Four of the country’s most influential business groups have thrown their collective support behind a proposed measure that would exempt electricity sales from the value-added tax (VAT), framing it as a decisive step toward reducing one of the Philippines’ most persistent economic burdens: high power costs.

Honda Parts Manufacturing Corp. (HPMC) has switched on the...

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.