference run by ASML Holding NV to discuss his Terafab project, which the chip-equipment maker considers a “serious endeavor.”

2026-06-06T15:26:33Z

Crypto crash deepens: $2 trillion wiped from market

Bitcoin has fallen 50 percent from its October peak amid institutional pressures and a rally in traditional assets.

2026-06-05T17:53:42Z

DTI-BOI grants green lane certifications to 14 projects worth P340 billion

The Department of Trade and Industry (DTI), through the Board of Investments (BOI), has granted Green Lane certifications to 14 projects—majority of which are renewable energy initiatives—in the first four months of 2026. In a statement on Thursday, the DTI said the approved14 projects are worth P340.07 billion in total investments and are expected to generate 37,828 jobs. The agency said the January to April Green Lane-certified projects were...

2026-06-04T19:03:03Z

Pressure mounts on rookie chair Warsh as jobs fuel Fed-hike bets

The US labor market is back on its feet, strong employment data showed Friday, stoking concerns of another inflation sting and bolstering arguments from some Federal Reserve officials that they may need to raise interest rates later this year.

2026-06-05T17:07:09Z

She thought she'd be burdened by student loans forever—then it all changed

"Seeing those loans disappear felt like a reward," Charmaine Pitt said. She had her debt forgiven after Sweet v. McMahon.

2026-06-06T10:13:42Z

Analysis: Is the Philippines at risk of stagflation?

In 2013, the World Bank described the Philippines as a “rising tiger,” pointing to its strong economic growth and improving macroeconomic stability. More than a decade later, the picture is more complicated. Global price shocks due to the conflict in the Middle East, along with domestic concerns such as the flood control corruption scandal, have slowed economic growth to its weakest level since the COVID-19 pandemic lockdowns while pushing...

2026-06-02T13:04:34Z

Gender and Latin American studies among dozens of courses axed at Texas A&M

East Texas A&M told Newsweek it was a "normal part of running a university."

2026-06-05T13:23:22Z

Bitcoin falls below $60,000 for first time since 2024 Trump win

Bitcoin fell below $60,000 for the first time since October 2024, extending its reversal from market darling after the reelection of US President Donald Trump to a casualty of a rapidly changing speculative landscape.

2026-06-05T16:52:00Z

DoubleDragon eyes 1,800% revenue growth by 2035

Listed property developer DoubleDragon Corp. is targeting an 1,800% increase in total revenues by 2035, after posting a record-high P27.91 billion in 2025, driven mainly by stronger contributions from its overseas operations. The company said it aims to reach P500 billion in annual revenues by 2035—about 18 times its 2025 level—marking a 56.3% increase from its 2024 figure of P27.91 billion and the highest in its corporate history. DoubleDragon...

2026-06-01T05:02:57Z

Saudi's Acwa Power, EPI partner to develop 5,000-MW RE, gas-fired power capacity

Acwa Power Philippines – a subsidiary of Saudi Arabia’s desalination company Acwa – has signed an agreement with Nickel Asia Corp.-backed Emerging Power Inc. (EPI) to jointly explore the development of up to 5,000 megawatts (MW) of renewable energy and gas-fired generation capacity across the Philippines. In a statement on Thursday, Nickel Asia said the JDA aims to provide renewable and gas-fired power generation at national scale, to establish...

2026-06-04T17:02:58Z

Paramount to face legal challenge from states on Warner deal

The top lawyers for several states are drafting a legal challenge to Paramount Skydance Corp.’s $110 billion deal to buy Warner Bros. Discovery Inc., laying the groundwork for an antitrust suit over the Hollywood mega-deal.

2026-06-05T18:36:37Z

Wall Street sours on Lululemon shares after sales outlook cut

Only one Wall Street analyst still rates Lululemon Athletica Inc. as a buy after the upscale yogawear company cut its annual forecast amid slumping sales in North America.

2026-06-05T19:41:39Z

Vietjet to debut Cebu-Ho Chi Minh direct flights in December 2026

Vietnam’s budget carrier Vietjet is launching a new direct flight service connecting Cebu and Ho Chi Minh City as part of its expansion in the Philippine market. In a news release issued Tuesday, Vietjet said the new Cebu–Ho Chi Minh City service is set to commence on December 11, 2026. The new route will operate five roundtrip flights per week. Vietjet said the new flight service follows the successful launch of its Manila–Ho Chi Minh City...

2026-06-02T12:03:11Z

Who owns Bitcoin—and why the crash matters (or doesn’t) to your wallet

Bitcoin plunged over 15% in a week, erasing post‑election gains and hitting younger crypto investors hardest.

2026-06-05T20:28:10Z

Strong US job growth beats expectations in May, firming recent gains

US job growth surged past expectations in May with the unemployment rate remaining steady, as the labor market in the world's largest economy showed signs of firming after months of turbulence. Analysts expect rates to stay steady for now, with CME's FedWatch showing that markets were pricing in a likely rate hike by December.

2026-06-05T14:00:50Z

Asia-to-US container rates spike 109% since Iran war started

Container shipping rates jumped over the past week amid higher fuel costs, congestion at some Asian ports and a pickup in demand heading into a peak season for booking ocean freight.

2026-06-06T12:57:03Z

What bumper jobs report means for mortgages and housing market

Better-than-expected job growth is good news, but negative real wages suggest American homebuyers will continue struggling.

2026-06-06T14:53:33Z

Latest jobs report: Charting the top hiring and losing industries

Although overall hiring outpaced market expectations, the unemployment rate, which is 4.3 percent, held relatively steady.

2026-06-05T18:48:40Z

JPMorgan turns rosy on Tesla a day after Dimon lauds Musk

The morning after Jamie Dimon offered Elon Musk an audience to talk up SpaceX, JPMorgan Chase & Co.’s new lead autos analyst completely changed the bank’s tune on Tesla Inc.

2026-06-05T13:46:30Z

Peso strengthens further to P61.47:$1 amid slower May inflation data

The Philippine peso ended the week on a strong note on Friday, supported by optimism following a slower-than-expected inflation rate in May. The local currency gained 15.5 centavos to close at P61.47:$1 from Thursday’s finish at P61.625:$1. In a commentary, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the stronger peso versus the greenback came after “better-than-expected local inflation data.” The Philippine Statistics...

2026-06-05T11:02:58Z

Trump says US still weighing share sale for Fannie, Freddie

President Donald Trump said his administration is still considering a public offering of shares in mortgage giants Fannie Mae and Freddie Mac, days after he said he was appointing his top housing official to oversee the government’s network of intelligence agencies.

2026-06-05T19:26:09Z

Map shows how World Cup ticket prices rival rent and mortgages

In the 11 U.S. cities hosting World Cup games, ticket prices rival the cost of rent or mortgage payments, a new study found.

2026-06-05T14:38:34Z

These Gen Xers put off buying a home—now they see how good they had it

When looking at Gen Xers' salaries vs rent costs in today's terms, a stark reality emerges.

2026-06-06T11:13:29Z