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  • With 46K blacked out, New York Gov. Andrew Cuomo rips Con Edison: 'They should have been better prepared'

    With 46K blacked out, New York Gov. Andrew Cuomo rips Con Edison: 'They should have been better prepared'New York Gov. Andrew Cuomo slammed electricity company Con Edison for blackouts in Brooklyn and Queens on Sunday night amid a heat wave.

  • 'Outrageous': Convicted criminals serve as Alaskan police amid public safety crisis, investigation finds

    'Outrageous': Convicted criminals serve as Alaskan police amid public safety crisis, investigation findsDozens of police officers with criminal records have worked in Alaska, despite state law that should have disqualified them, an investigation finds.

  • 5 shot dead, 6 wounded in Acapulco bar near beach

    5 shot dead, 6 wounded in Acapulco bar near beachGunmen killed five men and wounded six other people at a popular bar in Acapulco on Sunday, the latest in a string of violent incidents for the once-glamorous Pacific Coast resort city that has fallen on hard times. The Guerrero state prosecutor's office said the shootings took place in the morning at a watering hole called Mr. Bar, which is on the city's broad coastal avenue across the street from high-rise beachside hotels. Acapulco is full of summer vacationers, and days earlier authorities launched a security operation for the tourist season.

  • Murders in Mexico surge to record in first half of 2019

    Murders in Mexico surge to record in first half of 2019Murders in Mexico jumped in the first half of the year to the highest on record, according to official data, underscoring the vast challenges President Andres Manuel Lopez Obrador faces in reducing violence in the cartel-ravaged country. There were 14,603 murders from January to June, versus the 13,985 homicides registered in the first six months of 2018, according to data posted over the weekend on the website of Mexico's national public security office. Mexico is on course to surpass the 29,111 murders of last year, an all-time high.

  • Booming Philippine Markets Pin Hopes on Duterte for Next Rally

    Booming Philippine Markets Pin Hopes on Duterte for Next Rally(Bloomberg) -- When President Rodrigo Duterte delivers his annual speech to the nation on Monday, he’ll have plenty to brag about. The Philippine economy is among the fastest-growing in the world and markets are booming.But global risks are rising amid the prolonged trade war, and investors looking for the next leg of the market rally will scrutinize Duterte’s economic priorities as he embarks on the last half of his six-year term. Top on their minds are the $180 billion infrastructure program and new tax policies.“If Duterte hits the right notes, markets would have another leg to rally on," said Jonathan Ravelas, chief market strategist at BDO Unibank Inc. “There’s great interest in these measures to be prioritized to sustain the kind of growth rates we’ve been seeing.”Duterte is scheduled to speak before lawmakers at about 4 p.m. in Manila., after market close.PesoIf history is any guide, there’s a big chance the peso will rise the day after the State of the Nation Address. The currency has risen in nine of the last 10 years, posting an average gain of 0.15%.“We remain bullish on peso and we would like to sell the dollar-peso on rallies,” said Qi Gao, a Singapore-based currency strategist at Scotiabank. The currency is among those that will benefit the most as the Federal Reserve’s dovish stance lures inflows, he said.The peso closed at 51.04 per dollar on Friday, near its strongest level since January 2018. The currency’s next resistance is at the 50 pesos a dollar, Gao said.StocksFor stocks traders, it may be bad news first before good news, according to three decades of data. On the day of the president’s speech, the benchmark Philippine Stock Exchange Index retreated about two-thirds of the time, and posted an average loss of 0.4%.The gauge recovered more than half of the time the day after since Congress was restored in 1987, posting an average gain of 0.3%. The trend will likely hold and given the current market momentum, the index will hit 8,500 sooner than later, according to Jun Calaycay, head of research at Philstocks Financial Inc., who called the bull market a week before it happened.“The market is used to Duterte’s controversial antics," Calaycay said. “But should he start talking about policy, regulation and his legislative agenda then that would be a plus.”Local BondsPhilippine peso bonds are outperforming peers in emerging-markets as the central bank embarks on interest-rate cuts. Ten-year bond yields fell below 5% this month from more than 8% in October.“Relative to the rest of EM world, the Philippines is an island of stability, continuing a pace of high growth and foreign investment,” said Edwin Gutierrez, head of emerging-market sovereign debt at Aberdeen Standard Investments in London, who remains long on Philippine bonds.Meanwhile, the government’s push to cut corporate income taxes will attract more foreign investors while the move to tax foreigners working in the offshore gaming sector will generate additional annual revenue, said Alan Atienza, treasurer at Philippine Bank of Communications in Manila.\--With assistance from Lilian Karunungan.To contact the reporters on this story: Ditas Lopez in Manila at dlopez55@bloomberg.net;Ian Sayson in Manila at isayson@bloomberg.netTo contact the editors responsible for this story: Cecilia Yap at cyap19@bloomberg.net, ;Tomoko Yamazaki at tyamazaki@bloomberg.net, Karl Lester M. Yap, Lianting TuFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • More F-35s Are Headed to This NATO Member

    More F-35s Are Headed to This NATO MemberThe Royal Netherlands Air Force soon will buy another eight or nine F-35 stealth fighters, defense minister Ank Bijleveld said in a July 2019 interview.The additional F-35s will help the Dutch air force to reequip an additional front-line fighter squadron.The decision partially restores deep cuts to the Dutch fighter fleet that began at the end of the Cold War and continued through the 2008 global financial crisis. Today the RNLAF operates around 60 F-16s in three front-line squadrons and one training unit.At its peak in the late 1980s, the Dutch F-16 fleet included more than 200 airframes, making it one of Europe’s most powerful fighter forces.The Netherlands is a major partner in the U.S.-led F-35 program and originally planned to acquire 114 of the radar-evading warplanes to fully replace the F-16 fleet. But the country’s defense budget shrank and the F-35’s cost rose.Amsterdam in 2013 budgeted just $6 billion to buy 37 F-35s, enough to equip two F-16 squadrons plus the training unit. Critics pointed out that 37 fighters would be sufficient to support long-term deployments of just a handful of aircraft.“Because pilots are also busy with training and surveillance of Dutch airspace, only four aircraft could be permanently on a foreign mission,” Dutch newspaper Trouw reported. “Should an [F-35] crash, even that limited assignment would be difficult.”


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