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Biz Buzz: Manila Bulletin rally

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The demise of the head of a listed company is usually followed by uncertainty over the firm’s future direction which, in turn, leads of investors selling of the company’s stock.

Posted: April 11th, 2014 in Headlines | Read More »

Lucio Tan consolidates control of Victorias

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Lucio Tan.  INQUIRER FILE PHOTO

The group of tycoon Lucio Tan has moved to increase its holdings in Victorias Milling Corp. in a move that is seen to be in line with a strategy to consolidate control of the country’s larges sugar milling company. The group already has management control of the sugar company.

Posted: April 8th, 2014 in Latest Business Stories | Read More »

LT Group net profit down on lower tobacco earnings

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Tycoon Lucio Tan-led conglomerate LT Group Inc. posted a net profit of P8.67 billion last year, 32-percent lower than a year ago on a pro-forma basis, on lower earnings from the tobacco, banking and liquor businesses.

Posted: March 22nd, 2014 in Headlines | Read More »

Lucio Tan’s LT Group posts 32% profit drop

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Lucio Tan.  INQUIRER FILE PHOTO

Tycoon Lucio Tan-led conglomerate LT Group Inc. posted a net profit of P8.67 billion last year, 32 percent lower than a year ago, on lower earnings from the tobacco, banking and liquor businesses.

Posted: March 21st, 2014 in Latest Business Stories | Read More »

Ever play

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Some 897 million shares of debt-strapped mall and cinema operator Ever Gotesco Resources and Holdings Inc. were crossed at the Philippine Stock Exchange at 19.50 centavos each on Wednesday last week, raising backdoor-listing speculations. The crossed shares were equivalent to about 18 percent of the company’s outstanding stocks and boosted Ever’s share price that day by 48.72 percent.

Posted: March 3rd, 2014 in Headlines | Read More »

Exiting the oldies

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There’s buzz within the Lucio Tan group of companies that the Kapitan may finally let go of overstaying senior citizens in the conglomerate’s plantilla to give way to new blood.

Posted: February 24th, 2014 in Headlines | Read More »

Biz Buzz

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As more of the country’s property giants shift their attention and resources to Cebu, amid stiff competition in Manila, the Queen City of the South’s traditionally low-key homegrown players, too, have become more aggressive especially when it comes to snapping up prime pieces of real estate.

Posted: January 19th, 2014 in Editor's Pick,Headlines | Read More »

Real jockeying begins

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As is usually the practice, the highest bidder in any government project is usually subjected to more stringent examination and questioning after the submission of financial bids before the concession is awarded to them.

Posted: December 22nd, 2013 in Editor's Pick,Headlines | Read More »

P10-B infusion into Allied thrift bank unit OKd

Tycoon Lucio Tan-led Philippine National Bank has approved a P10-billion fresh equity infusion into Allied Savings Bank, a thrift bank that became its wholly owned subsidiary following its merger with Allied Banking Corp.

Posted: December 22nd, 2013 in Headlines | Read More »

LT Group profit down 18% to P6.85B as of Sept.

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LT Group Inc., the holding company of tycoon Lucio Tan, said profit in the nine months through September dipped 17.6 percent to P6.85 billion, as its tobacco unit slowed and its liquor business swung to a loss.

Posted: November 16th, 2013 in Headlines | Read More »

Sin tax sends premium brands beyond poor’s reach

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A vendor sells cigarettes at a supermarket in Quezon City. AFP FILE PHOTO

The enactment of the Sin Tax Reform Law pushed up the prices of cigarettes made by Philip Morris Fortune Tobacco Corp. (PMFTC)—the country’s largest tobacco firm—beyond the reach of those from the lower economic strata.

Posted: November 3rd, 2013 in Editor's Pick,Headlines,Latest Business Stories | Read More »

Big banks on fundraising mode to push expansion

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A number of big Philippine banks are raising fresh funds from the rollout of long-term negotiable certificates of deposits (LNTCDs), tapping the cash-rich domestic market to boost funds for lending and expansion.

Posted: October 20th, 2013 in Headlines | Read More »

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