
ONE Championship president says IPO always part of the plan
"We have definitely been in conversations with exchanges, both in the West and over here," he said on a panel at the Reuters Next summit in Singapore.
Group ONE Holdings, the parent company of ONE Championship, previously floated the idea for a public listing in the United States in 2022 as part of a global expansion drive.
ONE Championship is Asia's largest sports media player, according to Nielsen, a global audience measurement and data analytics company.
To view the live broadcast of the World Stage go to the Reuters LIVE page: https://www.reuters.com/world/reuters-next-asia-live-global-leaders-address-challenges-opportunities-2025-07-07/
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BBC News
21 minutes ago
- BBC News
Philippines goods to face 19% tariff, Trump says
The US will levy a 19% tax on imports from the Philippines, US President Donald Trump has announced after meeting with the country's president at the White wrote on social media on Tuesday that the new tariff was part of a wider pact, in which the Philippines would remove duties on US goods and the two countries would cooperate militarily."It was a beautiful visit, and we concluded our Trade Deal," he wrote on social media, offering no further details about the apparent plan, which was not immediately confirmed by the Philippines, would leave the country facing a tax even higher than what Trump had threatened when he first announced sweeping global tariffs in April. Trump said his goal with instituting tariffs was to push countries to drop policies he saw as unfair to the US. His plans set off a flurry of trade talks with countries around the world. He has since announced a handful of deals, including with the UK, China and Indonesia. But the agreements so far have kept in place high tariffs, with key issues unresolved or unconfirmed by both Trump now threatening a new round of higher duties to go into effect 1 August, some of America's biggest and most important trade partners, including the European Union and Canada, remain in hopes for a deal dim, officials in Europe are increasingly rallying around plans for potential Canada on Tuesday, Prime Minister Mark Carney said that "complex negotiations" were continuing but was noncommittal on the prospect of reaching a deal by Trump deadline next week. "We'll see," he told reporters after meeting with premiers in Ontario. "The Americans objectives are multiple, they change over time ... but what is clear is that the Canadian government will not accept a bad agreement. The objective is not to have an agreement at any cost." Trump's tariff plans sparked widespread financial turmoil when he announced them originally in April, putting forward a plan that would leave the US with its highest duties since the early subsequently suspended some of the plan's most aggressive measures, while leaving in place a universal 10% tariff on most goods and separately hitting certain items, such as cars, copper, steel and aluminium, with higher in recent weeks, as markets have calmed and the US economy held steady, Trump has returned to plans for higher duties, sending letters to countries outlining plans for new tariffs that he says will go into force on 1 August. In a letter to leaders in the Philippines this month, he had said he would charge a 20% tariff on the country's goods. That was up from 17% rate he had threatened in Philippines is a relatively small trade partner with the US, sending about $14.2bn worth of goods to the America last year. That included car parts, electric machinery, textiles and coconut oil. Meanwhile for companies, the cost of the new tariffs is increasing. General Motors on Tuesday said tariffs had cost it more than $1bn over three months. That followed an earlier disclosure from rival Stellantis, maker of Jeep, which said the measures had cost it €300m (£259.6m, $349.2m).


