Puerto Rico brokerage firm Consultiva Securities sold
November 1, 2013
Fairbridge Capital Partners announced Thursday it has completed the purchase of Puerto Rico based brokerage firm Consultiva Securities. The terms of the deal were undisclosed.
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FirstBank acting on cleaner balance sheet to push growth
October 31, 2013
On the heels of a good third quarter, FirstBank executives are looking to capitalize on a “cleaner balance sheet” to continue strengthening and growing its franchise on all fronts in Puerto Rico, the U.S. Virgin Islands and South Florida.
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UBS looks to clear the air with clients after SEC decision
October 31, 2013
A day after the Securities and Exchange Commission absolved two of its top Puerto Rico financial advisors of charges of misleading or defrauding customers, UBS Financial Services looked to clear the air with its client base through an extensive letter in which it addressed a number of public allegations regarding its recent business practices.
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Puerto Rico retail sales down 0.3% in July
October 31, 2013
Puerto Rico’s retail sales were down 3 percent year-over-year in July — the most recent statistic available for the sector — when some $2.94 billion in activity was reported.
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7th LongHorn Steakhouse to open at Hyatt Place Manatí
October 31, 2013
Executives from the LongHorn Steakhouse chain announced Wednesday plans to open its seventh restaurant in Puerto Rico, at the Hyatt Place Manatí & Casino Atlántico, currently in its final stage of construction.
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SBA Puerto Rico signs on VegaCoop as 7(a) lender
October 31, 2013
The U.S. Small Business Administration has given authority to VegaCoop to provide financial assistance to small business owners under SBA’s 7(a) Loan Guaranty program, SBA District Director Yvette T. Collazo announced today.
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Microsoft donates Office 365 software to nonprofits
October 31, 2013
Microsoft Corp. announced this week it will be donating its Office 365 software to eligible nonprofits in 40 countries worldwide, including Puerto Rico, enabling them to have access to a range of cloud-based productivity and collaboration tools so they can spend less time in front of the computer and more time addressing their social causes.
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Redesigned Mazda3 hits Puerto Rico roads
October 31, 2013
The ompletely redesigned 2014 Mazda3 has arrived in Puerto Rico to “revolutionize the compact car segment,” Mazda de Puerto Rico General Manager Carmen Cedré said Wednesday.
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Private sector groups ask PRASA to delay new water fee
October 30, 2013
Sixteen organizations representing a cross-section of the island’s private sector warned the Puerto Rico Aqueduct and Sewer Authority that a new environmental fee currently under review will represent a blow to economic development, cause business closures, bankruptcies and the loss of thousands of jobs.
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Kmart launches online layaway, store-to-home shipping in Puerto Rico
October 30, 2013
Kmart announced Tuesday that it will extend its integrated retail shopping conveniences to customers in Puerto Rico, offering more flexibility both in-store and online.
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SBA: Fiscal ’13 is 3rd highest year of lending to date
October 30, 2013
The U.S Small Business Administration announced Tuesday that it has reached its third highest year of lending to date, surpassed only by two record years of supporting more than $30 billion in Fiscal 2011 and 2012.
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Moody’s: Puerto Rico facing greater odds of defaulting
October 29, 2013
Puerto Rico is facing better odds of defaulting on its debt, Moody’s Analytics said Monday, adding that fiscal problems, high unemployment rate and a shrinking population are fueling the problem.
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IMC jump-starting plans to expand in LMM, Puerto Rico
October 29, 2013
International Meal Company is jump-starting plans announced last year to make significant investments in its operations at the Luis Muñoz Marín International Airport, as well as expand its reach outside the facility with the establishment of at least three Carl’s Jr. burger restaurants, company officials confirmed Monday.
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High prospects for Puerto Rico Bath & Body Works stores
October 29, 2013
Retailer Bath & Body Works made its highly anticipated debut in Puerto Rico Monday — more than two decades after first setting up shop in Ohio — with the opening of a 4,700 square-foot store in the Plaza Las Américas mega-mall in Hato Rey.
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Oriental records $16.2M profit in 3Q13
October 29, 2013
OFG Bancorp reported Monday its results for the third quarter ended Sept. 30, which showed income available to common shareholders of $16.2 million, up 10 percent from the $14.7 million reported in the same year-ago quarter.
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