GMA News Online / Economy / Companies

Coca-Cola, Pepsi to reduce 'cancer-causing' caramel coloring content of their softdrinks

Sat, 10 Mar 2012 01:03:03 +0800

WASHINGTON�- Coca-Cola said Friday it will lower levels of a chemical in caramel coloring to comply with a California law, but insisted the beverage's recipe will not change and poses no health risks.

SSS suing more companies for not remitting contributions

Fri, 09 Mar 2012 16:53:15 +0800

The Social Security System, the pension fund for private sector employees, wants to sue more companies this year for not remitting the contributions of their workers. Last year, SSS sued 1,227 employers or 66 percent more than the 740 cases filed a year earlier. Workers' monthly amortizations are deducted from their salaries but there is a rampant corporate practice of not remitting the contributions to the pension fund.

PHL wants �flood-damaged Toyota�factories�transferred to Santa Rosa

Fri, 09 Mar 2012 15:21:15 +0800

Right after the 500,000th Toyota car rolled out of the assembly plant in Santa Rosa, Laguna, on Thursday, Philippine Economic Zone Authority director-general Leila de Lima immediately went down to business and huddled with the Japanese carmaker’s top executives in the region.

Facebook secures $8B ahead of public offer

Fri, 09 Mar 2012 13:03:45 +0800

WASHINGTON —�Facebook has secured $8 billion ahead of the social network's eagerly anticipated initial public offering (IPO), according to documents provided to US regulators.

Rising fuel prices partly force Air France-KLM to land on loss strip

Fri, 09 Mar 2012 05:17:17 +0800

PARIS�- Air France-KLM switched into heavy loss last year owing to high and still rising fuel costs, disruption to traffic from unrest in North Africa and an earthquake in Japan, the firm said on Thursday.

SingTel to buy US firm to boost mobile ad business in PHL, rest of Asia

Wed, 07 Mar 2012 03:00:47 +0800

SINGAPORE��- Singapore Telecom said Monday that it will buy a US mobile advertising start-up for $321 million to expand group revenues from phone ads and marketing across Asia.�SingTel, Southeast Asia's biggest telecom firm by revenue, said its 100 percent buyout of Amobee would boost mobile ad sales in India, Thailand, the Philippines, Indonesia, Bangladesh and Pakistan, where it has large affiliates.

Wall Street: Lehman Brothers emerges from bankruptcy

Wed, 07 Mar 2012 01:28:58 +0800

Lehman Brothers Holdings Inc emerged from its record $639 billion bankruptcy on Tuesday and said it will start paying back creditors on April 17.

Manila Water adds 550K new water lines, wasted water drops to 11%

Tue, 06 Mar 2012 18:52:17 +0800

Taguig, Antipolo and some towns of Rizal province are unserved and underserved water service areas no more, according to the Manila Water Company, which said Tuesday that it added 550,000�new service connections and brought down to an all-time low of 11 percent its system losses or wasted water.

PLDT cuts 2012 core profit guidance to P37B

Tue, 06 Mar 2012 17:45:41 +0800

After reporting lower earnings for 2011, Philippine Long Distance Telephone Company on Tuesday said it sees core profits further sliding down this year.

BP reaches $7.8 bln part settlement in US oil spill trial

Sat, 03 Mar 2012 23:15:58 +0800

CHICAGO��- British Petroleum (BP) said it had reached a $7.8 billion (5.9 billion euro) deal to settle thousands of claims from fishermen and others affected by the Gulf of Mexico oil spill, ahead of a blockbuster US trial.

GMA's Gozon: No price offered as basis for discussion

Fri, 02 Mar 2012 19:53:20 +0800

GMA Network Felipe L. Gozon:�'We are flattered by the expression of continued interest on the part of MVP. However, there has been no price offered that could form the basis of discussion between the parties.'

700 MW expansion plan of AboitizPower stays despite lower '11 income

Thu, 01 Mar 2012 21:52:53 +0800

Undaunted by a 14 percent drop in consolidated net income to P21.6 billion last year, AboitizPower said Thursday it will forge ahead with its plans to expand generating capacity by about 700 megawatts (MW) from 2012 to 2015.

Ferrari, Maserati vroom into Philippine luxury car market

Thu, 01 Mar 2012 19:25:21 +0800

Got P18 million to spare for cruising in luxury along the streets of Manila, or maybe down south on the SLEX or up north on the NLEX? Ferrari or Maserati? Take your pick. These premiere Italian brands hit the Philippine market Thursday and are expected to boost sales in this segment by 20 percent.

Liquigaz company hikes LPG prices

Thu, 01 Mar 2012 07:48:49 +0800

As if the latest round of price hikes for diesel and gasoline were not enough, prices of liquefied petroleum gas (LPG) have gone up as well.

Philex Petroleum says 2011 net income reached P537.5 million

Wed, 29 Feb 2012 17:57:26 +0800

Philex Petroleum Corp. on Wednesday said its 2011 net income totaled P537.5 million.�In a statement to the Philippine Stock Exchange, Philex Petroleum said its earnings included P271.4-million from Forum Energy Plc — a 64.45-percent owned subsidiary — and a non-recurring gain of P443.7 million from the restatement of the company's investment in Pitkin Petroleum Plc.