PSEi ends three-day climb as mart turns cautious

PHILIPPINE SHARES closed in negative territory on Tuesday, ending its three-day rally, as investors opted to pocket gains following a global debt watcher’s comments on the country’s growth prospects. The benchmark Philippine Stock Exchange index (PSEi) dropped 46.68 points or 0.63% to close at 7,258.11, while the broader all shares index fell 35.57 points or 0.81% to end at 4,337.76.…

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CES loses the touch and feel

This is the web version of Data Sheet, a daily newsletter on the business of tech. Sign up to get it delivered free to your inbox.  It’s pretty dead along the strip in Las Vegas right now, though to be fair it’s also about 3 a.m. Pop in anytime via the great WorldCams site and take a peek. Internet video is…

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Stocks rise on proposed changes to Constitution

By Revin Mikhael D. Ochave, Reporter STOCKS ended in positive territory on Monday as the market welcomed a proposal to amend economic provisions of the 1987 Philippine Constitution to attract more foreign investments into the country. The bellwether Philippine Stock Exchange index (PSEi) improved 14.91 points or 0.2% to close at 7,304.79 yesterday, while the broader all shares index rose…

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Apple, Amazon remove Parler over accusations the platform helped incite Capitol attacks

Apple Inc. and Amazon.com Inc. are removing Parler from their services, part of a growing backlash after the social media network was among those used to organize Wednesday’s riots at the Capitol. Apple dropped Parler from its App Store, while Amazon’s cloud unit decided to stop hosting the social media company starting Sunday night. They joined Alphabet Inc.’s Google, which…

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Peso to climb versus dollar on stimulus hopes

THE PESO is expected to bounce back versus the dollar this week as the market anticipates the leadership change in the United States and on developments regarding coronavirus vaccines. The local unit finished trading at P48.088 versus the dollar on Friday, shedding 1.8 centavos from its P48.07 close on Thursday, data from the Bankers Association of the Philippines showed. It…

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How a high school principal in Oregon is helping her school process the Capitol siege

The 9/11 attacks occurred during Amy Fast’s first week of teaching. Nearly two decades later, she now serves as principal of McMinnville High School in McMinnville, Ore. In times of blindsiding public crisis, all eyes are on her for guidance and stability: Students and staff, teachers, and families look to her to lead the community in processing the events in…

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November trade deficit narrowest since June

By Arjay L. Balinbin, Senior Reporter The Philippine trade deficit dropped to its lowest level in five months in November, suggesting that trade could contribute to economic growth in the fourth quarter, though declining imports hinted at slowing domestic demand. The trade deficit was $1.73 billion, lower than $1.79 billion in October and $3.65 billion in November last year. The…

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More than half the money she’s raised for her startup is from Black investors—and that’s by design

Good morning, Broadsheet readers! Elaine Chao and Betsy DeVos resign, Rhode Island Gov. Gina Raimondo is Biden’s pick for commerce secretary, and we learn about a food startup founder’s fundraising strategy. Have a restful weekend. – Eating away at the funding gap. Earlier this week, we highlighted a story from Business Insider that included a deeply disappointing statistic: Of the…

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October FDI net inflows lowest since April

By Beatrice M. Laforga, Reporter Foreign direct investments (FDI) to the Philippines in October fell to the lowest level in six months, amid a fresh surge in coronavirus infections overseas, according to the central bank. FDI net inflows shrank by a quarter to $423 million from $561 million a year earlier, the second straight month of yearly decline, according to…

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The fundamental flaw in cap-weighted index funds

Could the investor stampede into index funds create an opportunity to beat the indexes? Ironically, it might—but only for investors with a long investing horizon and a strong stomach. This intriguing possibility emerges from a new paper by researchers at Michigan State University, the London School of Economics, and the University of California at Irvine, which focuses on S&P 500 index funds.  The irony…

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