Markets
Fed rate cut sparks rally on Wall Street
Wall Street roared higher Wednesday after the Federal Reserve cut interest rates by a quarter-percentage point and Chairman Jerome Powell all but shut the door on any future hikes.
Fed delivers a quarter-point rate cut, flags risks
The Federal Reserve cut interest rates by a quarter percentage point on Wednesday after noting cooler labor-market momentum and persistent uncertainty surrounding the economic outlook.
SEC seeks public comment on higher audit threshold
The Securities and Exchange Commission (SEC) has released a draft rule that would raise the audit threshold for corporations to more than P3 million in total assets or liabilities. The proposal aims to cut compliance costs for micro, small, and medium enterprises.
UBS scoops 144.3M shares to steady Maynilad
Maynilad Water Services Inc.’s market debut came with a splash and a safety net. UBS AG Singapore Branch, acting as the stabilization agent for the utility’s initial public offering, snapped up a hefty 144.3 million Maynilad shares during the stabilization window after the stock slipped below its P15 IPO price.
Policy easing expectations drive T-bill yields down
Treasury bill yields slipped further at Monday’s auction, with the rate on the one-year paper breaking below 5 percent as investors priced in expectations of monetary policy easing by the Bangko Sentral ng Pilipinas (BSP) later this week.
