Category: Business

Business

Deutsche Bank Pushes Ahead With Major Tech Overhaul After Postbank Setbacks

FRANKFURT — Deutsche Bank is stepping up its effort to modernise its retail banking technology, marking a key milestone in a multi-year overhaul aimed at replacing decades of complex legacy systems — and preventing a repeat of the costly technology failures that frustrated customers in the past. Germany's largest lender said it has selected a new core banking platform as part of plans to dramatically simplify its technology infrastructure, reducing the number of core systems used in its retail

August 27, 2026

Business

PAL Is Adding Daily Manila–Melbourne Flights This November—Here’s What Changes for Filipino Travelers

Philippine Airlines (PAL) is ramping up its Australia operations, announcing that flights between Manila and Melbourne will become daily starting November 19, 2026, giving travelers more options ahead of the busy year-end holiday season. The flag carrier currently operates five flights per week on the Manila–Melbourne route. The increase to seven weekly flights represents a significant boost in service and is expected to provide additional capacity for both passengers and cargo. New daily fli

August 27, 2026

Business

PCA Sets 25.3 Million Coconut Trees for 2026 as Philippines Races Toward 100 Million by 2028

MANILA, Philippines — The Philippine Coconut Authority (PCA) is targeting the planting of 25.3 million coconut trees in 2026 as the government accelerates a nationwide campaign to reach 100 million coconut trees by 2028. PCA Administrator and CEO Dexter Buted confirmed the 25.3-million target in an interview with reporters on August 26, saying the agency's planting program remains on track toward the government's long-term goal. The campaign is part of the government's broader effort to rehabi

August 27, 2026

Business

Water Suddenly Leaks Inside LRT-1 Train—Here’s What LRMC Says Happened

MANILA, Philippines — A video showing water leaking inside an LRT-1 train went viral online, prompting questions from commuters about what caused the unusual incident and whether it posed a safety concern. The Light Rail Manila Corporation (LRMC), which operates the Light Rail Transit Line 1, has since explained what happened and announced additional maintenance measures following the incident. According to LRMC, the water leak occurred inside one of its fourth-generation Light Rail Vehicles (

August 27, 2026

Business

US Dollar Near Eight-Day High as Hot Inflation Revives Fed Rate-Hike Bets

TOKYO — The US dollar is holding near an eight-day high after stronger-than-expected US inflation data reignited speculation that the Federal Reserve may not be finished raising interest rates, putting global currency markets on alert ahead of a crucial gathering of central bankers. The latest move underscores how quickly expectations can shift in global markets. Just weeks ago, investors had been reassessing the outlook for further US monetary tightening. Now, stubborn inflation and resilient

August 27, 2026

Business

BOJ Sounds the Alarm: Is Japan About to Raise Interest Rates Again?

TOKYO — Japan's central bank may be moving closer to another interest rate hike after Bank of Japan Deputy Governor Ryozo Himino warned that policymakers must act in a timely manner to prevent inflation from accelerating beyond control. Speaking to business leaders on Thursday, Himino said delaying action against rising price pressures could ultimately force the Bank of Japan (BOJ) to impose sharper and more disruptive rate increases later. He stressed that policymakers should pay greater atten

August 27, 2026

Business

Iloilo City Turns 89th Charter Day Into Jobs, Free Healthcare Drive as Thousands Seek Opportunities

ILOILO CITY, Philippines — Iloilo City turned its 89th Charter Day celebration into a major public-service push, bringing employment opportunities and free healthcare closer to residents instead of focusing solely on ceremonies and festivities. The city’s August 25 celebration generated more than 15,000 job opportunities, while hundreds of senior citizens and persons with disabilities benefited from ongoing medical and dental missions held across several districts. The employment drive, organi

August 27, 2026

Business

Google DeepMind Hires Barret Zoph as AI Talent War Intensifies — And His Career Has Come Full Circle

Google DeepMind is bringing veteran artificial intelligence researcher Barret Zoph back into the Google fold, adding another twist to one of the most closely watched talent battles in the global AI industry. Zoph, a co-founder and former chief technology officer of Mira Murati’s Thinking Machines Lab, said he is joining Google DeepMind as vice president of research, according to Reuters. The appointment puts him inside Alphabet’s flagship AI organization at a moment when Google is reshaping Dee

August 27, 2026

Business

Trump Escalates Canada Trade War as Carney Hits Back With Dollar-for-Dollar Tariffs

WASHINGTON — The trade confrontation between the United States and Canada has entered a more dangerous phase after U.S. President Donald Trump sharply criticized America's northern neighbor and signaled that Washington has little intention of backing down from its escalating tariff campaign. Speaking in an interview on Wednesday, August 26, Trump declared that it was time to “teach Canada you can't do this anymore,” arguing that the United States could obtain most of what it needs from other co

August 27, 2026

Business

Oil Prices Extend Losses as Hormuz Talks Ease Supply Fears — But a New Fuel Warning Is Emerging

Oil prices fell again on Thursday, August 27, as fresh diplomatic efforts involving Iran, Oman and Qatar raised hopes that disruptions through the Strait of Hormuz could ease — but dangerously low diesel inventories and continuing Middle East tensions are keeping the global energy market on edge. Brent crude futures dropped 60 cents, or 0.7%, to $87.24 a barrel as of 0004 GMT, marking a fourth consecutive session of losses. U.S. West Texas Intermediate crude slipped 56 cents, also about 0.7%, t

August 27, 2026