’60 Minutes’ interviews Glaxo whistleblower
January 3, 2011
(Credit: 60 Minutes) Cheryl Eckard The woman who blew the whistle on the production problems plaguing the now-shuttered GlaxoSmithKline plant in Cidra was interviewed on 60 Minutes on Sunday, marking the first time she has spoken publicly of the manufacturing breaches. In the report, Cheryl Eckard — a former global manager for quality assurance for […]
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U.S. Treasury yet to issue decision on Law 154 tax credit
January 3, 2011
The U.S. Department of Treasury has yet to issue a decision on whether foreign companies doing business in Puerto Rico will be allowed to take a credit for the excise tax imposed through Law 154, which goes into effect this month.
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Arkansas shipper opens routes to Dominican Republic
January 3, 2011
Arkansas-based ABF Freight Systems on Monday announced the launch of new carrier service between the U.S. mainland and the Dominican Republic, in addition to a route between Puerto Rico and the neighboring island nation. The expansion responds to “increased demand for shipping solutions from customers taking advantage of opportunities created by the United States-Dominican Republic-Central […]
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Stateside analyst firm notes Popular Inc, Oriental’s ’10 performances
December 31, 2010
Digital financial media company TheStreet.com this week included two local banks in its list of “Bank Stock Awards” winners, recognizing their respective performance improvements in 2010.
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P.R. gets $1M from U.S. Dept. of Labor for clean-up works
December 31, 2010
Puerto Rico has received $1 million from the U.S. Department of Labor’s National Emergency Grant program to continue clean-up and recovery efforts in the wake of the tough weather the island experienced in May.
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Agriculture asks court for 10 more days to determine new milk prices
December 30, 2010
The Agriculture Department on Thursday filed a motion at the U.S. District Court for Puerto Rico requesting an additional 10 days to "responsibly calculate" what the new price for fresh milk should be.
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PRT to save millions in operational costs due to FCC decision
December 29, 2010
Puerto Rico Telephone recently scored a regulatory victory that will produce millions in operational savings, as a result of a Federal Communications Commission decision regarding the way the carrier offers long distance services. In an extensive decision released about a week ago, the FCC granted PRT’s request to allow it to provide long distance services […]
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Gov’t mulling GO bond sale
December 28, 2010
After two years of staying away from such transactions, the Commonwealth is considering a sale of general obligation bonds sometime in 2011 to finance infrastructure projects, Government Development Bank President Carlos García said Tuesday. While the government official did not say when the sale would take place or how much the agency is looking to […]
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American Airlines further reducing local operations
December 28, 2010
Dallas-Fort Worth-based American Airlines, Puerto Rico's dominant air carrier, will be cutting five more routes from its schedule out of the Luis Muñoz Marín Airport, including several offered by its regional operator, American Eagle.
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Best Buy announces $1.2M scholarship program
December 28, 2010
Minneapolis-based retailer Best Buy Co. Inc. announced Monday the launch of its 2011 “@15 Scholarship” program, through which up to 1,200 college-bound students from the U.S. mainland and Puerto Rico can benefit from scholarships from the company. Students in grades 9-12 planning to enter college are eligible for the award program which has already distributed […]
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Thousands stranded at LMM as blizzard blankets Northeast
December 27, 2010
Nearly two dozen flights in and out of the Luis Muñoz Marín Airport in Carolina were grounded Monday, leaving about 2,000 passengers stranded as a major blizzard dumped significant amounts of snow throughout several states along the Mid-Atlantic and U.S. eastern seaboard.
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Pharma sector growth pinned at 2.5% in ’11
December 27, 2010
esearch firm Business Monitor International on Monday predicted that Puerto Rico's pharmaceutical industry will show a slight growth of 2.5 percent next year, despite the looming threat of the effects of Law 154, which starting in January levies a 4 percent excise tax on foreign corporations doing business on the island.
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Android handset sales expected to grow in ’11
December 27, 2010
The sale and popularity of smartphones running on the Android operating system is expected to explode in 2011, driven by better networks and improved — and cheaper — handsets, industry experts are predicting. The growth is already evidenced in numbers, as according to research firm IDC, Android-based phones sales have spiked 55 percent year-over-year, since […]
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Housing incentives move market
December 27, 2010
In the first three months since the launching of a government program to boost housing sales, some 10,640 units have been sold, representing more than $1.4 billion in economic activity, Housing Financing Authority officials said over the weekend.
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Ports mulls tightening maritime cargo inspections
December 23, 2010
Credit: Carlos Anguita The Puerto Rico Ports Authority announced this week plans to establish a new container inspection systems regulation, which is already generating talk among stateside maritime shippers. In a public notice published Tuesday, the agency announced that it will hold a public hearing on Jan. 21 to receive “testimonies and comments” concerning the […]
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