00:57.6
...in positive territory, a day after the benchmark index snapped its longest winning streak in five months.
01:06.2
Now here are some stocks to watch out for.
01:09.0
We're monitoring shares of GameStop and AMC, which surged after Roaring Kitty, the man at the center of the meme stock craze, posted online for the first time in roughly three years.
01:21.7
GameStop shares skyrocketed 56%.
01:25.4
While AMCs are up 50%.
01:27.9
Also, in Focus shares of Delivery Hero, that's 2022!
01:30.7
After Uber reached an agreement with a German food delivery firm to take over its food panda business in Taiwan for $950 million.
01:44.0
Delivery Hero shares gained 21% on that news.
01:47.2
We're also keeping a close watch on shares of Anglo American, which is exploring options-offloaded steelmaking, coal, nickel, diamonds, and platinum businesses for yet another $25 million deal.
01:57.6
as it tries to fend off a takeover bid from the world's largest miner, the BHP Group.
02:04.1
Anglo-American shares last traded in the red, down by 2%.
02:08.0
Meanwhile, Asian markets see another day of mixed trading ahead of the U.S. inflation reports.
02:15.2
Japan's Nikkei 225 closed higher by half a percent
02:18.7
while the Hong Kong Hang Seng Index shed a fifth of a percent.
02:22.3
Here at home, Philippine shares barely managed to extend its rally for a second day
02:28.1
with the main index closing flat.
02:52.3
A notable stock movement in the region?
03:12.9
Shares of Apple supplier Foxconn rose 1.5% in Tuesday trade.
03:18.5
That's after the world's largest contract electronics maker reported
03:22.2
it's a trade that's going to be a big hit.
03:22.3
A 72% jump in its first quarter profit.
03:27.5
U.S. President Joe Biden unveils a bundle of steep tariff hikes
03:31.6
on various Chinese imports, including e-vehicles.
03:35.7
The sweeping measure will affect $18 billion worth of Chinese imported goods.
03:41.6
Starting this year, the U.S. will quadruple tariffs on Chinese e-vehicles
03:49.6
Levies on solar cells will double from 25%.
03:52.3
While import taxes on steel and aluminum will go up 25%.
03:59.3
For 2025, levies on Chinese semiconductors will double to 50%.
04:04.3
The White House says this is in response to China's unfair trade practices
04:09.2
which have flooded global markets with artificially low-priced exports.
04:15.3
It adds the hikes are needed to protect American businesses and workers.
04:19.2
China, for its part, said it will take all necessary measures to protect its workers.
04:21.7
China, for its part, said it will take all necessary measures to protect its workers.
04:21.7
China, for its part, said it will take all necessary measures to protect its workers.
04:22.3
China, for its part, said it will take all necessary measures to safeguard its interests.
04:26.2
Now back here at home, South Korean shipbuilder H.D. Hyundai
04:29.8
expanding its operations here in the Philippines.
04:33.1
It signed a lease agreement with U.S. investment firm Cerberus,
04:37.0
which acquired the Aguila-Subic shipyard in 2022
04:40.1
to use a dry docks there for its shipbuilding business.
04:44.4
President Ferdinand Marcos Jr., who witnessed the signing, says
04:47.4
the deal will help the country realize its vision
04:50.2
to be among the largest shipbuilders in the world.
04:52.3
to be among the largest shipbuilders in the world.
04:54.2
He also hopes it will cement Subic as an economic growth driver.
04:58.0
He also hopes it will cement Subic as an economic growth driver.
04:58.1
The investments that will be created hereafter
05:03.5
are especially beneficial to Subic
05:06.0
because these will strengthen the Freeport area's vital role
05:10.0
as a hotspot for industrial, commercial, and other economic activities.
05:16.0
The Subic Freeport Zone is one of the most developed
05:19.2
and sought-after investment areas in this country.
05:22.3
But it can be greater than what it is
05:25.0
with the right investment
05:26.3
and with the right innovative projects and approach.
05:31.6
The president also urged ADHD Hyundai
05:34.9
to partner with Philippine government institutions
05:37.3
to upskill and reskill the Filipino workforce
05:40.9
in the shipbuilding industry.
