Showing posts with label Business News. Show all posts
Showing posts with label Business News. Show all posts

Cebu-based call center closes shop, more than 600 loses their jobs

More than 600 call center agents loss their job after Cebu-based call center company, Direct Access Corporation, closed shop Monday night.

According to the report, the company is one of the locators at Asiatown I.T. Park in Cebu City and due to financial losses, they suspended its operation effective July 30 for a period of six months.

“If the company could not recover financially, there will be a permanent retrenchment on the sixth month where you will be paid what is due under the Philippine labor laws. Thank you for your continued understanding of the company’s situation,” said chief operating officer of the company, Jeffrey Newman, on his notice sent to his employees.

However, the employees lamented that they were caught off guard with the sudden closure of the company and file a complaint letter to the Department of Labor and Employment-7.

Source: Philstar

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Apple Ordered to Publish Notice "Samsung Did Not Copy iPad"

Apple was ordered by a British judge to publish an ads on its U.K. website and in British newspapers saying that Samsung did not copy its design for the iPad, according to Bloomberg.

Judge Colin Birss said in his July 9 ruling that Samsung’s Galaxy tablets did not infringe Apple's registered designs and added that Apple should publish a notice on its home page for six months and published in newspapers and magazines to correct any impression the South Korea-based company was copying Apple’s product.

Birss added that Samsung’s Galaxy tablets were unlikely to be confused with the iPad because they are “not as cool” as the U.S. company's iPad.

Bloomberg also reported that the legal battles about the similarity of Samsung and Apple tablets are being fought in Germany, the Netherlands and the U.S.

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GMA-7 denies "Deal Talks" with MVP Group

GMA Network Inc. denied Tuesday reports that the group of Manuel V. Pangilinan and GMA-7 executives are currently in “business deal talks”. 

Based on the rumors circulating on the social networking sites, MVP and his media conglomerate, MediaQuest Holdings, which has controlling equity of TV5, offered to buy the Kapuso Network for P500 billion.

However, GMA Network strongly denying the reports in a statement released on Tuesday.

“We would like to inform you and the public that there is no truth to the said report,” said GMA Network vice president for investor relations and compliance Ayahl Ari Augusto Chio, in a disclosure to the stock exchange.

In its website, GMA-7 added:

"There is no truth to the rumor going around in social media sites and the Internet that Mr. Manny Pangilinan has bought GMA Network. In fact, there is no negotiation going on between GMA and Mr. Pangilinan regarding the latter's acquisition of GMA-7."

Yesterday, the keywords “GMA 7” and “MVP” were Twitter trending topics.

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San Miguel Corp. interested in RPN9, IBC-13?

San Miguel Corp. reiterated its interest to acquire the government-sequestered TV stations RPN-9 and IBC-13 in line with their diversification strategy launched three years ago and will surely be among the bidders when these two television stations are put on the auction block.

“If these two stations will be bid out, we will join,” said Ramon S. Ang, president of San Miguel.

The government has been trying to sell its stakes in both RPN-9 and IBC-13 for years as it intends to only operate one television network, the National Broadcasting Network. However, they had difficulty getting a good price.

IBC-13’s assets and franchise were valued at P1.2 billion while RPN-9’s franchise was estimated at P800 million.

San Miguel, a dominant player in the food and beverage business, has diversified into oil refining, power, telecommunications, mining and infrastructure to spur faster growth. They had already owns Liberty Telecom, Eastern Telecom and Bell Telecommunications.

Their latest move could challenge the group of Manuel V.Pangilinan, who heads Philippine Long Distance Telephone Co. (PLDT) and also owns ABC Development Corp., operator of the TV5 network.

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Manny V. Pangilinan in "Deal Talks" with GMA-7?

According to Philippine Entertainment Portal (PEP) Alerts, the group of Manuel V. Pangilinan (owner of TV5) and GMA-7 executives are currently in “business deal talks”.

Recently, MVP is trying to secure a majority stake in a major television network in Southeast Asia’s biggest economy, Indonesia. This will give Pangilinan's group access to a richer supply of content for its radio, television and online platforms.

Here's scoopbox PEP Webmaster tweet on Monday (December 26):

"Hot topic ngayon ang business deal na ginagawa diumano sa pagitan nina Manny Pangilinan, sa isang banda, at ang pamilya Jimenez, Duavit, at Gozon ng GMA-7, sa ibang banda. Mind-boggling daw ang offer ni MVP para makuha ang Kapuso network, kaya mahirap mahindian. Ngunit sa ngayon, 2/3rds pa lang daw ang completion ng deal. Meron pa raw kasing pamilya na hindi kumbinsido, o dili kaya‘y nagho-hold out for a better deal. Pero sa lumulutang na figures, mukhang mahirap nang matapatan ang offer ni MVP. Abangan!"

