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Alliance Global profits down 39% in Q1 2020

Jul 01, 2020 - 10:15 AM

The Taal Volcano eruption and the coronavirus pandemic hit Andrew Tan's empire

EARNINGS. Kevin and Andrew Tan. Photo from Alliance Global Group

MovePH webinar: How fact-checking is done in investigative reporting

Jun 29, 2020 - 7:44 PM

Join MovePH's webinar on fact checking and investigative reporting happening on Friday, July 3, at 4 pm via Zoom

Megaworld trims capex as coronavirus sinks profits by 9% in Q1 2020

Jun 29, 2020 - 6:05 PM

Megaworld joins other big companies in hitting pause on investments, as the coronavirus pandemic drags on


UK supermarket Tesco says sales jump in virus lockdown

Jun 26, 2020 - 11:10 PM

Tesco's online sales alone soar by a staggering 48.5% due to booming demand from customers staying at home

TESCO. A Tesco Extra supermarket in Wales. Photo from Shutterstock

Nike reports $790-million Q4 loss as sales plunge on virus hit

Jun 26, 2020 - 9:45 AM

Nike's quarterly revenues tumble 38% to $6.3 billion following huge declines in sales in most of the world

NIKE. A man walks past a Nike store at a mall in Beijing, China, on January 15, 2020. File photo by Wang Zhao/AFP

Market 'disconnect' could worsen virus downturn – IMF

Jun 25, 2020 - 11:25 PM

'Investors seem to be betting that lasting strong support from central banks will sustain a quick recovery even as economic data point to a deeper-than-expected downturn,' says the International Monetary Fund

JAPAN STOCKS. Pedestrians walk past an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo on June 15, 2020. Photo by Kazuhiro Nogi/AFP

EasyJet losses deepen as virus impact felt

Jun 25, 2020 - 12:10 PM

British airline EasyJet posts a net loss of 324 million pounds ($403 million, 357 million euros) in the 1st half of its fiscal year

EASYJET. An Airbus A321 of low-cost passenger carrier EasyJet is pictured in France on November 24, 2016. File photo by Pascal Pavani/AFP

OPEC throttles output in May 2020

Jun 17, 2020 - 10:00 PM

OPEC member states cut oil output by 6.2 million barrels per day in May 2020

OIL FEARS. In this file photo taken on December 11, 2019, an oil tanker is docked at the port of Ras al-Khair, about 185 kilometers north of Dammam in Saudi Arabia's eastern province overlooking the Gulf. File photo by Giuseppe Cacace/AFP

IEA says aviation to hold back oil recovery

Jun 16, 2020 - 10:20 PM

'Unlike gasoline and diesel, which are likely to recover to close to pre-crisis levels by the end of 2020, the outlook for jet fuel is more uncertain,' says the International Energy Agency

This handout satellite image released by Maxar Technologies shows a close up of lineup parked planes at Charles De Gaulle International Airport, in Paris, France, on March 27, 2020, during the coronavirus (Covid-19) outbreak. (Photo by - / Satellite image ©2020 Maxar Technologies / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Satellite image ©2020 Maxar Technologies " - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Satellite image ©2020 Maxar Technologies " - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Satellite image ©2020 Maxar Technologies " - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Satellite image ©2020 Maxar Technologies " - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS /

Virus crisis torpedoes foreign investment – U.N.

Jun 16, 2020 - 9:20 PM

The United Nations expects a 40% drop in global foreign direct investment in 2020

A boat sails at sunset, against the backdrop of Burj Khalifa and high rise buildings, in the Emirati city of Dubai, on May 27, 2020. - The Emirati authorities eased some of the restrictions that were put in place in a bid to stem the spread of the novel coronavirus, allowing some businesses to reopen. (Photo by Karim SAHIB / AFP)

Propaganda machine meets its match: Celebrity fandoms

Jun 16, 2020 - 7:18 PM

Where platforms are plagued with disinformation, propaganda, and trolls, freedom-loving Filipinos find an unlikely ally: celebrity fan groups

Interest in news high, but trust low in the Philippines – 2020 Digital News Report

Jun 16, 2020 - 1:23 PM

Filipinos' low trust in news could be due to the attacks that the media faced over the last year

India's Tata Motors reports $1.3-billion loss as coronavirus bites

Jun 15, 2020 - 11:25 PM

Tata Motors CEO Guenter Butschek cites 'subdued demand across segments.' But the company expects sales to gradually recover for the rest of the financial year.

