The head of the Philippines’ flag carrier said the Southeast Asian country may need to resort to fuel rationing amid tight supplies due to the war in Iran. “We have countries saying, ‘we need to ration our fuel, we want people to tank fuel in and out.’ The reality is we’re going to have to do the same thing probably in the Philippines,” Philippine Airlines president Richard Nuttall said in an inte...
The head of the Philippines’ flag carrier said the Southeast Asian country may need to resort to fuel rationing amid tight supplies due to the war in Iran. “We have countries saying, ‘we need to ration our fuel, we want people to tank fuel in and out.’ The reality is we’re going to have to do the same thing probably in the Philippines,” Philippine Airlines president Richard Nuttall said in an interview on Wednesday. Speaking at the Aviation Festival Asia conference in Singapore, Nuttall said the...
Getty Images The war in the Middle East hit the UK economy in March, stalling growth while driving inflation sharply higher. Output growth across manufacturing and services has slowed to a crawl as companies blamed lost business directly on the events in the Middle East, whether through heightened risk aversion among customers, surging price pressures, higher interest rates, or via travel and supp...
Getty Images The war in the Middle East hit the UK economy in March, stalling growth while driving inflation sharply higher. Output growth across manufacturing and services has slowed to a crawl as companies blamed lost business directly on the events in the Middle East, whether through heightened risk aversion among customers, surging price pressures, higher interest rates, or via travel and supply chain disruptions. Inflationary pressures have surged higher on the back of rising energy prices and fractured supply chains. The acceleration in cost growth in the manufacturing sector was especially severe, being the sharpest since the depreciation of the sterling following Black Wednesday in 1992. The full impact on inflation and economic growth depends not just on the duration of the war but also on the length of disruptions to energy markets and shipping, though March’s PMI numbers clearly underscore how downside growth risks and upside inflation risks have already materialised. The Bank of England faces a challenging period where it will need to balance these growth and inflation risks when setting policy, seeking to dampen the potential for the inflation spike to become more engrained while ensuring a hawkish interest rate outlook does not exacerbate downturn risks. Business growth hit by war outbreak UK businesses reported a marked slowing of output growth in March as demand for goods and services fell for the first time since last November following the outbreak of war in the Middle East. The PMI headline Composite PMI Output Index has slumped from 53.7 in February to a six-month low of 51.0 in March, according to the preliminary ‘flash’ reading. The latest reading is broadly consistent with GDP growth stalling in March, albeit with a modest 0.2% quarterly rise indicated for the first quarter as a whole. Manufacturing output grew only marginally, posting its worst performance since production growth resumed five months ago, while service sector business activity...
MF3d OpenAI ( OPENAI ) is raising an additional $10 billion from investors as part of its historic funding round, CFO Sarah Friar told CNBC’s Jim Cramer on Tuesday. The fresh capital brings OpenAI’s record fundraise to “north of $120 billion,” Friar said in an interview on “Mad Money.” That well exceeds the ChatGPT creator’s initial target of $100 billion. OpenAI announced the first tranche of inv...
MF3d OpenAI ( OPENAI ) is raising an additional $10 billion from investors as part of its historic funding round, CFO Sarah Friar told CNBC’s Jim Cramer on Tuesday. The fresh capital brings OpenAI’s record fundraise to “north of $120 billion,” Friar said in an interview on “Mad Money.” That well exceeds the ChatGPT creator’s initial target of $100 billion. OpenAI announced the first tranche of investment in late February, and it’s been considered possibly its last private fundraise before a potential blockbuster initial public offering. Andreessen Horowitz, D.E. Shaw Ventures, MGX, TPG and T. Rowe Price are participants in the new $10 billion commitment, according to Friar. Notably, Microsoft ( MSFT ) , a longtime investor in OpenAI and one of its major computing providers, is also joining this part of the funding round. While the relationship between Microsoft and OpenAI has evolved , Friar called Microsoft “an incredible partner” and complimented its CEO, Satya Nadella, for being “there early.” “What I’m really pleased about is we raised money all around the ecosystem,” Friar told Cramer, pointing to involve from venture capital firms, private equity players, mutual funds and sovereign entities. “It didn’t matter where you went, people really believed in this AI revolution and they wanted to put their money to work behind it,” she added. The comments come as a document that resembles an IPO prospectus, OpenAI ( OPENAI ) has reportedly said its close ties with Microsoft ( MSFT ) could be a potential risk to its business, telling investors that the software company is responsible for “a substantial portion of our financing and compute.” Last month, OpenAI announced $110 billion in funding from strategic partners including Amazon ( AMZN ) , Nvidia ( NVDA ) , and SoftBank ( SFTBY ). More on OpenAI Nadella's Flip-Flop OpenAI's Dilemma Wall Street Lunch: ChatGPT Tops 800M Weekly Active Users OpenAI plans to discontinue its video generation app Sora OpenAI flags Microsof...
The US has reportedly drafted a 15-point plan intended to help bring the war with Iran to a close, according to people familiar with the matter. Bloomberg's Laura Davison and Sam Dagher share what we know so far. (Source: Bloomberg)
The US has reportedly drafted a 15-point plan intended to help bring the war with Iran to a close, according to people familiar with the matter. Bloomberg's Laura Davison and Sam Dagher share what we know so far. (Source: Bloomberg)
Portofino Resources ( PFFOF ) has appointed Rodney Campbell as interim CEO and a member of its board of directors, effective March 24, 2026. This change follows the resignation of David Tafel from the board and his roles as President & CEO, although he will remain with the company as a strategic advisor. Campbell brings significant experience in financial services and the energy sector, having pre...
Portofino Resources ( PFFOF ) has appointed Rodney Campbell as interim CEO and a member of its board of directors, effective March 24, 2026. This change follows the resignation of David Tafel from the board and his roles as President & CEO, although he will remain with the company as a strategic advisor. Campbell brings significant experience in financial services and the energy sector, having previously worked at BMO Nesbitt Burns and gained 17 years of experience in the oil and gas industry with companies like Encana and Apache Corporation. He is also a director at Hi-View Resources Inc. and American Salars Lithium Inc. More on Portofino Resources Inc. Financial information for Portofino Resources Inc.
Police stepped up security outside the Chinese Embassy in Japan on March 24, 2026. Photo: IC Photo An active-duty officer of the Japan Self-Defense Forces has been arrested for allegedly breaking into the premises of the Chinese Embassy in Tokyo at around 9 a.m. local time on March 24, according to local media reports. The suspect, identified as Kodai Murata, a 23-year-old second lieutenant statio...
Police stepped up security outside the Chinese Embassy in Japan on March 24, 2026. Photo: IC Photo An active-duty officer of the Japan Self-Defense Forces has been arrested for allegedly breaking into the premises of the Chinese Embassy in Tokyo at around 9 a.m. local time on March 24, according to local media reports. The suspect, identified as Kodai Murata, a 23-year-old second lieutenant stationed at the Ground Self-Defense Force’s Ebino Camp in Miyazaki Prefecture, is believed to have been carrying a knife with an 18-centimeter blade found near the scene, but none was injured, local police said.