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SAMSUNG overtakes APPLE to take No.1 Spot in SMARTPHONE Market

According to IDC press release last Nov. 3, Samsung zoomed past Apple to became the new leader in the worldwide smartphone market in the third quarter, with total smartphone shipments topping the 20 million unit mark for the first time in the company's history and become the biggest mobile phone maker by revenue.

Meanwhile, Apple, after taking the number one spot last quarter from Nokia, slipped to the number two spot worldwide.

The two giant companies are locked in a series of legal battles around the world over alleged patent infringements.

image credit: Engadget

Samsung saw a huge increase in smartphone shipments this past quarter especially the Android-powered smartphones, and joining the product mix was Samsung's refreshed Galaxy S II. However, Apple has just launched its brand new iPhone version - the iPhone 4S and re-priced its older models in multiple countries, therefore, it will poised to challenge Samsung for the leadership position in the next quarter.

Nokia, worldwide leader for mobile phone market, maintained its third place position on the strength of its Symbian phones while HTC moved up one spot to fourth and maintained its upward momentum during 3Q11.


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Smart-Sun Cellular 'unli' promos PERMANENT after MERGER Approved by NTC

The "unlimited" or "unli" promotions of PLDT-Smart Communications and Digitel-Sun Cellular will become permanent as part of its approval of Philippine Long Distance Telephone Co.'s acquisition of Digital Telecommunications Philippines Inc., according to National Telecommunications Commission (NTC) Director Edgardo Cabarrios.

The commission will not hesitate to revoke the licenses if they fail to comply with the conditions they set as other penalties such as a P200 per day fine are too small.

NTC also ordered PLDT to divest itself of one of its third-generation (3G) frequencies in six months.

After months of waiting, the National Telecommunications Commission (NTC) finally approved the Philippine Long Distance Telephone Co.'s (PLDT) acquisition of a majority stake in Digital Telecommunications Philippines (Digitel) on Wednesday. The share-swap transaction valued at about P69.2 billion.

"PLDT is extremely pleased to welcome Digitel to the PLDT Group. PLDT will continue to provide its consumers with the best value in terms of price, quality and range of products and services and we have committed to continue offering “unlimited” type of services in fulfillment of this promise. In addition, Sun subscribers can benefit from PLDT’s extensive infrastructure and varied service offerings," PLDT chairman Manuel V. Pangilinan said, in a statement.

"This transaction ensures that Digitel remains in good hands. Together, the PLDT-Digitel Group will be well-positioned to compete not only with formidable existing competitors but with well-funded new entrants as well," said JG Summit chairman, James L. Go.

Meanwhile, Globe Telecom Inc., the country's second-largest telecommunications player, has welcomed the approval of PLDT acquisition of Digitel on two conditions set by regulators mentioned above.

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SMART Communications unveils NEW SMART LOGO! (See Video)

image credit:smart communications

"In an ever-changing world, we lead you to a bold, new future" - Smart Telecommunications has unveiled the new SMART logo. They also updated their official website embedding the company's all-new logo.

image credit: smart communications

Smart Communications, Inc. is the Philippines' leading wireless services provider with 47.8 million subscribers on its GSM network as of end-June 2011.

According to its website, Smart has built a reputation for innovation, having introduced world-first wireless data services, including mobile commerce services such as Smart Money, Smart Load, Smart Padala and Netphone. Smart also offers 3G and HSPA services. Its Smart Link service provides communications to the global maritime industry. Smart Broadband, Inc., a wholly-owned subsidiary, offers a wireless broadband service, Smart BRO, with about 1.5 million subscribers as of end-June 2011. Smart is a wholly-owned subsidiary of the Philippines' leading telecommunications carrier, the Philippine Long Distance Telephone Company.

Check out the new logo of SMART Communications video courtesy of smartcorporate via YouTube:

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JOLLIBEE acquires BURGER KING Franchise

Jollibee Foods Corp. (JFC) has struck a deal to acquire a majority stake in the Philippine franchise of fastfood chain Burger King for P65.5 million, a move that cemented its leading position in the highly competitive fast-food restaurant industry.

In its disclosure to the Philippine Stock Exchange on Friday, JFC said it will acquire the 54-percent stake held by BK Titans Inc., which owns PERF Restaurants Inc., the sole franchisee in the country of the Burger King brand. The remaining 46 percent is owned by the group led by courier service magnate Alberto Lina (33 percent) and telecommunications tycoon Manuel V. Pangilinan (13 percent).

