December 6, 2023
INTEGRATED Micro-Electronics Inc. (IMI), the manufacturing arm of AC Industrial Technology Holdings Inc., posted a $1.6-million (around P89.6-million) loss in the third quarter (Q3), reversing from a year-earlier profit of $350 million (P19.6 billion). The firm said that this was due to losses from STI Ltd. that it still booked while working on a divestment
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THE current economic downturn has caused changes in spending habits, attitudes and actions for 84 percent of Filipinos who work part-time, as reported by Agile Data Solutions Inc. “We see an increasing number of Filipinos, particularly the younger generation, seeking part-time employment as a means to bolster their income and attain financial stability,” said Jason
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Receive free Eurozone economy updates We’ll send you a myFT Daily Digest email rounding up the latest Eurozone economy news every morning. Eurozone businesses were hit by the biggest fall in new orders for almost three years, as price pressures cooled and demand for hiring new staff remained weak, increasing fears of an economic contraction
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In contrast to the July WSJ survey, the just-released Survey of Professional Forecasters mean forecast shows no negative GDP growth. Figure 1: GDP (bold black), August SPF (red), July WSJ survey (pink), CBO projection (teal), World Economic Outlook (orange square), all in bn. Ch.2012$ SAAR. Source: BEA, Philadelphia Fed, WSJ survey, July CBO Economic Outlook
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BRUSSELS: Economic activity in the eurozone contracted at its fastest rate in eight months in July as the contraction gained momentum amid production cuts, a key report on Monday said. S&P Global’s HCOB Flash Purchasing Managers’ Index (PMI) data fell to 48.9 in July from 49.9 in June. A number above 50 indicates growth. “Manufacturing
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Get Free Eurozone Economy Updates We will send you myFT Daily Digest email summarizing the latest eurozone economy news every morning. The recession in the eurozone deepened early in the third quarter, according to a closely monitored business survey that showed the region’s economy is shrinking. The euro area’s HCOB Composite Purchasing Managers’ Index, which
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Advertising Take an article about the anti-corruption campaign in Vietnam, and it’s likely to be called a “burning furnace.” It is the creation of its architect, Communist Party leader Nguyen Phu Trong. But listen to something else said recentlythat one must be careful to “kill the mouse but not break the vase”. The first conjures
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FRANKFURT: Industrial production in Germany fell unexpectedly in May, official data showed on Friday, heightening fears of a prolonged downturn in Europe’s leading economy. Manufacturing output fell 0.2 percent from the previous month, seasonally adjusted data from federal statistical agency Destatis showed. Analysts polled by financial data firm FactSet had expected the figure to remain
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Worldwide deliveries smart home devices fell 5.6% (year on year) to 186 million units in the first quarter (Q1) of this year. Smart speakers And network video entertainment devices According to the International Data Corporation (IDC), the first quarter saw the sharpest drop, down 15.4% and 7.8%, respectively, from the previous year. The overall market
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Chancellor Jeremy Hunt vowed on Wednesday to squeeze “every last drop of high inflation” out of the economy, but the arduous task could deal a major blow to the Conservative Party’s strategy in the 2024 general election. Hunt is being pressured by Conservative MPs for a massive tax cut in next spring’s budget, signaling to
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