TATA MOTORS. The company is badly hit by the coronavirus pandemic. Photo from Tata Motors website

International media groups denounce Ressa, Santos' conviction

Jun 15, 2020 - 5:24 PM

(5th UPDATE) The Committee to Protect Journalists, Reporters Without Borders, Foreign Correspondents’ Club Hong Kong, and International Federation of Journalists say the conviction is a crime against press freedom

Rappler CEO and executive editor Maria Ressa leaves after the press conference  after she attend the promulgation for the case of cyber libel file against rappler by business man wilfredo keng. photo by Dante Diosina Jr/Rappler

Dennis Uy's Udenna nets P3.4 billion in 2019, wary of virus impact for 2020

Jun 09, 2020 - 2:35 PM

Udenna Land delivers strong revenues for Dennis Uy's growing empire, but the coronavirus pandemic hurts prospects for 2020

Earnings crash: PAL suffers net loss of P9.4 billion in Q1 2020

Jun 05, 2020 - 9:05 PM

Philippine Airlines' passenger revenues fall 21.5%, as travel restrictions hurt the aviation industry

Lufthansa reports net loss of 2.1 billion euros in Q1 2020

Jun 03, 2020 - 9:25 PM

With 'very slow recovery' seen for global air traffic, Lufthansa says it must 'implement restructuring programs in all areas'

PARKED. Lufthansa planes in Frankfurt, Germany. File photo from Shutterstock

Brazilian Embraer loses $292 million during virus-infected quarter

Jun 02, 2020 - 11:00 AM

Embraer, the world's 3rd largest airplane manufacturer, is affected by the coronavirus pandemic and also by expenses incurred from a scrapped takeover by Boeing

Photo from Embraer's Facebook page

Nissan reports heavy losses, to shut Barcelona plant

May 28, 2020 - 10:15 PM

Nissan logs a net loss of 671.2 billion yen ($6.2 billion) for the fiscal year ending March 2020, and announces it is closing its Barcelona plant that employs 3,000 people

The logo of Nissan is covered by smoke columns as employees burn tyres in front of the Japanese cars manufacturer's plant in Barcelona on May 28, 2020, to they protest against the factory closure. - Japanese carmaker Nissan has decided to shut its factory in Barcelona where 3,000 people are employed, the Spanish government said today. (Photo by LLUIS GENE / AFP)

Jollibee reports net loss of P2.07 billion in Q1 2020 due to coronavirus

May 28, 2020 - 8:15 PM

Jollibee says it will incur even higher losses in the 2nd quarter. It is also slashing its capex by 63% and will be 'very selective' in opening new stores.

Norwegian Air Shuttle enters 'hibernation' to ride out virus crisis

May 28, 2020 - 5:00 PM

Norwegian Air Shuttle posts a loss of 3.28 billion kroner (302 million euros, $333 million) in the 1st quarter of 2020

RESCUE PLAN. A Norwegian Air plane. Photo from Shutterstock

Petron suffers net loss of P4.9 billion in Q1 2020 due to coronavirus

May 26, 2020 - 3:25 PM

Petron registers losses as the demand crunch in the oil market deepens during the coronavirus pandemic

Dubai investment arm's net profit rises in 2019

May 20, 2020 - 11:25 PM

The Investment Corporation of Dubai, which owns giant firms like Emirates Airline, posts a 16.9% increase in net profit in 2019

EMPTY. Dubai's Sheikh Zayed road is deserted during a curfew imposed by the authorities in a bid to slow down the spread of the novel coronavirus in the Emirati city on April 5, 2020. File photo by Karim Sahib/AFP

Marks & Spencer warns of virus impact as profits halve

May 20, 2020 - 10:30 PM

Marks & Spencer's net profit for the fiscal year ending March 28 collapses 49.5% to £27.4 million ($33 million, 30 million euros)

