Nokia Corp. appears to have turned around its fortunes after the sale of its ailing cellphone unit to Microsoft, reporting a third-quarter net profit of 747 million euros ($950 million), from a loss of 91 million euros a year earlier. Sales growth was 13 percent compared to 2013.
By Daxim L. Lucas
San Miguel Corp. maintained Thursday that it should be declared the winning bidder of the P35.4-billion Cavite-Laguna Expressway (CALAx) by virtue of having submitted the highest bid for the keys toll road project under the government’s public private partnership program.
US stocks dropped Wednesday following mixed earnings, with the broad market retreating from three straight sessions of big gains.
By Miguel R. Camus
Businessman Lucio Tan on Wednesday launched a voluntary tender offer priced at a sharp discount to buy out minority shareholders of flag carrier Philippine Airlines and its listed owner PAL Holdings Inc., according to a regulatory filing.
By Riza T. Olchondra
Oil firm PTT Philippines Corp. is embarking on a venture that would diversify its operations to include power generation and the expansion of its parent firms’ global liquefied natural gas (LNG) footprint.