Burger King operates 23 restaurants in the country, mostly located in Metro Manila, generating annual revenues of P800 million. It offers five platforms – the Whopper (burger) line, the Extra-long chicken (patty for sandwiches), the BK Doubles or double patties, the BK Singles (single patty) and fish. It also serves fried chicken and fries. 

Last year, Jollibee also acquired majority control of Mang Inasal which was giving it stiff competition in the quick-service restaurant market.

Jollibee now operates the Philippines’ largest fastfood network with 1,941 stores in the country under the brands Jollibee (733), Chowking (395), Greenwich (209), Caffe Ti Amo (2) and Mang Inasal (393). It has 437 stores overseas under the brands Yonghe King (235), Hong Zhuang Yuan (52), Jollibee (71), Red Ribbon (39) and Chowking (40).

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PDIC Statement on LBC Development Bank Take-Over & Depositors Forum Schedules

Another Philippine thrift bank is in trouble. The bank owned by the LBC Group was already ordered closed by the Bangko Sentral ng Pilipinas over the weekend due to its liquidity problems.

However, the PDIC assured depositors of LBC Development Bank that all valid accounts and deposit insurance claims will be paid as soon as possible.

Here's the official statement from PDIC regarding the LBC Development Bank take-over:

The Philippine Deposit Insurance Corporation (PDIC) assures the public, particularly depositors of LBC Development Bank, that the Corporation will pay all valid accounts and deposit insurance claims as soon as possible.

Latest available records prior to takeover show total deposit accounts of 321,516. We shall announce the start of payout as soon as possible, given the volume of accounts involved.

We request depositors to await further announcements on claims operations. PDIC shall give periodic updates as soon as the examination of bank records is complete. These will be posted in bank sites and the PDIC website,

Meantime, PDIC is arranging the conduct of Depositors Forums for depositors of the Head Office and all its 19 branches nationwide. During the Forums, we will explain procedures and requirements on filing claims and answer depositors’ queries. Schedules of the Depositors Forums will be announced shortly. These will be posted in the PDIC website, in the bank and branch premises as well as conspicuous places in the localities where the branches are located. Depositors may also call the PDIC Helpdesk at 841-4630 and 4631 or email the Public Assistance Department at

Again, we assure depositors that PDIC will pay deposit insurance for all valid accounts and claims.

Here's the Notice to Depositors of LBC Development Bank on Conduct of Depositors Forum:

The Depositors Forum is a venue for PDIC to discuss the procedures and requirements for filing claims. Following is a partial schedule of the Depositors Forums:

Balanga BranchWednesday, Sept. 14, 20113:00 PMBrgy. Tenejero Covered Court, Balanga, Bataan
Cebu BranchFriday, Sept. 16, 20119:00 AMSinulog Hall, Public Library, Jones Ave., Cebu (in front of Cebu Doctor Hospital)
Timog (Quezon City)Tuesday, Sept. 13, 201110AMCovered Court, Barangay Laging Handa, Scout Gandia, Quezon City
Urdaneta BranchThursday, Sept. 15, 20119AMMain Gym, Urdaneta City Convention and Sports Center, (near LTO Office), Urdaneta, Pangasinan
Vigan BranchFriday, September 16, 20112PMCuta Gym, Barangay 9 corner Rivero St. and V. delos Reyes St., Vigan City
OlongapoWednesday, Sept. 14, 20119AMRizal Triangle Multi-purpose Center, West Bajac-Bajac, Olongapo City

Schedule of Depositors Forums for the Head Office and other Branches not covered above will be announced later.

The schedule of claims settlement operations (CSO) will be announced later.

For more information and updates, please get in touch with PDIC through:

PDIC Hotlines (02) 841-4630 and 841-4631
Email at

Breaking News: Steve Jobs resigns as Apple CEO

Apple CEO Steve Jobs has submitted his resignation according to the report.

Apple has confirmed that Jobs will stay on as Chairman and COO Tim Cook will replace Jobs as CEO.

Steve himself published the following letter:

August 24, 2011 – To the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.


Google buys Motorola for $12.5 billion rocks tech world

Google announced early on Monday morning that it has purchased Motorola Mobility Holdings for $12.5 billion in cash to bolster the adoption of its Android mobile software. Motorola is one of 39 manufacturers of handsets that use Google’s Android operating system. The acquisition, Google said in a statement, “will not only supercharge Android, but will also enhance competition and offer consumers accelerating innovation, greater choice, and wonderful user experiences.”

