Philippine central bank cuts interest rate as economy slows

Manila: The Philippines cut its benchmark interest rate by a quarter-percentage point Thursday, in line with most forecasts, resuming policy easing after economic growth and inflation slowed. Bangko Sentral ng Pilipinas reduced the overnight borrowing rate to 4.25 per cent, it said in a statement. Twenty-three of the 26 economists surveyed by Bloomberg predicted the […]

US recession odds pick up as economists cut growth estimates

New York: The likelihood of a US recession in the next 12 months rose to 35 per cent in an August survey of economists, from 31 per cent forecast previously, as global trade tensions fuel economic uncertainty. Growth in the world’s biggest economy will average 2.3 per cent this year, down from 2.5 per cent […]

Rolls-Royce suffers cash drain from jetliner, Brexit bottlenecks

Rolls-Royce Holdings Plc’s cash outflow ballooned in the first half as a bottleneck in plane deliveries at Airbus SE and Boeing Co. reduced engine revenue and stockpiling for a no-deal Brexit led to a build up of parts. Europe’s biggest jet-engine maker posted negative underlying free cash flow of 429 million pounds ($522 million) for […]