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Gasoline dealers pursue suit vs Chevron for unfair competition

A Caltex station in Las Piñas City is show in this photo taken on Sept. 9, 2012. Local oil companies including Chevron (which operates Caltex gas stations) are slashing prices of petroleum products effective Tuesday, Sept. 25, 2012, to reflect the uptrend of oil prices in the global market.  PHOTO BY RICK ALBERTO

Gasoline dealers have asked the Department of Justice (DOJ) to overturn the dismissal by a Makati prosecutor of its complaint against petroleum giant Chevron Philippines Inc., which it accused of unfairly competing with them by operating its own gasoline stations from 2003 to 2009.

Posted: June 23rd, 2013 in Latest Business Stories | Read More »

CA lifts freeze order on Ongpin bank accounts

Businessman Roberto Ongpin  INQUIRER FILE PHOTO

The Court of Appeals has lifted the five month-long freeze order on the bank accounts of businessman Roberto Ongpin and several of his co-accused in the allegedly behest loans extended to him by the Development Bank of the Philippines.

Posted: May 8th, 2013 in Latest Business Stories | Read More »

US accuses S&P of fraud in mortgage bond ratings


US Justice Department officials Tuesday accused Standard & Poor’s of fraud for inflating the ratings of mortgage bonds before the 2008 crisis, costing federally insured institutions at least $5 billion in losses.

Posted: February 6th, 2013 in Latest Business Stories | Read More »

S&P faces US gov’t suit over 2007 mortgage bond ratings

Standard & Poor's

The US Justice Department plans to sue Standard & Poor’s over its rating of mortgage bonds prior to the 2008 financial crisis, S&P said Monday.

Posted: February 5th, 2013 in Latest Business Stories | Read More »

SC asked to scrap TRO on installation of online lotto terminals in Luzon


Lottery equipment and service provider Pacific Online Systems Corp. has asked the Supreme Court to junk a lower court order restraining the state-owned Philippine Charity Sweepstakes Office from installing and operating any of the former’s online lottery terminals in Luzon.

Posted: December 27th, 2012 in Latest Business Stories | Read More »

Court orders liquidation of Steel Corporation to pay off creditors


The Regional Trial Court of Batangas City has ordered the liquidation of Steel Corporation of the Philippines (SCP) on grounds that rehabilitation is no longer a feasible option.

Posted: October 2nd, 2012 in Latest Business Stories | Read More »

Court of Appeals upholds auction of Pantranco buses to rival firms


The Court of Appeals has junked for lack of merit the petition of three bus companies seeking to nullify the order of the Land Transportation Franchising and Regulatory Board (LTFRB), which allowed the sale of the franchise of the defunct Pantranco North Express Inc. to rival bus firms.

Posted: July 19th, 2012 in Latest Business Stories | Read More »

CA orders telecom firms to comply with ‘per-pulse’ billing


The Court of Appeals (CA) has ordered the country’s telecommunications firms to ditch their per-minute charging scheme for voice calls and start charging their subscribers on six-second “pulses,” giving users more value for their money.

Posted: February 1st, 2012 in Latest Business Stories | Read More »

Dipolog hearing may help resolve open pit mining ban


The Dipolog Regional Trial Court (RTC) has set a “judicial trend” in ruling against a ban on open-pit mining and this might eventually help resolve the constitutionality issue on other ordinances banning open pit mining, such as the one in South Cotabato, former presidential adviser on Mindanao affairs Jess Dureza said in a statement.

Posted: January 17th, 2012 in Latest Business Stories | Read More »

Vital IPR rules seen ready by end of August


The Intellectual Property Office of the Philippines (IPOPHL) expects by end of August the Supreme Court’s issuance of special rules that will facilitate the resolution of cases of intellectual property rights violations. In an interview, IPOPHL director general Ricardo Blancaflor said that while the draft rules had been sitting with the high tribunal for more [...]

Posted: July 11th, 2011 in Headlines | Read More »

Pangilinan fears SC ruling on PLDT shares to hurt stock market


Forcing foreign shareholders to divest a significant portion of PLDT common shares could wreak havoc on the company’s financial health as well as that of the local capital market, company chairperson Manuel V. Pangilinan said on the sidelines of the Philex Mining Corp. stockholders meeting.

Posted: June 29th, 2011 in Latest Business Stories | Read More »



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