The business landscape is constantly evolving, and it’s crucial for entrepreneurs and business leaders to stay up-to-date with the latest news and trends. In the Philippines, ‘24 Oras’ is a leading source of business news that covers various industries and sectors. Let’s dive into some of the most noteworthy stories from today’s top 24 Oras business news.
1. Philippine economic growth improves in Q2 2021
The Philippine economy grew by 11.8% in Q2 2021 compared to the same period in 2020, the latest data from the Philippine Statistics Authority shows. This is a significant improvement from the 4.2% contraction in Q1 2021. The growth was mainly driven by the easing of quarantine restrictions and increased government spending.
2. Risks to Philippine economy remain
Despite the positive economic growth data, several risks still loom over the Philippine economy. One of the main risks is the threat of the Delta variant, which could lead to stricter quarantine measures and negatively impact businesses. Another risk is the potential rise in inflation, which could erode consumers’ purchasing power.
3. E-commerce continues to grow in the Philippines
With the pandemic’s impact on traditional retail, e-commerce has seen a surge in demand in the Philippines. Several companies have reported strong growth in their e-commerce sales, including fast-food giant Jollibee and online retailer Lazada. However, the industry is also facing challenges, such as logistics and fulfillment issues.
4. US stocks hit record highs despite pandemic concerns
U.S. stocks have reached all-time highs, with the S&P 500 and Nasdaq Composite both hitting new records. This is despite continued concerns about the pandemic’s impact on economic recovery and rising inflation. The strong performance is attributed to the earnings reports of several major tech companies, including Apple and Microsoft.
5. Facebook faces criticism over whistleblower’s allegations
Recently, a whistleblower testified that Facebook prioritizes profits over user safety, allowing harmful content to spread on the platform. This has caused widespread concern and criticism, including calls for increased government regulation. Facebook has denied the allegations, stating that they take safety and privacy seriously.
In conclusion, staying informed about the latest business news is essential for any entrepreneur or business leader. From economic growth to e-commerce trends to major corporate developments, today’s top 24 Oras business news offers valuable insights into the current business landscape. However, it’s important to keep in mind the potential risks and challenges that could impact the economy and individual businesses. By staying informed and proactive, businesses can navigate these turbulent times and emerge stronger.
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