Tesla unveils new Roadster that flips in air with SpaceX thrusters

GMA Network - Oct 16, 2026

SAN FRANCISCO--Tesla unveiled a redesigned Roadster powered with rocket-style thrusters on Thursday and said it would start production in 2028, more than a decade after it first showed a next-generation version of its electric sports car.

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PSEi rebounds to 5,700 level

Oct 16, 2026

PSEi rebounds to 5,700 level

Philippine shares closed the week on a strong note on Friday, as investors' bargain hunting supported the local market.

LVMH touts ‘special bond’ with China as ‘subdued’ backdrop weighs on sales

Oct 16, 2026

LVMH touts ‘special bond’ with China as ‘subdued’ backdrop weighs on sales

French luxury giant LVMH Group kicked off a global open-house event showcasing its craftsmanship in Shanghai on Thursday, as the event’s founder Antoine Arnault hailed a “special bond” with Chinese customers at a launch event in Paris. It came as the group faced pressure from sluggish demand in China and a backlash over a lawsuit against a local tea company. At the launch event at the Samaritaine department store in central Paris for this year’s Les Journées Particulières, first initiated by...

NASECORE urges fair competition, consumer protection in Semirara coal mine auction

Oct 16, 2026

NASECORE urges fair competition, consumer protection in Semirara coal mine auction

The National Association of Electricity Consumers for Reforms (NASECORE) has called on the Department of Energy (DOE) to establish clear, transparent, and enforceable bidding parameters for the next Semirara coal operating contract, as it emphasized that any decision must prioritize public interest, consumer protection, and national energy security.

IPO fraud, China’s export boom, US inflation: 5 figures investors are watching

Oct 16, 2026

IPO fraud, China’s export boom, US inflation: 5 figures investors are watching

Hong Kong’s market regulators cracked down on fraud with a multibillion-dollar asset freeze, while mainland trade momentum surged on robust tech demand. Meanwhile, mainland Chinese traders ramped up their exposure to local equities, and the city cemented its status as a top global destination for wealth philanthropy. Here are some of the figures that have drawn the most market attention this week. Hong Kong watchdogs freeze US$590 million Hong Kong’s securities watchdog moved against two groups...

Who is Victor Limlingan, the new SSS chief?

Oct 16, 2026

Who is Victor Limlingan, the new SSS chief?

President Ferdinand “Bongbong” Marcos Jr. has appointed a finance veteran to take the helm of private sector workers" pension fund, Social Security System (SSS).

PAL to offer 60% discounts on business, premium seats

Oct 16, 2026

PAL to offer 60% discounts on business, premium seats

Flag carrier Philippine Airlines (PAL) on Friday announced discounts of up to 60% on business and premium seats on select domestic and international routes as part of its inaugural Premium Cabin Seat Sale.

Beijing enlists multiple regulators to probe EV safety issue that raised quality alarms

Oct 16, 2026

Beijing enlists multiple regulators to probe EV safety issue that raised quality alarms

Beijing has enlisted the support of its top internet watchdog to deepen the investigation into a car safety issue that put Chinese-made intelligent vehicles under the spotlight. The Ministry of Industry and Information Technology (MIIT) said on Thursday that a joint investigation team including officials from the Cyberspace Administration of China (CAC) and the State Administration for Market Regulation (SAMR) would verify facts regarding reports about brake pedal failures in tests of an...

Marcos appoints Victor Alfonso Limlingan as new SSS chief

Oct 16, 2026

Marcos appoints Victor Alfonso Limlingan as new SSS chief

President Ferdinand “Bongbong” Marcos Jr. on Friday appointed finance and investment veteran Victor Alfonso Limlingan as the new president and CEO of the Social Security System (SSS).

‘Father of Lan Kwai Fong’ Allan Zeman pivots to Hong Kong’s luxury home market

Oct 16, 2026

‘Father of Lan Kwai Fong’ Allan Zeman pivots to Hong Kong’s luxury home market

The wallpaper on Allan Zeman’s office desktop computer screen is an image of Chandara, the private estate in Phuket that he has owned for more than two decades. Now the “father of Lan Kwai Fong” is bringing the Thai resort-style concept to Hong Kong’s luxury housing market. Located in rural Sai Kung, 181 Clearwater is the first local residential project for Zeman’s Lan Kwai Fong Group. Developed with Far East Consortium and Hien Lee Engineering, the project – which has received presale approval...

Crypto operator Solana abruptly cancels Shanghai event after office plan raises eyebrows

Oct 16, 2026

Crypto operator Solana abruptly cancels Shanghai event after office plan raises eyebrows

Solana, which operates one of the world’s largest cryptocurrencies, has cancelled a high-profile event in Shanghai at the last minute as local police appeared on site, according to social media posts, just a day after the firm touted the opening of a fancy new office in the city. Solana was slated to host its Solana Accelerate China event in Shanghai on Friday morning, part of a week-long event across major cities in mainland China. Shortly before the event kicked off, however, the company said...

Peso breaches P63:$1 level further

Oct 16, 2026

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The Philippine peso further weakened against the US dollar, breaching the P63:$1 level and hitting a fresh historic low during intraday trading on Friday.

COA flags SSS P40-B 'paper loss' in equity investments

Oct 16, 2026

COA flags SSS P40-B 'paper loss' in equity investments

State auditors have flagged the nearly P40-billion in unrealized equity investment losses incurred by private sector workers" pension fund Social Security System (SSS).

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