According to Google's official blog:

"This acquisition will not change our commitment to run Android as an open platform. Motorola will remain a licensee of Android and Android will remain open. We will run Motorola as a separate business. Many hardware partners have contributed to Android’s success and we look forward to continuing to work with all of them to deliver outstanding user experiences."

"The combination of Google and Motorola will not only supercharge Android, but will also enhance competition and offer consumers accelerating innovation, greater choice, and wonderful user experiences. I am confident that these great experiences will create huge value for shareholders." 

Shares of Motorola Mobilityjumped 59 percent in premarket trade on Monday. Google said the deal will close by the end of 2011 or early in 2012.

Microsoft to Buy Skype for $8.5 Billion

Microsoft Corp. (MSFT) confirmed plans to buy Internet phone company Skype Technologies SA for $8.5 billion in cash--the most aggressive move yet by Microsoft to play in the increasingly-converged worlds of communication, information and entertainment.

Here's the press release from Microsoft website:

REDMOND, Wash., and LUXEMBOURG – May 10, 2011 – Microsoft Corp. (Nasdaq: “MSFT”) and Skype Global S.à r.l today announced that they have entered into a definitive agreement under which Microsoft will acquire Skype, the leading Internet communications company, for $8.5 billion in cash from the investor group led by Silver Lake. The agreement has been approved by the boards of directors of both Microsoft and Skype.

The acquisition will increase the accessibility of real-time video and voice communications, bringing benefits to both consumers and enterprise users and generating significant new business and revenue opportunities. The combination will extend Skype’s world-class brand and the reach of its networked platform, while enhancing Microsoft’s existing portfolio of real-time communications products and services.

With 170 million connected users and over 207 billion minutes of voice and video conversations in 2010, Skype has been a pioneer in creating rich, meaningful connections among friends, families and business colleagues globally. Microsoft has a long-standing focus and investment in real-time communications across its various platforms, including Lync (which saw 30 percent revenue growth in Q3), Outlook, Messenger, Hotmail and Xbox LIVE.

Skype will support Microsoft devices like Xbox and Kinect, Windows Phone and a wide array of Windows devices, and Microsoft will connect Skype users with Lync, Outlook, Xbox Live and other communities. Microsoft will continue to invest in and support Skype clients on non-Microsoft platforms. READ MORE<<

Seagate and Samsung Merges Hard Drive Businesses

After Western Digital acquired Hitachi Hard Drive Business last month, Seagate and Samsung have struck a deal to combine their hard drive businesses. The combined value of these transactions and agreements is approximately $1.375 billion USD, which will be paid by Seagate to Samsung in the form of 50% stock and 50% cash.

Major elements of the agreement include:

-Samsung combining its hard disk drive (HDD) operations into Seagate
-Extending and enhancing the existing patent cross-license agreement between the companies
-A NAND flash memory supply agreement under which Samsung will provide Seagate with its market-leading semiconductor products for use in Seagate’s enterprise solid state drives (SSDs), solid state hybrid drives and other products
-A disk drive supply agreement under which Seagate will supply disk drives to Samsung for PCs, notebooks and consumer electronics
-Expanded cooperation between the companies to co-develop enterprise storage solutions
-Samsung receiving significant equity ownership in Seagate
-A shareholder agreement under which an executive of Samsung will be nominated to join Seagate’s Board of Directors


Whew!! Globe vs. Smart in Latest UnlimitedTxt Promo Wars

I would say this is a very healthy competition between this two giant telecommunication companies and the consumers will benefit on this because less expensive services will be offered. We need more promos like this.


Globe MY SUPER TXT ALL is an unlimited SMS offer to any local network (both intra and inter) for 30 days. Globe MY SUPER TXT ALL is available to all Postpaid subscribers (All New My Super Plan and Platinum) where they enjoy unlimited texts to Sun, Globe, Smart, Talk N Text, Globe and TM numbers.

This service is not available to OFW, SME, Corporate and Load Tipid Plan subscribers.

Registration to the service is easy. Simply text MYSUPERTXTALL ON to 8888. The service is valid for 30days and P599 will be charged on top of your current bill. This service will auto-renew after every 30th day.



Mega dahil sa lahat ng Lahatext offers, ito ang may pinaka-mega-daming texts! P20 a day lang, 250 texts na to ALL NETWORKS! 200 Smart to SMART plus 50 texts sa ibang universe. Megaload na! Text 20 to 2266.


More foreign investors express interest in Surigao City

SURIGAO CITY, Apr. 14 (PIA) - More investors have signified their intentions to put up their business in Surigao City.