05:44.0
Now here are some local corporate headlines.
05:46.6
The Ayala Corporation posts a 26% jump
05:50.3
in its first quarter net income.
05:52.3
The stronger performance was driven by growth
05:54.8
in its core businesses such as banking, real estate, and energy.
05:59.7
Its telco business, Globe, saw earnings slip
06:02.6
despite slightly higher revenues
06:04.6
due to higher depreciation expenses
06:07.3
and non-operating charges.
06:10.6
In the F&B sector, Jollibee's net income grew 23%
06:14.5
in Q1 to 2.7 billion pesos.
06:17.6
Its revenues and system-wide sales
06:20.0
are also higher on volume growth,
06:22.3
and contribution from its new stores.
06:25.8
As for Enrique Rezon's Bloomberg,
06:28.2
its bottom line slipped to 2.6 billion pesos.
06:32.4
The Solera operator's revenue is also down
06:35.0
as VIP rolling chip volume and mass table drop
06:38.9
posted declines in the first quarter.
06:42.8
And finally, NickelAsia extends its bleeding
06:45.8
into the new year.
06:47.0
Its first quarter bottom line dropped nearly 80%
06:50.2
to just 202 million pesos.
06:52.3
The company says an oversupply in the nickel sector
06:55.8
led to lower ore prices.
06:59.8
We're taking a quick break.
07:00.8
Up next, a look at OpenAI's new AI assistant, GPT-40.
07:16.8
Artificial intelligence darling OpenAI
07:18.8
launches a new AI model.
07:22.3
GPT-40 is now capable of realistic voice conversation
07:26.5
where users can obtain real-time responses with no delay.
07:30.6
During the launch Monday, OpenAI researchers used ChatGPT-40
07:34.9
to analyze data on a graph,
07:37.3
provide real-time language translations,
07:40.2
and coach through a math equation.
07:46.0
Okay, so ChatGPT, this is what I ended up with.
07:48.5
How does this look?
07:52.3
We isolated the term with x on one side
07:54.5
and it looks like 3x equals 3.
07:57.5
What do you think we should do next to solve for x?
08:00.6
I'm not sure. Can you give me another hint?
08:04.8
You have 3x and you want to find the value of x.
08:08.8
Think about what operation would undo multiplication.
08:15.0
France scores a record 15 billion euros
08:17.7
or 16.2 billion US dollars in foreign investment pledges
08:21.3
from its Choose France event.
08:23.6
This year's figure is up from the 13 billion euros announced last year.
08:28.7
Pledges include those from US tech giants Microsoft and Amazon,
08:33.4
which earlier announced billions of dollars in investments
08:36.0
in France's artificial intelligence sector.
08:38.9
French President Emmanuel Macron, however, notes
08:41.5
a new business model needs to rise in Europe
08:44.6
amid a changing investment landscape.
08:47.3
We had a business model that was a little bit different.
08:48.5
We had a business model that was a little bit different.
08:49.5
We had a business model that was a little bit different.
08:51.3
We had a business model based on cheap energy coming from Russia,
08:57.3
a great market for our exports called China,
09:01.2
and a geopolitical umbrella with the US.
09:05.4
These pillars of the European model are over.
09:09.4
War is in Europe with a lot of uncertainties.
09:13.1
WTO rules are no more respected by the two big guys in the room.
09:17.8
Both China and the US are not compliant with WTO.
09:20.7
Both China and the US are not compliant with WTO.
09:21.3
Both China and the US are not compliant with WTO.
09:25.0
And, it doesn't work to have a business model based on ancient rules
09:31.2
and to be the only one to be compliant with the global regulation.
09:35.4
So, this is a wake-up call for the Europeans.
09:42.3
Melinda Gates saying goodbye to the material foundation
09:45.5
she founded with ex-husband Bill Gates more than 20 years ago.
09:49.0
In a social media post, she said it was..
09:51.3
It was not a decision she made lightly, though she did not state the reason why she was stepping down as co-chair of the Bill and Melinda Gates Foundation.
