Economic fallout from pandemic weakens banks’ optimism

The heads of the country’s banks are slightly less optimistic about the industry’s prospects over the medium term due to what they believe would be the lingering economic impact of the coronavirus pandemic, according to a central bank poll during the second half of last year. The Bangko Sentral ng Pilipinas said its semi-annual Banking Sector Outlook Survey – part …

Some delivery workers have no choice but to bring their kids along during the pandemic

For Ashley Vincent, a single mom in New York, delivering for DoorDash often requires some negotiation with her seven-year-old son. He’ll say, “We can go out tonight but you can only do six deliveries.” Vincent, a school bus driver, started working for the on-demand food delivery company to supplement her income. She used to make ends meet by picking up …

Uber lost $6.8 billion in 2020

Uber lost a staggering 6.8 billion dollars last year — and that’s actually good news. The loss represented a drop from the 8.5 billion dollars it lost in 2019. Uber experienced revenue declines due to the ongoing pandemic’s impact on its Rides business. Uber has continued to lean on Eats, its food delivery business, which saw revenue increase 224% to …

NextGen’s wisdom on the pandemic normal: Vanessa Tanco

Vanessa Tanco is the CEO of iAcademy, an institution that offers specialized programs in game development, business management, and liberal arts and design. In 2020, iAcademy also launched an accountancy school, in partnership with PwC Philippines. It was recently awarded as the Most Innovative Education Provider by UK-based publications company Global Brands along with top-tier schools like Harvard and Massachusetts …

Migrant workers’ jobs still at risk

The prolonged COVID-19 pandemic closed international borders and slowed migration, but highly skilled overseas Filipino workers, especially nurses, managed to continue sending money home to support their families, the Asian Development Bank said. In its Asian Economic Integration Report 2021: Making Digital Platforms Work for Asia and the Pacific, the Manila-based ADB said that in 2019, there were 272 million …

Tesla says you could soon pay for one of its cars with bitcoin

Tesla is betting big on bitcoin, saying it may soon accept the digital currency as payment for its cars. And the most valuable car company on the stock market said it is holding some of its cash in bitcoin rather than traditional currency. In its annual filing with the Securities and Exchange Commission, Tesla said that it expects “to begin …

Quezon City rejects reopening cinemas amid pandemic

Quezon City is not in favor of opening cinemas amid the continuing threat of COVID-19. QC Mayor Joy Belmonte said that although she supports the reopening of the economy, the benefits should balance the risks. Belmonte said, “If we allow it to open, for the few that will agree to open…the risk is not commensurate to the gain…Enclosed ‘yung mga …

Europeans are paying 20% more for their vacations than before the pandemic

Europeans are looking beyond lockdowns and betting that the coronavirus pandemic won’t quash summer travel for a second year. Despite uncertainty over the pandemic, millions of vacationers, particularly in the United Kingdom, have already booked trips and are spending even more than they did before the coronavirus hit, according to Tui. The world’s largest tour operator said 2.8 million customers …

Coke is launching a new bottle size for the first time in a decade

Coca-Cola is launching a new bottle size for the first time in a decade, but it’s what the bottle’s made of that marks an even more notable first: 100% recycled plastic. The new 13.2-ounce recyclable bottle that some customers will see on shelves this month is made entirely of other plastics, and it’s the latest move in Coca-Cola’s several-year initiative …