Panic buying boosts profits, tests supply chain at Walmart

May 19, 2020 - 11:55 PM

(UPDATED) Walmart's profits rise 3.9% to $4 billion in the 1st quarter, driven by its e-commerce business which surged amid the coronavirus pandemic

HIRING. A Walmart store in Las Vegas, Nevada. Photo from Shutterstock

Ryanair profit dives on virus, oil impact

May 18, 2020 - 11:45 PM

(UPDATED) Ryanair's profit including exceptional items sinks 27% to almost 649 million euros ($694 million) in the fiscal year ending March 2020

RYANAIR. Two of the airline's planes in Madrid, Spain. Photo from Shutterstock

Rappler Talk with Edward Snowden: Journalism’s role when global systems fail

May 18, 2020 - 5:39 PM

Whistleblower and President of the Freedom of the Press Foundation Edward Snowden talks about the rolling back of freedoms under pandemic emergency powers

Rappler Talk: Joseph Stiglitz on press freedom in a 'mafia market'

May 17, 2020 - 3:21 PM

Nobel Prize winner Joseph E. Stiglitz talks about how journalism and democracy can survive the information ecosystem created by the tech platforms

SM profits down 5% in Q1 2020 as it waives mall rent over virus

May 15, 2020 - 6:40 PM

SM Prime maintains its 2020 capex at P80 billion despite the coronavirus crisis

Trump calls on Senate to question Obama in conspiracy theory

May 15, 2020 - 12:00 PM

'The first person I would call to testify about the biggest political crime and scandal in the history of the USA, by FAR, is former President Obama,' Trump tweets

PRESIDENTS. President Donald Trump and former President Barack Obama talk on the East front steps of the US Capitol after inauguration ceremonies on January 20, 2017 in Washington, DC. Photo by Robyn Beck/AFP

Petrobras books steep loss amid 'worst crisis in 100 years'

May 15, 2020 - 10:35 AM

The earnings of Brazil's Petrobras in the 1st quarter of 2020 are down more than 1,300% compared to a year ago, as the coronavirus pandemic hits oil demand

CONTROVERSIAL. The headquarters of Brazil's state-owned oil company Petrobras in the center of Rio de Janeiro, on January 21, 2016. Vanderlei Almeida/AFP

Singapore Airlines reports nearly $150-million virus loss

May 14, 2020 - 8:20 PM

With the coronavirus pandemic paralyzing the aviation industry, Singapore Airlines suffers a net loss for the financial year that ended on March 31

DREAMLINER. File photo of Singapore Airlines (SIA) world's first Boeing 787-10 aircraft taxis to the terminal after its arrival from Boeing's production facility in North Charleston, South Carolina at Singapore Changi Airport on March 28, 2018.  Photo by Roslan Rahman/AFP

IEA says oil outlook improves 'somewhat' on easing virus lockdowns, output cuts

May 14, 2020 - 5:00 PM

Despite the improvement in the oil market, the International Energy Agency warns that 'major uncertainties remain'

OIL FACILITY. The Marathon Refinery is seen in Carson, California, on March 9, 2020. Photo by David McNew/AFP

Ayala Corp profits down 17% in Q1 2020 as pandemic batters economy

May 14, 2020 - 1:55 PM

'This unprecedented health crisis has resulted in a radical transformation of societies, economies, and businesses, including the Ayala group,' says Ayala president and COO Fernando Zobel de Ayala

China tech giant Tencent's net profit jumps during pandemic

May 13, 2020 - 7:59 PM

Tencent, one of the largest listed companies on the Hong Kong stock exchange, says net profit rose 29% from a year earlier to 28 billion yuan, or $3.95 billion

NCRPO restricts Rappler coverage after story on Sinas birthday party

May 13, 2020 - 6:42 PM

Rappler condemns the move as an attack on press freedom, the right to free speech, and the public's right to know

U.S. judge stalls effort to drop case against ex-Trump aide Flynn

May 13, 2020 - 10:51 AM

'The parallels and the contrasts between the Watergate affair and the present situation now before this Court are striking,' says a group dubbing itself the 'Watergate Prosecutors'