10:00.2
The former power couple filed for divorce in 2021 after 27 years of marriage,
10:05.5
but had pledged to continue their work in one of the world's biggest private charitable foundations.
10:12.2
The foundation has spent more than $50 billion over the past two decades,
10:16.9
bringing a business approach to combating poverty and disease.
10:21.7
In his own social media post, the Microsoft founder said he's sorry to see Melinda leave,
10:27.2
calling her instrumental in shaping the foundation's strategies and initiatives.
10:33.6
Philippine Senators reject the Agriculture Department's call to re-empower the National Food Authority to import rice.
10:41.1
RG Cruz with the full story.
10:45.0
The Department of Agriculture told senators on Tuesday that it needs to intervene on the price of rice now,
10:51.5
The Department of Agriculture said it needs to intervene on the price of rice now,
10:52.0
seeking to re-empower the National Food Authority to import and sell rice.
10:56.7
Like now, we think there's a price, 55 to 60 is the price.
11:03.3
The import cost should be 49, 48.
11:07.3
So it should be 51, 52.
11:11.3
We need to follow that.
11:13.1
If we compete with the international price now,
11:16.0
and the retail price,
11:18.7
there's a little bit,
11:21.3
it looks like we need to pay attention to keep the traders honest.
11:30.7
During several instances during the year.
11:35.2
Secretary Laurel was facing the Senate panel of the Congressional Oversight Committee on Agricultural and Fisheries Modernization,
11:41.8
which was reviewing the rice tarification law.
11:44.0
But senators don't want the National Food Authority to be in charge of such a power.
11:48.7
If the President of the Philippines wants,
11:51.3
He doesn't have the power, but not to NFA.
11:55.7
That's why we have a very bad experience in the NFA.
11:59.7
There's no trust in anyone who will legislate here in the Senate,
12:04.5
and the same goes for the farmers.
12:06.8
As long as the NFA knows,
12:10.4
there's a problem.
12:12.5
Their recent NFA's checkered history,
12:15.0
Senator Marcos cites the case of 139 NFA employees
12:18.1
who were placed under preventive suspension in March
12:20.4
because of the fact that they were not able to get a job.
12:21.1
Because of the fact that they were not able to get a job.
12:21.3
The allegedly unauthorized sale of the agency's buffer stocks
12:24.3
to three commercial rice traders.
12:26.5
72 of the 139 employees were allowed to return to work recently.
12:30.9
An earlier batch of 23 were also removed from preventive suspension.
12:35.0
But agriculture group SINAG insists
12:36.9
the high price of rice has nothing to do
12:38.7
with the rice tarification law.
12:41.3
Yung global price na nakikita natin
12:43.9
between P580 to P630.
12:47.5
So, hindi lang dito sa local
12:50.4
So, hindi lang dito sa local ang to-go price.
12:50.4
So, hindi lang dito sa local ang to-go price.
12:50.4
So, hindi lang dito sa local ang to-go price.
12:51.1
So, hindi lang dito sa local ang to-go price.
12:51.3
So, hindi lang dito sa local ang to-go price.
12:55.7
So, hindi lang dito sa local ang to-go price.
12:56.2
So, hindi lang dito sa local ang to-go price.
12:56.4
So, hindi lang dito sa local ang to-go price.
12:57.0
Hindi dahil sa RCEP,
13:02.2
kaya nagkaroon ng mataas na presyo
13:04.9
dahil sa world market price
13:12.0
tumaas yung presyo.
13:13.7
Senator Aimee Marcos,
13:15.0
vice chair of the Senate Committee on Agriculture, agrees.
13:18.6
why amendments to the rice tarification
13:20.9
The House of Representatives has approved and second reading its version of the bill which seeks to amend the rice verification law.
13:40.7
During the interpolation, Gabriela, part of its representative Arlene Bros, has raised the failure of the RTL to fulfill its promise to lower rice prices.
13:48.6
But Agriculture Committee Chair Mark Envergues said the measure helped increase rice production.
13:53.8
It's just that the gains were offset by higher demand due to the increasing population.
14:18.6
The House intends to pass the bill on third and final reading next week before it adjourns.
