Erase Your Online Shopping Digital Footprint

As you shop online, it’s likely your personal and credit card information has been stored in more places over the past few months, opening you up to cyber attacks and identity theft. While it’s always a good idea to routinely change passwords and secure your home networks, make sure you’re also protecting how you shop online. Many small businesses added …

EU Antitrust Officials Investigate Apple Pay and App Store

European regulators announced formal antitrust investigations into Apple’s App Store and its Apple Pay system. The first stems from complaints filed by Spotify and Rakuten. They claimed Apple is violating EU competition rules by requiring the use of its in-app purchase system to access music and books, and by preventing apps from informing users of cheaper ways to buy content …

Japan Lends P75-B for Cebu and Davao Infra Projects

The Philippines and Japan on Tuesday signed two loan agreements worth a combined 75.5 billion pesos for two big-ticket infrastructure projects under the Duterte administration’s “Build, Build, Build” program. Finance Secretary Carlos Dominguez III and Japan International Cooperation Agency chief representative Eigo Azukizawa signed the agreements for the 57-billion-peso loan to support the construction of the Cebu-Mactan Fourth Bridge and …

IMF: Deeper-than-expected Q2 Contraction of U.S. Economy

The lockdown in the U.S. has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the International Monetary Fund said. Details will be available when the IMF releases its updated World Economic Outlook on Wednesday, spokesman Gerry Rice shared. Given the continuing lockdowns, the …

BIR Preparing to Tax Streaming Services

The Bureau of Internal Revenue said it is laying the groundwork for taxing online service platforms and merchants including streaming services like Netflix. In a briefing, Deputy Commissioner for Operations Arnel Guballa said the BIR is “(heading towards)” that direction and studying what other countries are doing with regard to value-added tax for such services.  He added that the BIR …

Dingdong Dantes Launches Business Amid COVID-19

Several actors hope to help jobless Filipinos by going into business. Dingdong Dantes will launch the delivery app Ding Dong PH. The idea started when the home-based flower business of wife Marian Rivera encountered a hitch during delivery. His wife had a client who wanted a flower delivered, but when it arrived at the location, it was left at the …

Grab to Cut 360 Jobs Due to Pandemic

Singapore-based ride-hailing firm Grab said it would be cutting about 360 jobs or five percent of its employees due to the “stark impact” of the coronavirus pandemic on its operations. Grab Chief Executive Officer and co-founder Anthony Tan said the company had tried “everything possible” to avoid cutting jobs, adding, “Since February, we have seen the stark impact of COVID-19 …

Over 600,000 Lose Jobs in UK

The number on British company payrolls fell by over 600,000 in April and May as the COVID-19 lockdown hit the labor market, and vacancies plunged by the most on record. The jobless rate unexpectedly held at 3.9 percent over the three months to April – despite a record slump in overall economic output during that period – as firms turned …

PCSO Loses P13B Due to COVID-19

The Philippine Charity Sweepstakes Office has lost around 13 billion pesos in earnings amid the implementation of the community quarantine due to COVID-19. Due to the threat of COVID-19, the gaming operation of PCSO has been suspended since March. PCSO general manager Royina Garma said they have already written to the Office of the President regarding the resumption of their …