STALLED. Lt. Gen. Michael Flynn arrives for a meeting with US President Donald Trump at Trump Tower in New York in 2016. Photo by Timothy A. Clary/AFP

Allianz profit slumps on virus impact

May 12, 2020 - 9:15 PM

Like other insurers, Allianz is facing a flood of payouts over events that have had to be canceled or scaled down because of lockdowns

ALLIANZ. The company's building in Singapore. Photo from Shutterstock

Thyssenkrupp losses deepen on virus woes

May 12, 2020 - 9:00 PM

German conglomerate Thyssenkrupp reports a net loss of 948 million euros ($1.02 billion) in January-March 2020

Saudi Aramco tips difficult 2020 as crisis hits quarterly profits

May 12, 2020 - 7:05 PM

(UPDATED) Saudi Aramco – the world's largest listed firm – posts a net profit of $16.66 billion in the 1st quarter of 2020, lower than $22.2 billion a year ago

SAUDI ARAMCO. Investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in Riyadh on January 25, 2016. File photo by Fayez Nureldine/AFP

Coronavirus, Taal eruption sink Ayala Land profits 41% in Q1 2020

May 11, 2020 - 10:35 AM

Ayala Land also slashes its capital expenditures by P40 billion due to the coronavirus crisis


Emirates predicts 18-month lull in air demand

May 10, 2020 - 5:30 PM

Emirates posts 1.1 billion dirhams ($288 million) in net profit for the financial year ending March 2020, but it notes the severe impact of the coronavirus pandemic on the aviation industry

DEPARTURE. Mask-clad passengers bound for Frankfurt walk past check-in counters at Dubai International Airport on April 6, 2020. Photo by Karim Sahib/AFP

Dutch bank ING posts steep plunge in Q1 2020 net profit

May 08, 2020 - 10:10 PM

ING's net profit falls by 40.1% in January-March 2020 to 670 million euros ($724 million)

ING. The bank's logo illuminated in Amsterdam, the Netherlands. Photo from Shutterstock

Coronavirus sinks ICTSI's profits by 18% in Q1 2020, cuts capex by 60%

May 08, 2020 - 3:35 PM

ICTSI's profits drop as the coronavirus pandemic cripples global trade

Puma wins Germany loan worth 625 million euros

May 07, 2020 - 7:40 PM

Sportswear company Puma announces the loan as it posts a 61.6% drop in net profit in the 1st quarter of 2020

PUMA. A store sign of the shoe company in Munich, Bavaria, Germany. Photo from Shutterstock

For the first time, MPIC quarterly earnings fall, capex halved

May 07, 2020 - 6:30 PM

Despite the harsh earnings dip in the 1st quarter of 2020, Metro Pacific Investments Corporation chairman Manny Pangilinan says workers' welfare comes first over profitability

British Airways parent dives into huge quarterly loss

May 07, 2020 - 4:35 PM

International Airlines Group posts a net loss of 1.68 billion euros ($1.8 billion) in the 1st quarter of 2020

BRITISH AIRWAYS. An aircraft of the airline parked in Frankfurt, Germany. Photo from Shutterstock

PLDT slashes capex by P20 billion in 2020, virus delays 5G rollout

May 07, 2020 - 3:45 PM

PLDT mobile revenues jump 40% as people stay at home, but the company posts lower earnings due to higher expenses in the 1st quarter of 2020


General Motors profits dive, aims to reopen U.S. plants May 18

May 07, 2020 - 6:45 AM

United States auto giant General Motors reports that earnings plunged 86% to $294 million in the 1st quarter of 2020

ASSEMBLY LINE. General Motors vehicles go through the assembly line at the General Motors Lansing Delta Township Assembly Plant in Lansing, Michigan, on February 21, 2020. File photo by Bill Pugliano/Getty Images/AFP

Barbie maker Mattel reports big loss on weak sales

May 06, 2020 - 10:15 AM

Mattel suffers a $210.7-million loss in the 1st quarter of 2020 as coronavirus shutdowns hurt toy sales

60 YEARS YOUNG. With continuous global sales and a strong social media presence, the iconic doll, who turns 60 soon, isn't slowing down. Photo from Barbie's Twitter account