14:46.3
On Monday, the U.S. Department of Agriculture said,
14:48.8
the Philippines is projected to be the world's top importer of rice again in 2025.
14:53.5
RG Cruz, ABS-CBN News.
14:57.8
The Asian Development Iksa deal with the foundation of Filipino-American musician Apple Diap to electrify the Philippine transport sector.
15:05.7
Alan Pineda, also known as Apple Diap, says his center of excellence will be giving resources to upskill the Philippine workforce in electrification.
15:14.0
The ADB adds the deal is part of their vision of promoting strategies for,
15:18.6
decarbonizing the transport sector.
15:21.6
Last March, Pineda signed another agreement with the ADB for an e-mobility education and training program for the Filipino youth.
15:30.8
Education and training is a crucial part in uplifting, uplifting people,
15:43.7
and as well as being a part of the development of the Philippine economy.
15:47.7
We're a part of this new industry, you know, this new electrification.
15:52.2
We're hoping to save some of the jeepneys in the Philippines and retrofitting, you know, turning electric jeepneys to water vehicles to protect the water and the sea in the Philippines.
16:11.8
We're going to need to upskill and get the people ready.
16:17.7
For this new industry and electrification.
16:22.7
The Presidential Anti-Organized Crime Commission raids an unlicensed medical facility for workers in Philippine offshore gaming operators in Pasay City Monday.
16:33.4
Several Vietnamese and Chinese nationals were arrested.
16:37.1
According to the commission's executive director, Gilbert Cruz, the clinic did not have a license to operate.
16:43.8
Medicines that did not have FDA approval were also being used.
16:47.7
They were also being sold in the establishment.
16:50.1
Cruz says they're still identifying the owner and operator of the clinic.
16:56.1
That's the danger of having this kind of clinic because they can treat injured or gunshot wounds from any person, not only Pogo workers.
17:10.1
Because in instances that you have gunshot incidents or gun shooting incidents,
17:16.9
you need to report that.
17:17.7
So the crime that was committed will be addressed.
17:23.8
But in this case, there is no, practically there is no reporting of crime commission and commission of crimes.
17:30.6
And the medical practitioners who are doing that treatment are not authorized to practice their medical skills.
17:41.8
Meanwhile, 167 Chinese nationals who were arrested for illegally working in a Pogo hub.
17:47.7
In Banban, Tarlac, have been deported.
17:50.5
They were escorted by Philippine authorities as they boarded a flight back to Shanghai, China.
17:56.1
All of them will be included in the immigration blacklist to prevent them from re-entering the Philippines.
18:03.0
The European Union calls for collective action to address environmental woes in the Philippines.
18:08.7
Officials of the regional bloc's delegation to Manila identified solid waste management and proper use of natural resources
18:16.0
as the main challenge for the Philippines.
18:17.7
The EU previously announced a new program in the Philippines to help it transition into a sustainable economy.
18:26.3
Under this, EU representatives will work with government agencies and businesses to promote sustainable practices.
18:34.8
The climate challenge is a global challenge which can only be tackled by all economies together.
18:42.9
And therefore, the green...
18:47.7
...element, sustainability element has become a key point in all our activities, economic activities, economic relations with our partner countries.
19:00.1
It's about enhancing circular economy.
19:03.5
I think that the starting point is that we in Europe have introduced the Green Deal.
19:08.0
And the Green Deal is about becoming carbon neutral and introducing circular economic models.
19:13.9
So, in other words, decoupling growth from...
19:17.7
...natural resource inputs.
19:22.1
And before we go, here's what we can expect on Market Edge tomorrow at 9 a.m.
19:26.5
Sandy Palisada will be talking to Moody's analytics senior economist Katrina L.
19:31.5
ahead of the Philippine Central Bank's latest policy meeting.
19:35.0
They will also be tackling Philippine inflation and economic growth.
19:39.3
And the president of AAA Equities, Matthew Cabangon, will be giving his insights on the market.
19:46.4
That's your Business Outlook.
19:48.5
So, World Tonight comes your way at the top of the next hour.
19:51.2
Keep it here on ANC.
19:52.8
We'll be right back.