Reuters
21 minutes ago
- Reuters
US-Philippines trade talks yield modest tariff shift after Trump-Marcos meeting
WASHINGTON, July 22 (Reuters) - U.S. President Donald Trump announced on Tuesday a new 19% tariff rate for goods from the Philippines after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House, and said U.S. goods would pay zero tariffs. The new tariff rate is just below the 20% threatened by Trump earlier this month, but still above the 17% rate set in April when Trump announced what he called reciprocal tariff rates for dozens of countries. It matches the 19% rate announced for Indonesia and bests Vietnam's slightly higher rate of 20%. Trump posted the news on his Truth Social media platform after meeting with Marcos in the Oval Office, where he had earlier signaled a deal could be reached during the visit. "It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs. The Philippines will pay a 19% Tariff," Trump said, calling Marcos a "very good and tough negotiator." Trump said the two Pacific allies, who will celebrate 80 years of diplomatic relations next year, would also work together militarily but gave no details. Marcos, the first Southeast Asian leader to meet Trump in his second term, told reporters at the start of the meeting that the United States was his country's "strongest, closest, most reliable ally." He had no comment after Trump's post on the new tariff rate. Trump said the "very big numbers" in the trade agreement would only grow larger. The U.S. had a deficit of nearly $5 billion with the Philippines last year on bilateral goods trade of $23.5 billion. Trump has upended global trade flows with tariffs on nearly every trading partner, with almost all countries facing a 10% tariff that took effect in April and many facing steep additional tariffs from August 1. Gregory Poling, a Southeast Asia expert at Washington's Center for Strategic and International Studies, said it was too early to say much about the Philippines trade deal since no details had been released, as was the case with similar pacts with Indonesia and Vietnam. "At the end of the day, I don't think the Philippine government is sweating the final number so long as it keeps Philippine-made goods competitive with those of its neighbors, which this does," Poling said. The White House announced further details of a framework for a U.S.-Indonesia trade agreement on Tuesday, saying negotiators were due to finalize the terms in coming weeks. During the Oval Office event, Trump said he may visit China for a landmark trip "in the not-too-distant future" and noted the Philippines had distanced itself from Beijing after his election last November. "The country was maybe tilting toward China, but we un-tilted it very, very quickly," Trump said. Philippine officials had said Marcos planned to stress that Manila must become economically stronger if it is to serve as a truly robust U.S. partner in the Indo-Pacific. Protesters gathered near the White House as Marcos arrived, demanding the Philippine leader address pleas of Filipino Americans and migrant workers who have made multiple requests for support amid federal immigration raids.


Scottish Sun
an hour ago
- Scottish Sun
Sir Alex Ferguson spotted at Ibrox as Man Utd great shows support for new Rangers boss Russell Martin
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) SIR ALEX FERGUSON was among the 50,000 supporters giving his backing to the new Rangers boss as the Russell Martin era got underway at Ibrox. The Aberdeen and Manchester United legend was spotted alongside Rangers nine-in-a-row hero Richard Gough in the directors' box as they took in Rangers crunch Champions League clash with Panathinaikos. Sign up for the Rangers newsletter Sign up 3 Sir Alex and Richard Gough in conversation Credit: Reuters 3 Sir Alex in the stands before the match Credit: Reuters 3 Sr Alex sitting alongside club legend Richard Gough Credit: Willie Vass It was Martin's first competitive match in charge of the club since taking over in the summer. They've given themselves a two-goal cushion heading into the second leg in Greece next week after goals from Findlay Curtis and new signing Djeidi Gassama. Before the match, new boss Martin revealed the managerial great had been in contact through his son Darren - who Martin played under at Peterborough - to show his support. The 83-year-old was shown around the club's training centre at Auchenhowie along with club legend John Greig in the build up to Tuesday night's crucial qualifier. And he parted his wisdom and some inspirational words to the players and staff. Martin said: "We had two Rangers legends and a legend of the game this week who supports this club and they all had the same conversation with every single one about what this club means to them and we have to represent that as much as we can." Ferguson played for Rangers between 1967 and 1969, but is more famous for his managerial success at Aberdeen winning the European Cup Winners' Cup in 1983, and his remarkable achievements at United winning 13 Premier League titles and the Champions League twice. Martin added: 'The door is open to people who have had success here, they know what it takes, they know what the club is about, they support the club, they feel what it means to be here and be part of it. 'Anyone that can impart some wisdom on that and some experience, and people who have had big success here as well, is hugely helpful to me, to the staff, to the players." Also watching on from the stands on Tuesday were new chairman Andrew Cavenagh and vice chair Paraag Marathe who is head of the 49ers Enterprises - the commercial arm of NFL side San Francisco 49ers. 'I'm not doing this' - Sir Alex Ferguson gatecrashes Rio Ferdinand's podcast... but refuses to make an appearance They were part of the US consortium which took over the club in the summer. Keep up to date with ALL the latest news and transfers at the Scottish Sun football page