Author: Anthony M. Orbison

MANILA (Reuters) – The Philippines will impose a 12% value-added tax (VAT) on digital services offered by tech giants such as Amazon (NASDAQ:), Netflix (NASDAQ:), Disney, and Alphabet (NASDAQ:), in a move that will level the playing field with domestic brick and mortar players, the internal revenue agency said on Thursday. President Ferdinand Marcos Jr signed into law on Wednesday the imposition of VAT on non-resident digital service providers such as streaming services and online search engines. “This will promote fair competition amongst businesses that are profiting from consumers here in the Philippines. A level playing field produces better products…

Spot Bitcoin exchange-traded funds recorded significant outflows ending their eight-day inflow streak on Oct. 1 as Bitcoin retreated below $62,000 amid rising tension in the Middle East. According to data from SoSoValue, the 12-spot Bitcoin ETFs saw net outflows of $242.53 million, breaking an inflow streak that had brought $1.42 billion into these funds over the previous eight days. This marked the largest daily outflow since Sept. 3, when $288 million exited Bitcoin ETFs. Among the funds, Fidelity’s FBTC led the outflows with $144.7 million withdrawn on Oct. 1, followed by ARK 21Shares’ ARKB, which saw $84.3 million in outflows.…

Billionaire Investor Who Predicted 2000, 2008 Crashes Says Market Euphoria Will Top Soon, Warns Of ‘Black Swan Event’Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.Mark Spitznagel, co-founder of Universa Investments, believes the stock market is in a “Goldilocks phase” following the Federal Reserve’s rate cuts and China’s stimulus measures. After a crash last month, the market surged to new highs, but Spitznagel warns this euphoria won’t last in an interview with Bloomberg.He predicts a looming recession and believes the current rally is only temporary.Check It Out:Spitznagel, known for his focus on…

Tesla stock  (TSLA)  lost 3.5% on Oct. 2 after the electric vehicle maker reported third-quarter deliveries of 462,890, up about 6% from a year earlier. This marks the first year-over-year growth in quarterly deliveries for 2024.However, the number slightly missed analysts’ forecast deliveries of 463,310, according to FactSet StreetAccount data. Tesla’s year-ago period saw deliveries of 435,059 vehicles with production totaling 430,488. The company also said it produced 469,796 vehicles and deployed 6.9 GWh of energy storage products during Q3.Related: A ridiculous Tesla Supercharging flaw is making EV owners hostileTesla stock is down 0.33% year-to-date, largely underperforming the S&P 500…

In a significant move that could reshape the regulatory landscape for XRP and blockchain payments company Ripple, the US Securities and Exchange Commission (SEC) announced on Wednesday that it is appealing the court ruling limiting its authority over crypto markets.  The appeal targets a July 2023 decision by US District Judge Analisa Torres, which determined that the XRP token, sold by Ripple Labs on public exchanges, does not qualify as a security under existing laws. SEC Appeals Court Ruling On XRP The implications of this ruling are substantial. Judge Torres stated that the approximately $757 million in XRP sales on…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseThe US and its western allies are trying to limit Israel’s response to Iran’s ballistic missile attack in the hope of preventing a widening regional conflict from spiralling out of control.Washington has made clear it supports Israel’s right to respond militarily to Tuesday’s missile attack, and is holding frequent calls with Israeli officials as they plan their next move. US President Joe Biden on Wednesday spoke with the other leaders of the G7 to co-ordinate sanctions on Tehran for…

By Krystal Hu (Reuters) -OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157 billion and cement its position as one of the most valuable private companies in the world. The funding has attracted returning venture capital investors including Thrive Capital and Khosla Ventures, as well as OpenAI’s biggest corporate backer Microsoft (NASDAQ:), and new participation from Nvidia (NASDAQ:). The closing of the funds coincides with the company’s ongoing restructuring efforts and executive changes, including the abrupt departure of its longtime Chief Technology Officer, Mira Murati, last week. Altimeter Capital, Fidelity, SoftBank…

Este artículo también está disponible en español. Like Bitcoin, Ethereum, and other top altcoins, Solana remains under immense selling pressure. While bulls struggle for momentum, $160 is emerging as a local resistance level for traders to watch out for. Despite the upside momentum in September, Solana buyers didn’t lift prices above this line. At press time, there is a local double top, even as one analyst on X notes that Solana outperformed other platforms, posting a sharp influx in net inflow. Solana netflows | Source: @0xMert_ via X Solana Received Over $800 Million In Net Flows Over Three Months Unlike…

On this episode of Fortune’s Leadership Next podcast, host Diane Brady talks to Indeed CEO Chris Hyams. The interview was conducted live in front of an audience at Deloitte’s Next Generation CEO Program. During the discussion, the conversation covered Hyams’ nontraditional route to the C-suite, which included jobs at an adolescent psychiatric hospital and a two-year stint as a full-time (aspiring) rock star. The hospital job, he says, taught him lessons in empathy that he has carried forward throughout his career. Hyams also talks about the surprising impact AI is already having on the job market and the reason his 27-year-old daughter is top…

After filing for bankruptcy, vanishing for five months, getting served with a lawsuit, and receiving damaging backlash, a popular restaurant chain refused to let these multiple major setbacks get in the way of its journey to redemption.With various store locations in major cities across the U.S., including Chicago, Texas, and Washington D.C., this chain quickly became a neighborhood go-to for those living the fast-paced urban life. Don’t miss the move: Subscribe to TheStreet’s free daily newsletterYet a wrong business move caused this company’s success to crumble just as quickly as it was achieved.But like the saying goes, “Only time can…