Latest Corporate News
Stock Futures Climb on Hopes of Iran Conflict Ending
U.S. stock futures rose as President Trump stated military forces may leave Iran in two to three weeks, shifting Strait of Hormuz responsibility. Markets rallied worldwide, with S&P 500 up 2.9% Tuesday marking its best day since May; oil prices declined from peaks.
A presidential address is scheduled for Wednesday evening.
Lopez Clan Power Shift: Federico Lopez Ousted as CEO
A Gabby Lopez-led group removed Federico Lopez as president and CEO of Lopez Incorporated amid allegations of billions in questionable transactions. Shareholders representing 71% cited loss of trust in the decision.
This signals deeper internal realignments in the Philippine business family.
U.S. Gas Prices Hit $4.01/Gallon Amid Iran War
Average U.S. gas prices surpassed $4 per gallon for the first time since 2022, up 35% since the war began on February 28. Higher fuel costs are expected to raise grocery prices due to increased transportation expenses.
South Africa announced a one-month gas tax reduction in response.
Asian Markets Surge on De-Escalation Optimism
South Korea's Kospi jumped 8.1% to 5,461.51, Japan's Nikkei 225 gained 4.5% to 53,352.96 following Wall Street gains. Optimism stems from Iran's ceasefire willingness and Trump's withdrawal timeline.
Improved Japanese business sentiment also supported the rally.
Hotel 101 Global Raises $300M for International Expansion
Philippine firm Hotel 101 Global launched a Series A perpetual preferred share offering in the U.S. to fund global projects. The capital will support an asset-light prop tech model and 2,300 new hotel rooms this year.
This accelerates its shift beyond domestic markets.
GT Capital Takes Stake in Uniqlo's Southeast Asia Warehouse
GT Capital Holdings acquired a 20% stake in Federal Land NRE Global to develop River Park North, hosting Southeast Asia's largest Uniqlo warehouse on 3.5 hectares. The facility boosts logistics in the Philippines.
It aligns with regional expansion trends.
Trump Signs Executive Order Against Mail-In Voting
President Trump issued an order directing a crackdown on mail-in voting practices. This aims to tighten election procedures amid ongoing political debates.
It follows recent customs progress on $166B tariff refunds.
Philippine Peso Hits Record Low Near 60.75
The peso opened at 60.50 after reaching a record low yesterday, amid currency volatility. Markets remain on edge from global uncertainties including the Iran conflict.
This impacts local businesses and trade.
Iran Retaliatory Attacks Target Gulf Neighbors
UAE intercepted aerial threats over Dubai as Iran targets Gulf states amid the conflict. Brent crude spiked to $113/barrel due to Strait of Hormuz tensions.
Oil prices continue soaring, pressuring global economies.
Justice Department Recovers 600M Pesos in Flood Funds
Over 600 million pesos in flood control funds have been returned, highlighting accountability efforts. This comes amid Philippine economic strains from currency woes.
It renews focus on governance in public spending.
Brazil's Lula Announces Re-Election Bid with Alckmin
President Lula, 80, will run for a fourth non-consecutive term alongside VP Geraldo Alckmin in this year's election. Concerns over his age persist after prior terms from 2003-2011 and 2023 return.
This shapes Latin American politics.
U.S. Customs Advances $166B Tariff Refund Mechanism
Progress made on processing $166 billion in tariff refunds after Supreme Court invalidated parts of Trump's global tariffs. This follows the Iran war's economic ripples.
It aids businesses hit by prior trade policies.