DIRECTV, AT&T Mobility consolidate P.R. operations
May 4, 2016
José Juan Dávila, vice president and current CEO of AT&T Mobility has been named the head of both the wireless carrier and DirecTV, which will begin consolidating their Puerto Rico operations as part of the $50 billion merger agreement completed last year.
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Politicians, analysts, creditors react to gov’t debt default
May 3, 2016
The Puerto Rico government’s decision to default on a portion of the $470 million in debt service payments due Monday drew reactions from politicians, analysts and creditors alike, who both urged Congress to act on the Commonwealth’s behalf and predicted long court battles ahead.
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Bankruptcies skyrocket in April, with individuals leading
May 3, 2016
The number of bankruptcy cases filed in Puerto Rico skyrocketed last month, when an astounding 19.5 percent more petitions for protection from creditors were filed at the local court, research firm Boletín de Puerto Rico revealed Monday.
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P.R. gov’t will fall $367M short in May debt payment
May 2, 2016
Calling on Congress to take swift action to create a debt restructuring mechanism and saying resources are “scarce,” Puerto Rico Gov. Alejandro García-Padilla confirmed Sunday he has ordered a moratorium on the debt service payments due from the Government Development Bank.
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SME study: 2M+ people in P.R. are online daily
April 29, 2016
More than 2 million people in Puerto Rico interact daily on a social network through their phone, computer or tablet — a trend that continues to rise, affecting the way they communicate, their consumption patterns, information search and content preferences.
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CNE stresses ‘sense of urgency’ for Congressional action
April 29, 2016
Center for a New Economy representatives on Thursday stressed the urgency for Congressional action, but cautioned that any bill approved in Washington must provide Puerto Rico with a debt restructuring mechanism “that will actually work.”
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P.R. retail sales down 3.71% year-over-year in Jan.
April 28, 2016
Puerto Rico retail sales started 2016 in a slump, reflecting a 3.71 percent year-over-year drop in January, or $113.3 million less than what was generated during the same month in 2015, Puerto Rico Trade and Export reported Wednesday.
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New stores arriving to Plaza del Caribe, Mall of San Juan
April 28, 2016
A lineup of new retail tenants is opening at two Puerto Rico malls, Plaza del Caribe in Ponce and The Mall of San Juan in the metropolitan area.
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Tourism Co.: Zika has hit less than 0.5% of P.R. residents
April 28, 2016
The Puerto Rico Tourism Co. on Wednesday confirmed it is doing “everything in its power” to protect visitors to the island as it deals with the spread of the Zika virus, which so far has affected “less than one half of one percent” of the population,” agency Executive Director Ingrid I. Rivera-Rocafort said.
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Echar Pa’lante, Georgia Tech foster entrepreneurship
April 28, 2016
The multi-sectorial “Echar Pa’lante” alliance sponsored by Banco Popular recently joined forces with the Georgia Institute of Technology, to train more than 110 university professors from eight universities on entrepreneurship.
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AT&T’s ‘Puede Esperar’ pitch targets Spanish speakers
April 28, 2016
Wireless carrier AT&T unveiled Wednesday it’s new “Puede Esperar” campaign targeting Spanish-speaking Hispanics on the U.S. mainland, who it said are more prone to smartphone distracted driving than the general population, according its research.
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PREPA will need 2 more weeks to complete rate case
April 27, 2016
The Puerto Rico Electric Power Authority has asked creditors for a two-week extension through May 13 to file its rate case before the Puerto Rico Energy Commission, which is a key element in the restructuring support agreement reached with creditors.
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Justice to testify on cybercrimes before Senate today
April 27, 2016
The Puerto Rico Justice Department’s CyberCrime Division will testify before the Senate on Internet sales and the protections consumers require to fight off fraudulent business practices.
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Popular Inc. reports $85M in net income in 1Q16
April 26, 2016
Encouraged by the progress shown by its U.S. mainland operation and by the strength of its Puerto Rico franchise, Popular Inc. reported Monday net income of $85 million for the first quarter ended Mar. 31, 2016, compared to net income of $137.4 million and an adjusted net income of $98.3 million for the quarter ended Dec. 31, 2015.
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Trade groups ask Legislature to hold off on labor bills
April 22, 2016
Looking to avoid further increases in operating costs that prevent the island’s productive sector from contributing to Puerto Rico’s socioeconomic development despite the ongoing fiscal crisis, a group of associations on Thursday asked for a moratorium on the approval of certain labor laws being considered in the Legislature.
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