Early this month, two Malaysian investors namely, Lee Vui Lin and Chu Vui Fang representing the Multi Supply Corporation in Kota Kinabalu, Sabah, Malaysia, visited the office of the City Mayor Ernesto T. Matugas. They seriously signified their intention to put-up a Farm Tank Depot (Supply of Petroleum Gas) in Nonoc Island and a low-interest rate housing project intended for government employees. READ MORE<<

Amazing! U.S. McDonald's to Hire 50,000 Workers - in just 1 day

I believe this is just a reminder to all that McDonald's Corp. still one of the giogantic company in the world. The fast-food giant said the company and its franchisees plans to hold a hiring event on April 19 in an effort to hire new employees as many as 50,000 people for full and part-time spots at nearly 14,000 U.S. restaurants.

This is really huge to the US economy because it translated into an additional millions of dollars in payroll taxes and for sure it will generate billions in annual spending.

NEW YORK (CNNMoney) -- McDonald's said Monday that it is planning a one-day hiring spree of 50,000 new workers on April 19 for its U.S. restaurants...READ MORE<<

It's Final: Smart Telecoms and Sun Cellular under One Owner!

Wow, the latest acquisition of Digitel Telecommunications Philippines by PLDT translate to a big telecommunication merger between Smart and Sun Cellular.

They have already in their pocket the Talk and Text and Red Mobile. Therefore, adding Sun Cellular to their portfolio will just strenghtening PLDT's number one position in the Philippine telecommunication market. But braved Globe Telecoms will not back off rather the are ready to compete and to continue their fundamental strategy by delivering superior, relevant services to its customers. Globe used to be a good and innovative company, and fighting off PLDT maybe what makes it great again, or sinks it.

PLDT has announced that it is buying a 51.55% stake in the local mobile network Digitel - which owned Sun Cellular - from its current owner JG Summit Holdings. Though, PLDT said that it intends to keep the mobile operations of Digitel separate and intact, and to maintain and capitalize on Sun Cellular's operations and significant brand equity to continue serving specific segments of the market, especially those who prefer "unlimited" type of services.

According to PLDT chairman Manuel V. Pangilinan, the transaction fortifies its position as the leading telecommunications company in the Philippines.

Surigao Update: Gaisano Mall Groundbreaking

SURIGAO CITY, Mar. 21 (PIA) - Senator Francis “Chiz” Escudero was elated with the Gaisano Capital Corporation’s interest in putting-up a new investment in the city following its formal groundbreaking last week.

In a press statement, Escudero thanked and appreciated the confidence of the company for putting-up a 2-storey mall in Surigao City, “I thank and appreciate the confidence of Gaisano Capital in that area (Surigao City).”

The site is a 3.4-hectare expanse along the national highway in Barangay Luna adjacent to the St. Paul University Surigao and the city’s Bus and Jeepney terminal.
Escudero is hoping that more businessmen will then follow, “I hope other businessmen will follow suit so that development will reach Mindanao and not just Metro Manila and Luzon.”

It was learned that the company is predicting about 600 to 800 Surigaonons to be employed once the mall becomes operational. (FEAbkilan, PIA-Surigao del Norte)

Source: PIA-Surigao del Norte

The World's Top 10 Billionaires

Want to know who's the richest man on earth today? Well, Zoom Scanner will share to you what Forbes has recently released. According to them, 2011 list broke records in size (1,210 billionaires) and total net worth ($4.5 trillion).

China doubled its number of 10-figure fortunes, and Moscow now has more billionaires than any other city. Mexico's Carlos Slim widened his lead at No. 1.

The top 10 of the world's wealthiest persons:

No. 1 Carlos Slim Helú & family, Mexico
Net Worth: $74 billion UP; Source: Telecom

No. 2 Bill Gates, United States
Net Worth: $56 billion UP; Source: Microsoft

No. 3 Warren Buffett, United States
Net Worth: $50 billion UPl; Source: Berkshire Hathaway

No. 4 Bernard Arnault, France
Net Worth: $41 billion UP; Source: LVMH

No. 5 Larry Ellison, United States
Net Worth: $39.5 billion UP; Source: Oracle

No. 6 Lakshmi Mittal, India
Net Worth: $31.20 billion UP; Source: steel

No. 7 Amancio Ortega, Spain
Net Worth: $31 billion UP; Source: Zara

No. 8 Eike Batista, Brazil
Net Worth: $30 billion UP; Source: mining, oil

No. 9 Mukesh Ambani, India
Net Worth: $27 billion DOWN; Source: petrochemicals

No. 10 Christy Walton & family, United States
Net Worth: $26.5 billion UP; Source: Wal-Mart


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