The Philippines is uniquely exposed to the surging oil price caused by the war in the Middle East. The government is facing protests and widespread anger Jayson Naga is a tricycle taxi driver on the streets of Manila. In a normal day he brings home P500 (US$8) to feed his four children. But these days he is struggling. He requires four litres of gasoline a day to ferry his passengers around the ci...
The Philippines is uniquely exposed to the surging oil price caused by the war in the Middle East. The government is facing protests and widespread anger Jayson Naga is a tricycle taxi driver on the streets of Manila. In a normal day he brings home P500 (US$8) to feed his four children. But these days he is struggling. He requires four litres of gasoline a day to ferry his passengers around the city and the 60% surge in fuel prices has wiped out nearly a third of his take home pay. “If gas prices go up any further, there will be nothing left for us,” he told the Guardian. His family’s only luxury – driving to air-conditioned malls on weekends to escape the heat – was the first to go. Continue reading...
Donnelley Financial Solutions (NYSE:DFIN) President Eric J Johnson reported a direct sale of 20,280 shares on March 6, 2026, as disclosed in the SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($50.16). * 1-year price change calculated using March 27, 2026 as the reference date. Continue reading
Donnelley Financial Solutions (NYSE:DFIN) President Eric J Johnson reported a direct sale of 20,280 shares on March 6, 2026, as disclosed in the SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($50.16). * 1-year price change calculated using March 27, 2026 as the reference date. Continue reading
The ranking members of the Senate Commerce Committee questioned the head of the Federal Communications Commission in a Monday letter, criticizing his approval of Nexstar Media Group Inc. ’s merger with Tegna Inc. without a vote of the full commission. Senator Ted Cruz , a Texas Republican, and Senator Maria Cantwell , a Washington Democrat, jointly told FCC Chairman Brendan Carr that he improperly...
The ranking members of the Senate Commerce Committee questioned the head of the Federal Communications Commission in a Monday letter, criticizing his approval of Nexstar Media Group Inc. ’s merger with Tegna Inc. without a vote of the full commission. Senator Ted Cruz , a Texas Republican, and Senator Maria Cantwell , a Washington Democrat, jointly told FCC Chairman Brendan Carr that he improperly allowed agency staff to green-light the merger even though it involved waiving major anti-consolidation rules, according to a copy of the letter reviewed by Bloomberg. Significant questions of policy must be addressed by the full FCC in a vote, the senators said. The letter pointed out that Carr himself previously criticized deals that were approved on the staff level. Carr recently said the full commission could later address the Nexstar-Tegna deal, but Cruz and Cantwell said it’s likely too late for that. “The Commission has already approved the transaction on delegated authority, effectively determining the outcome,” the letter said. “Under these circumstances, any subsequent vote risks being largely procedural rather than a genuine exercise of commission responsibility.” The FCC’s Media Bureau approved Nexstar and Tegna’s $3.5 billion merger on March 19. Under waivers of the FCC’s rules, the combined companies will be allowed to broadcast to a majority of US households and to own more local stations than is otherwise permissible. Pay-TV provider DirecTV and a number of state attorneys general sued to stop the merger on antitrust grounds, and a federal judge ruled on March 27 that the companies must pause their integration. Cruz and Cantwell wrote that the staff-level approval added another layer of complication. They noted that, because bureau-level decisions aren’t final orders, the involved parties must first seek commission review before involving the courts. “In a transaction of this scale, where integration proceeds quickly and unwinding becomes impractical, delay...
Photo: IC Photo BOC Hong Kong (Holdings) Ltd. is working with regulators to upgrade the city’s digital yuan wallets following the mainland’s move to allow interest on the currency, a shift that could accelerate its use offshore. BOC Hong Kong, the largest offshore operator of the digital yuan, is in close communication with Hong Kong authorities and the People’s Bank of China (PBOC) on the upgrade...
Photo: IC Photo BOC Hong Kong (Holdings) Ltd. is working with regulators to upgrade the city’s digital yuan wallets following the mainland’s move to allow interest on the currency, a shift that could accelerate its use offshore. BOC Hong Kong, the largest offshore operator of the digital yuan, is in close communication with Hong Kong authorities and the People’s Bank of China (PBOC) on the upgrade, Xing Guiwei, a deputy chief executive, told Caixin. Officials are exploring raising wallet limits and expanding use cases, though no timeline has been set, according to Xing.
Aluminum headed for the biggest monthly gain in nearly two years, as the war in the Middle East disrupted supplies and damaged local production facilities, tightening the global market. The light-weight metal advanced toward $3,500 a ton in London, on course for a monthly gain of 10%. That’s the most since April 2024, and bucks a broader downtrend for metals in March. Commodities including base me...
Aluminum headed for the biggest monthly gain in nearly two years, as the war in the Middle East disrupted supplies and damaged local production facilities, tightening the global market. The light-weight metal advanced toward $3,500 a ton in London, on course for a monthly gain of 10%. That’s the most since April 2024, and bucks a broader downtrend for metals in March. Commodities including base metals have been roiled by the conflict between the US, Israel and Iran. Around a tenth of aluminum’s global production is concentrated in the Persian Gulf, with exports choked off by the closure of the Strait of Hormuz. In addition, Iranian drones and missiles have struck plants run by Aluminium Bahrain BSC and Emirates Global Aluminium PJSC . While both companies have yet to clarify the precise damage to their facilities, there’s speculation on the impact and consequences for market balances. EGA’s Al-Taweelah plant, with capacity of 1.6 million tons a year, can be written off for the long term, analyst Bernard Dadhah at Natixis SA wrote in a note. That could flip the market from a supply surplus of 200,000 tons to a deficit of about 1.3 million tons next year, he wrote, warning of a more severe shortfall if the Bahrain plant had also suffered long-term damage. Read More: Iran’s Attacks on Gulf Aluminum Plants Threaten Supply Crisis Most other metals were flat to slightly higher on Tuesday after the Wall Street Journal reported that US President Donald Trump told aides he’s willing to end the US campaign even if the Strait of Hormuz remained largely closed. Still, copper, zinc and nickel are still heading for monthly declines as the war lifts energy costs and prompts warnings about global economic growth. The hostilities in the Middle East have had the greatest direct impact on aluminum because of the region’s role as a major source of primary metal, nearly all of which is exported. The disruptions have sent premiums soaring in other locations, including Japan, while prompt...